With our country’s quarantine safety guidelines, it has become even more vital for financial services to be closer to home and accessible to more people. Now, with Robinsons Bank’s newly launched partnership with Premiumbikes, account holders can get their banking done even if they live in an area without a Robinsons Bank branch or ATM. Premiumbikes, a nationwide motorcycle dealership chain, has over 200 stores, many in rural communities with limited access to financial institutions. RBankMo agency banking is currently available at over 50 branches, including cities in provinces such as Palawan, Bataan, Bulacan, Cavite, and Pampanga. A full rollout is expected in the coming months.
The agency banking or “branchless banking” model uses alternative channels to provide essential financial services. Safe, convenient, and easy to scale, it’s a growing global banking model in countries where financial institutions recognize, respond to, and value the needs of the rural population. Through agency banking, customers can withdraw using any BancNet ATM card, deposit money into a Robinsons Bank savings account, and even pay their bills at a convenient location, provided by Premiumbikes' wide network of stores. "Partnering with Premiumbikes, our sister company under the Gokongwei Group, has allowed us to take advantage of its strategic branch locations,” says Robinsons Bank president Boyie Sarte. “It gives us the opportunity to further widen our geographic footprint and serve more Filipinos across the nation.”
Although RBankMo started its pilot run in late-2019 and officially launched on March 15, 2021, Premiumbikes agents have already noticed the positive impact on their local community. "Laging sinasabi ng clients namin na less hassle at mas convenient na ang pagwi-withdraw o pagbabayad sa loan dahil sa RBankMo. Hindi na nila kailangang pumunta sa convenience stores o payment centers” [Our clients always say withdrawing money and paying loans are less of a hassle and more convenient because of RBankMo. They no longer need to go to convenience stores or payment centers], says Paula Sheila Esguerra, branch manager of Premiumbikes’ Malanday branch. “Ang pinakamalapit na branch pa sa amin ay sa Malinta, at traffic pa papunta doon kaya talagang mas nakatulong ang services ng RBankMo” [The branch nearest us is in Malinta, and there’s a lot of traffic going there, so the RBankMo services have really helped]. She adds, “Marami ring taga-ibang bangko na nagwiwithdraw sa RBankMo dahil madalas offline ang ATM sa area” [Even those with accounts from other banks withdraw from RBankMo because the ATMs in the area are often offline].
For some, their neighborhood Premiumbikes store may even be their first “bank.”
A customer transacts with a designated RBankMo agent, safely and conveniently.
Robinsons Bank takes pride in its continuing mission of financial inclusion, which seeks to address the barriers that have contributed to the Philippine’s large unbanked population. Through Premiumbikes, those without bank accounts who live in more remote areas can take the first step towards a stronger financial future by opening a Robinsons Bank account with just one valid ID. They can then continue to avail themselves of the RBankMo service in their neighborhood. Says Sarte, “Right now, we are seeing a growing number of customers who are opening a bank account with us and using our services such as the withdrawal and bills payment transactions. It is our bank’s testament of service to the changing needs of our customers. RBankMo has truly brought banking closer to the homes of many Filipinos."
