Manong Luis Chavit Singson's VBank Gets Launched in Quezon City

When things got complicated during the pandemic, Filipinos suddenly had to resort to digital payments and e-wallets to keep family safe at home, but still transact and conduct business during very dangerous times. This has not only given is access, but a variety of services that wasn't a norm to Filipinos throughout the country. From the need for access, internet connection has leveled the playing field and had given those in rural areas a very convenient way to pay, transfer and withdraw money even in remote areas in the country. Financial service should be easy, secure and could empower the underserved folks in the far flung areas. 

Manong Chavit Singsong knows this dilemma, and it has affected so many families nationwide. It's why he launched VBank, an app that is available in the App Store and Google Play.

VBank is quite different because it promises account creation entirely on the app, online, without the need to handle physical documents and suffer in long queues. Once registered, one can send money to banks, digital wallets, go pay your bills and buy mobile phone load in one place. If you prefer having cash, you can use it to cash in funds in over 6,000 of their partner outlets across the Philippines. This includes Tambunting Pawnshops, Puregold groceries, Alfamart convenience stores in the Philippines. 

They are also gearing to have VBank available in remote regions to make sure those who don't get financial connections would now be able to in a jiffy. Manong Chavit Singsong describes this as a way for people to participate in the economy for nation building and inclusion in financial services. The event was also witnessed by celebrity endorser and actress Ms. Aiai Delas Alas who was there at the venue to entertain guests and talk about the service. 

Manong Chavit also announced the start of his "58 days Pa-raffle ni Manong Chavit" which lets new users try out the app and its new features. He also did a daily raffle where users could get Php 5,800 , Php 58,000 and get a chance to win Php 580,000 on the 58th day. This would be best for the 77 percent of the population who until now has not been able to try the banking system. He wants to empower every regular joe. If you're asking about the significance of the number 58, it's his assigned number as he bids for a Senate seat in 2025. He's a man that's got "May Isang Salita" according to his slogan, I bet it's an opportune time to go do it!

Cebuana Lhullier Microsavings: The best tomorrow we deserve today

Just attended the webinar of Cebuana Lhullier Bank about how to Discover Your Ipon Power. It's a real good way to learn more about Micro Savings which would help a lot of people to save in their own little way.

Securing the future should be possible for every Filipino. The lack of accesibility, the identification documents needed and the fees all scare them away and most people prefer to just keep their money at home.

"It's all about financial mobility, to be more convenient, accessible and powerful. This is just the first of many financial inclusion projects we have as we move forward to the new normal. This will provide financial access to millions of Filipinos, giving them access to cash or financing for business needs. Our 25,000 branches are ready to serve you, even easier and more affordable to do it online. The best tomorrow we deserve today." -Jean Henry Lhullier

Michael Sena of Cebuana Lhullier says "We welcome you to discover your Ipon Power. The response of the Filipinos has been overwhelming as we saw 3.5 Million become a part of the movement, changing the lives by changing their ipon habits and joining our microsavings progam. The pandemic has been very difficult but it has showed how we needed to change things. In behalf of Cebuana Lhullier, we believe that every Filipino deserve the best tomorrow today, thank you!"

Ben Diokno of BSP says "I agree with today's theme, there is power in savings. It allows us to dream big, and it is what we want to be in everyone's reach. This is part of our move to have everyone involved in financial inclusion. Even before the pandemic, we have seen the value of a formal account. BSP has made changes to democratize account ownership. Around 7 Million accounts will be part of the social amelioration program and its financial services. Filipinos can now go to convenience stores, pawnshops to transact now. Aside from addressing barriers, we are all seeing the fruits of our digital push, to build and ecosystem that can benefit individuals and businesses. Payment sreams, infrastructure and standards will be part of the pillars we choose to achieve in a few years. We are stepping up our digitization efforts and putting up consumer protection framework in this client focused banking industry. We will continue to implement the BSP Online Buddy (BOB) to make our services closer to people. They are close to target segments and close markets to deliver essential services to those who haven't been reached before. We are happy to know Cebuana Lhullier Bank is doing good, in making sure people have digital payments so they too can get convenience in services for savings and insurance. Together let us work to make sure every Filipino has a financial account and security." 

 

 Dennis Valdez the President of CL Rural Bank says "We want to bring financial inclusion regardless of who they are and wherever they may be. It's for the friendly neighborhood lender, the friendly kasambahay, to bring accessibility to over 5 million account holders nationwide. We embarked on a campaign to promote in far flung places to talk to them and include them in these. The challenges in the pandemic made us look for more opportunities to answer the needs of our clients. It has challenged us to be more accessible, more convenient,  hence we introduce to you the new and improved Cebuana Lhullier Microsavings."

This is integral to the new normal, the new Cebuana Lhullier Microsavings has maximum accessibility. It can be accessed with over 21000 Bancnet ATM's and the existing Cebuana Lhullier branches nationwide. Now they have a place to pay bills, do online shopping, fund transfers, and use Unionpay payment systems across the country. You have online access, via the new eCebuana app where you can transfer via Instapay, buy eload and a place to buy insurance, jewelry, and more. Soon they will also implement payment via QR, and you can open an account now online. This is cashless and has full online access, this is your IPON POWER.

For those who are asking, opening an account only needs 1 valid ID, an initial deposit of Php50 and card fee of Php150 so you can access it anywhere.