The Bangko Sentral ng Pilipinas (BSP) has conferred BDO Unibank with a Hall of Fame award under the “Outstanding PhilPaSS Participant Servicing Customer ePayments-Commercial Bank” category during the recently concluded 2018 BSP Stakeholders Awards.
PhilPaSS is a real time gross settlement system that enables individual settlement of payment instructions and at the same time, allows high-value payments through the deposit accounts they maintain with the BSP.
Under the PhilPaSS or Philippine Payments and Settlements System category, the BSP recognizes a participant bank’s performance in terms of volume, frequency, and value of remittances and Customer ePayments transactions sent to PhilPaSS for processing and settlement.
BDO also maintained its top ranking as the “Commercial Bank that Generated the Largest Overseas Filipino Remittances; was named the “Outstanding Partner Bank in the BSP’s Clean Note Policy Campaign”; and an “Outstanding Regional Partner” for the bank’s Cash Hub Center in Bacolod.
BDO has been at the forefront in providing OFWs fast, safe and convenient ways of sending money to the Philippines. Its wide customer reach through its own offices abroad is strengthened by its partnership with various remittance companies and financial institutions across Asia, Middle East, North America, Canada and Europe.
Through BDO’s remittance flagship product BDO Kabayan Savings, OFW beneficiaries can easily receive money sent from abroad. For only P100 initial deposit and a valid ID, clients can open the account, which comes with a passbook and an ATM debit card. The beneficiaries can claim their remittance via Cash Pick-up Anywhere at more than 9,000 locations nationwide including the over 1,000 BDO branches; BDO Remit counters inside SM malls; rural banks and pawnshop partners.