First Hawaiian Bank is launching a new service designed to make it easier and more affordable for people in Hawaii to send money to the Philippines.
The YesExpress service, which will launch on Monday, will enable First Hawaiian customers to send funds directly to a bank account in the Philippines or allow recipients to pick up the funds as cash at a favorable exchange rate, the bank said in a news release.
For an additional fee, the funds will be delivered to the recipient’s home.
The bank is making the service available at no charge to its customers from May 3-29 through nine branches on Oahu. After that, it will cost $8 per transaction.
Customers may schedule transfers in advance to be sent out automatically, and a text message can be sent to a recipient when the money is available.
While the new service is currently available only to the Philippines, First Hawaiian plans to offer it to other countries in the future.