BSP urges public to use digital banking as COVID-19 precaution


Posted at Mar 15 2020 12:40 AM

MANILA—The Bangko Sentral ng Pilipinas on Saturday assured the public that banking services will continue amid the spread of the coronavirus disease 2019 (COVID-19).

"The coronavirus outbreak is a public health crisis, not a financial crisis," the central bank said in a statement, adding that there are protocols in place to make sure bank operations aren't disrupted.

With health officials recommending social distancing to prevent COVID-10 from spreading, the BSP urged the public to use e-banking and digital payment services.

"Depositors are advised to remain calm as the banking system has the ability to service all withdrawals within a reasonable period," it added.