TAGUIG CITY, Philippines — Rizal Commercial Banking Corporation (RCBC) has become the first Philippine bank to roll out a digital banking feature that allows users to hold U.S. dollars and convert them to Philippine pesos in real time, giving customers greater flexibility in managing foreign currency based on preferred timing and exchange rates. This makes Filipino users and businesses directly compatible with local U.S. payment rails.
The service, available exclusively on RCBC Pulz, enables users to retain U.S. dollar balances and convert funds when market conditions are favorable. Developed in partnership with U.S.-based payments solutions provider Meridian, the feature is designed to support Filipinos freelancers, virtual assistants, and remote workers who regularly receive overseas funds from the U.S., including payments from global employers and clients.
The launch builds on RCBC Pulz’s U.S. Virtual Account feature introduced last year, which allows users to receive international transfers directly through the app without intermediary banks. Freelancers can share their account details directly with their employer or link their U.S. Virtual Account to their existing payroll service. The new hold-and-convert capability extends this functionality by giving customers more control over when and how foreign currency is exchanged.
RCBC Pulz serves as the bank’s flagship digital platform, offering services such as cardless and QR-powered withdrawals, cash deposits, in-app unit investment trust funds, bills payment, mobile loading, global remittances, bank transfers, digital check deposits, foreign exchange in eight major currencies, PERA accounts, loan applications, credit card management, and QR-based retail payments.
Lito Villanueva, the Executive Vice President and Chief Innovations and Inclusion Officer of RCBC, said the new feature reflects the bank’s continued push to align its digital offerings with the evolving financial needs of Filipinos engaged in cross-border work and transactions.
“These services give customers greater control over their foreign currency funds and allow them to plan better for both everyday needs and long-term goals,” Villanueva said. “They are particularly relevant for Filipinos who receive income from abroad or work with international partners.”
He added that RCBC’s broader digital strategy is focused on making global banking services more
accessible through a single, integrated platform.
In September last year, RCBC announced its partnership with Meridian to support the growing segment of Filipinos working with global employers and institutions. The introduction of the U.S. Virtual Account marked a key step in positioning RCBC Pulz as a digital banking platform for cross-border financial activity.
“In our partnership, we aim to provide the fastest and lowest cost way to collect funds directly from senders in America, ideal for freelancers, virtual assistants, and remote workers,” said Will Haering, Chief Executive Officer of Meridian.
About RCBC
RCBC is one of the Philippines’ leading digital-centric universal banks. It has redefined banking through award-winning digital platforms: Pulz, DiskarTech, 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 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 around the world to deliver speed, transparency, and reliability in payments, bridging economies and direct global financial access for clients.
