Remittances from Pinoys in UK, EU to get easier with bank cash-in: GCash | ABS-CBN

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Remittances from Pinoys in UK, EU to get easier with bank cash-in: GCash

Remittances from Pinoys in UK, EU to get easier with bank cash-in: GCash

Arthur Fuentes,

ABS-CBN News

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MANILA - Filipinos in the United Kingdom and European Union will soon be able to link their international bank accounts to GCash which will make it more convenient to send remittances to the Philippines, the Ayala-led fintech said on Friday.  

"With the new feature, Filipinos can enjoy lower fees and faster transaction times when sending money home, as well as competitive exchange rates and real-time access to funds," GCash said.  

The Philippines' largest fintech firm previously announced that overseas Filipinos could now use foreign-based SIMs to register for GCash accounts.  

"Many Filipinos have chosen Europe and the United Kingdom as their home. GCash hopes to provide their needs and help them connect with their loved ones, as a trusted digital finance partner made for Filipinos, by Filipinos," said Paul Albano, GCash International general manager.

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Last June, GCash said it was allowing cash-ins and remittances from over 12,000 US banks following its partnership with Meridian, a New York-based instant payments technology company.

In September, GCash also announced that it was expanding into the Asia Pacific remittance market with a strategic partnership with Xendit, a leading payment gateway in the region.

GCash is currently valued at $5 billion following new investments from Japan’s largest banking group Mitsubishi UFJ Financial Group (MUFG) and Philippine conglomerate Ayala Corporation.



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