#cash deposit stores

(RRHI) to launch a barcode-enabled cash deposit service. It lets customers to deposit money into BPI accounts through participating retail stores nationwide. Users can choose whether to deposit to their own account or another BPI account, enter the amount and present the generated barcode to a cashier at participating stores within one hour. Christine Tueres, managing director of RRHI, said: "Our partnership with BPI allows us to go beyond retail by offering convenient, accessible financial services within our stores, making essential transactions like deposits and withdrawals part of our customers’ regular shopping routines," she said. (RRHI), allowing customers to withdraw cash for free and without a card by using the BPI app in selected RRHI stores nationwide. The Bangko Sentral ng Pilipinas (BSP) has issued a new regulation capping daily over-the-counter cash withdrawals at Php 500,000 per depositor, aiming to curb money laundering, terrorism financing, and proliferation financing risks in the Philippine banking system. Cash withdrawals above the cap are only permitted if the depositor submits proof of legitimate business necessity and the bank conducts enhanced due diligence (EDD). Read more in our articles including "BPI partners with Robinsons Retail for barcode cash deposits in stores" and "BPI now lets you withdraw cash for free at Robinsons stores".