SAN FRANCISCO, CA, February 27, 2015 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, now offers instant deposits to all LANDBANK peso and U.S. dollar accounts. LANDBANK joins BDO, Metrobank and PNB – four of the top five banks in the Philippines – with instant deposit service for Xoom customers.
“Xoom continually looks for ways to improve our service, and this direct partnership with LANDBANK is another example,” said Pia Guter, Xoom’s Director of Marketing for the Philippines. “Customers can rest assured that their loved ones with LANDBANK accounts will receive their money without waiting or having to worry about cut-off times. Xoom customers can send anytime, anywhere, using their computer, tablet or mobile phone. It also takes just seconds to send using the new Xoom mobile app.”
“We are very excited about this new partnership with Xoom. Our partnership will definitely be a big help to Filipinos in the U.S. looking for a fast and very efficient way of sending money back home. Remittances will be processed and credited to their loved ones’ LANDBANK peso or U.S. dollar accounts in real time,” said Rene Eje, Vice President, OFW Remittance Group at LANDBANK.
“We are a partner of the National Government in promoting progress through socially-oriented programs and projects. Overseas Filipinos and their beneficiaries are among LANDBANK’s priority clients because of the roles they play in stimulating our economy,” added Eje.
LANDBANK, the fourth largest bank in the Philippines, is a government-owned bank with a large rural network that serves farmers, fishermen, small to medium enterprises, and microenterprises.
In the past, senders were mindful of cut-off times, arranging their schedule to send during specific times, so their recipient would not have to wait another full day to receive money. Instant deposit in the Philippines means no waiting for either the sender or recipient, making this a fast and convenient service for all Xoom customers. Visit https://www.xoom.com/philippines for more information.
Xoom is a leading digital money transfer provider that enables consumers to send money to and pay bills for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended December 31, 2014, Xoom’s more than 1.2 million active customers sent approximately $6.9 billion with Xoom. The company is headquartered in San Francisco and can be found online at www.xoom.com.
Land Bank of the Philippines is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable.
Over the years, LANDBANK has successfully managed this tough balancing act as evidenced by the continued expansion of its loan portfolio in favor of its priority sectors: the farmers and fisherfolk, small and medium enterprises and micro enterprises, livelihood loans and agribusiness, agri-infrastructure and other agri- and environment-related projects, socialized housing, schools and hospitals. Today, LANDBANK is by far the largest formal credit institution in the rural areas. LANDBANK also ranks among the top five commercial banks in the country in terms of deposits, assets, loans and capital.