ABOITIZ-LED Union Bank of the Philippines has extended loan payment deadlines (including credit card, housing and automobile loans) and the waiving of online InstaPay transfer fees via the UnionBank Online app until June 15.
Via its financial technology arm UBX, UnionBank has also offered loans to small businesses coping with the impact of enhanced community quarantine (ECQ)-related measures.
During the early part of the ECQ, UnionBank announced an upgrade of its existing online app to enable users to directly transfer funds nationwide to remittance centers such as Cebuana Lhuiller, LBC, Pera Hub and Palawan Express. This feature continues to be useful for clients who may need to transfer funds in areas under modified ECQ or general community quarantine.
“This was a project we were talking about even before the lockdown. We were able to do it in just three weeks. This shows how the agile way of working has really taken root,” said Edwin Bautista, UnionBank president and chief executive officer.
To help customers gain knowledge on the benefits of digital banking, UnionBank also rolled out “UnionBank Talks Digital,” a series of talks and educational sessions featuring banking industry leaders.
UnionBank has also continued to deploy its 5G-enabled mobile banking kiosk “Bank on Wheels” to various parts of Metro Manila. It has also continued support to key industries like petroleum, food manufacturing, food packaging, food retail/wholesale, logistics, brokerage, transport, health care and health-related firms to guarantee that the country’s supply chain is not disrupted.
UnionBank subsidiary CitySavings has extended the 30-day grace period for loan due dates falling within the ECQ and modified ECQ periods in compliance with the Bayanihan to Heal as One Act. As of May 26, a number of CitySavings branches are already open nationwide with shortened operating hours to serve its customers. / PR