BDO Unibank Inc.’s Cash Agad provides opportunities to micro, small and medium enterprises to grow and strengthen their earnings.
Cash Agad, a financial solution where BDO teams up with businesses such as sari-sari and general merchandise stores, offer cash withdrawal services in remote areas which lack the presence of bank branches.
BDO calls it the “automated tao machine” because instead of using electronic ATMs for withdrawals, partner-agents provide the cash needed by customers.
The bank said with the help of Cash Agad, income of MSMEs are expected to further increase because of additional loyal customers due to added services.
“With its fast and convenient way to withdraw salaries, remittances or pensions of BDO account holders, community members would prefer to withdraw cash from a store with Cash Agad service. Oftentimes, customers also purchase their daily needs from the same store,” it said.
BDO said this also generates additional earnings from service fees. For every withdrawal transaction of a customer, the Cash Agad partner-agent receives a service fee. The accumulated fees contribute to the overall monthly earnings.
“In addition, the amount withdrawn by a customer, including their share of the service fee, is automatically deposited into the enrolled BDO account of the Cash Agad partner-agent,” it said.