Tuesday, October 4, 2022

BPI to level up Savings with #Coins Program

“People who immediately benefit from the high rates are usually those who are able tomaintain high balances and can afford to open another deposit account outside of theircurrent   banks. Beyond   the   introductory   rate,   unusually   high   interest   rates   are   notpermanent, nor sustainable. What makes this BPI product unique is instead of participating in accounts with highinterest rates that usually benefit the more affluent depositors, it provides an easier,more fun way of  saving through a gamified rewards program that can benefit morepeople from all walks of life.” ~Carmina Marquez, BPI Deposits Head

In the last two years, neobanks—or digital banks that don’t have physical branches—have been disrupting the market  by offering unprecedented high interest rates  for  abasic savings account.

This is  the reason the Bank of the Philippine Islands (BPI) is introducing honest-to-goodness   savings   products   that   are   not   only   easy-to-open   but   also   uniquely   and  sustainably   rewarding—the   #SaveUp   digital  deposit   accounts. #SaveUp   is   nonavailable   not   only   through   the   BPI   mobile   app   but   also   via   GCASH   app’s   GSAVE feature called BPI #MySaveUp.

These BPI products offer a convenient and trusted option for digital natives and banking  newbies, with low initial deposit, affordable maintaining balance, and more attractive  savings   rate   than   what   one   gets   from   typical   savings   accounts   opened   via   bank ranches.

Called   #Coins,   this   program   rewards   depositors   with   virtual   game   coins   as  they save. The #Coins can be used to win prizes such as cash vouchers and wallet credits, an automatic KIA Stonic Style Edition car, or an Avida Vireo Studio condominium unit.

“BPI  introduces another  first  with  our  #Coins rewards  program  for  #SaveUp depositors. We want to make saving more affordable, more convenient, more fun any more   rewarding. This is  our   way of making   saving   more  inclusive   and encouraging  those who have not yet tried banking to do so easily. This is also our way of giving our depositors a chance to own a brand-new SUV or a prime condominium unit as they  grow   their   savings—things   that   remain   aspirational   for   so   many   Filipinos.   Through #SaveUp made rewarding with #Coins, we hope to invite more Filipinos to banking and begin their journey towards achieving their dreams. Especially   during   this   time   of   high   inflation,   it   is   important   to   sustain   the   growthmomentum of the deposit and savings segments. BPI will continue to do its part andlaunch new innovative products and programs with convenient digital options, as well aseasy access, and a more rewarding experience. A more financially inclusive economy ishow we, in BPI, can help build a better Philippines.~Ginbee Go, BPI Consumer Banking Head

The #Coins Program rewards clients with one coin per month if their BPI #SaveUp or #MySaveUp account has at least P3,000 worth of transactions each month that include branch and digital deposits, remittance, funds transfers, and similar services. Depositors may also earn extra coin for every P10,000 saved in their BPI #SaveUp or #MySaveUp account by end of the month.
Game perks Through the #COINS Program, BPI rewards its depositors with virtual game coins everytime they save, which they can use to win prizes such as electronic gift certificates. Every month, there are 5,000 eGCs worth P100 available for clients, 500 winners ofP500 eGC, and 100 winners of P1,000 eGC; add to that two major prizes: an automatic KIA Stonic Style Edition car and an Avida Vireo Studio condominium unit in Arca South.

Depositors will   be   able   to   enjoy   these   game   perks   in   the   #Coins   microsite, which features a Winners Gallery that display the users who already won a prize. It also show show many total #Coins are at play, and how many available eGC prizes there are tohelp users strategize and control their game luck.

The Bangko Sentral ng Pilipinas (BSP) recently reported that “savings deposits had the  biggest share of total deposits at 48.7 percent.” This is as the Philippine banking system(PBS) sustained its solid footing amid the pandemic, according to the “Recent Trends inthe Philippine Financial System” report released by BSP in January 2022.

To   earn   #Coins   while   saving,  interested   depositors   may   open   a  #SaveUp   by  downloading the  BPI   mobile   app,   or  open   a   #MySaveUp   account from   the   GSAVE menu of the GCASH app.

The 171-year-old  Bank of  the   Philippine Islands  is the  first   bank in   the  Philippines and  Southeast Asia.  We arelicensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services:deposit   taking   and   cash   management,   payments,   lending   and   leasing,   asset   management,   bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial  strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by stringent compliance and riskmanagement regimes. E-mail: Media: mjsilvestre@bpi.com.ph Investors:  Investor relations@bpi.com.ph. Bank of the Philippine Island l Ayala North Exchange Tower 1, Ayala Avenue corner Salcedo St., Legaspi Village, Makati City 1229 PH l +632 8246 6364 l www.bpi.com.ph.

No comments:

Post a Comment