AYALA-LED Bank of the Philippine Islands (BPI) is expanding its digital banking services with the planned launch of outbound cross-border money transfers through its mobile application in the first quarter of 2027.
BPI said it had partnered with Visa to integrate Visa Direct into the BPI app, allowing customers to send money overseas directly from their mobile devices without having to visit a bank branch or use separate remittance channels.
“As more Filipinos engage globally — whether for work, education, travel or business — the need for secure, real-time, and affordable cross-border payments has become increasingly important,” said Joel de Vera, head of strategy, products and support for institutional banking at BPI.
Under the arrangement, transfers to selected destinations such as Singapore and the United Kingdom are expected to be completed within seconds, while transactions to markets including the United States, Canada and Australia may be processed within the same or the next business day.
The bank said transaction fees could be as low as $5, making international money transfers more accessible and cost-efficient for Filipinos managing overseas financial obligations.
The new feature is expected to benefit more than four million active users of the BPI app.
The bank said that transactions conducted through the BPI app had increased by 28 percent from the previous year, reflecting rising adoption of digital banking services among customers.
The bank also reported a 71-percent year-on-year surge in cross-border and domestic transaction volumes, highlighting growing demand for digital payment and money transfer solutions.
The average daily balance of overseas Filipinos and beneficiary account holders was said to have grown by 22 percent.
Traditional remittance channels often involve multiple intermediaries, longer processing times and higher fees, prompting financial institutions to invest in digital alternatives that offer faster settlement and greater transparency.
BPI said the partnership with Visa was intended to simplify international money transfers by enabling customers to initiate transactions directly within the bank’s mobile application.
“We continuously invest in digital solutions that make everyday financial transactions simpler and more convenient for our clients,” De Vera said.
“Through our partnership with Visa, we are enabling clients in the Philippines to send money abroad with greater ease and confidence directly from the BPI app,” he added.
BPI shares on Thursday gained 15 centavos, or 0.16 percent, closing at P93.00 each.
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