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| (Image Source: Cebuana Lhuillier) |
More than five million Filipinos now has a Cebuana Lhuillier Micro Savings account which is a landmark achievement for Cebuana Lhuillier Rural Bank (CLRB), the banking arm of leading microfinancial services company Cebuana Lhuillier, since it was launched in February 2019 and eventually leveled up in December 2020. A basic deposit account that eliminates the need for numerous documentary requirements and maintaining balance or dormancy charges, the Cebuana Lhuillier Micro Savings product can be availed at more than 2,500 Cebuana Lhuillier branches nationwide acting as CLRB's cash agents.
As an enhancement to the product, CLRB mounted Discover Your Ipon Power: The Cebuana Lhuillier Micro Savings 2.0 Launch where the bank unveils new features for the Cebuana Lhuillier Micro Savings product including cashless payments in partnership with UnionPay, access to automated teller machines (ATMs) powered by Bancnet, easier and more convenient online transactions made possible through the eCebuana app, and QR technology. Dubbed as today's "Iponaryos", Cebuana Lhuillier Micro Savings account holders are more empowered to take command of their feature because of their product's transformation from a basic cash deposit account into a reliable and more powerful full-service savings account.
Through CLRB's partnership with UnionPay and Bancnet, "Iponaryos" are enabled to make debit payments through over 350,000 POS (point-of-sale) terminals and partner merchants, enjoy enhanced payment security with UnionPay chip cards' quick payment process using contactless technology, and withdraw their hard-earned cash beyond any Cebuana Lhuiller branch nationwide serving as a CLRB cash agent through Bancnet's roster of 114 member banks and 21,000 ATMs. On the other hand, KaCebuanas will also have full online access for their microfinancial transactions through the more efficient and more powerful eCebuana app which includes new features such as pawning ticket renewal and jewelry purchases aside from money transfer via Instapay, bills and utility payments, eLoad and insurance packages. The service will soon sport QR technology making money transfers and retail payments more seamless and more secured.
“We are elated that there are more and more Filipinos every day who are realizing the importance of saving and are taking charge of their future. It is very exciting that these 5 million Micro Savings account holders are not only on the first step to financial wellness, but because of our amped up product, are also Financially Mobile individuals,” said Cebuana Lhuillier President and CEO Jean Henri Lhuillier. “5 million Filipinos are taking a step further into a promising future with our powered up Cebuana Lhuillier Micro Savings, we are confident that even more Filipinos will soon take hold of their Ipon Power,” added CLRB President Dennis Valdes.
