At PSBank, you can go cardless but never cashless!
“This multi-factor authentication that comes with every Cardless Withdrawal makes every transaction secure. For an account holder to complete a transaction, he/she will need three vital information: PIN 1 or the 4-digit nominated PIN; PIN 2 or the 6-digit
Our day- to- day life has become inextricably linked with technology, and every aspect of it has been revolutionized to adapt to the speed and convenience of the digital age. As a result, even the way individuals conduct their business has evolved to suit this faster, more mobile lifestyle.
Moreso in banking, where real hard- earned money is involved. People of the digital age lead busier lives, and they simply do not have the time to tolerate the slow and outdated methods of the banks of yesteryears. Banks of today not only have to consider updating their business to better serve the modern customer, but also come up with more innovative ways to make every person’s banking experience safer and more convenient.
With all this in mind, PSBank unveiled its new cardless withdrawal service, which aims to offer a simpler, seamless, and more secure way for customers to conduct their banking transactions.
“The way how our customers bank is changing and we want to offer them more innovative ways to conduct their banking transactions. Cardless withdrawal is one of our innovative services we are offering our clients to further simplify their lives and make banking with us
more convenient,” PSBank told BusinessWorld.
“This state- of- the- art feature allows us to live up to our brand’s promise of simple and reliable banking or Simple Lang. Maaasahan!”
With PSBank’s Cardless Withdrawal service, the bank’s clients can now access their funds through its more than 600 ATMs nationwide even without their ATM card.
In addition to the convenience of not having to carry around a card to access your funds, the new service also offers a safer banking experience. Through its multi- factor authentication, an added security measure that involves a randomly generated code for every cardless withdrawal transaction, customers who use the new service can get their money with a lower risk exposure to fraud, card skimming, and other threats associated with ATM cards.
“This multi-factor authentication that comes with every Cardless Withdrawal makes every transaction secure. For an account holder to complete a transaction, he/she will need three vital information: PIN 1 or the 4- digit nominated PIN; PIN 2 or the 6- digit system- generated PIN; and the correct amount to be withdrawn. Moreover, the absence of an ATM card reduces risk of fraud and ATM skimming,” PSBank said.
“This further empowers our clients because nothing can stop them from making those important transactions or rewarding purchases now. At PSBank, you can now go cardless, but you will never go cashless.”
Cardless withdrawal can now be done in all PSBank ATMs nationwide. Customers need to simply log in to their PSBank Mobile or PSBank Online (Internet banking) account to create a Cardless Withdrawal transaction request. Once logged in, select “Cardless Withdrawal,” choose the PSBank account where the amount will be withdrawn, type in their nominated PIN 1 or their 4- digit PIN and the amount to be withdrawn.
Afterwards, they will receive their PIN 2 or a new set of unique six- digit system- generated PIN. After getting the two PINs, clients simply need to go to any PSBank ATM, and press the ENTER key to start a Cardless Withdrawal transaction. Once all the details provided are correct, the ATM will dispense cash.
In the new digital world, there is a need for old, established institutions to adapt and find new innovative ways to serve their customers. Convenience has become a requirement in the banking industry, while security has become an even much bigger priority in light of the fastchanging world.
“PSBank employs a holistic approach to security and integrates information security controls into all its business processes. We employ an end-to- end security to ensure that the right controls are in place to protect our clients’ information. It has always been our goal to provide an exceptional customer experience and this entails protecting our customers’ information without adversely affecting business processes,” PSBank said.
“Information security should be part of the enablers in the bank that allows the business to grow and continue to be profitable while still keeping our security risks properly managed and in check,” the bank added.
With the new Cardless Withdrawal service, PSBank is taking another step into becoming a reliable leader in the future of Philippine banking, opening the door to a convenient, innovative, and at the same time a much safer banking experience for its clients.