AUB launches remittance partnerships

MANILA, Philippines - The Asia United Bank (AUB) has partnered with Moscow-based JSC Commercial Bank Unistream in launching the various inbound remittance services to the Philippines. The latter is the organizational and operational center of the international money transfer system, Unistream with 220,000 outlets in 95 countries. It has affiliated companies in the United Kingdom, Germany, Greece and Cyprus. The set of services offered are cash payout, cash-to-account remittances and home delivery both in US dollar and peso. Beneficiaries are notified through short messaging service (SMS). The services are now available in 69 AUB branches and over 3,300 payout locations across the country. It earned $3.9 billion – volume of transfers processing over six million transactions.