FREQUENTLY ASKED QUESTIONS
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Q: What is PSBank Money Card?

A: PSBank Money Card is the first and only revolving personal loan
facility that gives you access to cash day or night via ATM.

Q: What collateral will the bank be asking from me to
avail of the facility?

A: No collateral is required from you when applying for a PSBank Money
Card.

Q: How much can I borrow?

A: The minimum credit line that we give is PhP20,000 and can go up to a
maximum of PhP250,000.

Q: How do I use
my Money Card?

A: To access the credit line, you may:

  1. Withdraw cash in any PSBank, Metrobank and BancNet ATMs nationwide
  2. Use it as a debit card to enjoy cashless shopping in any BancNet affiliated merchants
  3. Issue a Money Card check (available only for clients with a minimum credit limit of PhP50,000)

Q: Why is Money
Card better than a credit card?

A: PSBank Money Card is better than a credit card because:

  • It has a lower interest rate of 2.5% compared to credit card’s 3.5%. Plus, credit cards charge an  additional 5% for cash advances.
  • PSBank Money Card allows you to have the cash you need whenever you need it. And having cash allows you to:
  • Make purchases in almost all types of establishments including wet markets, tiangge, transportation terminals, machine shops, etc.
  • Enjoy the cash price of an item being bought whereas using a credit card will have a different selling price.
  • Have the full discounted price.
  • It is highly accessible from any ATM nationwide (even worldwide because of Maestro Cirrus) or BancNet affiliated merchants.
  • You can withdraw any time of day or night, any day of the week.

Q: Why is Money Card better than a personal term loan?

A: PSBank Money Card is better than a personal term loan because:

  • Interest is applied on the daily outstanding balance and not on the full credit line amount. This means that if you don’t withdraw cash, no interest will be charged. Unlike with a term loan where interest is applied to the full loan amount whether you use it or not.
  • Money Card gives you the security of having anytime anywhere access to cash especially during financial emergencies
  • You have the option to choose the amount you want to pay on your due date - either the minimum amount due or a higher amount depending on your current financial capacity
  • Any payment made can be used again for future needs. No need to re-apply or wait for you to fully pay the loan before you can get additional cash.

Q: Am I eligible to apply?

A: You are qualified for a Money Card, if you are:

  1. At least 22 years old but not to exceed 54 years old
  2. A Filipino with billing address within the Philippines
  3. Employed with at least PhP10,000 gross monthly income or self-employed with an average monthly gross income of PhP30,000
  4. At least one year permanent work status with current employer or operating a profitable business in the last two years
  5. A credit card holder
  6. Able to provide an office landline and a residential or mobile number

Q: How long can
I use my Money Card?

A: You may use your Money Card for one year. If you maintained a good credit standing at the time of line renewal, we automatically renew your line so you wouldn’t have to re-apply. The corresponding handling fee will just be reflected in your next statement of account.

Q: How do I apply?

A: Applying is simple and easy. First, fill out a Money Card application form. For your convenience, click on the APPLY NOW! Link above. Secondly, prepare the following documents:

  1. If employed:
    • Photocopy of ITR or BIR Form 2316
    • Photocopy of company ID bearing photo, signature and home address
    • Photocopy of any of the following ID: SSS, GSIS, PRC, Driver’s License, Passport or Tax Identification ID (card type)
  2. If self-employed:
  • Photocopy of latest BIR form 1701 or 2317 with attached Financial Statement
  • Photocopy of any two (2) of the following IDs: SSS, GSIS, PRC, Driver’s
  • License, Passport or Tax Identification ID (card type)
  • Photocopy of credit card
  • Original copy of the latest credit card billing statement
  • Auditor’s Report and Financial Statements with BIR Stamp.
  • Photocopy of other bank account indicating account name, account number and bank name

Then lastly, submit the application form together with the documents at via the online form or as attachment to jalexanderdh@gmail.com.

Q: Is there a fee that I need to pay when applying for a Money Card?

A: You don’t need to pay for anything during application. The handling fee of PhP1,500 or 1% of the approved credit line, whichever is higher, will only be collected once the loan is approved. And even then, there will be no immediate cash-out on your part because the handling fee will be equally divided in three monthly installments, which will be reflected in your statement of account.

Q: What other fees are collected?

A: When you use your Money Card to withdraw cash from the ATM, a PhP10.00 service fee will be charged per availment via ATM. An additional transaction fee will be charged depending on the network used. For BancNet and Megalink ATMs, the transaction fee is PhP20.00, while Cirrus ATMs charges $1.00 per inquiry and $3.50 per withdrawal. These fees will not be deducted from your ATM withdrawal, but will be reflected on your Statement of Account.

Q: How long does it take to have a decision on my loan application?

A: Normally, it takes 3 days from the time of application encoding unless our credit verifiers require other information.

Q: How will I know if my application is approved?

A: Upon reaching a credit decision, the system will automatically send you an SMS regarding the status of your loan application. So make sure that you indicate your mobile number in your application form.

Q: How will I receive my Money Card?

A: The Money Card will be delivered to your workplace via courier within 5 working days after loan approval. For your protection, we commission a separate courier service to deliver your PIN mailer 1 day in advance. If you live and work outside Metro Manila, you may claim your Money Card and PINMailer in your preferred PSBank branch which you need to specify during your application.

Q: How can I pay my Money Card dues?

A: You may choose to settle your Money Card obligations via:

•We encourage you to open an account and enroll in PSBank Remote Banking to pay online
•Automatic Debit Arrangement (ADA)
•Payment via PSBank, Metrobank and other BancNet-member ATMs
•Over-the-counter transactions (OTC) at any PSBank Branch

Q: Who can I call if I encountered concerns and problems with my Money Card?

A: You may call our Customer Sales Department 885-8208 loc 8764 to 8777

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