In a groundbreaking move towards more inclusive access to banking, The Bank of the Philippine Islands (BPI) proudly announces a major expansion of its services, enabling BPI account holders to deposit and withdraw cash at partner retail stores without any additional charges. This innovative initiative is designed to transcend the boundaries of traditional banking and bring accessible financial services directly to the heart of every Filipino community.
Last year, we partnered with retail giants in the country to offer more Filipinos easy access to BPI products such as savings accounts, credit cards, auto, housing, and personal loans, and insurance products. This year, partner stores will also begin serving existing BPI account holders, allowing them to deposit and withdraw cash from the nearest partner store. Together with our retail partners, we are defining what it means to bank, to reach, to connect, to thrive.
Jose Teodoro Limcaoco
BPI President and CEO
In partnership with Prince Stores Group and Prince Retail Group, this service marks another pioneering move by BPI to extend its reach to more Filipinos, benefiting both unbanked individuals and but also enriches the banking experience for existing BPI Depositors. “Last year, we partnered with retail giants in the country to offer more Filipinos easy access to BPI products such as savings accounts, credit cards, auto, housing, and personal loans, and insurance products. This year, partner stores will also begin serving existing BPI account holders, allowing them to deposit and withdraw cash from the nearest partner store. Together with our retail partners, we are defining what it means to bank, to reach, to connect, to thrive,” said Jose Teodoro Limcaoco, BPI President and CEO, during the official inauguration of the service in Cebu on August 5.
The initiative streamlines cash deposits and withdrawals by leveraging established retail locations, making banking more convenient for customers who may not have easy access to traditional bank branches or ATMs. By integrating banking services with everyday retail experiences, BPI is setting a new standard for banking accessibility in the Philippines.
Rally Jereza, BPI Agency Banking Head, highlights that the initiative completes BPI’s vision of building “mini BPI hubs” in retail partners. “From allowing Filipinos to avail of BPI products in both physical and digital platforms, we are finally extending access to regularly sought-after bank transactions through established retail stores. This is aligned to the mission of the Bank to build a better future for all Filipinos, one family, one community at a time” said Jereza. Jereza also promises ease of use and security for customers while transacting with partner stores. “Cash deposits and withdrawals through partner stores are straightforward and designed to provide seamless, secure, and rewarding experience to our customers. This initiative reflects our commitment to innovation and customer-centric solutions, ensuring that Filipinos can feel safe transacting with retail businesses when it comes to their hard-earned cash, just as they trust BPI,” customers can also take advantage of exclusive offers when they avail of BPI products, deposit, and withdraw through partner stores – including a FREE 1-year accidental protection of as much as P75,000* when they open a BPI #SaveUp.
To deposit and withdraw through partner stores, BPI account holders can go to a BPI partner stores, approach a store personnel, provide any government-issued ID, and an active BPI registered mobile number.
Coinciding with the centennial celebration of the first bank in Cebu, BPI continues to be a trailblazer in the Philippine banking industry especially here in Cebu. The service is currently available in select Prince Stores and Prince Retail Group branches, with plans for nationwide expansion soon.
ADVT.
This article is brought to you by the Bank of Philippine Islands (BPI), Prince Stores Group, and Prince Retail Group.
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