NextGen Day

In the wake of a spike in coronavirus disease (Covid-19) cases, a House of Representatives leader called for a suspension on the collecting of online bank transfer fees on Thursday.

Deputy Speaker Bernadette Herrera said the Bangko Sentral ng Pilipinas (BSP) and the banking community should collaborate to assist Filipinos affected by the recent outbreak of new infections, which has forced some banks to close or limit their hours of operation, forcing the public to rely on electronic banking.

Herrera believes that banks should continue to provide relief to their distressed consumers by extending their charge waivers for online fund transfers.

“We must remind the BSP and the banking community that the epidemic is far from over, and we are currently experiencing a new wave of disruptions that are making it more difficult for our kababayans to recuperate,” Herrera added.

She added that the micro, small, and medium enterprises (MSMEs) are frequent users of online bank transfers, that the sector was one of the most hit by the pandemic and subsequent quarantine measures, and that it has yet to recover from the health crisis’ severe impacts.

“In order to stave off the grave economic impacts of Covid-19, we must continue to provide much-needed support to burdened MSMEs,” she stated.

She claimed that banning online banking fees and levies is the correct thing to do in this era of social alienation and digital commerce.

“Small things like temporarily removing costs for digital fund transfers encourage individuals to undertake online transactions when they’re at home,” Herrera said. “It’s also a little gesture to lend a hand in these trying times.”

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