The service will become available to the public starting in October 2025. Users will be able to open a US bank account without the requirement of a US address, Social Security Number, or US residency.
In an announcement on its 65th anniversary, RCBC stated the Pulz app will display the US bank account alongside the user’s peso account. The app will also connect the account to US payment systems such as ACH and Fedwire.
The company is targeting this initiative toward three main groups. Number one are families in the Philippines receiving money from relatives in the US. Secondly are Filipino freelancers with American clients. Lastly are local employees of US-based companies.
The bank stated the service will provide a faster and more affordable alternative to traditional remittance methods. These traditional methods often involve long queues and high fees.
Lito Villanueva, RCBC’s Executive Vice President and Chief Innovation and Inclusion Officer, described the service as providing financial freedom in a post on LinkedIn. This freedom, he explained, means escaping the delays, fees, and outdated systems of traditional banking.
He explained the practical benefit for freelancers, who could avoid losing 10 to 15% of their hard-earned income to fees.
Additionally, he noted the convenience for family members. They would be spared from travelling for hours simply to claim a remittance.
Lito Villanueva
“For the first time, Filipinos can directly participate in the US financial,” Lito said.
The bank presents this new feature as part of its strategy to make global banking services more accessible to its customers in the Philippines.
