XOOM Corp. announced last week it now offers instant deposits to all Land Bank of the Philippines (LandBank) peso and US dollar accounts.
LandBank joins Bangko de Oro, Metrobank and Philippine National Bank—four of the top 5 banks in the Philippines—with instant deposit service for Xoom customers, the San Francisco-based digital money transfer provider said in a statement.
Pia Guter, Xoom’s director of Marketing for the Philippines, was quoted in the statement as saying this deal with LandBank is “another example” of her firm’s move to improve services.
“Customers can rest assured that their loved ones with Landbank accounts will receive their money without waiting or having to worry about cut-off times. Xoom customers can send anytime, anywhere, using their computer, tablet or mobile phone. It also takes just seconds to send using the new Xoom mobile app.”
Rene Eje, vice president, OFW Remittance Group at LandBank, was also quoted in the statement as saying the deal with Xoom “will definitely be a big help to Filipinos in the US looking for a fast and very efficient way of sending money back home.”
Eje explained that “remittances will be processed and credited to their loved ones’ LandBank peso or US dollar accounts in real time.” During the 12 months ended December 31, 2014, Xoom said its 1.2 million customers sent approximately $6.9 billion via its platform.