RAKBank increases Phillippines presence through RippleNet

• RAKBANK also joined hands with BDO Unibank of the Philippines to power remittance transactions.
• BDO Unibank noted that with the help of RippleNet, it has broadened its worldwide reach to financial institutions and clients. 

Dubai’s RAKBank has recently partnered with BDO Unibank, a full-service universal bank in the Philippines. The collaboration will help RAKBank enhance its current remittance footprint in the country. Through RippleNet, the bank’s RAKMoneyTransfer (RMT) services will now allow customers to make money transfers quickly and securely. The RMT service is free of cost till 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 noted that with the help of RippleNet, it had broadened its worldwide reach to financial institutions and clients. The bank noted in particular that the Filipino expat community in the UAE can leverage the RippleNet to access Unibank’s financial services.