Insider Spotlight
The bank said the capability gives users more flexibility in managing foreign currency, allowing them to decide when to convert funds based on preferred exchange rates.
Why it matters
The feature is geared toward Filipinos who earn income from U.S.-based employers and clients, including freelancers, virtual assistants and remote workers engaged in cross-border work.
Rather than automatically converting incoming funds into pesos, users can keep their balances in dollars and exchange them when rates are more favorable. This gives them greater control over cash flow and foreign exchange decisions.
From the company release
According to a company release, the hold-and-convert function was developed in partnership with U.S.-based payments solutions provider Meridian. The feature also enables Filipino users and businesses to connect directly with local U.S. payment rails.
The rollout builds on RCBC Pulz’s U.S. Virtual Account feature introduced last year, which allows users to receive international transfers directly through the app without intermediary banks.
Freelancers can share their U.S. Virtual Account details with employers or link the account to existing payroll services.
The new capability extends that functionality by allowing customers to choose when and how their dollar funds are converted into pesos.
What they’re saying
Lito Villanueva, executive vice president and chief innovations and inclusion officer of RCBC, said the new feature reflects the bank’s effort to align its digital services with the evolving needs of Filipinos involved in cross-border transactions.
“These services give customers greater control over their foreign currency funds and allow them to plan better for both everyday needs and long-term goals,” Villanueva said. “They are particularly relevant for Filipinos who receive income from abroad or work with international partners.”
He added that RCBC’s broader digital strategy focuses on making global banking services accessible through a single, integrated platform.
Will Haering, chief executive officer of Meridian, said the partnership aims to simplify U.S.-based collections.
“In our partnership, we aim to provide the fastest and lowest cost way to collect funds directly from senders in America, ideal for freelancers, virtual assistants, and remote workers,” Haering said.
The bottom line
With the addition of the hold-and-convert feature, RCBC is strengthening Pulz’s positioning as a digital banking platform for freelancers and remote workers earning across borders. —Princess Daisy C. Ominga | Ed: Corrie S. Narisma
