PSBank’s New Pa-Send Service

These days, banking convenience should be a service that everyone enjoys. Gone are the days where you have to go physically to a bank just to do a simple transaction, it must be accessible wherever and whenever you need it. This is where Philippine Savings Bank (PSBank) makes it easy.

The thrift banking arm of the Metrobank Group just recently launched their “PaSend” service. It allows you PSBank depositors to send instant cash online 24 hours a day, 7 days a week. Now you can simply choose to send money your relatives, friends and business transactions via the PSBank Mobile App. Recipients can simply withdraw the amount from any PSBank or Metrobank ATM.

Albeit not completely free, the service is at a very minimal cost versus other domestic remittance platforms in the country. The catch is, they do not even require the recipient to have an existing account via PSBank. A perfect way to move the economy without alienating those who do not have bank accounts with them or elsewhere.

You may download the PSBank Mobile App on the App Store of Google Play. If you’re already registered to the service, simply click on the “Pa-Send” option, choose the account where your money is coming from, indicate the amount to be sent, nominate a pin for the specific Pa-Send request and the person’s Full Name and Phone Number. It will be validated by the bank and send a second pin for the recipient. You would then need to communicate the first pin so he could go to a PSBank or Metrobank ATM to get the cash via PaSend/Cardless Withdrawal option. If the amount is withdrawn, an automatic email/SMS will be sent to you to make sure they’ve got it already. These layers of security are so assuring!

Note: you can only send from Php 200 to Php 5,000 and only in a specific amount of time. PSBank’s Senior Vice President and Marketing Head Mr. Noel Tuazon says “There are about 77% of Filipinos who still do not have a bank account. The PaSend service hopes to address the growing need for low-cost cash remittance without the need for an existing deposit account. This is our way of making true to our brand promise of keeping things “simple and maaasahan”.

The PaSend service is just one of the various digital initiatives of PSBank. You should try it out for size and become a part of the digital economy. You can use it to gain a broad range of economic activities that use digitized information as key factors for production and finance, especially for the micro businesses in the country.