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PNB ForEx goes online, real time
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Posted on Oct 25 2005
PNB Foreign Exchange launched on Monday their innovative remittance service that will allow PNB account holders in the Philippines to receive money from their family members in the CNMI in just five seconds.
Branch manager Con Pobre said the new system, called the Integrated Remittance System, had just been installed and specialists flew in from Manila to oversee the implementation of the project.
“This IRS is an online system where a remittance is transmitted simultaneously to a PNB account. This would assure OFWs [overseas Filipino workers on] Saipan of a faster, if not the fastest, means of sending money back to their beneficiaries in the Philippines,” Pobre said.
Even better, the remittance can be withdrawn from any of PNB’s broad network of 324 branches across the archipelago.
“The process is made most convenient for OFW beneficiaries,” Pobre said.
PNB has the largest remittance network in the world with 97 overseas branches.
“The bank’s recent award as the Best Commercial Bank of the Year for the highest reported OFW remittance, is an attestation to its worldwide OFW acceptance,” Pobre said.
PNB vice president Cely Panganiban and IT manager Maria Theresa Reyes are currently in town to ensure the smooth launching of the breakthrough service.
“Early remitters happily viewed their remittances which only took five seconds to be credited to their beneficiaries’ accounts,” said Pobre.
Besides this new Rapid Remit service, PNB still offers premium services on its Payment at PNB Counters, Door-to-Door Remittance Delivery and Credit to Other Banks.
