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Remittance: Fund Transfers from Remittance Tie-ups (Exchange Companies)
These are fund transfers solicited by UCPB remittance tie-ups abroad among the Overseas Filipino Workers intended for local beneficiaries.
 
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Special arrangements with exchange or remittance companies defines the operating relationship, depository arrangement and funding requirement for the fund transfers
Payment Orders are received from remittance tie-ups via fax or electronic mail which details the various beneficiaries
Remittances may be paid to the local beneficiary through:
 
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 Issuance of a Manager’s Check
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 Credit to a US Dollar Savings Account
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 Credit to a Peso Checking/Savings Account
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 Other Local Banks
Remittance proceeds are received by the ultimate beneficiary within the same banking day upon receipt by UCPB of the funds before the 2:00 p.m. cut-off time
   


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