Robinsons Bank joins six (6) other financial service providers (FSPs) in enabling cash assistance to reach Filipino families in a more efficient and expedient manner as the second tranche of the Social Amelioration Program (SAP) subsidy is targeted to cater to approximately 12 million Filipino families.
With its nationwide presence and experience in the commercial roll-out Robinsons Bank, together with other FSPs was deemed compliant to partner with the Department of Social Welfare and Development (DSWD) for the electronic disbursement of the SAP subsidy through e-wallets and online banking.
According to DSWD Spokesperson Irene Dumlao, the electronic disbursement of the second tranche of the SAP subsidy is expected to start next week.
RBank is taking adequate steps to ensure cash availability throughout the SAP disbursement period.
Beneficiaries who will be claiming their cash subsidies through Robinsons Bank can do so through any RBank ATMs or over-the-counter transactions in any RBank branch or from its subsidiary, Legazpi Savings branch.
Designated tellers and ATMs are allocated for disbursement to avoid disruption of regular banking services. Longer queues and waiting times are expected during the payout period.
The Bank will be catering to unbanked beneficiaries with almost 53% of them coming from the National Capital Region (NCR), and at least 41% of the beneficiaries coming from the Albay province.
The shift to a digitized disbursement of the SAP subsidy aims to speed up the distribution to the beneficiaries. Additionally, the digitized payout is expected to better comply with health protocols to ensure the safety of Filipinos who will be receiving the payout.
Together with Robinsons Bank, government-owned Land Bank of the Philippines, GCash, RCBC, PayMaya, Starpay, and Unionbank are the other FSPs that partnered with DSWD for the distribution of the second tranche.
Recognized as the Fastest Growing Commercial Bank in the Philippines for 2020, Robinsons Bank is the financial services arm of the JG Summit Group of Companies, one of the largest conglomerates in the Philippines. It currently ranks 18th among universal and commercial banks in the country, with assets amounting to Php 131.088 Bn as of December 2019.