Amended Annual Report for the year ended 31 December 2011 (17-A)

Principal Products and Services
Through the years, I-Remit has developed products and services that cater specifically
to the various remittance needs of OFWs and other migrant workers as follows:
Bank-to-Bank A facility for “same-day” online crediting to a bank
account in the Philippines. A remittance received
before 12:00 noon Manila time may be withdrawn by
the designated beneficiary from any BancNet,
MegaLink, or ExpressNet automated teller machine
(ATM) on the same day of the remittance transaction.
BancNet has 44 member banks and 15 subscribers
and almost 4,000 ATMs nationwide. Megalink has 22
members, 2,921 ATMs, and 17,000 POS terminals
nationwide. ExpressNet has five (5) member banks
and 3,113 ATMs nationwide.
Door-to-Door Delivery of cash remittances to designated
beneficiaries through third party couriers. I-Remit has
the widest delivery reach nationwide, capable of
delivering cash remittances within the day for
beneficiaries in Metro Manila and the province of Rizal.
Next-day deliveries may be made in the following cities
and provinces: Batangas, Bulacan, Cavite, Cebu,
Davao, Laguna, La Union, Pampanga, Pangasinan,
Tacloban, and Tarlac. Deliveries in other remote areas
may be made in two (2) to three (3) days or more
depending on the actual location of the beneficiary. I-
Remit can deliver in 17 regions, 79 provinces, and 136
cities and municipalities in the country.
Notify-to-Pay Allows a beneficiary in the Philippines to pick-up a
remittance in any of I-Remit’s 6,247 pay-out stations
nationwide within 24 hours. These designated pay-out
stations number 2,006 in Metro Manila, 1,918 in the
rest of Luzon, 1,366 in the Visayas, and 957 in
Mindanao. I-Remit has tied-up with the following
institutions whose branches serve as pay-out stations:
Allied Banking Corporation, Asiatrust Development
Bank, Bank of the Philippine Islands, Bayad Center,
Cebuana Lhuillier, China Banking Corporation, Land
Bank of the Philippines, Philippine National Bank,
Mindanao Capital Corporation, ML Kwarta Padala, One
Network Rural Bank, Inc., Philippine Savings Bank,
Philippine Veterans Bank, Premiere Development
Bank, Prime Asia Pawnshop, Rural Bank of Malinao,
Saint Sealtiel Services, Inc., Security Bank
Corporation, Sterling Bank of Asia, Inc. (A Savings
Bank), Tambunting Pawnshops, Union Bank of the
Philippines, Maybank Philippines, Inc., United Coconut
Planters Bank, UCPB Savings Bank, Rural Bank of
Malinao, and Wilmon Group.
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