RCBC and Meridian Launches the first U.S. Virtual Account for Filipinos
RCBC and Meridian Launches the first U.S. Virtual Account for Filipinos
Rizal Commercial Banking Corporation (RCBC) has announced a novel partnership with Meridian, a global provider of real-time payment solutions, a partnership which has permitted the launching of the RCBC Pulz App U.S. Virtual Account. As the first Philippine bank to offer U.S. virtual accounts, customers will be able to open a U.S. virtual account through the device RCBC Pulz App. Customers of the app will be able to open a U.S. account without a U.S. address, a social security number, or U.S. residency. Users will have a U.S. account in their name which will accept domestically U.S. bank payments, and will be able to instantaneously money transfer to and RCBC Pulz account. Customers will be able to quickly and affordably exchange and transfer boxes of cross-border payments. Money will be instantly accessible on the users RCBC Pulz account and accessible on connected accounts.
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“RCBC has always been about breaking barriers and building bridges especially for the millions of Filipinos with strong ties abroad,” said Reggie Cariaso, RCBC President and CEO. “Through our partnership with Meridian, we are enabling every Filipino, whether a freelancer or an entrepreneur, to connect directly to the US economy. This is financial inclusion made real.”
With an
estimated US$36 billion in remittances flowing into the Philippines annually,
making it one of the world’s top destinations for global payments, RCBC’s
latest offering aims to modernize the experience of receiving money from the
U.S. by providing a more efficient, transparent, and real-time alternative to
conventional money transfer services.
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“Global
payments often take hours or even days, with fees eating into what people
actually receive,” explained Will Haering, CEO of Meridian. “By partnering with
RCBC, we’re creating a seamless, compliant, and secure bridge that lets
Filipinos enjoy the same access, speed, and convenience that US-based users
experience locally. It’s not just about faster transactions, it’s about
leveling the financial playing field to make global payments local.”
The range of traditional digital banking products simply facilitate
cross-border remittances. In contrast to these products, the US Virtual
Account on the Pulz App provides users with real-time access to local
payment systems in the US, a capability that until now has been
restricted to US residents. The border to access real-time payment
systems means users of the Pulz App Account Virtual US Card are able to
receive payments of up to US$10,000 per month which are directly and
securely transferred into the users account which eliminates the need
for time consuming and expensive cross-border transfers.
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“This innovation puts RCBC ahead of the curve in the region’s digital banking race,” noted Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer. “We’re not just digitizing existing services, we’re redesigning how money moves across borders. The RCBC Pulz App U.S. Virtual Account embodies our commitment to building a more inclusive, tech-driven, and borderless financial ecosystem.”
The initiative also earned strong support from the
government, recognizing its role in advancing the country’s digital
transformation agenda.
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Work and digital payments have changed considerably over time. Value and convenience become critical with more Filipinos offering freelance and gig services to US clients, and more than 4 million Filipinos in the US as either permanent immigrants or temporary workers. Pay and cross-border payment management particularly allure gig workers.
Starting November 11, Filipinos will gain access to their first US virtual accounts right in the RCBC Pulz app and will, thereafter, be able to earn in and USD and exchange their earnings to PHP as easily as in their peso accounts.
For the families left behind in the Philippines, this means support is readily available to be sent, and love payments from family across the U.S. to be received without the exorbitant waiting time, conversion costs, and loss associated with payment channels in remittance services.
RCBC has been
widely recognized for its digital-first approach and inclusive innovations. Its
award-winning RCBC Pulz App, DiskarTech, and ATM Go platforms have set
benchmarks for financial inclusion, offering easy onboarding, goal-based
savings, and AI-powered financial education tools to millions of Filipinos.
The partnership
with Meridian underscores RCBC’s continuing mission to push the boundaries of
digital banking, both locally and globally through cutting-edge digital banking
infrastructure.
“We are proud
to partner with RCBC as the first bank bringing this transformative
payment innovation to life and make U.S. accounts available across the
Philippines,” said Haering. “Our shared vision is to eliminate borders in
banking so that global payments become local, driving opportunity, income, and
progress for people in the Philippines.”
“Banking should move at the speed of life,” Villanueva concluded. “This partnership with Meridian is more than a new product, it’s a promise to every Filipino that wherever you are in the world, your financial future is within reach.”
About RCBC
RCBC is one of the
Philippines’ leading digital-centric universal banks, backed by a 20% stake
from Sumitomo Mitsui Banking Corporation. Since 1960, it has redefined banking
through award-winning digital platforms: Pulz, DiskarTech, Tap-to-Pay, and ATM
Go serving millions from grassroots to global markets. Globally recognized for
financial inclusion and innovation, RCBC is a six-time Euromoney Best Bank for
Digital winner (2020–2025), recipient of the Gartner Eye on Innovation Award,
and Sustainable Innovator of the Year at the Singapore FinTech Festival.
About Meridian
Meridian is a global leader
in instant cross-border payment systems, connecting leading financial institutions
directly to the domestic payment rails in the U.S., Europe, the UK, and the
UAE. By enabling real-time cross-border deposits and eliminating the delays and
high costs of legacy correspondent banking, Meridian makes international
payments as seamless as local transfers. Headquartered in the United States,
Meridian partners with leading financial institutions across the globe to
deliver speed, transparency, and reliability in payments, bridging economies
and unlocking new financial access for millions.
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