HSBC Philippines announced a series of relief measures to aid its retail and corporate banking customers through the challenging weeks ahead.
These measures, which support the recently released “Bayanihan to Heal as One” Act and the regulatory issuances implementing it, will allow customers to effectively manage their cash flow and transactions amidst the on-going enhanced community quarantine currently affecting Metro Manila and the rest of Luzon island.
“Our customers rely on us to ensure banking services continue, and at HSBC we are well prepared to meet their evolving needs during this challenging time,” says HSBC Philippines President and Chief Executive Officer Graham Fitz Gerald.
“We have served our customers in the Philippines for the past 145 years, and will continue to support them any way we can,” he continues.
All customers are encouraged to make use of HSBC’s internet and mobile banking platforms where possible, while majority of our Metro Manila Branches remain open on weekdays from 9am to 3pm.
A list of these branches can be found at the HSBC Philippines website at www.hsbc.com.ph.
For retail banking customers, a payment holiday — extending credit cards, loans and mortgages payment due dates by 30 days — with no late fees, is now in effect. Customers will also continue to enjoy fee-free transactions for real time money transfers to HSBC accounts and same-day local money transfers to other banks through mobile banking and the HSBC Mobile App, local ATM withdrawals. HSBC Premier customers can continue complimentary managing and transferring of funds across HSBC accounts world-wide.
In light of the global market volatility affecting investment holdings with HSBC Philippines, the bank is also waiving monthly below-balance fees for retail customers with investments or insurance throughout the quarantine period.
For Corporate Banking clients, PESONet fees will be waived for payments initiated through HSBCNet and HSBC Mobile platforms throughout the quarantine period.
This will help customers to make payments virtually and reduce their reliance on cash and cheques, particularly for vendor payments.
HSBC’s Trade Services Operations continue to support customers by actively reviewing the provision of new trade loans/financing and extension of tenors to ensure supply chains remain undisrupted. Trade transaction services remain operational during this time.
The application of other relief measures will be assessed and approved on a case-by-case basis. Relationship managers are also available to discuss and assess situations that customers may face and if further assistance can be extended.
“These are just some of the immediate relief measures that we are extending to our customers. On behalf of HSBC Philippines, I thank you for your trust. We are in this together and we are fully committed to supporting you during these challenging times,” FitzGerald said.
