PNB waives fees for OFW remittances

April 13, 2020
Philippine National Bank

The Tan-led Philippine National Bank  is allowing Filipinos overseas to send money to their families who have PNB deposit accounts in the Philippines free of charge from April 9 to May 8.

In a statement, PNB president and chief executive officer Wick Veloso said this is the bank’s way of helping “our selfless heroes.”

“Waiving the remittance fees is a big help to our kababayans who send cash to their loved ones in our country,” Veloso said.

He said this assistance “is especially needed now that the entire world is coping with the economic impact of the Covid-19 (coronavirus disease 2019) pandemic”.

Fees that would be waived are for remittance transactions that will be done over the counter through the bank’s branches in Los Angeles, Guam, Singapore, Japan, Global Hong Kong, Canada through PNB-Remittance Company Canada, and Europe.

The bank said for PNB Europe, transactions done through the Web Remit and Phone Remit channels are also waived and mailed-in remittance is covered by the waiver in the areas of New York and Japan.

Fees for remittances from Japan that will be coursed through the automated teller machines of Mizuho Bank and Japan Postal Bank would also be waived.

Sending money through the bank’s remittance centers, PNB Global Remit, is also free of charge when done over the counter and through Web Remit and Phone Remit.

Users of the Xchanged remittance app in the US and Guam are also provided a free remittance fee for their first two transactions by using the codes: XCHFREE for US and BEATCOVID for Guam.

The bank earlier waived transaction fees for local money transfer made through Instapay and PESONet, the electronic fund transfer platforms being used to help push the government’s bid to increase electronic payment transactions in the country.