Protect Your Digital Activities Amid Surge in Online Scams

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As online fraud reaches unprecedented levels, Filipinos are reminded to stay vigilant and strengthen their digital security—a key message underscored by Safer Internet Day, an annual global movement advocating for a safer and more responsible online experience.

According to the Cybercrime Investigation and Coordinating Center (CICC), cybercrime complaints more than tripled in 2024, with 10,004 cases filed—a staggering rise from 3,317 in 2023.¹  These scams led to PHP198 million in total financial losses, highlighting the growing sophistication of fraud, particularly consumer fraud and online financial fraud, which together account for 67% of all reported cases. Fraudsters continue to exploit deceptive tactics such as fake online sales, impersonation scams, investment fraud, and phishing to steal sensitive information like passwords and one-time PINs (OTPs).

Recognizing the growing vulnerabilities of OTPs, the Bangko Sentral ng Pilipinas (BSP) is pushing for stricter security regulations to strengthen the country’s financial cybersecurity framework. As part of this effort, the BSP has proposed regulatory changes aimed at enforcing Republic Act No. 12010, or the Anti-Financial Account Scamming Act (Afasa), which was signed into law last year to combat financial cybercrimes. This includes requiring banks to continuously enhance their security infrastructure, implement stronger authentication measures, and adopt more advanced fraud detection systems to stay ahead of cybercriminals².

PSBank is reinforcing its commitment to security through key enhancements to its PSBank Mobile app. Clients now have the ability to lock access to their accounts on platforms they don’t usually use, ensuring that their PSBank accounts remain restricted to their preferred and regularly utilized channels. They can also lock or unlock their ATM cards through the app, providing an extra layer of protection against unauthorized transactions.

Beyond security, PSBank Mobile continues to simplify digital banking with a faster, more seamless account opening process, removing the waiting period for verification and allowing customers to open an account with just one valid ID and a selfie. The app also offers zero initial deposit requirements, real-time bill payments, RFID reloading for tolls, and lower InstaPay transfer fees—ensuring that users can enjoy safe and hassle-free banking.

While security systems evolve, vigilance remains the most powerful defense against online fraud. To minimize risks, users are encouraged to follow these key digital safety practices:

1. Verify sender identities – Always double-check emails, messages, or calls claiming to be from banks or government agencies. Scammers often impersonate trusted institutions.

2. Avoid clicking on suspicious links – Phishing scams rely on fake websites that mimic legitimate platforms to steal login credentials. Always access bank websites and apps directly.

3. Use strong, unique passwords – Avoid using the same password across multiple accounts. Enable two-factor authentication whenever possible.

4. Never share banking credentials – Banks will never ask for your PIN, OTP, or account details via email, text, or call. If someone requests this information, it's likely a scam.

5. Monitor account activity regularly – Frequently check your bank statements and transaction history for any unauthorized activity. Report suspicious transactions immediately.

6. Report scams promptly – If you fall victim to fraud, contact your bank and report the incident to the government’s 1326 cybercrime hotline, available 24/7 to assist victims.

As cybercriminals continue to innovate, fortifying your digital security is no longer just an option—it’s a necessity. This Safer Internet Day serves as a strong reminder that while financial institutions enhance their digital defenses, users must also remain proactive and vigilant. Fraudsters may adapt, but with the right security measures and a well-informed digital banking community, Filipinos can continue transacting online with confidence.

For more information on safe digital banking practices and the latest news on the PSBank Mobile App, visit www.psbank.com.ph or follow PSBank on Facebook and Instagram.

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1  Philippine News Agency. (2025, January 31). Scam complaints triple in 2024 – CICC. https://www.pna.gov.ph/articles/1243101

2  Bangko Sentral ng Pilipinas. (2025, January 22). Amendments to Regulations on Information Technology Risk Management to Implement Section 6 of the AntiFinancial Account Scamming Act (AFASA). https://www.bsp.gov.ph/Regulations/Issuances%20of%20Policy%20Exposure%20Drafts/Exposure-Draft_Amendments-to- Regulations-on-IT-Risk-Management-to-Implement-Section-6-of-the-Anti-Financial-Account-Scamming-Act.pdf

Simplifying success: PSBank celebrates 64 years of excellence by helping Filipinos realize their financial goals

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Philippine Savings Bank (PSBank) marks its 64th anniversary with a continued commitment to delivering simple, reliable, and innovative banking services that help Filipinos achieve their financial goals, from growing their hard-earned money, to homeownership, vehicle financing, and more.

A Legacy of Financial Growth

PSBank’s sustained financial growth is fueled by strong loan demand and a customer-focused approach. In 2023, the bank achieved a record-high net income of PhP 4.53 billion, a 23% increase from the previous year. The first half of 2024 saw continued success, with net income reaching PhP 2.56 billion.[1] PSBank stands as the leading thrift bank in the Philippines in terms of total assets as of end-March 2024[2], further cementing its strong position in the consumer banking sector and maintaining leadership in the auto loan market among local thrift banks[3].

Simple Lang, Maaasahan: Simple and Fast Loan Approval Process

PSBank has been making strides in simplifying the loan application process, offering quick and easy approvals to customers looking to invest in homes and vehicles. PSBank aims to help Filipinos move forward with their financial goals without delay.

The Bank’s total gross loan portfolio registered a 10% growth or PhP 132 billion by the end of June 2024 versus last year's PhP 120 billion, with auto loan as its driver for growth. With its commitment to making loan approvals fast and easy, PSBank ensures that Filipinos can access their financial needs with minimal hassle. It also has a wide variety of home loan accredited developers and auto loan partners that aspiring homeowners and car buyers can choose from.

Simplified Banking Experience Through Innovation

Throughout its 64-year history, PSBank has consistently embraced innovation to meet the evolving needs of its customers. With the commitment to being always forward, over the years the Bank introduces products and services to make Filipinos banking transactions more straightforward and seamless.

PSBank Mobile app enables customers to manage accounts and make transactions anytime, anywhere. Its online account opening only requires one valid ID, a selfie, and a few taps on the app, one can open a Peso Savings account. Mobile Time Deposit placement, meanwhile, allows opening a time deposit via the app for a minimum placement of PhP10,000 and it can earn within 30, 60, or 90 days. No need to take a bank errand when depositing checks to have it cleared. Simply take a photo using PSBank Mobile and the check will automatically be deposited (for clients with at least PhP50,000 average balance).

Apart from the Bank’s mobile app bills payment service, in 2023, PSBank allowed payments via quick response (QR) code for billings issued by participating merchants using QR Ph, the country’s QR code standard. This enhancement not only leads to better and more effortless customer and merchant experiences, but also to greater usage of digital payments aligned with the BSP’s push for a cashless society.

The Bank’s ongoing digital transformation also includes cutting-edge services like cardless withdrawal wherein PSBank ATM cardholders can withdraw at any PSBank ATMs even without their cards; Queue Anywhere service allows clients to create a queue ticket for their bank transaction online to skip the wait time at lining up during their branch visit. For those traveling to the North or South of Luzon, one can load Autosweep and Easytrip Toll RFIDs real-time with PSBank’s Toll RFID reload feature.

In continuously stepping up its efforts to assure clients that there are systems in place in securing their accounts, clients can lock access to their accounts on platforms they don’t usually use, ensuring that access to their PSBank accounts is restricted to their preferred and regularly utilized channels. They also have the option to lock or unlock their ATM card, an extra layer of security against unauthorized transactions.

PSBank is always forward to simplifying every Filipino’s banking experience and to push it further, PSBank launched the "Ito Simple" campaign, reinforcing its commitment to simplicity and reliability. This campaign depicts the rawness of the daily routine and usual life struggles of most Filipinos--there may be the hard way of doing things, but there is also the PSBank way– providing accessible and straightforward financial solutions that meet their everyday needs.

For more information on PSBank’s products and services, visit psbank.com.ph or follow PSBank on Facebook, Instagram, and TikTok.

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[1] Philippine Savings Bank, PSBank hit record PhP2.56B Net Income in 1H2024, up 18%. https://www.psbank.com.ph/whats-new/

[2] Bangko Sentral ng Pilipinas, Thrift Bank Total Assets as of 31 March 2024. https://www.bsp.gov.ph/Statistics/Financial%20Statements/Thrift/assets.aspx

[3] Philippine Savings Bank, 2023 Annual Report, p. 3 https://www.psbank.com.ph/media/7891/2023-psbank-annual-report.pdf

Road trip this long weekend? Here are some tips to keep it hassle-free

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With the long weekend coming up, many Filipinos are gearing up for a well-deserved break. Road trips are a popular choice during this time, especially to beach destinations as summer approaches.

Here are some tips to ensure your road trip is smooth sailing:

1. Plan your route.

Long weekends may involve road closures, maintenance, or construction, so it’s best to check the news for updates. Navigation apps will prove helpful during this time. The holiday rush may also affect traffic, so beat other travelers by leaving earlier, if possible.

 

2. Check your car.

A vehicle in top condition will be your best friend during a long journey. Ensure your tires are aligned and balanced, car fluids and battery are secure, and lights and turn signals work. Inspect your car before the trip to ensure everyone’s safety.

 

3. Pack essentials.

Long drives call for ample snacks to keep hunger at bay and a steady water supply to prevent dehydration. Bring essential medications and a first aid kit for any untoward incidents.

 

4. Go cashless.

Long lines at ATMs during holidays are inevitable. Embrace hassle-free travel by going cashless. Opt to pay through bank transfers, QR codes and the like.

5. Use Easytrip and Autosweep RFIDs.

Streamline your tollway transactions with RFID payments. By eliminating the need for cash transactions, drivers can breeze through tollways, avoiding long lines and unnecessary delays.

For a stress-free road trip this long weekend, effortlessly set up a PSBank account by simply downloading their mobile app. Enjoy cashless transactions through QR codes, and instantly reload your Easytrip and Autosweep RFIDs with PSBank.

For more information on PSBank’s products and services, visit psbank.com.ph or facebook.com/psbankofficial.

PSBank Extends its Payment Grace Period for All Loan Clients

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Manila, PH (April, 2020) – With the extension of the Enhanced Community Quarantine from April 13 to 30, 2020 and in compliance with the ‘Bayanihan To Heal As One’ Act, Philippine Savings Bank continues to provide valuable assistance to all of its loan customers during these challenging times.

Loan payments for all types of loans with due dates falling within the new ECQ dates will further get a 30-day grace period. This adds to the loan payment moratorium that the country’s maaasahan bank granted the previous month, for loan dues beginning March 15, 2020.

For more information, visit the PSBank website or facebook.com/psbankofficial or refer to the Frequently Asked Questions below: 

1. Who are / Am I qualified for the grace period on amortizations due for payment?

All loan clients/ accounts are qualified.

2. What type of loan products are covered by this grace period?

All types of loans – Home, Auto, Flexi & Multi-Purpose Personal Loans, SME, Corporate, Deposit-Collateral

3. What are the inclusive due dates covered by the 30-day grace period on amortizations due for payment?

With the extension of the ECQ to April 13 to 30, 2020, loan payments for all types of loans with due dates falling within the new ECQ dates will further get a 30-day grace period. The same loan payment moratorium was granted earlier to loan dues beginning March 15, 2020.

Any payment due falling in the covered dates may not be paid. Payment of your loan/s will continue after the end of ECQ. Your loan maturity date will be moved further by 1 or 2 months depending on the number of amortizations which were granted a grace period for payment.

For Flexi / Multi-Purpose Personal Loans, those included are accounts whose statement cut-off dates fall between March 15 and April 30, 2020.

To illustrate --

For Auto, Home, SME, Corporate and DCL:

    Original Payment due date: March 17, 2020

    Adjusted/New due date: May 17, 2020

    Original Payment due date: April 12, 2020

    Adjusted/New due date: May 12, 2020

For Flexi/Personal Loan:

    Original SOA cut-off date: March 15, 2020

    Adjusted/New SOA cut-off date: May 15, 2020

    Original SOA cut-off date: April 10, 2020

    Adjusted/New SOA cut-off date: May 10, 2020

4. Does this mean that I have to double my amortization on my next due date (after extended ECQ ending April 30,2020)?

No. You will NOT PAY DOUBLE on succeeding due dates after the covered period. “HINDI ka namin sisingilin ng DOBLE ng regular na amortization mo matapos ang April 30 kung kailan inaasahan naming muling maguumpisa ang pagbayad ng loan (pagkatapos ng ECQ).”

Your loan maturity date will be moved further by 1 or 2 months depending on the number of amortizations which were granted a grace period for payment.

Example:

Due Date: every 16th of the Month

No. of payments covered by the grace period: 2 ( March 16 & April 16)

Current/Original Maturity Date: April 1, 2021

New Maturity Date: June 1, 2021*

*You may need to submit another check or adjust your auto debit arrangement to cover for the May & June 1, 2021 due dates.

You may do advance payment should you wish to shorten the entire loan term.

5. Is this only applicable for Metro Manila booked accounts?

No. The grace period will cover all loan accounts booked NATIONWIDE.

6. Do I need to sign anything? Any loan amendment document?

No need to sign any documents. Adjustment will be made in our system. No need to sign any amendment documents.

7. What will happen to my post-dated check for my present due date/s ( within the covered period)? Will you hold the check?

Yes, we will automatically hold the post-dated check if your due date falls within the covered dates of the grace period. There is no need for you to request for deferment of check. You may need to issue another check/s to cover for the month/s as a result of the adjusted maturity date of the loan.

8. My loan will mature within the year. Do I still need to submit another check?

Yes, if your remaining loan term is 6 months and up.

For those with remaining term of less than 6 months, the Bank has the option to apply your held check to your adjusted last due date provided the check is not yet stale. You will receive an SMS notification on this.

9. My mode of payment is via Auto-Debit Arrangement. Will you still debit my deposit account on my due date?

We will automatically hold the debiting of loan payment within the covered period.

Debiting of loan due will resume on your next due date after the covered period for grace period ending April 30, 2020.

PAYMENT OF YOUR LOAN/S WILL CONTINUE AFTER THE END OF ECQ.

10. What if I want to be excluded from the grace period? I have funds now to pay for my loan due.

For over-the-counter (OTC) payments, you may visit any branch to pay for your loan due. You also have the option to pay online, thru the PSBank Mobile app, or via ATM.

For those whose mode of payment is via Automatic Debit Arrangement (ADA) or Post-dated Check (PDC), you may call our CX Hotline (02) 8845-8888 or email us at customerexperience@psbank.com.ph to request for manual debit or posting of your check payment.

11. What if I already paid for my loan last March 15-17 (before the announcement), can I request for a refund?

Your payment has been posted to your loan account. For now, there will be no refund.

12. Can I request for more than the grace period given?

No. For now, we will follow the rules on the granting of grace period for loan payments falling due during ECQ. Note that when payments on the loan resume after April 30, 2020, you will not be paying double your regular amortization in any month. Your maturity date will only be further extended accordingly.

Note: If you are qualified for the grace period assistance and the corresponding adjustment was not applied to your loan, please call us at our 24/7 CX Hotline (02) 8845-8888. We would be glad to process the adjustment. Thank you!

Contact us:

24/7 Customer Experience Hotline: (02) 8845 – 8888

Email: customerexperience@psbank.com.ph

PSBank Live Chat: www.psbank.com.ph

ISSA Chatbot: Facebook.com/psbankofficial

Embrace New Beginnings Partner with PSBank this 2020

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The New Year is undoubtedly one of the most exciting times of the season. This is the period when people, young and old alike, take the chance to remember the events of the year that has passed and look forward to the many opportunities that are in store for them.

As families and individuals enter a new decade, goals are created, revived, and are actively set in place. PSBank, as everyone’s “simpleng maaasahan bank” recognizes these aspirations in the lives of its customers—and purposefully presents solutions that allow it to be a reliable, consistent partner in the achievement of these important plans.

With its wide, innovative, and secure range of banking services and products, PSBank ensures that excuses fly out of the window—surely, there is no better time to seize the moment and take the chance to live life to the fullest.

Check out these PSBank offerings today, and see how you can make 2020 your best year ever:

PSBank ATM Savings – Grow your money and have the benefit of earning a fixed interest rate with a bank you can trust, as you work towards accomplishing your goals. Have the privilege of accessing your account anytime of the day via PSBank, Metrobank, and BancNet ATMs nationwide, as well as Mastercard ATMs worldwide.

PSBank Cardless Withdrawal – Forgot your ATM? PSBank assures you that you don’t have to worry about it, ever. With just a few taps on your smartphone, you’ll able to safely withdraw your hard-earned cash from over 599 ATMs nationwide. That’s peace of mind—right in the palm of your hand.

PSBank Mobile Check Deposit – New year, new way of depositing checks. No longer do you have to physically go to a bank to get them cleared. Now all you have to do is take a photo through PSBank’s Mobile App, and you’re all set.

PSBank PaSend – Sending cash is no longer a chore with this remittance service. For a very minimal transaction fee, you can easily send money to family, friends, and partners, anytime and anywhere—even to those who don’t have an account with the Bank. The funds you send may be withdrawn 24/7 at any PSBank or Metrobank ATM.

PSBank Time Deposit – Be more as you do more with your money. With PSBank’s Time Deposit offering, not only do you enjoy a low initial deposit amount, but you also gain profit in as fast as 30 days. Talk to PSBank and we’ll help you understand and manage your account as our firm commitment.

PSBank Auto Loan– Have you been eyeing a new car for your family or for yourself? PSBank has got you completely covered. Offering competitive interest rates and a fast approval time, the Bank will surely make possible the deal you’ve been craving for. Enjoy the bank’s Prime Rebate feature when you avail its Auto Loan which lets you earn discounts on your loan when you make advance or excess payments on your monthly due.

PSBank Home Loan – Experience the family lifestyle you’ve been working so hard for this coming year through PSBank’s Home Loan. Enjoy loan approval in as fast as 24 hours, with convenient terms, and even better rewards. Benefit from Bank’s Prime Rebate feature—making the process of purchasing your new house even more fulfilling.

PSBank Personal Loan – This 2020, have the funds that will enable you to realize your travel and other life goals. PSBank’s Flexi Personal Loan, which also comes with Prime Rebate, is a collateral-free personal loan product with a revolving credit line and a fixed-term loan. The product comes with an ATM card, allowing you access to day and night banking from PSBank ATMs nationwide.

PSBank Money Market Fund – Create new possibilities in the coming decade: instead of being just a depositor, be an investor! With PSBank’s Money Market Fund, the Bank’s first Unit Investment Trust Fund (UITF), you can have a team of experts closely manage your investment for a minimum of PhP 10K. These partners will choose from different low-risk financial instruments to optimize your returns, giving you an affordable liquid investment option. Now is the time to invest in your future!

PSBank’s Senior Vice President and Marketing Group Head Emannuel A. Tuazon says:

“Celebrate new beginnings this year with the Bank that journeys with you everyday, a trusted and reliable group that puts your best interests at the heart of everything it does. With PSBank’s full suite of future-ready offerings, you can now confidently seize opportunities and make this new year, this new decade, a time of turning your big dreams into reality. We invite you to check out our products and services today!”

About PSBank

Philippine Savings Bank (PSBank) is an industry trailblazer in innovative and future-ready banking, and is the country's consumer and retail bank of choice for almost 60 years. Its primary objective of delivering quality customer service, simplified processes, quick credit decisions, and consumer-focused products are underscored by a clear promise: Simple Lang, Maaasahan.

It is the retail banking arm and a subsidiary of the Metropolitan Bank and Trust Company. To date, PSBank's nationwide network has already reached 250 branches and over 559 in-branch and offsite ATMs - ready to serve its ever-growing client base.

This 2020, Save Up to Level Up with PSBank

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Each new year comes with the promise of a better future for many individuals and families. To most, it is the opportune time to achieve new goals, to upgrade standards of living, and to seize new, exciting opportunities.

PSBank, everyone’s “simpleng maaasahan” bank recognizes the importance of this period, marked by resolutions and commitments—and invites all to make a firm, positive decision to progress in the attainment of their aspirations, through the act of purposefully saving moneyThe Bank believes that this allows one to level up, to grab what the new year and the new decade has to offer to those who actively prepare for it.

Look through these exciting ways on how you can grow your funds surely and securely this 2020 through PSBank’s Savings Account offerings:

PSBank ATM Savings – Commit to have an Average Daily Balance of PhP5,000, and have the benefit of earning a fixed interest rate as you further save. Access your account securely any time of the day via PSBank, Metrobank, and BancNet ATMs nationwide, as well as Mastercard ATMs worldwide. You can also avail hassle-free settlements of your utility and credit card bills, and experience the convenience of cashless shopping through BancNet’s electronic payment facility.

PSBank Regular Passbook Savings – Whether you’re saving up for an investment, a special life event, or an emergency fund, you can be assured that PSBank will make it easy for you. Having a Regular Passbook Savings Account gives you the benefit of also earning a fixed interest rate, and provides you a convenient way to monitor all your transactions.

PSBank Passbook with ATM – Maintaining a Passbook with ATM account with PSBank offers more than convenience and fixed interest rates. It also comes with a PSBank Debit Mastercard that allows you to safely access your funds, whether you are in the country or abroad.

PSBank Kiddie and Teen Savers – For those with children, starting kids early on the habit of saving will impart a discipline that will carry them throughout life. PSBank’s Kiddie and Teen Savers accounts are accompanied by free personal accident insurance from the Charter Ping An Insurance Corporation, allowing your child or teen the possibility of getting coverage equivalent to five times the value of the Average Daily Balance. These accounts may be opened as In-Trust-For (ITF) accounts, as joint accounts, or as individual accounts for each of your children.

PSBank Personal Checking Account – Possess check-writing flexibility for worry-free payments of your bills and other financial transactions whenever you need it. Open this account at any of the Bank’s branches and enroll in PSBank Mobile and PSBank Online to experience delightful banking moments.

PSBank’s Senior Vice President and Marketing Group Head Emmanuel Tuazon says, “As we enter this new year, we want to give our customers the ability and resources to become their best selves, through disciplined saving. We are confident that our suite of diverse Savings Accounts will allow them to do just that, and more—by instilling in them the importance of being prepared, and of having the mindset of constant improvement. We invite everyone to check out all of our products and services today.”