It's Me, Gracee: PSBank

Embracing Digital Banking: The Shift Towards Cashless Transactions in the Philippines

Mobile Banking Friday, August 30, 2024

Digital transactions in the Philippines have reached a new milestone, with the Bangko Sentral ng Pilipinas (BSP) reporting a rise in digital payment transactions from 42.1% in 2022 to 52.8% in 2023. This surge has exceeded the BSP's target of digitalizing 50% of payment volumes as part of its Digital Payments Transformation Roadmap 2018-2023.

The convenience and accessibility of mobile apps and online banking have made cashless transactions the preferred payment method for many Filipinos. According to a study, cash usage has declined to 87%, down from 96% in 2022, as consumer habits increasingly favor cashless payments.

However, this rapid shift towards digital banking brings its own set of challenges, particularly in the area of security.

Enhancing security in mobile banking

For individuals who are new to digital banking, navigating online services can be daunting, increasing their vulnerability to cyber threats. This underscores the importance of education and robust security measures.

Cybersecurity threats like identity theft, phishing scams, and fraud are prevalent concerns in digital banking. Phishing, in particular, remains a significant threat, as cybercriminals use misleading websites and emails to steal personal information and compromise financial data.

To combat these threats, banks are continually updating their security measures to ensure safe mobile banking, implementing features like two-factor authentication, account monitoring, biometric authentication, and strong password policies.

Philippine Savings Bank (PSBank) reinforces its commitment to security by empowering users with greater control over their online banking experience. PSBank clients can lock access to their accounts on platforms they don’t usually use, ensuring that access to their PSBank accounts is restricted to their preferred and regularly utilized channels. Additionally, PSBank users have the option to lock or unlock their ATM card, offering an extra layer of security against unauthorized transactions.

Financial inclusion through simple and accessible banking

The new PSBank Mobile app simplifies banking for every Filipino, whether they are new account holders or long-time clients. The app's upgrades introduce a more user-friendly interface, allowing users to customize their home screen with either a comprehensive or single account view, save and share transaction receipts, and access detailed loan account information. With PSBank Mobile, clients can easily open a time deposit account, apply for new loans, and even deposit checks. The enhanced app also features a customizable display of frequently used options, offering a personalized banking experience, complemented by vibrant images of iconic Philippine destinations.

PSBank is committed to promoting financial inclusion by making banking accessible to everyone. The bank has simplified its account opening process to make it easier for Filipinos to start their banking journey. With minimal requirements of one valid ID and a selfie, individuals can open a PSBank account through PSBank Mobile, with the option to get an ATM card for free.

For more information on PSBank’s products and services, visit psbank.com.ph or follow PSBank on Facebook and Instagram.

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LOOK: These hybrid cars let you save the environment and some pocket money while traveling!

Lifestyle Tuesday, July 26, 2022

Mobility has become more than just going from point A to point B. In the Philippines, more things have to be considered when traveling such as road traffic, faster routes, fuel expenses, and environmental hazards. With that, more and more alternatives have been introduced such as walking, cycling, and driving electric vehicles.

For the same reasons, Philippine Saving Bank (PSBank) partnered with Toyota Motor Philippines (TMP) to offer Say Hi To Hybrid Auto Loan Promo, making Hybrid Electric Vehicles (HEVs) like Toyota’s Corolla Cross 1.8V Hybrid and Corolla Altis 1.8V Hybrid CVT more accessible to Filipinos. For its technology, HEVs are easily a better option for sustainable transportation.

Here are the two main reasons for the widespread shift towards sustainable mobility:

Save Mother Earth

Mainly, HEVs continue to be a better alternative mobility for its fewer CO2 emissions, which has caught the attention of car owners and enthusiasts. HEVs have self-charging and fuel-efficient mechanisms that allow them to operate without generating too much CO2 and pollutants. The battery is charged through a regenerative braking system, which means it stores the energy lost from braking.

Leading auto manufacturing company Toyota also takes extra miles to be more sustainable. The company collects used HEV batteries for HEV vehicles and other purposes such as extracting rare materials to reuse them. In addition, Toyota’s Nickel batteries are 100% recyclable.

Save on Fuel Expense

Its innovative fuel-efficient and eco-friendly mechanisms give the impression that HEVs are more expensive than regular cars. This is not the case in the long run. HEVs switch from its electric motor to the gasoline engine automatically only when necessary. This prevents you from having to refill your tank as frequently as your gas would last longer.

With this, HEV owners can, in fact, help save the environment and save up more from fuel expenses, especially with the uncontrolled oil price hikes.

PSBank and TMP paves the way for financial and environmental sustainability with the Say Hi To Hybrid Auto Loan promo. Aside from lower rates, the promo offers 1-year FREE comprehensive insurance for any of the two Toyota models.

“This partnership is our way of staying true to our promise of Simple Lang, Maasahan and of providing reliable and sustainable products that are tailored to meet our customers’ needs. In this case, we are paving the way to financial and environmental sustainability,” said PSBank Senior Vice President and Marketing Division Head Emmanuel A. Tuazon.

“This partnership with PSBank is important for us at Toyota because it helps us continue spreading awareness on the benefits of HEVs, and make the shift easier and more convenient. We hope that through this initiative, we can lead FIlipinos to a more exciting future of more electrified vehicles,” said TMP Assistant Vice President of Marketing Services Elvin Luciano.

Individuals who are considering a more eco-conscious ride can avail of the Say Hi To Hybrid Auto Loan promo until August 30, 2022. Apply through the PSBank website’s online loan application facility or go to the nearest PSBank branch. After accomplishing and submitting the application form, clients will receive a credit decision within 24 hours.

Interested customers can also follow facebook.com/psbankofficial or access LiveChat at www.psbank.com.ph.

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PSBank helps provide a brighter future to underprivileged children through its CSR partners

Lifestyle Friday, January 07, 2022

Photo courtesy of Chosen Children Village Foundation, Inc.

Philippine Savings Bank (PSBank) renews support for the welfare of visually impaired, indigent and special children through the Bank’s annual donation to its corporate social responsibility (CSR) partners -- World Vision, Chosen Children Village Foundation, Inc. (CCVFI), and Resources for the Blind, Inc. (RBI).

PSBank donated a total of PhP300,000 to aid these three child-friendly organizations in providing shelter, basic necessities, education, and other special needs for the underprivileged children under their care.

World Vision commits in using the financial assistance to continue their programs for the welfare of underserved Filipino families. The organization spearheads community development initiatives and helps parents find a source of livelihood to better support their kids. They also provide emergency assistance to those affected by natural disasters.

“As the largest non-profit organization in the Philippines, World Vision helps over 1.5 million children every year. With the support of thousands of Filipino sponsors and donors such as PSBank, the children, along with their families, were able to build a sustainable life in all of its fullness,” said World Vision Donor Care and Development manager Precious Hope Basco.

The Bank’s other partner, Chosen Children Village Foundation, provides abandoned children with mental and physical handicaps a caring and loving home. They also train the children as they grow to adulthood to become productive and self-reliant members of the society despite their disabilities. To date, there are over 80 children who are being rehabilitated and cared for in their facility in Silang, Cavite.

CCVFI Executive Director Adrian Mendoza expressed his gratitude to the bank in his remark: “Your generosity and love enable us to continue living with our mission of providing a haven for these angels and creating programs to maximize their potential and quality of life despite their mental, physical, and social difficulties.”

Meanwhile, PSBank’s donation to the Resources for the Blind was intended to help realize the organization’s mission in helping blind Filipinos reach their full potential through counseling, education and training, and rehabilitation programs. RBI also aims to transform the children’s lives into becoming an integral part of society by teaching them basic functions like chores in the home and other daily activities.

“With the untiring support and generosity of our corporate partners like PSBank, we equipped the children with the means to go to school and access the education system, thus giving them a chance for a brighter future,” said RBI Executive Director Amelia M. Torrente.

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PSBank makes banking safer with new online account opening via its Mobile App

Lifestyle Saturday, September 25, 2021

Philippine Savings Bank (PSBank) made banking simpler and safer with its new digital offering -- allowing Filipinos to open a PSBank peso savings account via its Mobile App. With just one (1) valid ID, a selfie, and with literally just a few taps, tapos agad!

What used to require at least a visit to the bank is now replaced by an online account opening service through one’s smartphone and the PSBank Mobile App.

The app allows customers to enjoy hassle-free, safe banking and easily and conveniently do tasks such as bills payment, fund transfers, mobile check deposits, time deposit placements, toll RFID and telco reload, loan application, and now account opening in the comfort of their homes.

“Our customers’ safety is our number one priority. This is the reason why we continuously strengthen our digital infrastructure so that Filipinos can do their banking transactions whenever they want and wherever they are. Supplementing today’s consumer lifestyle, this new feature allows customers to do more despite staying indoors,” shares PSBank Senior Vice President for Marketing Noel Tuazon.

PSBank’s online account opening service completes the bank’s suite of digital services, designed to keep in step with its customers’ ever-evolving needs. The PSBank Mobile App offers a well-rounded and best-in-class user experience, from real-time account management to savings growth and security.

Meanwhile, customers may open a maximum of two (2) accounts online. New customers may also request a PSBank Debit or Prepaid Mastercard for their newly opened deposit account and have it ready for pick up at any PSBank branch or delivered to their registered mailing address.

Innovation for safety

Aside from convenience and security, innovation for consumer safety drives PSBank’s mission to upgrade and develop its products and services.

“Our clients can attest that we constantly innovate to make banking simpler and so much easier. We are the first lender to introduce Cardless Withdrawal, the ATM Lock feature, Mobile Check Deposit, among other things,” Tuazon notes. “This time, innovation becomes our tool in helping Filipinos safeguard their health. Trust that we will keep on harnessing digital technologies and continue to upgrade our industry-leading product and service offerings for our customers,” he adds.

For more information on PSBank and its products and services, visit www.psbank.com.ph or facebook.com/psbankofficial. You may download PSBank Mobile App from the Apple App Store or Google Play Store.

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Avoid long lines with PSBank app’s instant reloading of Autosweep and Easytrip Toll RFIDs

Lifestyle Saturday, July 24, 2021

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Instant Reloading of Autosweep and Easytrip Toll RFIDs is Now Available via PSBank Mobile!

Lifestyle Saturday, June 26, 2021

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Tips in purchasing pre-owned homes with PSBank's 'Good to Know Campaign'

Buy and Sell Houses Wednesday, January 30, 2019

A property seeker is always hesitant when it comes to buying second-hand homes. This is because such properties could eventually cost you a fortune in renovations if you are not cautious.

Spare yourself from possible buyer’s remorse. PSBank, through its “Good to Know” campaign, help you spot a gem among wide choices of pre-owned houses with these tips:

Know where to look. The best places to find pre-owned real estate properties for sale are banks and local government institutions such as the Home Development Mutual Fund or PAG-IBIG. Check out their website and you’ll find the best property deals. There are also property auctions that these institutions organize. Some properties not normally listed in their websites are being auctioned here.

Schedule a visit or inspection. Determine the real condition of the house yourself by asking a professional inspector for help. Check if the basic structure, floor plan and infrastructure remain sturdy and durable. Ensure that there’s electrical and plumbing system installed, rooms are well-proportioned and there are no bad cracks or serious leaks. A great buy would be one with no major fixes and you’ll be able to move in to your new home soon.

Consider the location. The location is just as important as the house itself. If it is located within a good school system, a nearby transportation, market or grocery, then finding a home priced to accommodate the necessary updates could be a good deal.

Verify documents. Check the title and latest property tax receipt. The title will not only tell you how old the property is but it will also let you know if the property had a chain of previous owners.

Check the market value of the property. To ensure that you will not be paying more than you should, go through the current price trends and get an estimate or seek an expert to help you evaluate the second hand property against similar properties in the area.

Buying an excellent pre-owned property or a second-hand home entails lots of patience and due diligence. However, getting it for a bargain price should be more than enough motivation and be able to convince you that what you purchased is more than what you paid for. You really just need to know where to look.

PSBank is currently offering significant discount on its already low-priced pre-owned real estate properties for sale.

Buyers looking for quality and affordable pre-owned condominium units, houses and/or lots will enjoy 20% to 25% discount on selected properties when they purchase from December 4, 2018 to March 4, 2019.

Aside from this great deal, you are assured of “clean” pre-owned properties for sale. This means that each property in PSBank’s list of Real Estate Properties for Sale has a registered title and a tax declaration consolidated under the Bank’s name. Plus, all properties are free from any legal issues and are already in the possession of the Bank.

To avail of the promo, you simply need to submit a completely filled-out Offer to Buy form and Buyer’s Information Sheet to PSBank Asset Sales Department, at any nearest PSBank branch, or via the Bank’s accredited brokers. You also have the option to make their purchase in cash or by applying for a PSBank Home Loan with Prime Rebate.

PSBank Home Loan with Prime Rebate offers low interest rates, convenient payment modes, and flexible payment terms. Applicants will also get a credit decision within five banking days or less via SMS. Borrowers can also save money by paying early or before the due date or by paying more than their monthly loan amortization. PSBank Home Loan has the Prime Rebate feature allowing home loan clients to earn rebates in the form of “interest discount” on any advance or excess payments made on the loan. Over time, clients could use the rebates to lower the loan principal, shorten the loan term, or even both.

Check out the list of properties and download the forms at www.psbank.coml.ph/propertiesforsale.

For more information on the promo, you may call the following:

Properties located in Metro Manila, Rizal, Visayas and Mindanao: (632) 885-8208 local 8990

Properties located in North Luzon: (632) 885-8335

Properties located in South Luzon: (632) 885-8208 local 8016

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PSBank: Be Aware! Simple ways to outsmart social media scammers

Lifestyle Thursday, July 20, 2017

People are wired to be social creatures. Twitter, Instagram, and Facebook have capitalized on this human need to enormous success. Facebook alone has almost two billion monthly active users as of May 2017.

However, there’s a dark side to the popularity of social media. Scammers and cybercriminals go where there’s money to be made. The Philippine National Police Anti-Cybercrime Group (PNP ACG) recently revealed that online scams are still the most prevalent, with 555 cases reported in 2016 until the first quarter of 2017.

As Filipinos are known to be the most active social media users in the world, PSBank believes that it is important to be very cautious in using these platforms. To help you avoid being victims of social media scams, here are some tips from PSBank on how to identify and outsmart these scammers:

Know who you are dealing with. If one of your contacts asks for your personal information or money through social media, immediately call him or her through other touch points (e.g. landline or mobile number) to validate their request.

Regularly review your privacy and security settings. Take simple steps to secure your social media accounts. Profiles that are publicly displayed are the most vulnerable to scammers. Look for the Privacy and/or Security options in your social media account and set them up properly. Installing credible anti-malware software also helps to protect your computer or mobile phone’s overall security.

Avoid putting sensitive details on your profile. Remove your home address, phone number, date of birth and any other information that could be used to steal your identity. Con artists obtain key pieces of your personal information from your social media account profile, which they use to recover your account passwords (via the password recovery facility) or apply a bank loan in your name.

Use multi-factor authentication. Multi-factor authentication means it takes more than just your password to access your account or reset your password. An example of this is enabling the One-Time PIN (OTP) that social media sites offer as an added security option. Whenever you login or request a reset of your password, an OTP is sent to the mobile number you registered with the site.

Dodge clickjacking. Did you just read a news header that your favorite singer died? (Click!) Or that you can earn thousands in a day without leaving your house? (Click!) Clickbaits rely on sensationalism or eye-catching thumbnail pictures to tempt you to click on the links or share them. But beware: the links may install malware in your computer that steal personal information or bank log-in credentials. Be wary of these links and verify news through legitimate media sources.

Be Vigilant. If you think that your bank account has been compromised, call your bank’s customer service hotline to report and verify any suspicious activities in your account. At PSBank, you can conveniently and closely monitor any movements in your account through the PSBank Mobile App and PSBank Online.

“Social media is the most powerful communication tool in the world, but it is also the most dangerous. Learning how to secure your accounts and avoid obvious threats goes a long way in protecting your name and money online,” said PSBank Vice President for Information Security Dan Jose D. Duplito.

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Smart and Easy Ways to Manage your Finances this Holiday Season

Holiday Season Tips Tuesday, November 22, 2016

As the holiday season nears, the excitement of the upcoming festivities is building up as well. After all, who doesn’t feel the holiday cheer when buying, giving and receiving gifts; seeing and spending time with family and friends; hearing Christmas carols being played or simply seeing the streets all lit up with bright lights at night?

But along with this comes the inevitable stress as traffic gets worse, malls get more crowded with shoppers, managing your schedule to accommodate invitations for a Holiday get-together from family and friends gets tiring, and keeping in line with your budget and spending gets trickier—all of which dampens the holiday cheer.

“With the holiday season right around the corner, we’d like to remind everyone to learn how to budget and spend wisely. Though we’d like to express our love for our family and friends by giving gifts, it’s also important for us to always set aside some of our money as savings for our future or for emergency purposes. You’ll never know when you’ll need it,” said PSBank Senior Vice President and Marketing Group Head Emmanuel A. Tuazon.

PSBank is here to share some tips on simple ways to manage your finances this holiday season:

Make a list of things to buy. Identify the people whom you will be giving gifts to and what gifts to buy them. Having a shopping list will definitely make things easier for you. With a Christmas checklist in hand, not only will it prevent you from missing important people in your life but it will also enable you to organize your budget better.

Set a budget and stick to it. Set a budget for each item in your shopping list. Having a budget that you know you must stick to will help keep you from impulse spending. PSBank offers PSBank Debit and Prepaid Mastercard for an easy way to control your finances as it lets you spend only up to the available balance in your account. This will allow you to spend within your means while effectively allocating your budget for your various financial needs.

Check out Christmas bazaars and mall sales. Make the most out of the discounts you can enjoy in different bazaars and holiday sales this season. For those who’d much rather not join the holiday mall crowd, online shopping is another option. Some banks offer exclusive online shopping deals that shoppers should take advantage of. Maximizing perks from banks will not only allow you to enjoy better deals but also end up with more savings.PSBank currently has an existing partnership with ZALORA where PSBank Debit and Prepaid MasterCard cardholders will enjoy an exclusive 12% off when they shop on ZALORA. The promo will run until December 31, 2016.

Maximize the digital banking services of your bank. While traffic, long lines, and crowded malls are already part of the country’s Yuletide celebration, being aware of these problems means you have partially won the battle. During these times, it is advisable to do your banking transactions via the electronic banking services of your bank. PSBank in particular offers PSBank Online and PSBank Mobile that lets you pay bills, transfer funds, reload your mobile phone, and more— whenever and wherever you are.

Lock your PSBank cards. Since incidences of theft or fraud (both online and in person) tend to increase during this time of the year, PSBank encourages its PSBank Debit and Prepaid Mastercard cardholders to lock their cards using the ATM Lock feature via PSBank Online or Mobile app. The PSBank ATM Lock empowers cardholders by giving them an additional layer of protection against unauthorized use of their ATM card, arising from ATM loss, theft, skimming, and other forms of electronic fraud.

About PSBank

PSBank is a key player in the Philippine consumer banking industry. The Bank emerged as the 2nd strongest bank in the Asian Banker's AB500 annual ranking 2016-2017 edition. PSBank is the only savings bank that has consistently cornered a spot in the list of the top 10 strongest banks in the country for six consecutive years. We have expanded our network to more than 250 branches and more than 600 ATMs nationwide.

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Grab the best deals this Holiday season at PSBank and ZALORA’s 12.12 Online Fever!

Lifestyle Wednesday, December 09, 2015

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Embracing Digital Banking: The Shift Towards Cashless Transactions in the Philippines

LOOK: These hybrid cars let you save the environment and some pocket money while traveling!

PSBank helps provide a brighter future to underprivileged children through its CSR partners

PSBank makes banking safer with new online account opening via its Mobile App

Avoid long lines with PSBank app’s instant reloading of Autosweep and Easytrip Toll RFIDs

Instant Reloading of Autosweep and Easytrip Toll RFIDs is Now Available via PSBank Mobile!

Tips in purchasing pre-owned homes with PSBank's 'Good to Know Campaign'

PSBank: Be Aware! Simple ways to outsmart social media scammers

Smart and Easy Ways to Manage your Finances this Holiday Season

Grab the best deals this Holiday season at PSBank and ZALORA’s 12.12 Online Fever!

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