Land Bank cardholders can now withdraw free of charge
In partnership with Seven Bank, PSC aims to have 150 ATMs in its Cebu stores by June.
7-Eleven continues to make safe and convenient banking accessible to more Filipinos as it expands its ATM services across the country, marking the activation of the 1,500th cash-recycling ATM in Casa Mira, Cebu City. This was made possible with its partnership with Pito AxM Platform, Inc. (PAPI), the local subsidiary of Seven Bank, Ltd. of Japan.
Philippine Seven Corporation (PSC), the exclusive licensor of 7-Eleven in the Philippines and PAPI, plan to have 150 cash machines operational in Cebu by the end of June.
“We have aggressively expanded the 7-Bank ATM network in Metro Manila and Luzon during the pandemic. This 2022, we reach another milestone as we set foot in Cebu, signaling our further expansion of ATMs in Visayas and Mindanao,” said Jose Victor Paterno, President and CEO of PSC.
PSC and PAPI plan to deploy 1,500 additional cash machines by the end of 2022, aiming to cover the majority of over 3,100 7-Eleven stores nationwide.
Masanori Sakaguchi, President of PAPI, stated “We are very happy to serve our precious customers in Visayas, and the ones in Mindanao very soon. We hope everybody appreciates our sophisticated ATM services imported from Japan.”
PAPI also introduces Land Bank of the Philippines as its newest partner bank. Land Bank customers can now enjoy free transactions on ATMs at 7-Eleven stores beginning May 23.
Besides Land Bank, PAPI has a partnership with BDO, the largest bank in the Philippines, to accommodate free cash withdrawals by its cardholders. Meanwhile, other bank account holders may transact through BancNet, with a Php 10 transaction fee. More partner banks will be announced soon.
ATMs at 7-Eleven stores are cash-recycling machines. The ATMs also have a unique feature of delivering the ATM interface depending on the customer’s bank, providing familiarity and ease of use.
Lawrence De Leon, Head of Finance at PSC, said the ATMs provide an innovative solution to the cash handling requirements of 7-Eleven stores nationwide. “The sales are deposited by our store operators and the ATMs “recycle” the cash to fund withdrawals of the customers of the different banks. This creates a lot of value to our customers because of the convenience of having ATMs available 24/7 in a safe and secured location. The ATMs also provide flexibility in cash management since deposits are immediately credited to PSC’s corporate bank account,” De Leon added.
PSC partnered with PAPI in February 2020 to equip all 7-Eleven stores with cash-recycling ATMs.
For more information on where to find the ATMs, please visit https://www.7-eleven.com.ph/whatsnew/atms-in-7eleven-list-of-stores/.