China Banking Corp. said it enhanced its digital banking platforms with a new online account application feature, allowing new customers to open accounts without visiting a branch or submitting physical documents.
Filipinos aged 18 and above can now remotely set up a Chinabank ATM account or a Chinabank OKS Peso Savings account (for overseas Filipino workers or their beneficiaries) via the My CBC and My CBC Online platforms. No initial deposit is required, and only one valid ID is needed, with easy-to-follow on-screen prompts.
The bank said it conducts identity verification and document authentication in line with regulatory requirements, typically taking two banking days. Once approved, the new account is ready for digital transactions. Customers will need to fund their accounts to pay bills or transfer funds.
Jay Sabido, Chinabank’s innovation and transformation officer, said this upgrade aligns with the bank’s digital-first banking approach to meet evolving consumer expectations, improve operational efficiency, and extend services beyond its branch network.
“We are combining the services that people need to conveniently and securely manage their finances on any device,” Sabido said.
“But more importantly, we are lowering the barriers to owning a bank account so more people can enjoy the financial security, stability and flexibility of having a financial partner like Chinabank,” he said.
Chinabank, the fourth-largest private universal bank in the Philippines, continues to bolster its technology infrastructure to provide simple, secure and digital-first banking experiences.
The Asian Banking & Finance named it Best Domestic Retail Bank of the Year in 2024. In 2023, its technology partner recognized the bank with the Big Shift Champion of the Year award for digital transformation and customer engagement, followed by the Enterprise Planning and Execution Excellence of the Year award in 2024.
