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Send money home through easily accessible and widely networked branches

Remittances to Philippines remains resilient through challenging economic conditions, as personal remittances inched up 1.3 per cent to $7.81 billion in the first quarter of 2018, up from $7.71 billion in the same period in 2017, according to the latest Bangko Sentral ng Pilipinas (BSP) data.

Money sent home by overseas Filipinos account for around 10 per cent of the country’s gross domestic product and is a major source of income for family members of expats in the country. The Philippines Peso has also been witnessing some of the lowest exchange rates in some time, and Filipinos are rushing to send money home.

The growth story of the UAE has enhanced the flow of money in and out of the region. Services like currency conversion, transfer of fund between banks accounts, remittances, personal or business loans, financing, and future savings, have all vastly increased over the past few years.

In relation to the increased need for financial services, companies in the region have evolved likewise to cater to the community. LuLu Exchange, an ISO 9001: 2015 certified organisation, with easily accessible and widely networked branches across the region, acts as the go-to financial services outlet for Filipinos.

With products like LuLu Now, which allows immediate credit to designated bank accounts instantly, LuLu Exchange remains at the forefront of technological innovation in this sector. The upcoming LuLu Money app will have various features including instant online transactions, payment tracking in real time and payment history, among others. With plans to move nearly 30 per cent of its transactions on to the digital platform by 2020, LuLu Exchange is committed to remain on the digital fast track.

Besides remittances, customers can exchange foreign currency at competitive rates and avail other value-added services such as credit card payments and mobile top-up for their home country, among others. The organisation also offers its customers the Gold Card, which allows them to obtain a host of benefits at LuLu Exchange bureaus, and discounts at various other shopping and hospitality partners.

LuLu Exchange, which has been voted a Superbrand three years in a row, in 2016, 2017 and 2018, has over 180 branches spread across the UAE, Oman, Kuwait, Bahrain, India, Seychelles, Hong Kong and Philippines.