BDO partners with sari-sari stores, community businesses for cash needs in far-flung areas | ABS-CBN

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BDO partners with sari-sari stores, community businesses for cash needs in far-flung areas

BDO partners with sari-sari stores, community businesses for cash needs in far-flung areas

ABS-CBN News

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Updated Oct 21, 2020 11:06 AM PHT

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Convenience store vendor tries out the Cash Agad service. BDO Handout

MANILA - BDO Unibank said Wednesday it found a way to provide banking services such as withdrawals for the unbanked and residents of far-flung areas where there are no banks or automated teller machines.

Its Cash Agad service offers access to money through sari-sari stores, salons, hardware stores, water refilling stations, drugstores and other mall retail businesses, the bank said in a statement.

Residents do not have to travel long hours and spend on transportation just to withdraw money, BDO said.

Partner retail establishments are provided with point-of-sale (POS) terminals capable of accepting transactions using Philippine-issued ATM cards, the bank said. The terminal accepts cards from all banks in the country.

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“Our Cash Agad partner agents are the key to broadening financial systems. Financial inclusion can go a long way in making lives easier for Filipinos in secluded communities,” BDO’s head of agency banking Jaime Nasol said.

Businesses with a business permit and a BDO bank account can apply to become a Cash Agad partner agent, the lender said.

BDO said there are 8,000 Cash Agad partner agents in the country.

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