Philippines-based lender BDO has joined forces with Xoom, a digital money transfer provider, to launch an instant bank deposit service that allows Xoom customers to instantly send money into a BDO account.
Earlier, people had to schedule their visit to the bank to deposit their money, but now the task can be performed instantly, claims the company.
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Xoom marketing and corporate development senior vice president, Julian King, said Xoom is committed to providing ‘instant’ in all of their services.
"With our collaboration with BDO, people can rest assured that their loved ones can receive their money without waiting or having to be mindful of cut-off times.
"Xoom customers can send 24 hours a day, seven days a week, every day of the year from their computer, mobile phone or tablet," King added.
In the financial year that ended on 30 September 2013, Xoom reported that over 997,000 active customers have sent more than $5.1bn to relatives and friends in around 30 countries.
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