BDO, Manulife extend help to Taal victims

As Taal Volcano continues to put some communities and livelihoods at risk, big financial services companies are doing their share to help the victims.

BDO Unibank Inc., for example, has waived its remittance fees on cash donations that will be sent through the different remittance offices abroad.

For its part, insurance provider Manulife Philippines announced that it was extending the payment period for policy holders in affected areas, citing its “solidarity with Filipinos affected by the Taal Volcano eruption.”

In the case of BDO, the free remittance campaign on cash donations to Taal victims will run until March 31, 2020.

“We know overseas Filipinos, by the very nature of every Filipino, would love to help their kababayan in the Philippines who were most affected by the Mt. Taal eruption through cash donations. BDO is serving as bridge to this by waiving regular remittance fees on donations sent through BDO remit offices. It’s the bank’s way of making sure all donations, every centavo, are spent to buy relief goods,” said Genie Gloria, senior vice president and head of remittance of BDO.

Aside from the different BDO Remit offices, the bank’s global remittance partners are also receiving cash donations for the benefit of the Taal eruption victims, including Remitly, Small World, WorldRemit, Azimo, UAE Exchange Centre, and Xpress Money. Regular remittance charges will apply to these transactions.

BDO has overseas remittance offices and partners across Asia, Europe, North America, and the Middle East. Cash donations sent through BDO Remit offices will be coursed through different foundations, namely: BDO Foundation, ABS-CBN Lingkod Kapamilya Foundation, Inc., GMA Kapuso Foundation Inc., and Philippine Red Cross. In turn, these foundations will facilitate the purchase and distribution of relief goods in evacuation centers that temporarily house the Taal victims.

Manulife, meanwhile, said customers from affected areas would be given an extended payment grace period of 91 days for all life insurance policies issued and assumed by Manulife Philippines, Manulife China Bank Life Assurance Corp., as well as Manulife Financial Plans Inc. pension and education plans, whose due dates fall between Dec. 12, 2019 and Feb. 12, 2020.

Customers from all cities in Batangas are covered by this extension. Santa Rosa, Laguna is also covered alongside Tagaytay City, Alfonso City and Cavite City in the province of Cavite.

“We stand with all Filipino families impacted by this natural disaster. We will continue to closely monitor the situation and continue to look for ways to help make decisions easier and lives better for those affected,” said Richard Bates, president and chief executive officer of Manulife Philippines.