PSBank cardless withdrawal usage picks up pace; daily average transaction jumps 23 percent since January

USAGE of PSBank’s pioneering cardless withdrawal is picking up pace, as average daily transaction jumped 23 percent at the end of the first quarter as against the average daily transaction recorded at the end of 2017.

Launched in October last year, average daily transaction of cardless withdrawal has steadily increased over the six-month period ending March 2018, said Senior Vice President for Marketing Group Noel Tuazon.

The average daily transaction of cardless withdrawal recorded in October 2017 grew more than fourfold at the end of December last year. The starting base number in 2018, on the other hand, increased 23 percent at the end of March this year.

“The data only proves that the cardless withdrawal feature pioneered by the bank is relevant to meeting the needs of our customers for a secure online or mobile banking environment that allows them to withdraw cash even without an ATM card,” Tuazon noted.

Based on the bank’s data, utilization of cardless withdrawal is particularly high on the 15th and 30th of the month, indicating that clients are using the feature in withdrawing their salaries.

To use the cardless withdrawal feature, clients must log in to their PSBank Online or
PSBank Mobile app; select “Cardless Withdrawal” to create a transaction request; choose the account where the amount will be withdrawn; and type in their nominated four-digit PIN and the amount they wish to withdraw.

After providing the details needed, clients will receive a unique six-digit system-generated PIN 2 that is valid within 30 minutes from the time of the request. After getting the two PIN codes, clients may then proceed to any PSBank or Metrobank ATM to complete their cardless withdrawal transaction.


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