It is no secret that the Philippines is a remittance economy. Personal remittances, which boost household income and consumption, are actually responsible for 9.3% of gross domestic product (GDP), and 7.8% of gross national income (GNI). A survey done by the Philippine Statistics Authority however revealed some interesting information about remittances -- mainly that domestic remittances are just as important as the international. Of those who sent remittances, almost all, or 98% sent to a domestic recipient in the Philippines.
This very relevant process was made very difficult during strict lockdown, making it difficult to send funds to family members and loved ones affected by the pandemic. Metrobank then took meaningful action to answer this pressing need and have since launched digital domestic remittance service, called “Cash Pick-Up”, for Metrobank clients.
Cash Pick-up allows clients to send funds in real-time through their Metrobank Mobile App to beneficiaries without bank accounts, who can then use a single reference number to claim funds through any of the over 10,200 nationwide outlets of our remittance partners, Cebuana Lhuillier, M.Lhuillier, Villarica, RD Pawnshop, Palawan Pawnshop and LBC.
The process is easy, too! Just log in to the Metrobank Mobile app, press the menu button and tap CASH PICK-UP. Fill in the necessary details, choose the source account for the transaction, and enter the amount for cash pick-up. The app will ask you to review all information input to confirm, and then you will receive a One Time Password (OTP) which will be sent to your mobile phone via SMS. Once you have keyed in your OTP, you and your beneficiary will receive a notification via email and SMS to confirm the status of your transaction.
Send up to PHP30,000 a day per source account, with a service fee of PHP100 per transaction, and your beneficiary will receive an SMS and email notification allowing them to pick up the cash in any branch of our remittance partners, except for Palawan Pawnshop which allows a max pay out of PHP10,000 per day. They need only to present their single reference number and one primary government issued ID for claiming the remittance.
The funds will be available for claiming in almost real time, and is convenient for both sender and recipient. For more information, visit https://metrobank.com.ph/mobile-cash-pick-up.