Rizal Commercial Banking Corp (RCBC) has rolled out U.S. virtual accounts for Filipinos through a tie-up with fintech Meridian, intensifying competition in the country’s fast-growing digital banking space.
The service, accessible through the RCBC Pulz mobile app, gives account holders a U.S. bank account number they can use to receive direct payroll from U.S. employers, client payments for freelancers, and money transfers from relatives abroad.
RCBC said the accounts remove the need for a U.S. address or social security number and allow instant local U.S. transfers, sidestepping remittance fees and delays.
“This isn’t just another app feature. It’s a historic breakthrough,” said Lito Villanueva, RCBC executive vice president. “A true global showcase of open finance.”
William Haering, CEO of Meridian, said the initiative was designed to “make cross-border payments feel local,” calling it transformative for Filipinos.
RCBC has been investing heavily in digital banking, with products such as DiskarTech and ATM Go, and was named by Euromoney as the Philippines’ Best Bank for Digital for six straight years.
