One Network Bank goes Saturday banking
by Prix D Banzon
Davao City (4 October) -- Banking in hinterland barangays of Mindanao is available even on Saturdays where heavy trading is typical on weekends and mitigate the risks of handling big amount and the possibility of losing it.
Branch operations group head of One Network Bank Bingo Masbad said Saturday banking is the solution they offer for the businessmen who deploy network sales agents around Mindanao.
He said that through the ONB, the agents can easily turnover their sales even on a Saturday by depositing the collections through PeraDala in any of it 63 branches.
"This mitigates the risks involved in handling cash and the possibility of losing money in the process," he said.
The ONB Saturday Banking is to serve businesses with operations extending on weekends.
He said they extend services to convenience stores and bakeries offering 24 hours service, food outlets, gasoline stations and all other enterprises that require a deposit facility for sales made during Saturdays.
He said it is also attractive to individuals who cannot bank on weekdays such as public school teachers, private employees, and workers who would want to pay their bills, withdraw payroll money, claim overseas remittances, process loan applications or open deposit accounts on a Saturday.
The presence of a local bank to support buy and sell activities comes in handy for transacting farmers, buyers and local businessmen.
In municipalities like Lupon and Banaybanay in Davao Oriental province and in Mlang and Makilala in North Cotabato province they regarded Saturday as market or palengke day.
ONB is the only bank to provice "full banking" services during Saturdays in all of its 63 branches all over Mindanao with regular banking hours from 8:30 am to 3:00 pm allowing clients to enjoy six banking days or 42 banking hours in a week.
With Saturday Banking, ONB is tapping a rather "underserved" segment of the banking market in Mindanao, considering that most commercial banks are closed on weekends. A few commercial banks also open on weekends but only in selected branches.
It has become a competitive edge for ONB with Saturday banking by serving a market niche that still favors the traditional and highly personalized face to face mode of banking.
ONB's 63 branches provide banking services to over 350,000 deposits and 72,000 borrowers all over Mindanao. (PIA XI) [top]