Chavit Singson launches VBank digital bank

Former Ilocos Sur governor Luis “Chavit” C. Singson’s VBank digital bank, which will be launched officially today, Sunday in Quezon City, is seen as a groundbreaking move aimed at making far-reaching strides in financial inclusion efforts in the country.

The innovative digital banking platform promises to secure and make convenient the provision of financial services to Filipinos nationwide, marking a significant step toward empowering underserved communities.

VBank will enable users to open a bank account entirely through the app, eliminating the need for tedious paperwork and long queues. Users can send money to all banks and digital wallets, pay bills and even purchase mobile loads through the VBank app.

With over 6,000 nationwide cash-in outlets including Tambunting Pawnshops, Puregold, and Alfamart, VBank ensures seamless transactions even for those in remote areas.

Public demonstration

Singson, of late, has been going around the country giving people in the provinces a public demonstration on how the VBank app works.

“This is not just about banking,” points out Singson. “It’s about giving every Filipino the tools to participate in our economy.”

He underscores further that “VBank makes it possible for anyone, regardless of location, to access essential financial services.”

The VBank digital bank launch starts at 3:30 p.m. during the Blackout Festival at the Bridgetowne Destination Estate along Eulogio Rodriguez Jr. Avenue in Quezon City.

Singson will be assisted by celebrity guest Ai-Ai delas Alas. A press conference will follow at the exclusive VBank lounge.

58 Days Pa-Raffle

Adding excitement to the launch will be the announcement by Singson of the 58 Days Pa-Raffle ni Manong Chavit, a campaign aimed at engaging users and spreading awareness of VBank’s convenient features.

From the start of the launch today, 58 winners will take home P5,800 culminating with one winner of P58,000 daily, and a grand prize of P580,000 awaiting one lucky user on the 58th day.

To join, all that users need to do is simply download the VBank app, create an account, and follow Singson’s official Facebook page for updates.

VBank’s launch is a clear reflection of Singson’s commitment to address the challenges faced by unbanked and underserved communities in the country.

According to the Bangko Sentral ng Pilipinas, nearly 77 percent of Filipinos remain unbanked, relying on informal and often unreliable financial systems.

VBank aims to bridge this gap by providing a secure, user-friendly platform tailored to the needs of everyday Filipinos.

The app’s features are designed to cater to individuals and small businesses alike, fostering economic activity and resilience. Users can manage their finances, access loans, transfer funds, and connect to a broader network of financial opportunities without stepping into a physical bank branch.

Singson’s vision

Singson’s vision for VBank extends beyond just a banking app. “This is the future of financial empowerment in the Philippines,” he said. “We’re not just launching a product; we’re creating growth opportunities, especially in areas like Pangasinan, where access to financial services is limited.”