Asiatrust targets $7B OFW remittance market

Asiatrust Bank will be tapping the $7-billion overseas Filipinos workers (OFWs) remittance market.

Asiatrust’s remittance program called "Fast Pas!-Remit" is designed to make a difference through focused and personalized servicing of the remittance and other needs of OFWs and their beneficiaries. Through Fast-Pas! Remit, OFWs can send their money through Asiatrust’s remit-tance tie-ups abroad using different payment modes.

Initially, Fast-Pas! Remit will offer a wide array of remittance payment options via credit-to-Asiatrust account, credit to other bank accounts (also known as bank to bank), and door-to-door cash delivery.

Other Fast-Pas! Remit features include acceptance of SSS contributions and payments through remittance tie-ups abroad. In the pipeline, over-the-counter payments of remittances in other accredited outlets (rural banks and non-bank institutions) will be introduced as well as the acceptance of utilities payments in favor of other companies in the Philippines.

The remittance program aims to transform Asiatrust as a major player in the remittance market, which is currently dominated by major Philippine commercial banks.

What is equally important is Fast-Pas! Remit’s inherent mission of acknowledging the contributions of OFWs by providing the benefits of Asiatrust’s remittance program.