Rizal Commercial Banking Corporation (RCBC) has partnered with Meridian, a global based payments networking provider, to launch its newest digital banking product, the RCBC Pulz App US Virtual Account. Using the app, customers can open and manage a US dollar virtual account even without a US address, residency, and social security number.
At the launch event held at the Y Space Museum in RCBC Plaza in Makati last November 7, RCBC President and CEO Reggie Cariaso said that “We are enabling every Filipino, whether a freelancer or an entrepreneur, to connect directly to the US economy. This is financial inclusion made real.”
Through the Pulz App, users can have access to their US account in their own name so they can receive domestic payments from any US-based bank. As a cross-border payment solution, the Pulz App US Virtual account simplifies the process of accepting payments and reduces costly transaction fees.
Also present at the launch was Department of Information and Communications Technology (DICT) Secretary Henry Aguda who expressed support for the app. “This initiative makes global financial inclusion fully within the reach of every Filipino wherever they may be,” he said. Speaking in a mix of English and Filipino, Mr. Aguda also mentioned that there are almost five million OFWs in the US who don’t have credit history and may not have a bank account even if they remit money. Through the app, they now have financial inclusion in their host country.
In his speech, RCBC Executive Vice President and Chief Innovation and Inclusion Officer, Lito Villanueva also said, “We’re not just digitizing existing services, we’re redesigning how money moves across borders. The RCBC Pulz App US Virtual Account embodies our commitment to building a more inclusive, tech-driven, and borderless financial ecosystem.”
Beginning November 11, RCBC Pulz App users can create a US virtual account so they can receive payments and earnings in US dollars which can be easily converted into Philippine pesos (PHP). The virtual account has a monthly aggregate limit of $10,000 per month. — EGG
