I-Remit, Inc., the Philippines` largest Filipino-owned non-bank international remittance company with a growing network of remittance centers in 25 countries worldwide and the BOCMNL formally announced their partnership in a Remittance Agreement last September 22 at Clermont, Discovery Suites.
The Remittance Agreement between the two financial institutions will benefit thousands of customers based in the United Kingdom who wish to send remittances for their families in China. I-Remit offers same day processing of remittance which beneficiaries in China can withdraw from any of the Bank of China`s over 12,000 domestic branches.
“This partnership with the BOCMNL is instrumental for I-Remit to serve the needs especially of the Chinese customers based in the United Kingdom for fast and reliable remittance services and to achieve I-Remit`s goal of expanding its business in mainland China.” according to Harris Jacildo, President and Chief Operating Officer of I-Remit, Inc.
Founded in 1912, Bank of China Limited (BOC) is one of China`s four state-owned commercial banks that provides a comprehensive range of high-quality financial services and has expanded with branches on every major continent outside of mainland China. It operates in 26 countries including Canada, United Kingdom, Australia, France, Germany, Italy, Luxembourg, Holand, Russia, Hungary, United States, Panama, Brazil, Philippines, Japan, Republic of Korea, Singapore, Vietnam, Malaysia, Thailand, Indonesia, Kazakhstan, Bahrain, Zambia, South Africa, Cayman Islands and also in Hongkong and Macau Sepicial Administrative Regions.
“This move signals a more aggressive expansion program for I-Remit. Now, we are not just catering to Filipinos but to Chinese nationals around the globe. We`re expanding the scope of our capabilities to connect people and their remittance needs, paving the way to be the remittance provider of choice globally,” said Jacildo.
The Remittance Agreement will initially take effect in the United Kingdom, but this will soon start in Canada, Australia and other foreign offices.
The agreement was made official by Bansan Choa, Chairman and CEO, Harris E.D. Jacildo, President and COO, Adolfo Suzara, Excom Chairman and Gilbert Gaw, Director, on behalf of I-Remit Inc., and Sun Baoxiang , General Manager and Luo Yong , Manager of Cash Department, representing the BOCMNL.