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Local banks shorten schedules

Banks in the city have shorted their hours of operations and moved the check clearing cut-off amid the COVID-19 pandemic.

Under the Board Resolution no. 2020-004, the Dabaw City Banker Association adjusted the banking hours to 9:00 am-2:00 pm effective last Tuesday until further notice.

Aside from that, the Philippine Clearing House Corporation also moved the clearing cut-off from 3:00 pm to 1:00 pm.

The banking association has also encouraged clients to use the digital channels of their respective banks such as ATM, online banking, and mobile transactions.

Bangko Sentral ng Pilipinas-Supervised Financial Institutions (BSFI) that would be incurring losses due to COVID-19 are also granted regulatory and rediscounting relief measures.

Some of the relief measures are loan grants, suspension of penalties, a grace period to settle their obligations, among others.

BSFIs may avail the regulatory relief measure by submitting a letter-notification stating its
intention to avail the said package and the specific relief measures to be availed and the
affected offices of the BSFI, signed by the BSFI’s President or officer of equivalent rank; and the
resolution of the Board of Directors authorizing the BSFI to avail of the regulatory relief package.

Once approved, the BSFIs are strongly encouraged to temporarily suspend all fees and charges
imposed on the use of online banking platforms or electronic money, including those imposed
on the use of Instapay or PesoNet electronic fund transfer.

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