Written by e-peso
September 30th, 2015
With over 10 million overseas Filipinos sending money to their loved ones back home, it is clear that remittances are a crucial component of the Philippine economy. Thus, in tune with its enduring commitment to provide better ways for Filipinos to send and receive money, E-Peso introduces a new feature that will allow cardless ATM withdrawals nationwide. In partnership with Security Bank, this feature allows members to send money instantly and receive money at over 450 Security Bank ATMs.
The eGiveCash or eGC program makes use of a single-use, non-reloadable virtual gift card that allows clients to send money to someone without a bank account or physical card, thereby eliminating barriers and offering a more efficient and cheaper money remittance process. Once logged into the E-Peso dashboard, the user simply chooses to transfer money via the eGC option, accomplishes the required details, and sends the eGC passcode to the recipient. The beneficiary then performs cash-out from a Security Bank ATM using the 16-digit eGC passcode, eGC number, and amount received via SMS.
“Beneficiaries are given three tries to key in the correct data before cash is locked…The eGC expires and is automatically cancelled if it remains outstanding after a period of 14 days from date of creation/purchase.”
For a clearer picture on how this feature works, refer to below illustrations showing how an E-Peso member can send funds using the platform and how the recipient can easily receive it through any Security Bank ATM even without a card.
How to send money using E-Peso via eGC:
How to receive money via cardless ATM withdrawal:
For assistance, you may reach our support team at email@example.com