Cardless withdrawal gaining acceptance

Woman using cash machine-ATM,close up view.

Created by Fanjianhua - Freepik.com Cardless withdrawal is gaining public acceptance as the average daily transaction jumped 23% at the end of the first quarter as against the average daily transaction recorded at the end of 2017, said PSBank, the pioneer in platform.

Launched in October last year, the 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 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.

From the average daily transaction of Cardless Withdrawal recorded in October last year, such transactions increased more than four times at the end of December last year. The starting base number in 2018, on the other hand, increased 23% at the end of March this year.

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Mobile app; select “Cardless Withdrawal to create a transaction request; choose the account where the amount will be withdrawn; and type in their nominated 4-digit PIN and the amount they wish to withdraw.

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