Western Union taps Landbank for remittances
Global money transfer services leader Western Union has partnered with state-run Land Bank of the Philippines to make it easier for Filipinos to send remittances.
Hatem Sleiman, Western Union regional vice president for Middle East, said the agreement with Landbank further cements its stronghold in the money transfer services business.
“This agreement will help strengthen Western Union’s presence in these areas of the country, while providing yet another way for consumers to receive remittances whenever and nearly wherever they please,” he said.
The partnership enables consumers around the world to send money directly into personal bank accounts of Landbank customers.
“Nearly 90 percent of overseas Filipino workers came from the rural areas of the Philippines,” he added.
Landbank is the only bank with branches in all 81 provinces of the Philippines, making it the largest formal credit institution with the widest reach in rural areas in the country.
Landbank president and CEO Alex Buenaventura said the tie up with Western Union makes it easier for Filipinos, especially those in rural areas, to connect with the rest of the world.
“With the activation of Western Union account payout capabilities at Landbank, we are providing more options for our account holders with personal accounts to receive money in a fast, convenient and reliable way,” Buenaventura said.