Cebuana Lhuillier Launched Micro Savings

One of the country's leading microfinancial services company. Cebuana Lhuillier recently unveiled their newest product called Cebuana Lhuillier Micro Savings, which will provide Filipinos to a more convenient and affordable means to save their money. This product line with Cebuana Lhuillier's mission of financialinclusion, which has been the thrust of the company for the past 40 years.

Cebuana Lhuillier Rural Bank (CLRB) as the acting cash agent, helps Filipinos to overcome the barrier in saving through its platform micro savings. According to the Bangko Sentral ng Pilipinas (BSP) Filipinos like to save and we opt to keep their money at home.

Why? Because of the lukewarm attitude of the many towards opening a savings account in banks. One of the reason is the lack of access to banks among the country's manycitiesand municipalities remains as the top deterrent based on BSP studies. In fact, only 33% or 551 cities in the Philippines have access to banking institutions. While the numerous documentary requirements is a major turn off for many and along with thehigh cost of initial deposit, maintaining balance and dormacy charges. To break these barriers, Cebuana Lhuillier enables to every Filipino the Cebuana Lhuillier Micro Savings.


What are the requirements to open the Cebuana Lhuillier Micro Savings Account?

One (1) valid ID, a photo bearing government issued ID
Php50 initial deposit

The minimum cash deposit is Php50 while the maximum is Php50,000. For the withdrawal, the minimum is Php100 and the maximum amount is Php5,000. You can only have 3 sucessful transactiobs per card per day are allowedand there is no required maintaining balance for this account. Cebuana Lhuillier has a wide network of branches comprised of 2,500 retail infrastructures.Account holders can deposit and withdraw anywhere at their most convenient hours.



To ensure that the account holders of micro savings can fully macimize the use of their savings account and greater connectivity, Crbuana Lhuillier will also be launcing its very own eCebuana app which allows micro savings users to check their balance anf send money through remitttance, as well as loading prepaid creadits to their phones and pay their bills by integrating it on their Cebuana Lhuiller Micro Savings Account.

Their app is just the first step. Second is the migration to EMV-enabled card which can be accessed through ATMs that will carry the debit and credit facility for online and cashless shopping. So thatit can provide access to auxiliary services and help corporate and MSME (micro, small, and medium enterprises) clients to manage their businessthrough payroll cash management solutions.

Furthermore, it will progress to provide more value with features like remit-to-and-from savings account, pay and deposit from savings account, and an international remit-to-account feature which will provide convenience to Filipinos abroad in sending money to their families in the Philippines. The innovation will also allow clients to have safe and convenient access to their accounts in all Cebuana Lhuillier branches, Cebuana CARES, agent partners, and all online and mobile channels, as well as access to all CLRB branches thatvare set to establish the preaence nationwide and not only that because a self-service kiosks in Cebuana Lhuillier branches will also be put in place.

All this efforts to make saving accessible to every Filupino are part of Cebuana Lhuilliet President abd CEO Jean Henri Lhuillier's vision on financial wellness. Crbuana Lhuillier's goal is  not judt to provide quick cash to the underbank and unbanked for their short term financial needs but to become an enabler for the better future.

Aside from the launch of Cebuana Lhuiller Micro Savings it coincides the launch of #KayaNa, that unbanked Filipinos No More Movent which aims to transform thhe landscape of savings in the Philippines. With the support of BSP's call for greater financial inclusion among Filipinis, Cebuana Lhuillier aims to reach more underserved Filipinos and empower them to save for the future through its micro savings products.

To learn more about this, you may contact Cebuana CARES team at cebuanacares@pjlhuillier.com or you may visit their FB page at facebook.com/CebuanaLhuillierPawnshop. You may also send them and SMS to the following numbers:

(Globe and Viber) - 0917 8122737
(Smart) - 0918 8122737

Or you may call their hotlines at (02) 779 - 9800 and (02) 759 - 9800.

ipon na, Ka-Cebuana!

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