Introduction
The Philippines is one of the biggest international remittance-receiving countries, ranking fourth in a World Bank report in 2022. However, others might be unaware that the country’s domestic remittances are just as active, with the older population being the top recipients. With many Filipinos relying on said inflows, remittance centers like Cebuana Lhuillier are crucial.
In the past, transacting remittances required several steps: the sender would have to visit a Cebuana branch (or a partner remittance center) to drop their cash there. The recipient should then go to a payout center in their location to pick up the money. Thankfully, the process today is easier as Cebuana’s Remit-to-Account service and mobile app enable people to send money directly to bank accounts from a Cebuana Lhuillier branch or online. How exactly? Read the rest of this article to learn more.
Benefits of Sending Money Directly to a Bank Account
Bank accounts have become more accessible in the past years as online banking became a priority service for brick-and-mortar and digital banks across the country. Consequently, this development allowed account holders to receive cash instantly and enjoy the following benefits:
Convenience
Sending money to a bank account means recipients do not need to go to a payout center to claim their cash. Provided that the senders input the correct information, the money being sent will go straight to the receiver’s bank accounts. This convenience is essential when people cannot make it to a Cebuana branch or need funds for digital transactions.
Speed
Direct bank account transfers are instantaneous thanks to Remit to Account, a branch-to-account service by Cebuana Lhuillier, and Instapay, an electronic fund transfer (EFT) service overseen by the country’s central bank. These services enable Filipinos to transact in real-time, which is crucial during financial emergencies and urgent online payments.
Security
When money is sent to a bank account electronically, the recipient does not need to carry large amounts of cash. This scenario often occurs when they claim physical money from a Cebuana branch. Sending the money to their accounts instead gives them control over how much to cash out (if necessary) or keep all their transactions cashless.
4 Easy Ways To Send Money to a Bank Account From Cebuana Lhuillier
Some situations require sending cash via on-site transactions in a Cebuana branch. It could be that the sender is in a location with patchy connectivity, and a Cebuana branch is right there, or that they want to send funds through the eCebuana App. Below are steps on how to send money to a bank account from Cebuana Lhuillier depending on the service used:
Branch To Bank Transfer via Remit To Account
Cebuana allows money transfers to bank accounts via in-person transactions through the Remit to Account (RTA) service. This method is linked to BPI and Metrobank, partner banks that allow direct deposits from remittance centers. The steps to transfer money from a branch to account holders are as follows:
- At a Cebuana branch, request a Pera Padala form and complete the required details.
- Ensure that the recipient’s bank account information is correct.
- Present the completed form and a valid ID to the branch personnel.
- Present a 24K card to earn points.
This method leverages the institution’s over 3,500 branches nationwide. With such a presence, a sender’s location will likely have a Cebuana payout center ready to process money transfer requests.
Branch To Bank Transfer via eWallet Cash In
Cebuana Lhuillier also partnered with e-wallet companies GCash and Maya to allow users to transact cash-ins over the counter. They need only to open their e-wallet app and follow the cash-in instructions. After adding funds to their mobile wallet, they can transfer cash to fellow e-wallet users for fast, no-charge transactions.
Note that GCash users can enjoy free-of-charge cash-ins for over-the-counter transactions of up to P8,000 monthly. Any amount exceeding that will incur transaction fees, the cost of which depends on the Cebuana branch.
eCebuana To Bank Transfer via Instapay
Users of the eCebuana app can conveniently transfer funds directly to a bank account via Instapay. This method is also part of the Remit to Account service, which allows customers to send money instantly to account holders. The app allows users to transfer to BDO, China Bank, Security Bank, Union Bank, and more.
Likewise, senders can transact bank transfers to send cash to fellow Cebuana Micro Savings account holders free of charge. The in-app process using the eCebuana App is simple: the sender can search for Cebuana Lhuillier Rural Bank from the bank options, input the recipient’s account number, and authorize the transfer via a passcode or biometric scan.
eCebuana To Bank Transfer via QR Code
Another helpful feature of the eCebuana App is the QR Code option. Senders who want to make a Cebuana Lhuillier bank transfer can generate a QR code in-app and send the image to the recipient for scanning. Using QR codes is also convenient when paying digitally, thanks to a standardized QR code payment service implemented in the country.
Experience Convenient Money Transfers and More With Cebuana Lhuillier
Cebuana Lhuillier continues to help Filipinos send and receive funds, from its early days of on-site transactions to modern digital bank transfer options. Today, users have a wealth of choices for sending money to their loved ones via Cebuana, including branch-to-branch, branch-to-account, and account-to-account methods.
In addition to money transfers, Cebuana offers services that help Filipinos access financial services more efficiently. Each branch enables easy loans via pawning and microloans, simple savings account opening via Cebuana’s Micro Savings, and inclusive payout services via international and domestic remittance and on-site cash pick-ups. With its 3,500+ branches nationwide, Cebuana helps make micro-financial services reachable for more Filipinos, specifically the unbanked and underserved.
Conclusion
Filipinos who want to send money to a bank account from a Cebuana Lhuillier branch have many transaction options. They can transfer money directly to an account, complete cash-ins over the counter, or use their mobile apps to send cash via Instapay and QR code. Regardless of the method, Cebuana ensures that sending money is highly accessible to its clients, including the unbanked and underserved.
Visit a Cebuana Lhuillier branch today to experience money transfer convenience!