State-owned Development Bank of the Philippines (DBP) is partnering with TimesofMoney, Ltd. (TOML) through its Remit2Home service to enable overseas Filipino workers (OFWs) to transfer funds online to their beneficiaries in the Philippines.
DBP president & chief executive officer Francisco F. Del Rosario, Jr. said that with the partnerships, OFWs in the United States, the United Kingdom, and several other countries can conveniently transfer funds anytime within the comforts of their homes or offices. Beneficiaries can receive cash at more than 2,000 authorized DBP cash pick up locations nationwide.
“This partnership with TimesofMoney’s Remit2Home will enable DBP to reach out to more OFWs in selected key host-countries. Being very cost-effective, we can pass on savings to our OFWs in the form of lower fees and higher exchange rates,” Del Rosario said. “This new online service offers utmost convenience and security, enabling our OFWs to enjoy more free time, while having the peace of mind that their loved ones in the Philippines are receiving the best possible value for their hard-earned money.”
Del Rosario said OFWs and their beneficiaries can also benefit from round-the-clock service support and online fund trackers to help trace the money from initiation of transaction to receiving credit into the account.
Remit2Home is a pioneer in Online Global Money Transfer and offers personalized online money transfers to the Philippines, Sri Lanka, Bangladesh, Kenya, Poland, Mexico, and other countries. It is a service provided by TimesofMoney, with over a decade of experience in e-payments and cross border remittances, and today serving over a million customers worldwide.