February 2019, Xpress Money announced its partnership with LBC Express (LBC). The aim was to widen the reach of remittance services in the Philippines. In the past, Xpress Money has already collaborated with trusted names like Cebuana Lhuillier, M Lhuillier, Palawan Pawnshop and BDO to establish a network of almost 15000 locations in the country. By joining hands with LBC, a long-established courier and money transfer service, it has now boosted the number of its agent locations in the Philippines, to more than 16,500.
The Philippines economy has long benefited from substantial financial contributions from its large overseas population. Approximately, 10 million OFWs remit billions of dollars every year to support family and friends in their home country. According to the World Bank’s December 2018 report, some US$34 billion was sent to the Philippines last year, an amount eclipsed only by remittances to India and China. Remittances fuel most households in the Philippines and Xpress Money’s latest offering aims to widen its reach amongst the families of OFWs. Xpress Money’s latest partnership is a gateway for OFWs in the Americas, Europe, the Middle East, Africa and Asia to send remittances, which their beneficiaries can collect at any LBC branch.
Migration is intrinsic to the Philippines and OFWs are keen to find efficient and economical ways to send money home. Xpress Money is committed to connecting Filipinos wherever they are in the world. Versatility is a given with Xpress Money. The money transfer organization provides safe and secure money transfer services at competitive exchange rates. The icing on the cake is Xpress Money’s extensive and growing network of agent locations in the Philippines, where local Filipinos get easy access to cash pay-out service. Further OFWs can leverage our services to send money directly to beneficiaries’ bank accounts and mobile wallets too.
As established players in the remittance we are empathetic towards the struggles that OFWs endure during their expat life. With every money transfer transaction, we ensure the hard earned money, sent by OFWs; reach their loved ones, cocooned in the safety net of Xpress Money’s instant and convenient services.