During my Japan trip in 2019, ATMs inside convenience stores used to be my life-saver as I ran out of cash while exploring the city. Every single store has one (or two)! Since that day, I’ve been wondering why our convenience stores in the Philippines don’t have such necessity which can definitely make anyone’s life more… convenient. Little did I know that it was already in the works and we’re set to see them up-close this year (or at least its first batch).
ATM transactions will be possible in 320 7-Eleven stores in Metro Manila and Cavite starting this March as the Philippine Seven Corporation (PSC), in partnership with Pito AxM Platform, Inc. (PAPI), a Philippine subsidiary bank of Seven Bank, Ltd. of Japan (Seven Bank), rolls out their cash-recycling ATMs. These cash-recycling ATMs are capable of withdrawing or depositing cash in real-time with any of its partner banks. Customers can now withdraw cash while the deposit functionality of the ATMs will be activated in the near future. The ATMs also have a unique feature of adapting the customer interface screen to that of the partner bank and thus providing a familiar, easy-to-use interface for users.
As of this posting, BDO Unibank account holders can withdraw cash and perform balance inquiries free of charge from the ATMs in 7-Eleven stores. Other bank account holders, through BANCNET, can also do withdrawal and balance inquiry transactions subject to ATM fees charged by their banks. PAPI plans to expand the number of partner banks in the near future to allow more convenient and cost-efficient banking services to more customers.
Although there are only 30 stores within NCR that has ATMs as of this week, PAPI and PSC aim to install more to reach at least 320 by the end of the first half of 2021, and then gradually increasing until majority of 7-Eleven stores have this in the future.
Want to see if a 7-Eleven near you has one? Visit this link for the complete list. Of course, don’t forget to follow safety protocols when going out! Wear your face mask and face shield, observe social distancing, and always disinfect when touching something. 🙂