United Arab Emirates: RAKBANK recently enhanced its current remittance footprint in the Philippines by partnering with BDO Unibank, a full-service universal bank in the Philippines. The Bank’s RAKMoneyTransfer (RMT) services will now enable customers to make instant, frictionless, and secure money transfer services to any bank account in the Philippines through RippleNet. This RMT service is free of charge until February 29, 2020.
Peter England, RAKBANK CEO, said, “We, at RAKBANK, are committed to increasing our international remittance footprint and are delighted to enhance our RMT services into the Philippines, thanks to our partnership with BDO. This partnership aims to offer the Filipino expat community here in the UAE the ability to safely and instantly remit money back home at competitive rates with zero back-end charges and no hidden fees.”
BDO Unibank for its part says its connection to RippleNet has broadened its worldwide reach to financial institutions and clients. Through RippleNet, BDO Unibank is now connected to RAKBANK, which has become Philippine’s bridge to offering banking and financial services to the Filipino expat community in the UAE.
RippleNet’s global network of banks and financial institutions enables secure, faster, and lower-cost payments around the world. The transactions can be done using the RMT service via RAKBANK’s award winning digital banking platform. The comprehensive digital service is available 24X7 all year round.
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About RAKBANK
RAKBANK, also known as The National Bank of Ras Al Khaimah (P.S.C), is one of the UAE’s most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from purely corporate to retail and small business banking. In addition to offering a wide range of Personal Banking services, the Bank increased its lending in the traditional SME, Commercial, and Corporate segment in recent years. The Bank also offers Islamic Banking solutions, via RAKislamic, throughout its 36 branches and its Telephone and Digital Banking channels. RAKBANK is a public joint stock company headquartered in the emirate of Ras Al Khaimah and listed on the Abu Dhabi Securities Exchange (ADX). For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.
About BDO Unibank
BDO Unibank is a full-service universal bank in the Philippines. It provides a complete array of industry-leading products and services including Lending (corporate and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management and Remittances in the Philippines. Through its local subsidiaries, the Bank offers Investment Banking, Private Banking, Leasing and Finance, Rural Banking, Life Insurance, Insurance Brokerage and Stock Brokerage services. BDO’s institutional strengths and value-added products and services hold the key to its successful business relationships with customers. On the front line, its branches remain at the forefront of setting high standards as a sales and service-oriented, customerfocused force. BDO has the largest distribution network with over 1,300 operating branches and more than 4,000 ATMs nationwide. Through selective acquisitions and organic growth, BDO has positioned itself for increased balance sheet strength and continuing expansion into new markets. As of 30 June 2019, BDO is the country’s largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide. For more details, visit www.bdo.com.ph
For media enquiries, please contact:
RAKBANK
Fatima Kloub
Fatima.kloub@rakbank.ae
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