Azimo updates BDO Remit service, adding instant bank transfers to existing lightning-fast Philippines service.

Azimo relaunches service to the Philippines, enabling BDO Remit customers to instantly receive bank transfers, as well as Cash Pick-up.

 27.02.2017, London- Azimo, the digital money transfer service operating in Europe, today announced a complete overhaul of money transfer services to the Philippines, with a lightning fast instant service via bank transfer.

BDO Remit, the remittance service of the Philippines’ largest bank BDO Unibank, handles all Azimo transfers to the country.  This new service now enables Azimo’s vast user-base to have immediate access to money sent.  Transfers are instant via Credit to BDO Kabayan Savings and other BDO Unibank accounts; and 1 hour for cash pick-up transactions to the Philippines.

The Philippines is estimated to have a population of over 100 million* and an overall GDP of almost $300bn.  But due to the increasing trend of migrant workers leaving the country in order to find work abroad to support their loved ones, the population is in steady decline, with close to 3 million Filipinos** now living abroad.  According to data from the World Bank, Filipinos sent $28.5 billion in personal remittances***, making up just over a tenth of the nation’s GDP.

“The population of the Philippines is in decline year on year with a huge and vibrant diaspora moving away from home in search of a way to support their families.” Said Azimo’s CEO, Michael Kent. “With traditional providers their loved ones would have to wait several days to get much needed support, which, in the case of an emergency or with a bill to pay, is just not good enough.  We’re really pleased to be able to offer them a better, faster way to send and receive money that fits their needs”.

This newly refreshed service from Azimo is also infinitely cheaper when compared with traditional services, due to Azimo’s innovative path to transfer, cutting out middle-men and passing on savings directly to the user.

Along with instant bank transfers, Azimo enables Cash Pick-up through more than 8,000 BDO Remit Cash Pick-up locations in the Philippines including SM locations, M. Lhuillier and Cebuana Lhuilier outlets and other rural bank, and pawnshop partners.

With the largest digital network available, Azimo are constantly updating their service, branching out into new areas and finding ways to keep costs low and increase speed and efficiency for their user-base of over 1 million customers connected to the service.
For more information on sending to the Philippines, visit the Azimo site.

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 *http://data.worldbank.org/indicator/SP.POP.TOTL?locations=PH

** https://psa.gov.ph/tags/overseas-filipinos

***http://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS

About Azimo

Launched in 2012, Azimo is the better way to transfer money around the world, touching millions of people’s lives. Fast, simple and safe, Azimo has the largest digital network in the world, enabling customers to send money to over 190 countries from any internet-connected device.

For more information, visit http://www.azimo.com/

About BDO Unibank

BDO Unibank is the country’s largest bank in terms of total resources, capital, customer loans, total deposits, and assets under management.  BDO Unibank is also a recipient of multiple awards from various local and international award-giving bodies for both institutional and product excellence, including Remittances.  

Through its remittance service brand BDO Remit, the Central Bank of the Philippines has named BDO Unibank the Top Commercial Bank in Generating Remittances from Overseas Filipinos for several years – from 2008 to 2010 and again, from 2013 to 2015.

For more information on BDO Remit products and services, log on to www.bdo.com.ph.