Non-Resident Filipinos to Gain Access to U.S. Bank Accounts through RCBC Offering
In a significant move towards making global banking more accessible, Rizal Commercial Banking Corporation (RCBC) is set to launch a new service in October 2025. This innovative service, announced by Lito Villanueva, RCBC's Executive Vice President and Chief Innovation and Inclusion Officer, will allow Filipinos to open a United States bank account through RCBC's Pulz mobile application.
Villanueva, who is renowned for leading RCBC's digital transformation and launching services like RCBC Pulz, shared the news on LinkedIn. The new service is a part of RCBC's strategy to provide its customers in the Philippines with easier access to global banking services.
The service offers a convenient alternative for families receiving remittances, sparing them from having to travel for hours to claim their money. It also caters to Filipino freelancers with American clients, local employees of US-based companies, and others who need easy access to the US financial system.
The Pulz app will connect the US bank account to US payment systems such as ACH and Fedwire. For the first time, Filipinos can directly participate in the US financial system through RCBC's new service, without the need for a US address, Social Security Number, or US residency.
The service aims to provide financial freedom by eliminating delays, fees, and outdated systems of traditional banking. Users will be able to view their US bank account alongside their peso account on the Pulz app.
RCBC has partnered with the global instant payments company, Meridian, to ensure a smooth and efficient service. The service is expected to provide a faster and more affordable alternative to traditional remittance methods.
The service is particularly beneficial for freelancers, who could potentially save up to 15% of their income from fees. It's a significant step forward in making global banking more accessible and affordable for all.
The service is accompanied by a featured image from Freepik. As RCBC continues to innovate and transform the banking landscape, it's clear that they are committed to making a real difference in the lives of their customers.
