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News and Events

How Much Are Banks Charging for Electronic Fund Transfers To Other Financial Institutions?

Fees vary per bank, and some offer the service for free

In a memorandum issued on September 4, the Bangko Sentral ng Pilipinas (BSP) required all financial institutions offering online banking services to introduce options for interbank electronic fund transfers (EFTs) by November 30.This will allow depositors in any Philippine bank or non-banking ...

by Lorenzo Kyle Subido  | September 20, 2018 03:00:00
News and Events

Is Male Dominance in Banks and Financial Services Coming to an End?

A JobStreet report looks at gender equality across various industries

As stereotypes go, it’s not difficult to understand why the impression that men dominate the top positions in the country’s banks and financial institutions continue to persist.Just take a look at the leaders of the Bankers’ Association of the Philippines (BAP), the ...

by Elyssa Christine Lopez  | July 18, 2018 09:00:00
News and Events

How UnionBank is Pioneering the Blockchain Revolution in PH Banking

It is using the technology to update manuals faster and to power a settlement system for rural banks

UnionBank, one of the country’s largest universal banks, is positioning itself as the Philippines’ first blockchain-enabled bankEver since blockchain was introduced to the public in 2009 as the underlying technology behind Bitcoin, many have highlighted its disruptive effects to the financial sector. ...

by Lorenzo Kyle Subido  | May 09, 2018 09:00:00
News and Events

Despite Huge Push from Banks, Smaller Proportion of Filipinos Have Credit Cards. Here’s Why

A survey from MoneyMax.ph reveals the three biggest reasons why Filipinos choose not to have a credit card

According to the latest data from the World Bank’s Global Findex database, only 1.9 percent of Filipinos aged 15 and up owned a credit card in 2017, a decrease from 3.2 percent in 2014 and far below the 21.6-percent average of Asia ...

by Lorenzo Kyle Subido  | May 08, 2018 10:00:00
News and Events

Which Bank Branches Are Open During Holy Week?

Guide to operating hours of the country’s top banks during the Lenten break

Banking clients are advised to finish all their banking transactions on or before Wednesday, March 28, as most banks will be closed this Holy Week.From Maundy Thursday (March 29) until Easter Sunday (April 1), only a few branches of Metropolitan Bank & ...

by Pauline Macaraeg  | March 28, 2018 09:00:00
News and Events

You Can Prevent Bank Fraud and Data Theft by Shifting to EMV Cards. Here's What You Need To Know

The BSP has required all financial institutions to make their systems EMV-compliant by end-June 2018

The first few weeks of 2018 have been rough for the Philippine banking industry. The Bangko Sentral ng Pilipinas (BSP) and many of the country’s biggest banks issued warnings for banking customers to be vigilant against fraud and unauthorized access to their ...

by Lorenzo Kyle Subido  | January 23, 2018 02:00:00
News and Events

'Sachet' Banking: Will Php20-Savings Accounts Reduce the 86% of PH Households That Are Unbanked?

The online platform from PLDT’s fintech unit will be available in over 1.2 million sari-sari stores

In the near future, neighborhood sari-sari stores will turn into bank tellers where people can deposit their hard-earned money in small installments.FINTQ, the financial technology unit of PLDT Inc., has begun rolling out microfinance products under the KasamaKA brand that gives banks ...

by Lorenzo Kyle Subido  | January 22, 2018 10:00:00
Run & Grow

Here's What You Need to Do to Avoid Becoming the Next Phishing and Spoofing Victim According to the BSP

Don't let fraudsters steal your money and data

There has been a spike in reports, both in the traditional and social media, of clients of some of the country’s biggest banks falling victim to suspicious bank account transactions. These often involve withdrawals and purchases done without their knowledge.Many banks have ...

by Entrepreneur Staff  | January 19, 2018 06:00:00
News and Events

Amid Rising Reports of Unauthorized Bank Transactions, Here are Top Tips to Avoid Becoming the Next Fraud Victim

The country’s biggest banks offer advice to help clients foil phishing, skimming and other illegal schemes steal their data and money

This week, the country’s No.1 and No. 2 banks respectively – BDO Unibank and Bank of the Philippines – issued statements warning clients to guard against fraudulent schemes to illegally acquire sensitive information and use their bank accounts for unauthorized transactions.“In the ...

by Entrepreneur Staff  | January 12, 2018 10:00:00
News and Events

Which of the Biggest PH Banks’ Branches Are Open During the ASEAN Summit Holiday (Nov. 13-15)?

Know which ones are open and closed during the long break

Several branches of the country’s largest banks will be open over the extended weekend as Philippine and foreign leaders convene for the 31st ASEAN Summit on November 13 to 15.Banks have been urging their clients to finish all transactions on the second week ...

by Pauline Macaraeg  | November 12, 2017 09:00:00
News and Events

Deposit Up to P1M With This E-Money Card

Unionbank’s EON is for people who want an account without physically having to go to the bank

Unlike many of its competitors, Unionbank of the Philippines’ (Unionbank) digital banking unit, EON, is not focusing on the unbanked as much as it wants to offer convenience to digital natives.“Digital banking is an experience enabled by technology. I’m trying to pattern ...

by Elyssa Christine Lopez  | September 23, 2017 10:00:00
News and Events

You Can Now Send Money, Pay Bills and Buy Load Through Facebook Messenger

The social media giant partners with PayMaya and GCash to provide mobile financial services in the PH

Social media platform Facebook has partnered with Philippine mobile wallet platforms PayMaya and GCash to offer financial services via its communication app Messenger. Through PayMaya and GCash chatbots integrated with the app, Messenger users are now able to transfer money to their ...

by Lorenzo Kyle Subido  | September 22, 2017 05:00:00
News and Events

Mindanao Rural Bank Wins Php7.5M ADB Grant to Pilot Cloud-Based Banking in PH

Cantilan Bank in Surigao del Sur aims to process loans in hours instead of days

A family-owned rural bank in the second-class town of Cantilan in Surigao del Sur province in Mindanao will receive $150,000 (Php7.5 million) in grants from the Asian Development Bank (ADB) to pilot cloud-based core banking technology in the Philippines.ADB said Cantilan Bank, ...

by Roel Landingin  | July 26, 2017 06:00:00
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