MANILA, 16 March 2003 — Filipino workers in Hong Kong are now remitting their earnings home through Philippine National Bank’s (PNB) outlets at 7-11 convenience stores, the bank said yesterday.
Over 3,750 OFWs have enrolled so far in the new remittance service barely a week after the program was launched, said Jose Vicente Cuizon, head of the bank’s Overseas Remittance Department.
Cuizon said the success of the Remittance Service Plus via 7-11 would mean the possible adoption a similar scheme in other countries with a substantial number of Filipino workers, such as in the Middle East.
Cuizon said the new service was made possible by PNB’s recent tie-up with Citibank’s Merchant Collection Service. Under the agreement, OFWs can remit at practically every street corner in Hong Kong through any of 7-11’s 480 outlets, 24 hours a day, seven days a week.
PNB president Lorenzo V. Tan said this is “just among the first steps in the bank’s efforts to use technology more creatively to deliver more efficient services to its clients.”
The 7-11 outlets are in addition to the eight PNB branches in Hong Kong that OFWs have been transacting with for many years now, according to a pres statement from the bank.
“It allows OFWs to remit hard-earned money to their loved ones in the Philippines in a much faster, more convenient and accessible way,” said the statement.
PNB Remittance Center general manager Rolando Cruz clients could avail themselves of the new service by registering with PNB Hong Kong, submitting information such as their names and the names of their beneficiaries who maintain on-line deposit accounts with any of PNB’s 324 branches in the Philippines.
Once the information has been verified and recorded, PNB Hong Kong will issue a remitter’s card and a separate card to the beneficiaries, he explained.
During the product launch held at the Conrad Hotel in Hong Kong, OFW leaders endorsed the new service. “No need to sneak out for long hours from our employers just to remit money back home. With this new service from PNB, all we need to do is to go down to the 7-11 store just around the street corner,” community leader Fe Valdeza said.
