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Bank Muscat enhances remittance service to Philippines

MUSCAT, 25 November 2013 – Bank Muscat, the leading financial services provider in the Sultanate, hosted senior officials from Rizal Commercial Banking Corporation (RCBC), Philippines, as part of efforts to review and enhance remittance services to the Philippines. RCBC was represented by Gary B.Villanueva, Executive Vice President, and Cynthia P.Santos, First Senior Vice President.

The team led by Abdullah Tamman Al Mashani, AGM - Direct & Institutional Sales, called on the Consul General of Philippines in Oman to provide an update on banking initiatives benefiting the Filipino community in Oman. The team discussed various strategies to further enhance remittance services to the Philippines.

The RCBC officials also visited Bank Muscat's dedicated Philippine remittance centre in Ruwi and expressed satisfaction over the services rendered by the state-of-the-art centre which is benefitting the 55,000-strong Filipino community in the Sultanate.

Abdullah Tamman al Mashani said: “The synergy between the leading banks in Oman and the Philippines significantly benefits the Filipino community in the Sultanate. As part of ongoing efforts to expand banking services to customers, especially remittance services, the dedicated Filipino centre offers innovative products and services. As always, Bank Muscat takes the lead in offering value added services to customers, including expatriate customers, of whom the Filipino community represents the fifth largest customer base of the bank. Bank Muscat continuously seeks ways to ensure that customers receive the best products and services."

Bank Muscat customers can remit money to the Philippines through various options provided by RCBC's Telemoney services.

Customers opting for TeLEREMIT need not have an account in any bank in the Philippines. Remittances are sent directly to the beneficiary, who is informed via SMS of the remittance. The money can be collected from any RCBC branch.

The TeLECREDIT option is remittance from one account to another. The remittance proceeds are directly credited to an RCBC account or any other bank account, and are available for withdrawal within 24 hours from any RCBC branch or ATM.

The TeLE Door to Door method is convenient to the beneficiary as funds are delivered directly via courier to the beneficiary's doorstep.

The TeLe Pay facility can be utilised for directly paying utility bills in the Philippines.

RCBC, a private commercial bank in the Philippines was established in 1960 as a development bank. RCBC, along with its various subsidiaries, provides a range of banking and financial products and services, including commercial, corporate and retail banking, credit cards, asset management, treasury, investment banking and micro finance.