DMCI Homes first to adopt BPI's overseas auto-debit solution for US customers

(L-R): Joel De Vera, BPI Head of Strategy, Products and Support; Luis Cruz, BPI Head of Institutional Banking; Alfredo Austria, DMCI Homes President & CEO; and Evangeline Hernandez-Atchioco, DMCI Homes Chief Finance Officer.

Quadruple A developer DMCI Homes has become the first real estate developer to adopt the Bank of the Philippine Islands’ (BPI) Overseas Collection Arrangement, introducing a more convenient way for its US-based customers to make property payments from abroad.

The partnership was formalized recently during a signing ceremony at the BPI Wealth Lounge in Ayala Triangle Gardens Tower 2. Leading the signing were DMCI Homes President Alfredo Austria, DMCI Homes Chief Finance Officer Evangeline Hernandez-Atchioco, BPI Head of Institutional Banking Luis Cruz, and BPI Head of Strategy, Products and Support Joel De Vera.

Through the BPI Overseas Collection Arrangement, DMCI Homes customers in the United States can now pay their monthly amortizations directly from their enrolled US bank accounts. Transactions are settled to DMCI Homes in real time, eliminating many of the challenges associated with traditional overseas remittances.

The new payment facility is expected to benefit Filipino homebuyers living abroad by providing a more seamless and reliable payment experience. It also helps address concerns such as unpredictable transfer timelines and delays caused by foreign exchange processing.

For DMCI Homes, the arrangement improves the efficiency of collecting and reconciling payments from overseas customers. The system provides collection and settlement reports that enable the company to track payments and match them against expected receivables more accurately and promptly.

DMCI Homes and BPI executives during the recent partnership signing ceremony at the BPI Wealth Lounge, Ayala Triangle Gardens Tower 2.

The initiative is part of DMCI Homes' continuing efforts to enhance the homeownership experience for overseas Filipinos, particularly those investing in Philippine real estate while based in the United States.

“The OCA provides us with a more seamless way to manage payments from our US-based customers, while giving us greater visibility over our collections. This helps simplify our collection and reconciliation processes and allows us to better serve our property owners,” said Alfredo Austria, DMCI Homes President & CEO.

Austria said the adoption of the new solution enables the company to further simplify property ownership for Filipinos abroad by making cross-border payments more convenient and accessible.

The BPI Overseas Collection Arrangement was developed through the partnership of BPI, Meridian, and DMCI Homes to streamline collections from the developer's US-based customers.

“We at BPI are more than happy to partner with DMCI Homes to provide the BPI Overseas Collection Arrangement as a solution for the company to be able to streamline collections, particularly for its US-based customers. In the process, the service would also make payments easier for DMCI Homes property owners,” said Edgardo Marcelo, Jr., BPI Transaction Banking Head.

“With the BPI Overseas Collection Arrangement in place, we look forward to DMCI Homes increasing operational efficiency, which would enable it to devote more of its time and resources on developing homes for Filipinos across the country,” he added.

DMCI Homes is the country’s first Quadruple A real estate developer, with projects in Mega Manila, Baguio City, Tuba in Benguet, San Juan in Batangas, Boracay, Cebu City, and Davao City. Each of its properties is built with world-standard craftsmanship borne from D.M. Consunji Inc.’s over 70 years of expertise in the construction and development industry.

To learn more about DMCI Homes’ pre-selling and ready for occupancy projects, units for lease, and special promos, call (632) 5324-8888. You can also visit leasing.dmcihomes.com to know more about opportunities in leasing and rent-to-own programs of DMCI Homes. News and other updates are also posted on the company’s official website and social media accounts on Facebook, X, Instagram, and YouTube.