BPI, MoneyGram strengthen tieup

Ayala-led Bank of the Philippine Islands (BPI) has strengthened its partnership with MoneyGram to help ease the burden of overseas Filipino workers affected by the coronavirus disease 2019 or COVID-19 pandemic.

BPI inward remittance head Melinda Dulay said MoneyGram’s decision to waive fees for money transfers from the US, United Kingdom, France, Italy and Spain to BPI or BPI Family Savings Bank accounts is a big help to clients during this global health crisis.

“BPI and MoneyGram both want to provide safe, reliable, convenient, and affordable money transfers for overseas Filipinos. Our tie up with MoneyGram provides valuable service during this challenging situation brought about by COVID-19,” Dulay said.

By using MoneyGram’s digital channels, OFWs can securely send money to their families in the Philippines from the safety and convenience of their homes, Dulay said.

MoneyGram online users in Austria, Belgium, Greece, Ireland, Latvia, Lithuania, Malta, the Netherlands, Portugal, and Slovakia can enjoy a flat rate of 1.99 euros when making direct to bank account transfers to BPI accounts.

Kamila Chytil, chief operating officer at MoneyGram, said the company continues to expand account deposit capabilities to more markets around the world as part of its strategy to accelerate digital growth and mobilize the movement of money.

“This partnership enables millions of consumers in the Philippines to quickly and easily receive money directly into their bank accounts,” Chytil said.

BPI has partnerships with reputable remittance companies around the world.

Many of these remittance partners have agreed to extend waivers or discounts on sending fees to BPI beneficiary accounts to help OFWs and their families amid the pandemic.