Economy August 26, 2020 | 10:40 am

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Top bank makes it easier to send remittances

Santo Domingo.- As part of its constant technological innovations aimed at reducing the use of cash, executives of the Banco Popular Dominicano announced yesterday in a “webinar” with the press that bank customers have a simple mechanism that will allow sending remittances from the United States to their relatives in the country, through bank subagents (pharmacies, hardware stores, grocery stores and other businesses), in their community.

Remittances can be made by the large MoneyGram, Xoom, DolEx and Ria remitters, and will reach Dominicans through the network of banking subagents, which are present in more than 2,000 points of the national territory, as one more measure of your financial inclusion program.

“We have already enabled this facility for our clients,” said Isael Peña, vice president of the Digital Banking area, noting that digital transformation is an evolution at Banco Popular.

Peña explained that Dominicans living abroad only have to inform their family in the country that they have been sent a shipment and provide them with the code or a reference to go to the bank subagent with their personal identification card, be it a pharmacy, hardware store, grocery store and there they will make the payment of your remittance.

“It is, he said, an extremely simple transaction, in which we are going to gradually achieve financial inclusion for the population.” The measure complies with all the mechanisms to deal with this type of transaction that involves amounts of US$275 to US$300.

“In the country, remittances can be received through the 2,497 businesses affiliated to the Subagent Popular network. Transactions through Subagent Popular have increased by 24% since the beginning of the year, especially in this period of pandemic. In June and July, transactions on this channel exceeded RD $ 1,100 million each month, which indicates the convenience of the service for thousands of Dominicans.”

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