Finding a diamond in the rough: Tips in purchasing pre-owned homes

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A property seeker is always hesitant when it comes to buying second-hand homes. This is because such properties could eventually cost you a fortune in renovations if you are not cautious.  

Spare yourself from possible buyer’s remorse. PSBank, through its “Good to Know” campaign, help you spot a gem among wide choices of pre-owned houses with these tips:

Know where to look.  The best places to find pre-owned real estate properties for sale are banks and local government institutions such as the Home Development Mutual Fund or PAG-IBIG.  Check out their website and you’ll find the best property deals.  There are also property auctions that these institutions organize.  Some properties not normally listed in their websites are being auctioned here. 

Schedule a visit or inspection.  Determine the real condition of the house yourself by asking a professional inspector for help.  Check if the basic structure, floor plan and infrastructure remain sturdy and durable. Ensure that there’s electrical and plumbing system installed, rooms are well-proportioned and there are no bad cracks or serious leaks. A great buy would be one with no major fixes and you’ll be able to move in to your new home soon.

Consider the location. The location is just as important as the house itself. If it is located within a good school system, a nearby transportation, market or grocery, then finding a home priced to accommodate the necessary updates could be a good deal.

Verify documents. Check the title and latest property tax receipt. The title will not only tell you how old the property is but it will also let you know if the property had a chain of previous owners. 

Check the market value of the property.  To ensure that you will not be paying more than you should, go through the current price trends and get an estimate or seek an expert to help you evaluate the second hand property against similar properties in the area.

Buying an excellent pre-owned property or a second-hand home entails lots of patience and due diligence. However, getting it for a bargain price should be more than enough motivation and be able to convince you that what you purchased is more than what you paid for.  You really just need to know where to look.

PSBank is currently offering significant discount on its already low-priced pre-owned real estate properties for sale.

Buyers looking for quality and affordable pre-owned condominium units, houses and/or lots will enjoy 20% to 25% discount on selected properties when they purchase from December 4, 2018 to March 4, 2019.

Aside from this great deal, you are assured of “clean” pre-owned properties for sale.  This means that each property in PSBank’s list of Real Estate Properties for Sale has a registered title and a tax declaration consolidated under the Bank’s name.  Plus, all properties are free from any legal issues and are already in the possession of the Bank.

To avail of the promo, you simply need to submit a completely filled-out Offer to Buy form and Buyer’s Information Sheet to PSBank Asset Sales Department, at any nearest PSBank branch, or via the Bank’s accredited brokers.  You also have the option to make their purchase in cash or by applying for a PSBank Home Loan with Prime Rebate.

PSBank Home Loan with Prime Rebate offers low interest rates, convenient payment modes, and flexible payment terms.  Applicants will also get a credit decision within five banking days or less via SMS.  Borrowers can also save money by paying early or before the due date or by paying more than their monthly loan amortization.  PSBank Home Loan has the Prime Rebate feature allowing home loan clients to earn rebates in the form of “interest discount” on any advance or excess payments made on the loan. Over time, clients could use the rebates to lower the loan principal, shorten the loan term, or even both.

Check out the list of properties and download the forms at www.psbank.coml.ph/propertiesforsale. 

For more information on the promo, you may call the following:

• Properties located in Metro Manila, Rizal, Visayas and Mindanao: (632) 885-8208 local 8990
• Properties located in North Luzon: (632) 885-8335
• Properties located in South Luzon: (632) 885-8208 local 8016

58 years of empowering Filipinos with continuous financial innovations

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Through almost six decades of providing quality financial products and excellent client services, Rizal Commercial Banking Corporation (RCBC) has established its position as a trusted partner in the growth and success of Filipinos and its various business partners.

Today, the bank continues to strengthen its presence in the community, especially among the unbanked market, by developing accessible financial services to assist them in day-to-day transactions. To make this vision happen, RCBC supports the countrywide goal of the Bangko Sentral ng Pilipinas (BSP) to achieve financial inclusion.

As the bank believes in empowering every Filipino citizen to contribute to the nation’s transformation, it further strives to innovate its services to widen the range of financial services available to the underserved market. One innovation that RCBC has developed is the country’s first digitized cash, ePiso.

Paving the way for cashless transactions 

In line with BSP’s “test and learn” approach, RCBC took a big move in developing the first-of-its-kind digital cash in the Philippines with ePiso. The bank worked closely with international firm eCurrency Mint as they ventured to digital fiat currency technology to design an efficient financial solution for Filipinos.

The RCBC ePiso is digitized money stored in a mobile wallet to enable safe, fast, and affordable payment option that will improve consumers’ daily activities and transactions. The Bank worked closely with BSP to ensure that ePiso has security features that will bring economic benefits and reduce safety risks for the users. 

“We’re really glad to see that RCBC is taking an action towards our shared goal of financial inclusion. We believe that their ePiso project can open opportunities for us to explore how having digital currency can help us achieve a sustainable inclusive ecosystem for the country,” said Mhel Plabasan, BSP core information technology specialist group head and deputy director.

Businesses and consumers can use ePiso to pay bills, purchase goods, and transfer money to other users with the RCBC ePiso mobile app. It is securely protected with a username and password so one can personally track their money and transactions. 

A first try of the country’s digital currency 

In May 12, the commercial bank successfully test-launched its ePiso to residents of Barangay Poblacion in Muntinlupa City. This was followed by a pilot run among farming communities in Valencia City in Bukidnon last May 17. 

In cooperation with sari-sari store owners in Muntinlupa, RCBC held a digital pamilihan ng bayan where individuals and families experienced cashless transaction with their ePiso. With a QR code technology, they used the RCBC ePiso mobile app to scan the merchant’s code for easier purchases. 

“The ePiso was greatly received by the community, with both sellers and consumers testifying about the convenient transactions using the product,” shared JR Guillergan, RCBC head of Digital Banking Group Strategic Initiatives. 

Meanwhile, RCBC and Rizal Microbank made the move to make loan payments to its agri-clients easier by going digital with ePiso. Bukidnon farmers received their loan proceeds from the microbank through the ePiso mobile app and enjoyed purchasing farming supplies from RCBC’s partner retailers. 

“Digital lending is one way that we can support our farmers in their livelihood. It cuts the costs of transportation and transaction fees when going to bank because now they can just open their ePiso app and see that their loans are already credited to their account,” noted Raymundo Roxas, Rizal Microbank president.

Global recognition from digital financial community 

RCBC ePiso has become a source of pride for Filipinos as it was recognized in an international conference and workshop about digital fiat currency technology held in Cornell Tech Campus at New York City, USA last July 18 to 20, 2018.

Along with other financial institutions from around the world, RCBC showcased how they developed a comprehensive digital platform that would promote financial inclusion in the country. The bank was acknowledged for its progressive efforts in making day-to-day financial activities more secure and efficient for Filipinos with the ePiso digital currency.

Corn farmers in Bukidnon province can now instantly receive their financial loans from Rizal Microbank with the RCBC ePiso mobile app as it moves to load digital cash in the farmers’ ePiso mobile wallet. “Digitizing our peso bills and coins allows us to ensure, safer, faster, reliable means for economic activity to thrive in the communities we serve. This is digital inclusion, one barangay at a time,” said Margarita Lopez, head of RCBC Digital Banking Group.

As RCBC celebrates its 58th year, the bank solidifies its role as an industry leader that brings revolutionary financial services and digital products to both businesses and consumers. With ePiso, RCBC is empowering the unbanked market to have access to easy and secure transactions to help improve their lives. It continues to believe in Filipinos, enabling them to become the best that they can be and assisting them towards an inclusive nation.

RCBC Bankard launches new Platinum card with JCB

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Manila, Philippines and Tokyo, Japan March. 22, 2018 –: JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the launch and issuance this month of a new Platinum card in the Philippines issued by Rizal Commercial Banking Corporation (RCBC), one of the top Universal Banks in the Philippines, through its Card Servicing entity, RCBC Bankard Services Corporation (RCBC Bankard). 

JCB Cards are currently issued in 23 countries and territories with over 100 million cardmembers around the globe. RCBC Bankard started issuing Classic and Gold JCB Cards in the market in 1997. The launch of this latest product in the Platinum card market marks a milestone in the long-standing partnership between RCBC Bankard and JCB. 

The RCBC Bankard JCB Platinum card is packed with prestige and privileges, providing its cardholders with world-class benefits, including free Airport Lounge Service, discounted car rental services worldwide, 24/7 Concierge Desk, and access to JCB Plaza Lounges located in major cities. In addition, they can also benefit from a generous rewards program with non-expiring rewards points, cash rebates, or airmiles. Cardholders also get to double their rewards even faster when they use their RCBC Bankard JCB Platinum card in Japan. 

JCB provides various services to cardmembers which the new RCBC Bankard JCB Platinum cardholders can avail of. In the Philippines, JCB has many privilege merchants for dining, hotel, wellness, and e-commerce. 

“We would like to provide our premium clients with more options. The launch of the RCBC Bankard JCB Platinum card will definitely appeal to accomplished individuals who frequently travel abroad for both business and pleasure. Noting the increase in Filipinos visiting Japan and the issuance of multiple Visa entry, we anticipate that our premium cardholders will be going to Japan more often. Hence, we doubled the points/airmiles that they can earn using the RCBC Bankard JCB Platinum card for spending made in Japan. The partnership with JCB enhances the privileges even more since they offer worldwide benefits to the JCB cardbase which our cardholders can take advantage of” states Simon Calasanz, President and CEO of RCBC Bankard. 

For his part, Senior Vice President of JCBI Yuichiro Kadowaki, has expressed, “We are pleased that RCBC Bankard, an expanding credit company showing the strongest growth in the Philippines, has launched this new Platinum card. Our partnership has been strong for more than 20 years, and we are now stepping up to the next stage with the new product. Both of us are keen to provide a good product and services to customers of RCBC who are interested in Japanese culture and those who travel to Japan. Filipino tourists going to Japan exceeded 400,000 in 2017 and there will be more in 2018. We provide lounge services at 28 airports in Japan and 29 airport lounges in other countries, mainly in Asia. Other than this, Platinum JCB Cardmembers get exclusive access to　Universal Studios Japan JCB Lounge. We hope RCBC Bankard customers will enjoy our services.”

ABOUT RCBC BANKARD:

RCBC Bankard Services Corporation (RBSC) is the Card Servicing entity of Rizal Commercial Banking Corporation (RCBC), one of the Philippines largest private universal banks. RCBC and RCBC Bankard Services Corporation are members of the Yuchengco Group of Companies (YGC). RCBC Bankard provides unique and world-class cashless transactions, versatile add-on services, and an innovative rewards program to its cardholders. For more information on RCBC Bankard, visit http://www.rcbcbankard.com/ .

ABOUT JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.

For more information, please visit: www.global.jcb/en/   -  http://ph.jcb/ -- http://ph.jcb/

PNB reopens branch in Marawi City

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True to its mandate of putting the needs of its customers first, Philippine National Bank reopened its Marawi Branch recently – the first bank to open in the city after the siege. 

The branch is located inside the Mindanao State University (MSU) campus. A day before it reopened, the bank was also the first to resume operations of ATM units – one machine in the MSU campus branch and another in the Capitol area. 

PNB’s Retail Banking Sector Head and EVP Bernie H. Tocmo underscores how the bank remains committed to serving the needs of its clients. “We knew that as soon as the dust had settled, we had to be ready to serve our customers,” he says. “We are focused on being a solid and dependable financial partner as Marawi starts to rebuild lives and businesses.” 

PNB Marawi Branch operates from Monday to Friday, from 9:00am to 12:00pm. As of September 2017, PNB has more than 680 branches and over 1,000 ATMs nationwide. The Bank has the widest international footprint among Philippine banks with 71 overseas branches, representative offices, and remittance centers and subsidiaries across Asia, Europe, the Middle East, and North America.

To know more about PNB, visit its official website: www.pnb.com.ph. 

About PNB

Philippine National Bank is one of the country’s largest private universal banks in terms of assets and deposits. It provides a full range of banking and other financial services to its highly diverse clientele comprised of individual depositors, small and medium enterprise, domestic and international corporations, government institutions, and overseas Filipinos. Backed by a century of stability and excellence, PNB looks forward to another hundred years of serving its customers first.

UnionBank Launches The ARK , the first fully digital bank branch in the Philippines

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UnionBank officially launched The ARK, the first fully digital bank branch in the Philippines last November 27. UnionBank, consistent with its role as the technology-leader among banks in the country,  continues enhancing digital banking.

Using digital technology to augment an actual banking experience, The ARK by UnionBank delivers on its promise of a new digital platform experience in banking.

“The ARK was established by UnionBank to address the common pain points in banking. Falling in line, getting a number before being attended to, spending a lot of time in the bank which could have been used in, otherwise, more productive endeavors. It is also meant to satisfy the diverse and changing needs of our customers,” explained UnionBank President and Chief Operations Officer (COO) Edwin R. Bautista.

Bautista explained that The Ark provides an interactional experience rather than a transactional space.  It could also be used as a 3^rd space for different communities to get together.

The ARK, as a concept branch/ “lab,”also serves as a platform for the clients to co-create an ideal banking experience by closely looking into what the clients’ needs and wants when it comes to banking. 

Digital natives would find The ARK as the perfect bank branch that fits their lifestyle.

For non-digital natives, however, The ARK serves as their bridge that comfortably leads them from traditional to digital banking.

“The ARK provides a service unlike any other.  There are no lines, no numbers, hardly any forms to fill up, just highly-trained bank ambassadors ready and happy to give personalized service to each and every client. Every client here receives the proverbial VIP service,” Bautista adds.

At The ARK, a client is treated like a guest, welcomed by the bank ambassador who hands him a tablet to select his transaction.  The bank ambassador may usher the guest to the coffee area where he could enjoy his espresso while waiting for the bank ambassador to facilitate his transaction. The guest will also be able to maximize his time while at The ARK and do some work as the branch is equipped with high-speed internet.  Customized and comfortable seats are provided for The ARK guests.

UnionBank Chairman and Chief Executive Officer Justo A. Ortiz said that it should not come as a surprise for UnionBank to come up with The ARK, which is seen as the bank of the future.

“UnionBank trailblazed digital banking in the Philippines and we continue with our efforts to use technology and enhancing digital banking capabilities in order to provide the best customer experience for our clients,” Ortiz said.

UnionBank has recently been awarded as the Best Digital Bank at the Asiamoney Banking Awards 2017, held at The Ritz-Carlton in Beijing, China, last September 26, validating its position as the best digital bank in the country.

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier graced the launch of The ARK and hailed UnionBank for its future-ready innovations which are at par with international banking standards. 

Fonacier said that BSP believes in financial technology as both an opportunity and a challenge to the banking sector. 

BSP records show that 25% of current bank clients use mobile banking technologies in their transactions and this number is predicted to grow exponentially over the years. 

“Our banks need to be equipped with sound digital strategies for them to cope up with these digital innovations to better serve their clients. BSP will also be aggressively pursuing reforms to support our banks through an enabling regulatory environment,” Fonacier adds.

The ARK is located at the Insular Life Building at Ayala Avenue corner Paseo de Roxas in the Makati Central Business District. 

BPI-Philam offers easy adulting and total wellness to millennials

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Financial planning is a topic most millennials rarely consider. This is often seen in behaviors of impulse purchases—using their hard-earned money in things that are temporarily meaningful, that at times lead to a feeling of regret, or what is simply called a grudge purchase.

A Goldman Sachs study revealed that generation "ME ME ME" would rather save up for vacations and leisure activities to enjoy their life now than invest in their future--marriage, a home, their own business, retirement plans. This despite financial institutions constantly encouraging them to favor savings and investments.

For Surendra Menon, CEO of BPI-Philam, millennials can choose to have the best of both worlds.

“They can live their present life to the fullest and have a secured future at the same time. It's a misunderstanding that has to be clarified—protecting your future is simply making sure you can enjoy the lifestyle you have now and for the years to come." - - Surendra Menon

Hierarchy of needs

For Menon, gone are the days when insurance is seen as a contingency plan for sickness and death. 

BPI-Philam now offers themselves as a partner for total wellness – securing both physical and financial health, providing better value for money.

He mentions BPI-Philam’s comprehensive health products that lend a hand in living a better life all throughout, and not just when illness strikes.

"Millennials have been hailed as the most health-conscious generation," Menon attests. 

"For them, wellness is a priority. They are willing to spend money to exercise regularly and eat healthy. Our priority is the same, that's why we've integrated ways for them to maintain that lifestyle with our products."

One of the ways BPI-Philam does this is by providing Philam Vitality with their policies—a wellness program designed to reward the policy owner for being and staying active.

“Through Philam Vitality, we’re encouraging them to take that first step to wellness and keep at it by giving them unparalleled rewards and exclusive access to partners like gyms and medical facilities,” said Menon.

The Adultier Adult

He understands that taking the first step to financial planning through insurance might be a big leap from what millennials are used to. Menon assures them that they are on the right track of independence, or simply put, getting better at adulting.

"This new generation of consumers is just wary of where they put their money. They aren't ignorant of insurance," he said. "They just want to be assured that they are getting the value in return of what they pay for. Convenience and customizability are also a factor. We have all of those, but what we truly offer is peace of mind and a way to the wellness of the body.”

To make it simpler for millennials to step out, BPI-Philam eases them into planning forward through platforms that will keep up with their mobile lifestyle.

"These products are available and offered in all BPI branches across the country," Menon enthused. "Whether offline or online, we are prepared to serve.”

Aside from a bancassurance team ready to assist them anywhere in the Philippines, getting a hold of the most fitting policies have been made easier online through their website as well.

Menon also urges them not to look at these plans with the future as an ultimatum to get adulting done but to look forward to an assured future and live a life of total wellness.

"These plans aren't short nor long-term," he adds. "one should always look at what’s an appropriate term for yourself to ensure you get the best value for your money. Our products are based on the appropriate term for your needs.”

Menon hopes informing this generation better of what financial wellness plans are available would align them to the direction they dream their lives would go. 

He believes that with the right financial mentor encouraging them, they will surely gain and win in each key moment in their lives.

"I think they are done hearing what they could do," he said. "It's time we show them that we believe what they can do."

To take the first step in living life to its fullest, visit: https://www.bpi-philam.com/en/our-products.html

About BPI-Philam

BPI-Philam Life Assurance Corp., is a strategic alliance between two leading companies in the country – The Philippine American Life and General Insurance Company (Philam Life) and Bank of the Philippine Islands (BPI). Philam Life is the premier life insurance company in the Philippines and the market leader for over 60 years. BPI is a leading commercial bank in the country with over 160 years of experience in the local banking industry and an extensive branch network of more than 800 branches and 1,500 ATMs.

BPI-Philam’s professional and expertly trained Bancassurance Sales Executives are assigned in BPI branches nationwide to render financial advisory services that address customer’s financial and protection needs.

With the combined expertise and resources of these two trusted companies, BPI-Philam policyholders are assured that their insurance is backed by financial strength and stability.

RCBC reveals “We believe in you” philosophy

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Rizal Commercial Bank Corporation (RCBC), one of the leading universal banks in the Philippines, today unveils its new corporate logo and tagline “We believe in you,” which signals the start of a new era of providing excellent and trusted banking services for Filipinos.

“This milestone signals the arrival of a more committed, refreshed and re-energized RCBC, that is ready to meet the demands of the ever-changing Philippine banking industry,” said RCBC President and CEO Gil A. Buenaventura.

“We believe in you” is not just a tagline for RCBC, but a battle cry to show our unwavering support and trust to the indomitable Filipino spirit. At the same time, this new corporate thrust is meant to encourage Filipinos not only to dream, but to pursue their passions and dreams, and turn them into reality – whether it’s traveling to your dream destination, venturing into a new business, or purchasing a new home or car,” Buenaventura stressed.

The simpler, younger and more minimalist logo embodies RCBC’s new mission of being more accessible to younger Filipino depositors, who are looking for better ways to save and grow their money, the RCBC president added. 

Ces Natividad, RCBC Chief Marketing Officer, reveals that the new logo and corporate tagline are the bank’s response to the changing market.

“We wanted to know what products and services today’s depositors actually need, and we strived to understand what makes them believe and trust a particular bank. We realized that today’s depositors need an approachable bank that responds to their needs, and believes in the value of their dreams and aspirations,” Natividad shared.

“RCBC wants Filipinos to know that the bank believes that there is no limit in the things they can achieve if they decide to start building their future early, especially with a strong banking partner, ready to advise them every step of the way. We are providing more emphasis to younger depositors, who need more guidance in managing their money,” Natividad added. 

Estimates from the Philippine Statistics Authority showed that 1/3 of the Philippine population are millennials. A 2015 Labor Force Survey, also by the PSA, showed that 47.1 percent of the 42 million labor force belongs to the 15-34 age group. This means that more and younger Filipinos need bank services to manage their finances.

Natividad cited a wide array of RCBC products that allow customers to save and conveniently manage their finances. These include RCBC’s Debit Cards, which depositors can get when they open an RCBC savings or checking account. She also emphasized RCBC’s product portfolio which customers can manage online such as the Unit Investment Trust Funds and iSave, an automatic deduction from existing RCBC accounts, done every payroll, which helps depositors to set aside money for future use.

Natividad also cited the unli 0% option of RCBC Bankard, which gives cardholders the flexibility to manage their expenses.

The bank’s brand refresh comes as RCBC enters its 57th year of excellent business in the Philippines. The bank reached a consolidated net income of P1 billion in the first quarter of 2017. It also showed more strength as assets increased to P526 billion as of March 2017. RCBC’s total number of branches also increased to 489 while ATM terminals increased to more than 1,500 nationwide as of the first quarter of 2017. 

“We are confident that the new brand logo and new corporate tagline, and the re-energized service of the bank, will resonate with more Filipinos. We believe that they can accomplish great things if they put their hearts and mind into it, and RCBC will always be their partner to help them succeed,” Natividad added. 

EastWest issues EMV-compliant cards

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EastWest Debit Card equipped with EMV and Visa PayWave

In line with with the mandate of the Bangko Sentral ng Pilipinas (BSP) to migrate to the more secure chip technology, EastWest has been issuing EMV and Visa payWave-equipped debit, credit, and Travel Money cards. The bank’s ATM switch is already EMV compliant and all its ATMs are EMV-capable. 

In 2016, ahead of BSP’s deadline, EastWest completed the shift for all its credit cards to EMV & payWave. This was followed in January this year by the release of the EMV & payWave-equipped EastWest Travel Money Card, the first multi-currency prepaid card in Southeast Asia, and EastWest Debit Card.

EastWest has been issuing EMV debit cards as early as May 2015. Customers who opened accounts from that period onwards already have chip cards. Starting this year, EastWest began issuing debit cards that have both EMV and payWave for enhanced security, convenience, and global acceptance. Meanwhile, the bank is providing customers who opened accounts before May 2015, with free debit cards with EMV & payWave to replace their magnetic stripe-only debit cards.

EastWest Debit cardholders are advised to go to their store of account to claim their free replacement cards until May 31, 2017. Card replacement is automatic for non-EMV debit cardholders. 

EMV stands for Europay, MasterCard, and Visa, and is the global standard in card payment security. Its chip-on-card technology feature serves as an anti-counterfeit fraud solution that provides strong security features against theft, cloning, and card fraud. Meanwhile, Visa payWave is a contactless payment feature for quick tap-and-go transactions. It is also a more secure way of paying because the card does not leave the customer’s hand at checkout.

EastWest’s chip cards are accepted at over 30 million Visa-affiliated establishments worldwide, over 350,000 Visa-accepting online merchants, over 2,000 BancNet-accredited establishments nationwide, and more than 1.9 million ATMs in the Philippines and abroad. Customers can also use the cards to enroll in EastWest Online to enjoy secure and convenient internet banking. In addition, EastWest Debit cards are ideal for receiving remittances from other countries via Visa Direct.