Western Union, a global leader in cross-border, cross-currency money movement and payments, announced Metropolitan Bank & Trust Company, one of the leading financial institutions in the country, as its newest direct bank account payout partner for inbound money transfers in the Philippines.
With this activation, receivers of international money transfers in the Philippines can benefit from Western Union’s real-time account payout capabilities to bank accounts in the country. Global senders can continue to send money using Western Union’s digital services in more than 75 countries and territories, or via Western Union’s retail agent network in more than 200 countries and territories.
“Millions of people in the Philippines have access to accounts and are living ever more interconnected digital lives: as a result, they have an increasing expectation for the financial system to keep up with their flexible lifestyles,” said Jeffrey Navarro, head of Philippines, Malaysia, Brunei and Indochina for Western Union.
“At Western Union we meet these expectations by providing a full range of money transfer solutions to a broad spectrum of consumers. With Metrobank we are glad to expand our account payout network, leveraging our joint capabilities to drive seamless solutions for customers,” said Navarro.
Metrobank joins Western Union’s growing network of partners powering international money transfer payouts into accounts. Over the last few years, Western Union has been accelerating connections to bank accounts ensuring robust connectivity for customers. Globally, Western Union has the capability to send to billions of bank accounts and millions of wallets and cards across more than 125 countries and territories, with real-time capabilities in 100 of these countries.
It also offers payout in cash in about 600,000 retail locations in more than 200 countries and territories, anytime.
“As we continue to expand and optimize our global account payout capabilities, we are excited to bring Metrobank on board, leveraging more ways we can jointly serve customers in a way that fits their lives,” said Hassan Chatila, global head of sales and partnerships development, account payout network at Western Union. “Our platform cuts through the international complexities so millions of customers can access their funds in real-time and in a manner that suits their local infrastructure and preferences.”
“At Metrobank our mission is to meet the evolving needs of customers with innovative services,” said Richard So, Metrobank executive vice president and head of products, channels, and overseas banking group. “With our partnership with Western Union, we are ready to meet the rising expectations for convenient money movement into bank accounts, improving customer experience and bringing them the ease and scale they look for when it comes to their money transfer needs.”
According to the World Bank, the Philippines was one of the top five remittance-receiving countries in the world in 2020.
Western Union serves customers via a range of retail and digital solutions in the Philippines, facilitating convenient service access for all. Western Union agent retail network in the Philippines extends to more than 21,000 locations.