Union Bank Remittance

In line with the governments pursuance of financial inclusion unionbank sought to tackle cross border remittances made by the 10 million filipinos working overseas. Union bank ltd has remittance drawing arrangement with the xpress money one of the global leaders in money transfer service. This was done in partnership with ocbc bank singapores longest established bank using the adhara liquidity management and international payments platform.

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Union bank remittance. Union bank of the philippines unionbank recently became the first philippine bank to successfully pilot blockchain based remittance from singapore to the philippines. Union bank is a member of the swift network for worldwide transfer of funds. Under the agreement bangladeshi expatriates living in different parts of the world now send their money safely and quickly to the beneficiaries in bangladesh. International money transfer services with western union moneygram ria small world wari world remit sending or receiving money across the border is safe fast and easysimply walk into any union bank branch and experience our simpler smarter international money transfer service.

Unionbank of the philippines has successfully conducted a blockchain based remittance test between singapore and the philippines. We also have tie ups with exchange houses in the gulf and a facility for nris to remit funds to any part of india quickly and conveniently. Union bank ltd has the arrangement for the products. According to the world bank remittances back to the philippines amounted to 328 billion in.

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