Metrobank and PERA HUB increase their collaboration

by Janine Mayers · Published October 13, 2022 · Updated February 13, 2024

26 July 2022

PERA HUB branches are now able to facilitate the transfer of funds to an account held at Metropolitan Bank and Trust Co. (Metrobank) on behalf of customers as a result of an expanded partnership between the lender and the remittance company.

According to a statement released by the bank on Tuesday, customers who want to transfer funds to other individuals who have accounts at Metrobank and PERA HUB can do so by going to the location that is most convenient for them, filling out a remittance form, and providing a valid form of identification to a PERA HUB representative in order to transfer funds to the recipient’s account.

Senders are only charged P100 for each transaction, and they are able to send up to P25,000 total. Receivers are able to quickly and easily withdraw their money in the interim from any automated teller machine (ATM) or over-the-counter machine located within a Metrobank branch.

It was reported that Richard So, an executive vice president at Metrobank and the head of the retail banking sector, said the following: “This value-added service with our partner, PERA HUB, demonstrates that Metrobank remains committed to our customers, improving our services and providing them with more accessible and convenient channels to conduct their financial transactions with us.”

Metrobank and PERA HUB has stated that it has been collaborating in order to provide Filipinos with easy access to remittance channels. This will allow Filipinos to send money to their loved ones no matter where they may be located.

PERA HUB, which is a retail brand owned by Petnet, was created with the intention of catering to the requirements of Petnet’s growing market by providing supplemental services and products. These additional services and products will include microinsurance, foreign exchange, bill payment, plane tickets, cell phone loads, and other remittance and payment-related options.

Metrobank asserts that its capital ratios are among the highest in the industry, with its overall capital adequacy standing at 18.5 percent and its common equity tier 1 standing at 17.6 percent. Metrobank was one of the most powerful and well-capitalized financial institutions in the country as of the end of March 2022, when its consolidated assets reached a total of P2.6 trillion.