BSP calls on banks to ensure smooth services

April 08, 2020

The Bangko Sentral has called on financial institutions to ensure the availability of financial services this Holy Week, especially since community quarantines have been declared in most parts of the country to help address the global pandemic.  

In a memorandum to BSP-supervised financial institutions dated April 6, 2020, BSP Deputy Governor Chuchi Fonacier said banks and other financial institutions should ensure uninterrupted services of their automated teller machines  and digital financial platforms line mobile banking applications and internal banking.

Fonacier said since enhanced community quarantine has been declared in most parts of the country to arrest the further rise of coronavirus disease cases, “BSFIs may anticipate a unique scenario different from previous years.”

“Thus, additional considerations such as the release of cash aid from the government’s Social Amelioration Program) and other cash donations from private organizations, should be incorporated on top of the historical cash requirement options during the Holy Week,” she said.

Ayala-led Bank of the Philippine Islands, BPI Family Savings Bank, and BPI Direct BanKo said all their branches and kiosks nationwide would  be closed today to Easter Sunday.

They thus called on their clients to make their branch-related transactions early.

These, however, assured their ATMs, cash accepting machines, online platform, and mobile App remain available daily.