LBC Expands Its Remittance Locations

LBC Express, Inc., the country's leading cargo and courier and money remittance company, is strengthening its remittance presence in the Philippines and abroad through local and international partnerships, with a goal of increasing its remittance locations by 1,000 worldwide by 2013.

LBC's partnerships in 2012 increased the company's total locations to over 3,400 worldwide. Its local presence of over 1,000 branches has been reinforced with additional 1,600 locations agent partners nationwide. Meanwhile, its 14 international fulfillment partners add 794 more network locations, with 253 in the Middle East, 288 in Europe, 107 in Asia Pacific, and 146 in North America.

In July of this year, almost 1,600 new partner branches including its sub-agents were added to the LBC network in Visayas and Mindanao with the signing of Palawan Pawnshop. The reciprocal service agreement makes LBC's Instant Peso Padala (IPP) service available at over 700 Palawan Pawnshop branches and 900 of its sub-agents, while the latter's Express Pera Padala will likewise be serviced at LBC branches.

LBC also signed agreements earlier this year with local financial institutions with a strong international presence in key areas, such as Metrobank, Land Bank of the Philippines, and RCBC. International partners signed include Money Exchange in Spain; Philrem in the UK; Al Ghurair Exchange, Al Falah Exchange, and Speed Remit in the United Arab Emirates; TML Remittance Center and Placid Express in Malaysia; Far East Express and RJ Mart in Taiwan; and Manila Trading in Adelaide, Australia.

To reinforce its other services, LBC's latest partnership is an agreement with Meralco Bayad Center to accept over-the-counter bills payments at all its local branches. The alliance is expected to branch out into other businesses as both companies explore opportunities to strengthen each other's network.

Says LBC President, Fernando G. Araneta, "Strategic partnerships leverage the strengths of all parties involved, and for LBC in particular, opens different corridors and locations for us to accept remittances from all over the world. It also opens avenues for future business opportunities such as outward remittances from the Philippines, as well as tapping other nationalities worldwide."

The global fulfillment agreements involve partners acting as remittance agents for inflows to the Philippines, with LBC acting as the payout partner.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Honda Launches the New Generation BeAT Fi
    Honda Launches the New Generation BeAT Fi

    Honda Philippines Inc. (HPI) recently unveiled its latest offering, the New Generation BeAT-FI eSP Series at the Music Hall of the SM Mall of Asia. Daiki Mihara, President of Honda Philippines, Inc., is confident of the potentials of the New Generation BeAT-FI eSP Series in the local scooter market. “The New Generation BeAT-FI eSP Series is a reflection of Honda Philippines’ continued commitment to provide powerful, safe, fun, and worthwhile driving experience to the growing market of …

  • US to China: Stop reclamation now
    US to China: Stop reclamation now

    The United States yesterday called for an “immediate and lasting halt” to reclamation works in disputed waters in the South China Sea and West Philippine Sea, saying Beijing’s behavior in the area was “out of step” with international norms. To that end, there should be an immediate and lasting halt to land reclamation by all claimants,” US Defense Secretary Ashton Carter told a high-level security conference in Singapore. …

  • Pinoys urged to observe Flag Day
    Pinoys urged to observe Flag Day

    Filipinos are urged to commemorate the significance of the national flag as the country commemorates Flag Day from May 28 to June 12, the nation’s Independence Day. The Philippine flag was first unfurled after the Philippine Revolutionary Army defeated Spanish forces in the Battle at Alapan in Imus, Cavite on May 28, 1898, according to the Official Gazette. “The national flag was yet to be formally announced on the day of that battle. …

  • House urged to probe ‘wash sale’ of treasury notes
    House urged to probe ‘wash sale’ of treasury notes

    Congress should look into what could be the anomalous wash sale of P14.3 billion worth of treasury notes last year by officials of the state-owned Development Bank of the Philippines (DBP), Bayan Muna Rep. Carlos Zarate said yesterday. In a statement, Zarate said the questionable wash sale, covering 28 transactions, might be a fund-raising effort of the Aquino administration for the 2016 elections. The DBP Employees Union (DBPEU) on Friday filed a graft complaint with the Office of the …

  • Qatar court to rule on case of Pinoys charged with espionage
    Qatar court to rule on case of Pinoys charged with espionage

    Qatar’s Court of Appeals is set to deliver a verdict today on the three Filipinos charged with espionage and economic sabotage. One of the three Filipinos who was employed by state-owned Qatar Petroleum was sentenced to death, while the two others who were working at a military base were meted life sentence. The prosecution said the three Filipinos spied by transferring to Philippine officials military and economic information related to the types of aircraft and tanks to be used by the armed …

  • 16 hurt in Jolo police camp blast
    16 hurt in Jolo police camp blast

    Security forces launched a massive hunt for the bombers that set off Friday night two explosives near a mosque inside the Philippine National Police (PNP) Camp Asturias in Jolo, Sulu, injuring 11 police officers and five civilians, including three children. The attack appears to have been well-planned as attackers first lobbed a grenade and waited for responding policemen to arrive before setting off a bigger improvised explosive device (IED). Four of the victims are still in grade school, …

  • POEA seeks close monitoring of Saudi’s situation
    POEA seeks close monitoring of Saudi’s situation

    The Philippine Overseas Employment Administration (POEA) has instructed all recruitment agencies sending Filipino workers to Saudi Arabia to closely monitor the situation in the country because of the escalating hostilities in adjacent Yemen. The POEA issued an advisory instructing recruiters to keep a close watch on the Saudi provinces of Najran, Jizan and Asir, which are situated on the Saudi-Yemen border. The POEA also directed the recruitment agencies to submit a list of all the workers …

  • Army to provide treatment for corporal behind bus hostage incident
    Army to provide treatment for corporal behind bus hostage incident

    The Philippine Army promised mental health treatment for an Army corporal who took at least 20 bus passengers hostage in Camarines Sur on Friday, even as police filed a complaint for slight illegal detention before the Prosecutor’s Office. “If proven that he is mentally unstable, we will not abandon him. Rene Prajele showed signs of being mentally disturbed while in detention at the Del Gallego police station in Camarines Sur, adding that the officers who interviewed him could not get a clear …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options