China Bank, CBS waive fees for Zamboanga clients

China Bank, CBS waive bank fees for Zamboanga clients

As business operations in Zamboanga City halt due to the continuing standoff between the military and the Moro National Liberation Front (MNLF), China Bank and its thrift bank arm China Bank Savings (CBS) are making special accommodations for clients in Zamboanga.

“Our main priority is to be able to serve the basic banking needs of our customers in Zamboanga without compromising the safety of our own personnel. Thus, we are relaxing our policies to help our customers during these trying times,” said SVP Samuel Chiong, deputy head of China Bank’s Branch Banking Group.

China Bank Zamboanga City and Zamboanga-Guiwan branches and China Bank Savings (CBS) Zamboanga Branch, remain closed today, September 12, the fourth day of the siege. The banks’ officials advise clients in Zamboanga to do their transactions through electronic banking channels like ATMs, online and mobile banking—available 24/7—
As well as any China Bank or CBS branch in other areas. China Bank has a total network of 333 branches and 544 ATMs nationwide.

From Sept. 9, 2013 until China Bank and CBS branches in Zamboanga resume operations, China Bank and CBS will reverse the interbank transaction fees for their ATM cardholders in Zamboanga who use other banks’ ATMs to withdraw cash. Meanwhile, cash deposits and withdrawals of Zamboanga clients or their representatives through any China Bank or CBS branch will not be charged with interbranch transaction fees.

China Bank and CBS branches will accept checks drawn in Zamboanga and Basilan (other banks & on-us) intended for deposit as checks for safekeeping only while clearing in Zamboanga and Basilan are still suspended. The check/s will be received and the accompanying deposit slip will be stamped “For Safekeeping.” Upon resumption of clearing operations, these checks will be posted / validated immediately.

Moreover, CBS Zamboanga clients with loan due dates that fall on the on the dates that their branch is closed, will be allowed to pay when operations resume. The late
payment penalty fee will be waived on a case to case basis.

“As we pray for the situation in Zamboanga to return to normal, we are doing what we can to make it easy for our customers in Zamboanga to go about their banking transactions,” said Chiong.

Chiong noted that they are closely monitoring the situation, including the level of cash in their 7 ATMs in Zamboanga: 3 in-branch and 4 off-branch ATMs located in malls. As of today, 5 of their ATMs in the area are operational and can dispense cash.

For account concerns, China Bank and CBS clients may email, call the toll-free number 1-800-1999-5888, call through Webtalk in China Bank’s website, or contact their branch managers directly.


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