The Bank of the Philippine Islands (BPI) has introduced a new remittance service aimed at making money transfers from the United States to the Philippines faster, more affordable, and more secure for millions of Filipino families.
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| Image Source: BPI |
The service, called BPI Remit, allows senders in the US to transfer funds directly from their bank accounts to BPI accounts in the Philippines using the bank’s mobile app or online platform. Transfers are completed within seconds and confirmed through SMS notifications.
Remittance charges are fixed at $1 for amounts below $250 and waived entirely for transactions above that amount. Daily and weekly limits are capped at $700, while the monthly limit is set at $1,000.
For recipients, funds become instantly available in their BPI accounts, which can be accessed through online and mobile banking. BPI also offers exchange rates that it says are competitive with other remittance providers.
The launch comes as BPI prepares to mark its 175th anniversary in 2026.
Joel De Vera, head of strategy, products, and support for BPI’s institutional banking unit, said the service reflects the bank’s effort to strengthen connections between overseas Filipinos and their families back home.
The lender has been promoting the service in US communities with large Filipino populations, including sponsoring events such as a recent concert by Sofronio Vasquez, winner of The Voice Season 26.
According to government data, there are about 4.6 million Filipinos living in the US, making it one of the largest sources of remittances to the Philippines.
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