Former governor of Ilocos Sur and current senatorial candidate Luis “Chavit” Singson has launched VBank, a digital banking platform designed to promote financial inclusion in the Philippines.
To address the challenges faced by underserved communities, particularly in remote areas, VBank offers a convenient and secure way for Filipinos to access essential banking services without visiting a physical bank.
VBank allows users to open bank accounts online, send money to other banks and digital wallets, pay bills, and purchase mobile loads through its user-friendly platform. It is part of Singson’s effort to provide a digital banking solution that makes financial services more accessible to individuals who traditionally lack access to conventional banking institutions.
In addition to its digital banking features, VBank has partnered with over 6,000 cash-in outlets nationwide, including well-known establishments like Tambunting Pawnshops, Puregold, and Alfamart. These partnerships ensure that VBank customers can perform transactions, such as depositing or withdrawing cash, even in remote or underserved areas.
Singson’s vision is to bridge the gap for the approximately 70 percent of Filipinos who do not currently have access to a bank account. According to Singson, this lack of financial inclusion poses a barrier to economic growth, as much of the country’s money remains outside the formal banking system. Through VBank, Singson aims to foster economic empowerment by offering an easy and secure way for Filipinos to participate in the formal financial system.
To encourage engagement with the platform, VBank launched the “58 Days Milyun-Milyong Papremyo” raffle. The contest offers daily prizes, including P5,800 each day and a grand prize of P58,000 on the 58th day, with a grand prize of P580,000 on the final day. This initiative is designed to raise awareness of VBank’s services while giving users a chance to win valuable prizes.
VBank is also paired with the VCard, which is powered by Visa and Mastercard. The VCard offers an additional layer of convenience and security, as it can be delivered directly to users’ homes, eliminating the need to visit a branch. This delivery service is especially beneficial for individuals in rural areas who may face difficulties accessing traditional banking locations.
Comedy Queen Ai Ai Delas Alas, who serves as the brand ambassador for VBank, was present at the launch event, held during the “Blackout Festival” at Bridgetowne Destination Estate in Quezon City.
“VBank is a transformative tool that can help many Filipinos, especially as we continue to embrace the digital age,” Delas Alas said of the platform’s potential to address financial exclusion.
Singson also highlighted his plans to collaborate with local government agencies to expand VBank’s reach and ensure that more Filipinos can benefit from the platform’s services. He emphasized that VBank’s mission is not only to provide financial services but also to contribute to the country’s economic growth and financial inclusivity.
For more information about VBank or to download the app, visit the official website or search for “VBank” in the App Store or Google Play Store.
