CIMB Bank & GCash Celebrates #GSaveMilestones

I witnessed an extravagant way to welcome a new client. Last Tuesday, CIMB Bank Philippines reached a milestone in partnering with GCash, as it garnered 500,000 customers approximately six months after opening its doors for business in the country.

The lucky 500,000th CIMB Bank PH customer named Sigfried Barcelona received P500,000.

How did Mr. Barcelona win? Simple! He opened a CIMB savings account through the Save Money feature on the GCash App and he’s the 500,000th registered client. Truly a lucky guy to receive such benefit form CIMB Bank PH and GCash.

Mr. Sigfried Barcelona with CIMB Bank PH and GCash officiala

Reasons why it is good to put your money in GSave.

  • GSave offers 3% interest per annum, higher than  the interest rates by most Philippine banks
  • GSave does not require an initial deposit or maintaining balance
  • GSave does not impose service charges for transactions
  • GSave is highly accessible as you can save in a click using your movile phone and GCash app.

Launched in early 2019, the all-digital, mobile-first CIMB Bank PH, has a goal of bringing a unique and differentiated banking proposition to Filipinos. Anchored on a DNA of strong strategic partnerships and solving customer pain points digitally, CIMB Bank PH had forged a partnership with GCash, to allow GCash’s customers direct, paperless and seamless access to savings account services, a product termed GSave. GCash is an epayments platform owned by Mynt, the revolutionary fintech startup of Globe Telecom, Ayala Corporation and Ant Financial, an affiliate of Jack Ma’s Alibaba.

In line with this, CIMB Bank PH and GCash also announced that the GSave bank account will be exclusively offered only on the GCash platform. The companies also said they will be working together to make added suites of financial services products available to GCash customers in the future. These services will be announced in due course.

Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group, who was in Manila to celebrate this milestone said, “The partnership with GCash was central to us achieving this milestone. It is a live case study of bank-tech partnerships, a combination of banking expertise and technology platform plays, and the opportunities it allows both parties to access. I look forward to developing more propositions with GCash to further establish our mobile banking presence in the Philippines.”

Anthony Thomas, President and Chief Executive Officer of GCash affirmed its shared mission with CIMB Bank to increase accessibility of financial products and services for all Filipinos. “The acquisition of 500,000 users is a clear testament that the partnership between GCash and CIMB Bank through GSave is a success. We welcome this achievement and the deepening of our collaboration with CIMB Bank, and assure our users that we will continue to provide more innovative services to address the banking and financial needs of Filipinos who aspire for financially better lives for their families.”