The Many Advantages of Using the New Save Money Feature of GCash and CIMB Bank

CIMB Bank Philippines today announced that it has now reached a total of 500,000 customers made possible in part through its strategic partnership with GCash through its Save Money Feature.

This is a feat indeed worth celebrating as it has only been a little over 6 months when CIMB opened its doors for business here in the country.

To celebrate this wonderful achievement, CIMB Bank awarded its 500,000th customer earlier at the Grand Hyatt Manila with 500,000 pesos on his GCash account. The event and awarding ceremony is led by CIMB Group CEO Tengku Dato Sri Zafrul Aziz and GCash President and CEO Anthony Thomas.

Zafrul said that doing business in the Philippines has completed their target in the region. CIMB Bank Philippines is now considered as the fastest growing bank in ASEAN.

CIMB Bank is also known to have the highest savings rate in the country today and this has been their value proposition ever since.

Thomas on the other hand said that their partnership with CIMB Bank will greatly help their aim of financial inclusion and in a way inspire Filipinos who uses GCash to go beyond consumption and move towards savings.

According to Thomas, only a third of the population owns a bank and those who have, do not really fully enjoy its services.

The main reason for this is that opening a bank account is not easy. Aside from the many requirements, you’ll also need to maintain a minimum balance.

With the GCash and CIMB Bank partnership through GSave or the Save Money feature of the mobile app, opening a savings account is now as easy as 1 – 2 – 3! Here are some of the many advantages of using the new Save Money feature of GCash and CIMB:

Little Requirements – all you need is just 1 ID, a mobile phone and the GCash App
No Minimum Deposit Required
No Maintaining Balance Required
No Service Charges on Transactions
A High Interest of 3% per Annum, 10x higher than other banks
All Deposits are Insured by the PDIC (Philippine Deposit Insurance Corporation)
You Can Monitor the Growth of Your Savings in Real-Time Through the GCash App
You Can View Your Transaction History at Any Time Through the App

This is probably the most seamless, convenient and rewarding banking facility in the country today. I am so glad that I’ve got a verified GCash account already now all I have to do is SAVE.