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Public assured of adequate cash in Odette-hit areas

Lawrence Agcaoili - The Philippine Star
Public assured of adequate cash in Odette-hit areas
This aerial handout photo taken on December 17, 2021 and received from the Philippine Army on December 18 shows destroyed houses caused by Super Typhoon Rai after the storm crossed over General Luna, Siargao Island.
Handout / Philippine Army / AFP

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has ordered banks to carry out measures to ensure the availability of cash in their ATMs and to service the public’s withdrawal needs in areas ravaged by Super Typhoon Odette.

The BSP is committed to meeting currency demands in typhoon-struck provinces to support the immediate recovery of affected areas in Visayas and Mindanao.

“Amid electricity and internet connection outages, BSP offices and branches continue to fully service the currency requirements of banks in the Visayas and Mindanao,” the central bank said in a statement.

According to the BSP, it continues to provide full tellering services and stands ready to assist banks in their currency needs.

BDO Unibank said its branches in areas severely affected by the typhoon remain open on shortened banking hours.

“While cash will be replenished on a regular basis, the availability of our ATMs will be based on a stable power supply and telecommunications connectivity,” BDO said.

Likewise, the country’s largest lender, through BDO Foundation, is providing aid for communities devastated by Odette in line with its disaster response advocacy.

“The corporate social responsibility arm of BDO Unibank is coordinating with dioceses and parishes in disaster-affected areas for the distribution of relief goods containing food, rice and drinking water,” it added.

BDO Foundation is organizing relief operations, mobilizing volunteers to extend immediate assistance to families in typhoon-stricken provinces in Visayas and Mindanao.

The ongoing corporate citizenship initiative is made possible with the support of BDO and BDO Network Bank branches.

Meanwhile,  Rizal Commercial Banking Corp. (RCBC) has offered payment holiday option to auto, home as well as personal and salary loan clients affected by the typhoon.

In an advisory, RCBC said those who are unable to make payment on their due dates from Dec. 18, 2021 to Jan. 17, 2022 in areas affected by Typhoon Odette could settle their dues 30 days after.

The bank said loan maturity would be extended by 30 days.

“RCBC extends our hearts and prayers to our countrymen whose lives have been devastated by Typhoon Odette. RCBC is with you through these extraordinary times,” the bank said.

RCBC said there would be no interest on interest, penalties or other charges, but accrued interest on the outstanding principal loan remains in effect.

In the aftermath of the typhoon, Philippine National Bank (PNB) in an advisory said selected branches in Visayas and Mindanao including MC Briones, Lapu-Lapu Market, and MEPZ in Cebu as well as Bais City in Negros Orienal and Dapa in Siargao Island are temporarily closed as of Dec. 23.

“While we continue to serve clients through our ATMs, cash accept machines, and PNB digital app, please note that availability of these channels might be affected by the power supply and internet connection in the affected areas,” PNB said.

BSP

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