The new Metrobank World Cash Card, which is also an automated teller machine (ATM) card, offers an alternative and innovative way to receive remittances, a breakthrough from the traditional over-the-counter remittance transactions in the bank or remittance centers. A beneficiary can access remittance funds at over 700 Metrobank terminals or over 4,000 Bancnet and Megalink terminals in the country.
"The card is so convenient because one does not have to fall in line in our branches to get the remittance and not be limited to regular banking hours," Carmelita R. Araneta, head of Metrobank International Offices and Subsidiaries Group, said.
The new card can be used at over a million Cirrus-Maestro ATMs worldwide. The card is free of charge and the prospective remitter or beneficiary can go to selected Metrobank branches and get one right away.
"It’s best for the remitter to get the card before leaving the country. You can immediately give it to your beneficiary at no cost," Araneta added.
For remitters who are already abroad, the card is initially available at selected Metrobank foreign branches and offices. The product can be useful in apportioning remittance funds.
"You can have a separate card for school expenses and another for household needs," declares Araneta. "Capitalizing on Metrobank’s size, stability, and global presence, the Metrobank World Cash Card is the most reliable and secure remittance card product in the market today."
Metrobank has a major share of the total remittance business owing to its remittance offices and partners abroad. Its Superbilis Padala is one of the most known remittance service brands in the market and offers three types of remittances – credit-to-account, over-the-counter payment, and door-to-door delivery.
Metrobank is the largest bank with consolidated assets of P635 billion as of September 2006. The bank has an extensive dometic network of over 550 branches.
It has 33 international branches and offices in Hong Kong, Japan, Korea, Shanghai, Singapore, Taiwan, Americas, Guam, Canada, Austria, Italy, Spain, and the United Kingdom.