MANILA — Ayala-led Bank of the Philippine Islands (BPI) has partnered with SingX Singapore Pte. Ltd. to allow clients in Singapore to transfer funds instantly to beneficiaries’ BPI accounts for a fee of $3.75 per transaction.

Through the partnership, users can send money using SingX’s fully digital platform with no transaction limits. Payments to the Home Development Mutual Fund (Pag-IBIG) and the Social Security System (SSS) will be free of charge.

A one-time verification process is required before users can initiate transfers.

“SingX is a strategic partner for BPI because of its innovative technology, global reach, and customer-centric approach,” said Joel De Vera, head of strategy under BPI’s Strategy, Products, & Support Group for Institutional Banking.

“Their platform allows Filipinos abroad to send money home seamlessly through a fully digital experience, aligned with BPI’s commitment to digitalization,” he added.

BPI estimates that about 800,000 Filipinos were residing and working across Singapore, Hong Kong, and Australia in 2024.