Coinstar develops money transfers from Italy with a Philippines bank

Global money transfer services company Coinstar has signed an agreement with state owned bank of Philippines Land Bank to develop remittances business from Italy.

"This is a significant market considering that the Filipino community is the 3rd largest foreign community in Italy, while being of the most dynamic and productive communities in the country. We are looking to expand our Filipino remittance businesses and we appreciate to have Land Bank as a strategic partner in this peculiar market. This strategic agreement paves the way for expanding our cooperation also in the Philippines, where Land Bank is amongst the most respected financial institutions and the strongest player in the rural areas of the country. The agreement signed in Italy is the basis for a wider cooperation also in the Philippines where Land Bank has one of the largest banking network, highly recognized and respected by consumers" commented Mr. Alfonso Grassopoulos, Regional Director of Coinstar Money Transfer for Italy, Greece, Cyprus, Switzerland, Albania and Poland.

Mrs. Elsa Asuncion Lim, Managing Director of LBP Financial Services SpA in Italy added “Through this strategic cooperation Land Bank will offer the Filipino community a new, convenient and affordable way to send money to their families. LBP is continuously expanding its global reach aiming to be aside our people abroad and we always support and promote products and services that are to their benefits."