The Bank of the Philippine Islands (BPI) has introduced a new service allowing customers to deposit cash directly into their accounts through cashiers at participating supermarkets and retail stores, as reported by Google News and ANC 24/7.
The over-the-counter deposit service is designed to provide greater convenience for BPI clients, who can now make deposits outside traditional bank branches during regular store operating hours. The move expands BPI's alternative channels, which already include ATMs, online banking, and mobile app deposits.
This initiative aligns with the growing trend among Philippine banks to partner with retail networks and fintech platforms to extend financial services to underbanked areas. By leveraging existing retail infrastructure, BPI aims to increase deposit accessibility without the overhead of opening new branches.