The Bank of the Philippine Islands (BPI) has partnered with PERA HUB, a leading cash and payment-related transaction center, to provide remitters abroad more options to send money to loved ones in the Philippines. During these challenging times, this partnership enables more Filipinos to have greater access to cash for their immediate needs.
PERA HUB, a brand managed by PETNET Inc., which is majority-owned by subsidiaries of the financial services business unit of Aboitiz Equity Ventures Inc., is BPI’s new addition to its existing cash pay-out partners. It has over 3,000 sub-agent partner locations and 243 company-owned locations across the Philippines.
Reggie Cariaso, Head of Corporate Banking Strategy, Products, and Solutions, said the PERA HUB locations are additional pick-up points to the bank’s over 800 BPI and BPI Family Savings Bank branches nationwide and accredited cash pick-up outlets in over 5,800 locations across the country.
“BPI has always been focused on catering to the needs of overseas Filipinos. Given the COVID- 19 situation, we saw an urgent need to extend our reach and provide better access for our overseas clients. This partnership with PERA HUB will make the sending and receiving of money a lot easier,” said Cariaso.
PERA HUB will prove to be useful to remittance beneficiaries who wish to pick up remittance funds but are located in remote areas with limited BPI ATMs or branches. Beneficiaries can now receive remittances sent through BPI accredited tie-ups via PERA HUB pick-up outlets nationwide.
“PERA HUB has always been at the forefront of making financial services accessible to every Filipino. With over two decades in the remittance business, partnering with BPI is a strategic initiative for us to serve more customers in our branches. Together, we make each Filipino family closer to their OFW relatives through their remittances. This partnership is a testament to our commitment to the communities that we serve,” said PETNET President and CEO Adrian T. Ocampo.
BPI Remittance products and services are designed to enable Filipinos to exercise greater control of their hard-earned funds and help them save to achieve their financial goals. With this partnership, BPI and PERA HUB benefit from the access to each other’s networks and client base for a growing remittance business.
The 168-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by a stringent compliance and risk management regimes. BPI has investment-grade ratings of BBB+ (S&P), Baa2 (Moodys), and BBB (Capital Intelligence), and BBB- (Fitch).
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