7-Eleven Makes Bank Transactions Convenient With 320 Cash-Recycling ATMs
7-Eleven stores Friday, March 05, 2021
- Philippine Seven Corporation expands what it means to provide convenient banking services with innovative cash-recycling ATMs, operated by PAPI;
- BDO Unibank account holders can withdraw or inquire their balances free of charge at ATMs in 7-Eleven;
- Other bank account holders through BancNet can withdraw cash based on the ATM fees charged by their issuing banks;
- More partner banks to be announced in the future
Now you don’t need to travel far to your bank’s ATM whenever you need to deposit or withdraw cash —you can do your cash withdrawal and balance inquiry ATM transactions at 7-Eleven stores in Metro Manila and Cavite starting this March.
This convenience is made possible by Philippine Seven Corporation (PSC), the exclusive licensor of 7-Eleven in the Philippines, in partnership with Pito AxM Platform, Inc. (PAPI), a Philippine subsidiary of Seven Bank, Ltd. of Japan (Seven Bank).
The ATMs in 7-Eleven, operated by PAPI, are cash-recycling ATMs, which means customers can withdraw or deposit cash in real-time with any of its partner banks. Customers can now withdraw cash while the deposit functionality of the ATMs will be activated in the near future. The ATMs also have a unique feature of adapting the customer interface screen to that of the partner bank and thus providing a familiar, easy-to-use interface for users.
As of this publication, BDO Unibank account holders can withdraw cash and perform balance inquiries free of charge from the ATMs in 7-Eleven stores. Other bank account holders, through BANCNET, can also do withdrawal and balance inquiry transactions subject to ATM fees charged by their banks. PAPI plans to expand the number of partner banks in the near future to allow more convenient and cost-efficient banking services to more customers.
By the first week of March, customers can already conduct their bank transactions in more than thirty (30) 7-Eleven stores in NCR. PAPI and PSC aim to install ATMs in at least 320 stores by the end of the first half of 2021. This number will gradually increase throughout the year, with the end goal of covering the majority of 7-Eleven stores in the future.
Seven Bank, which operates more than 25,000 ATMs in Japan, established PAPI in April 2019 to promote its ATM business in the country. In February 2020, PAPI struck a business alliance with PSC, intending to install, operate, and maintain ATMs at 7-Eleven stores in the Philippines.
PSC operates the largest convenience store network in the country. It has 2,978 stores in the Philippines as of December 31, 2020.
For more information on where to find the ATMs, please visit https://www.7-eleven.com.ph/whatsnew/atms-in-7eleven-list-of-stores/.
