BANKS EXTENDING RELIEF TO CLIENTS DURING LOCKDOWN

BANKS indicated their commitment to continue offering services during the extended enhanced community quarantine (ECQ) period, waiving remittance fees and extending payment deadlines anew to ease the burden of customers. In a recent statement, the Bankers Association of the Philippines (BAP) said that it was doing its part in helping the government during the coronavirus disease 2019 (Covid-19) pandemic.

“We will endeavor to operate in the same manner as we did these past three weeks of the enhanced community quarantine and trust the industry’s resiliency and the cooperation of all sectors to overcome this health crisis,” BAP said.

Metropolitan Bank & Trust Co. (Metrobank) said that all car and home loan maturities will be provided 60-day extension, while payments due from March 16 to May 15 will be deferred. Regular amortization payments, meanwhile, will resume on May 16.

Metrobank is also waiving fund transfer fees via Instapay and PESONET until April 30.

“With the extension of the [ECQ], we want to help ease your worries about finances during these difficult times,” the bank added.

Philippine National Bank (PNB) is waiving remittance fees for cash transfers credited to PNB deposit accounts until May 8.

The waiver covers over-the-counter transactions done in overseas branches including Los Angeles, Guam, Singapore, Japan, Global Hong Kong, Canada (through Pnb-remittance Company Canada) and Europe.

Remittance fees are also removed for transactions via Web Remit and Phone Remit channels for PNB Europe.

Mall-in remittance in New York and Japan is also under the waiver order.

PNB President and CEO Wick

Veloso said the bank’s recent move was necessary to help the economy coping on the impact of the Covid-19 impact.

“Waiving the remittance fees is a big help to our kababayans who send cash to their loved ones in our country…. So starting April 9, Araw ng Kagitingan, until May 8, we would like to do our own simple part in helping them. They are our selfless heroes,” he added.

Rizal Commercial Banking Corp. (RCBC) said it would also be extending free Instapay and PESONET transfer offering via RCBC online banking platform until April 30.

NONIE REYES BANNERS with illustrations of frontliners are seen at the Eastwood Excelsior condominium in Eastwood City, Bagumbayan, Quezon City. Tenants and workers sang and clapped from their windows as their way of showing appreciation and support for those risking the most in the fight against the virus.