The country’s fifth largest lender, Philippine National Bank (PSE: PNB), is waiving the remittance fees for various channels until May 8, 2020. The waiver applies to cash transfers that will be credited to PNB deposit accounts in the Philippines.
PNB President and CEO Wick Veloso said the bank is committed to make remittance convenient and hassle-free for customers. “Waiving the remittance fees is a big help to our kababayans who send cash to their loved ones in our country,” Veloso said. “So starting April 9, Araw ng Kagitingan, until May 8, we would like to do our own simple part in helping them. They are our selfless heroes.”
He adds, “This is especially needed now that the entire world is coping with the economic impact of the COVID-19 pandemic.”
The waiver covers over-the-counter transactions done at the following PNB overseas branches: Los Angeles, Guam, Singapore, Japan, Global Hong Kong, Canada (through PNB-Remittance Company Canada) and Europe. For PNB Europe, remittance fees are also waived for the Web Remit and Phone Remit channels.
Mail-in remittance is covered by the waiver in the areas of New York and Japan. For Japan, remittance fees are also waived when done via ATMs of Mizuho Bank and Japan Postal Bank.
Remittances done through PNB Global Remit (Remittance Centers, Inc.) branches are also free of charge when done over-the-counter and via Web Remit and Phone Remit.
Meanwhile, users of Xchanged remittance app in USA and Guam can avail of free remittance for their first two transactions. XChanged clients can use the following codes: XCHFREE for USA and BEATCOVID for Guam.
Earlier last month, PNB also waived the transactions fees for local money transfer done via Instapay and PESONet.
Clients are encouraged to regularly visit PNB’s official Facebook page (@PNBph) for updates on the latest news and promos.