PhilPass Fund Transfers Remain Free Until 2021
The Bangko Sentral ng Pilipinas (BSP) has further extended the suspension of fees for every fund transfer transaction made through the Philipine Payment and Settlement …
BSP
BSP to Publicly Disclose Erring Banks and Financial Institutions
To promote transparency and market discipline and deter banks from misbehaving and protect the public interest, the Bangko Sentral ng Pilipinas is planning to make …
BSP Launches Enhanced PH Banknotes
The Bangko Sentral ng Pilipinas has recently launched a set of enhanced banknotes under the New Generation Currency (NGC) series, with an improved design and …
Free Fund Transfer, Extended Until September
While the country continuously battles the pandemic, several banks have agreed to extend the waiver on fund transfer fees in a bid to help the …
BSP to Release Implementing Guidelines for National Payment Systems
Recognizing the important role of payment systems in a stable financial system and in realizing monetary policy objectives, the Bangko Sentral ng Pilipinas (BSP) will …
Dollar Remittances Reach $2.75B in January 2019
The Bangko Sentral ng Pilipinas (BSP) records a slight increase in the amount of dollar remittances from Filipinos abroad in January 2019, as compared to …
More e-Payment Services in the PH After BSP Streamlines Licensing Policies
Aiming to promote digital innovations and to increase the availability of safer and more efficient channels for delivering banking, payment, remittance, investment, and other financial …
OFW Remittances Hit Record-High at $2.8B
December 2018 saw a surge in the cash remittance from overseas Filipino workers (OFW). As such, the country hit a full-year growth outpacing Bangko Sentral …
Philippines, Slightly Less ‘Unbanked’ as More Filipinos Now Have Deposit Accounts
More Filipinos are now part of the country’s formal financial system as more citizens get to open their own bank accounts. Bangko Sentral ng Pilipinas …
BSP’s Basic Account Framework Allows Clients To Open Bank Accounts With Less Than P100
In the Philippines, 70% of the people who are of age do not have a bank account. Majority of people, even if they do have …
BSP To Approve Accredited Companies To Operate Virtual Currency Exchanges
In response to the growing number of Bitcoin investors after it rose to an all-time high this year, the Bank Sentral ng Pilipinas (BSP) is …
Newly Enhanced Banknotes Circulated By BSP
Last week, the central bank released a newly designed P5 coin that was circulated last December 1 to commemorate the 154th anniversary of Andres Bonifacio. …
Metrobank Receives Sanctions From BSP Over P1.75-B Internal Fraud
In July, the second largest bank in the Philippines, Metrobank, reported a massive internal fraud that caused the bank P1.75 billion. Metrobank filed charges against …
BSP Releases New 100 Banknotes
Several months ago, Senator Aquilino “Koko” Pimentel urged the Bangko Sentral ng Pilipinas to explain why the 1000 and 100 peso bills looked so much …
BSP Sets New Regulations on Marketing of Financial Products
Due to the complexity of financial products being offered in the market, BSP has issued new rules for its supervised financial institutions to prevent clients …