247 RemitPlus is a multi-application and multi-tenant computer software for remitting money and paying bills among others. OFWs to send money for their Family Members or Relatives in the Philippines via Cash Pickup at BayadCenter, Palawan Pawnshop and Puregold or thru Fund Transfer to more than 50 banks in the Philippines like Banco De Oro, Bank of Philippine Islands, Metrobank, Philippine National Bank, Land Bank of the Philippines and RCBC.
The salient features of 247 RemitPlus includes but not limited to the following:
- Daily Transaction Limits and Transaction Controls
- Compliance rules can be adjusted in accordance to the enabling laws of each country on anti money laundering and financing terrorists.
- Identification and Records Keeping Control
- Audit Trail Management
- Backtracking of Fraudulent Transactions for 5 years or more
- Anti-Money Launderer & Terrorist Interdiction Program
- Contain updated listings of OFAC, HMT and INTERPOL
- Monitor Contained Transactions, Aggregated Transactions and Suspicious/Fraudulent Transactions
- Automatic Suspension due to following:
- Whenever spurious names match those identified in the 247 RemitPlus
- Failing to fill up the required data and information of Senders or Beneficiaries
- Send SMS alert or Email Notification to BSP / AMLC upon detection of contained transactions and/or aggregated transactions and/or suspicious transactions and/or whenever spurious names match those identified by 247 RemitPlus.
247 RemitPlus can be used for the following:
- Funds Transfer
- Cash withdrawal (thru ATMs, Banks, or Mohur Agents and other MTOs
- Bills Payment
- Salary Disbursement
- Remittance Agents
- Retailers (drugstore, supermarket, petrol stations, etc)
- Reload of call cards, debit cards, and cash cards among others
- Loyalty / reward cards