Transfast, Land Bank to offer real-time instant transfers to the Philippines
Transfast, a provider of cross-border payments solutions, has joined forces with Land Bank of the Philippines.
The deal will allow customers across the world to make real-time instant transfers into LandBank accounts anytime.
Under the partnership, Filipinos living in the US and Canada can use Transfast to directly deposit money to the LandBank accounts of their beneficiaries in the Philippines via mobile, online or in-person 24/7, 365 days a year.
Beneficiaries can receive funds directly to their bank accounts or collect money within minutes at over 17,000 locations across the Philippines, Transfast said in a statement.
Transfast added that real-time deposits will be available in Pesos or in US dollars. The agreement between the two parties was signed at LandBank’s offices in Manila.
LandBank president and CEO Gilda Pico said: “We welcome this partnership with Transfast that allows us to provide our kababayans around the world a safe and affordable facility to make real-time deposits to the LandBank accounts of their beneficiaries in the Philippines.”