I-Remit ties up with Travelex

I-Remit has partnered with Travelex, a leading foreign exchange company, to provide easier remittance services to Filipinos.

In a disclosure to the Philippine Stock Exchange (PSE), I-Remit said Filipino remitters in Bahrain would now enjoy the ease and convenience of sending and receiving money between Bahrain and the Philippines.

The new service will be accessible at all 25 branches across the Kingdom of Bahrain including five airport stores, which offer remittance and FX products.

“Over the course of 16 years, we have emerged as a preferred provider of top quality worldwide remittance, expanding to reach a large segment of the population. We anticipate the synergy created by this partnership in further facilitating remittances for residents of the Kingdom,” said Harris Jacildo, president of I-Remit.

At present, the Philippines ranks as the third largest remittance recipient in the world with over $32 billion received in 2017 alone, according to the World Bank data.

Of that amount, the outflow of remittance from Bahrain to the Philippines was recorded at $224 million.

Travelex managing director for Middle East and Turkey Tom Fane said the company is delighted to partner with I-Remit and bring the Filipino community of Bahrain a great, new product, which will make sending money back home much easier.

“There are nearly 60,000 Filipinos residing in the country and with I-Remit’s brilliant network of pay-out locations across the Philippines and same day service, our customers will really feel the benefit,” Fane said.

In celebration of the new partnership, remitters sending money to the Philippines via I-Remit can avail the best rates in Bahrain over the next three months and enjoy a host of other exciting benefits.