SAN FRANCISCO, CA, October 29, 2007 - Philippine banking giant BDO Remittance that has recently merged with Equitable PCI bank (EPCI) and Xoom Corporation, the fastest-growing global online money transfer company, have announced a strategic partnership to revolutionize worldwide money transfers to the Philippines. The tie-up is designed to provide super fast remittances for bank deposits and cash pickups within minutes at all BDO-EPCI branches.
"We welcome Xoom.com to the BDO family. We are very excited to work with Xoom.com to further build the business and extend our reach to more remitters abroad. Our partnership with Xoom.com will now provide faster and more convenient money transfers to our customers. Additionally, we believe that our increased capabilities brought about by the merger between EPCI and BDO shall be instrumental in driving business," said BDO Transaction Banking Group Head, Ismael G. Estela.
With a click of a mouse, money sent to any BDO*-EPCI account by Xoom.com customers will be available to the recipient in just hours. The super fast bank deposit within hours is provided through Xoom's proprietary technology.
Customers also have the option of picking up cash within minutes from over 1,800 BDO locations, including the SM Malls and Cebuana Lhuillier locations.
Xoom ensures that financial transactions coursed through their system are highly secure as the company uses state-of-the-art technology to protect the client's personal data.
"We see a lot of opportunities in this partnership. The partnership with BDO will provide a more convenient remittance for our Filipino clients. BDO's network offers faster transactions and more disbursement options for our customers," said John Kunze, President and CEO, Xoom Corporation.
"BDO has quite an impressive reputation of providing outstanding banking service. Xoom's partnership with BDO-EPCI assures our kababayans worldwide that their money is safe and secure throughout the entire remittance transaction," said Gene Gutierrez, Xoom's Regional Vice President, Philippines.
Through Xoom.com, remitters can easily send money online anytime, without leaving their home or office. Money can be received seven days a week, on extended banking hours through BDO's wide network of remittance channels, like BDO branches, On-Site outlets and SM Forex counters in SM Department Stores, Cebuana Lhuillier locations and supermarkets.
Xoom.com allows individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. For more information about Xoom.com's service in the Philippines, please visit http://www.Xoom.com/philippines.
With the merger of the two of the Philippines' largest banks, Banco de Oro Universal Bank and Equitable PCI Bank, BDO is now one of the country's top universal banks today. As a result of the merger, the bank now offers an extensive nationwide reach commanding a network of more than 600 branches and over 1,200 ATMs in the Philippines.
*Regular bank deposits available for BDO accounts. Bank deposits within hours to BDO accounts coming shortly.