RCBC Pulz Empowers OFWs to Open Accounts with Foreign Mobile Numbers
by Fintech News Philippines December 6, 2023The Rizal Commercial Banking Corporation’s (RCBC) recently launched banking app ‘RCBC Pulz’ has enabled Filipinos from around the world to establish bank accounts using any international mobile number.
This initiative is specifically designed for the more than twelve million Overseas Filipino Workers (OFWs), providing them with access to a variety of digital banking services.
The RCBC Pulz application, available for download from the Google Playstore and the Apple App Store, streamlines the account setup process, with a valid Philippine passport and personal information for registration. Security is a priority, with RCBC validating users via a one-time-password sent to their international mobile number.
The service is particularly beneficial for OFWs, facilitating easier remittance processes. They can transfer funds to either RCBC Pulz or RCBC Diskartech accounts or to any RCBC remittance partner in the Philippines. Moreover, users can fund their accounts from overseas and pay bills directly through the app.
Lito Villanueva
Lito Villanueva, RCBC’s Executive Vice President and Chief Innovation and Inclusion Officer, shared his insights on the new service.
“By reaching out to Filipino expatriates, we connect them both to their loved ones here at home and to the formal banking system which cuts a lot of costs associated with remittances and creates countless opportunities,”
he stated.
Lito also noted the potential for Filipinos abroad to engage with a variety of financial products and services, highlighting the significance of integrating digital banking into everyday life.
RCBC Pulz presents a range of digital banking services, including the Philippines’ inaugural in-app Unit Investment Trust Fund (UITF), Investment Management Account facilities, and foreign exchange services for multiple major currencies.
Additionally, the app offers mobile check deposit, a spend analyser, lower remittance fees, personal loans, and soon-to-be-launched services like instant housing and auto loan applications.
