Los Angeles, CA
It’s very common to see Filipinos abroad settle with their fellow Pinoys in small communities, as this provides a sense of security and support. Because they’re so far away from home, being around people who share the same ethnicity and cultural background can help shrink the distance – especially when they’re in places as far as the United States.
The same can be said for money matters, as there are financial services abroad that are ran and managed by their fellow kababayans, who know exactly what their needs are. One of these is the Philippine National Bank (PNB), which has one of the largest branch network in the world.
PNB’s story began in the Philippines in 1916. A year after, they expanded internationally and opened an office in New York. In the succeeding years, more branches were built throughout and outside the Philippines. Fast forward to today and PNB is the only Philippine financial institution within every major city with a high concentration of overseas Filipino workers (OFWs). Their expansions have also paved the way for more products and services, such as remittance centers.
PNB RCI – A “One-Stop Shop” for Filipino Migrants
To cater to the needs of Filipino workers, entrepreneurs, and Fil-Americans, PNB has established the PNB Remittance Centers Inc., with branches found in over 100 locations in the US. Outlets also operate in Canada, United Kingdom (UK), France, Italy, Hong Kong, Japan, Singapore, and some Middle Eastern states. Through PNB RCI, Filipinos can send money to their loved ones for important billings like tuition fees, vehicle purchases, and home loans. With PNB’s safe and secure infrastructure, Pinoys can rest assured that their money is available to their beneficiaries in seconds.
Today’s technology has also made it easier for Filipinos overseas. They can either choose to send money through the Internet using the bank’s online transfer. Remittance through telephone can also be done in US, Canada, and Singapore. Beneficiaries, whose relatives use the phone remit service, will receive a Remittance Text Alert once the transfer pushes through.
The money is automatically forwarded to PNB bank accounts or can be arranged for pick-up. In the latter option, relatives can get their money by getting it from one of the 324 PNB branches, or in one of the 2000 remittance outlets in various towns and barangays in the Philippines. Of course, Filipinos who don’t have a PNB account can use their bank’s services as PNB RCI also credits to other banks with competitive rates and low fees.
PNB’s remittance offices aren’t only built for that sole purpose. Each center is gearing up to be a one-stop shop for Pinoys. Working closely with their PNB sister branches in Los Angeles, CA and New York, NY, RCI also authenticates documents for pensioners, help open PNB accounts, oversee withdrawals, receive bill payments, and provide Philippine home loans. Clients may even forward their PAG-IBIG and SSS payments from these centers.
PNB RCI’s partnership with other Filipino businesses have also increased their line of services. In each center, Filipinos can send packages through any location through XYZ Express Cargo and may book travel arrangements through Mango Tours Inc. Phone cards for Philippine numbers can also be purchased in the remittance outlets.
Every day, PNB searches for ways to enhance their services and tweak them for the specific needs and preferences of Filipinos in and outside the Philippines. As an incentive for first time users and reward for loyal customers, the remittance centers formulate several promotions. Those who visit any remittance outlet and do a first time money transfer may receive a free gift. Prizes may also be given to customers who sign up for the Overseas Bills Payment System within PNB RCI branches.
Moreover, PNB RCI aims to increase their presence in the US. They are currently searching for other agents to work with them. This, they said, is a lucrative source of income for states where PNB has no physical presence. This can also help Filipino business owners to add value to their relationship with their existing customers. More information can be obtained from PNB RCI’s Director Joanne Rivera (jrivera@pnbrci.com).