MoneyGram International said Monday that it will soon introduce a cash-to-account transfer service in the Philippines.
The service, which will go live on May 31, allows consumers to send cash from MoneyGram locations or online.
The recipient would receive the funds in a bank account. Cash could then be withdrawn from the account at an automated teller machine.
Initially the service will be available to recipients who bank at Banco De Oro Unibank Inc. and 19 other banks in the Philippines.
MoneyGram plans to promote the service in U.S. cities that have large Filipino populations, such as New York; Bergenfield, N.J.; Galveston, Texas; Miami and Fort Lauderdale, Fla.; Honolulu; Las Vegas; and Los Angeles.
MoneyGram also offers the transfer service in Poland and Mexico.
