Distribution Channel

Prime Exchange Co. Pte Ltd has arrangements with widely spread delivery Network throughout Bangladesh, India & Philippines to deliver the remitted funds timely & efficiently and make both the remitter & beneficiary happy.

In Bangladesh

Prime Exchange Co. Pte Ltd (PEC) is the subsidiary of Prime Bank Limited, Bangladesh which covers all the areas of Banking. In recognition to Prime Bank’s services, asset quality, transparency in reporting, corporate governance etc., the Bank has been recognized & awarded by many national and international organizations. The Bank has been rated as “AA+” in the long term and ST-1 in the short terms by Credit Rating Information Services Limited (CRISL). Despite being a second generation Bank, within a short span of time, Prime Bank Ltd has created loyal customer base with strategically located domestic Branch network, relationship with correspondent Banks with global reach, and is compliant of regulatory norms under all circumstances. As a pioneer member of Bangladesh Electronic Fund Transfer Network (BEFTN) of Central Bank, Prime Bank can deliver inward remittances swiftly and efficiently through any other Bank under the BEFT Network.

PEC also has drawing arrangements with the following commercial Banks in Bangladesh which provide coverage of her distribution network to the far flung remote corners of the country.

  • Sonali Bank Limited: Sonali Bank Limited is the biggest state owned commercial Bank in Bangladesh in terms of network having more than 1200 branches throughout Bangladesh.
  • Pubali Bank Limited: The Pubali Bank Limited is one of the biggest private commercial banks in Bangladesh having more than 500 branches throughout Bangladesh.
  • Islami Bank: Quick transfer to ReadyCash and Bank accounts.
  • Janata Bank Limited: Janata Bank Limited is one of largest state-owned commercial banks in our country having more than 900 branches in Bangladesh.

PEC also arranges payment through Buro Bangladesh limited.

  • Buro Bangladesh: Buro Bangladesh is one of the biggest NGOs in Bangladesh having around 500 Branches throughout the country. With approval of Bangladesh Bank, they handle remittance payment service on behalf of Prime Bank Ltd.
  • bKash: As per agreement with bKash, one of the leading mobile financial services in Bangladesh, remittances can be sent directly from Singapore to numerous bKash outlets and bKash wallets.

In India

Prime Exchange Co. Pte Ltd initially started sending India-bound remittances through HDFC Bank, India as per Rupee Remittance Arrangement with them. HDFC is the fastest growing private commercial Banks in India. Under the arrangement PEC is able to use HDFC’s remittance software portal to provide remittance service to the Non-resident Indians (NRIs) working in Singapore to send money to India as quickly as possible.

HDFC at present has an enviable network of 2,544 branches spread in 1,399 cities across India. All branches are connected real-time online. Customers in over 500 locations are also serviced through Telephone Banking.

Since 2014, PEC had Rupee Remittance Agreement with ICICI Bank, India & in 2016; PEC has already started sending India-bound remittances through them. ICICI Bank is India's largest private sector bank in terms of Total asset at this moment. ICICI Bank currently has a network of 4,450 Branches and 14,254 ATM's across India, though which, they can provide smooth remittance services throughout India.

In Philippines:

After successfully operating remittance business in Bangladesh & India, PEC has come into Peso Remittance Agreement with Banco de Oro Universal Bank (BDO Unibank, Inc) in order to facilitate Philippines-bound remitters to send money to their near & dear ones at home. BDO is a full-service universal bank in the Philippines.

BDO has one of the largest distribution networks, with more than 1,000 operating branches and over 3,000 ATMs nationwide (including One Network Bank). As of 31 March 2016, BDO is the country’s largest bank in terms of consolidated resources, customer loans, deposits, assets under management and capital, as well as branch and ATM network nationwide .