Category: Top Stories

The World Health Organization (WHO) has advised the public to shift to contactless transactions and avoid in-person activities as well as handling money as much as possible as they can be a potential COVID-19 carrier and accelerate the spread of the disease. This is not new since digital or online transactions have been existing around the globe for years already. Many businesses and banks have already pioneered digital transaction for the convenience of their consumers which includes easy payment and for security purposes.

 

Here’s a rundown of some activities you can do online to avoid in-person transactions.

 

• Check your balance
• View your bank and transaction statements
• Transfer funds
• Pay your bills, loans and other obligations
• Buy or sell goods

 

Moreover, when buying or selling products or services, what you need to do are the following:

 

• Pre-purchase/Sale – check the details of the product or service that is advertised online.
• Purchase/Sale – when you like a particular product or service, you buy it and make the payment online.
• Delivery stage – the goods that you bought will be delivered to you.

 

These stages in your online transaction are the easiest ways, so you will no longer need to go outside and travel back and forth from your house to a store.

 

How does digital or online payment work?

 

The no face-to-face transaction is really a big help amid the quarantine due to the COVID-19 pandemic. You can use it to help avoid the proliferation of cases. All you have to do is connect your device such as a phone, a desktop, or a laptop to the internet, and then choose to process your payment for goods or services through online transactions via debit card, credit card, or electronic funds transfer (EFT).

 

The first two choices are the most common ways of online payment here in the Philippines. The debit card is a direct debit transaction, meaning, it’s a way to transfer funds in real-time from a bank account to a merchant or an automated teller machine (ATM). By using the credit card, you can borrow money from a financial institution to make a purchase. Just don’t forget to pay full or on time to avoid paying the interest charges or late fees and make a minimum payment so you can pay less than the full balance. The latter option allows payment by using electronic signals to transfer money. When you start an EFT, signals are sent from the terminal via 128-bit encryption which makes it more secure in transferring your money. The 128 -bit SSL (Secure Sockets Layer) encryption renders 1 million different combinations, so it would be impossible for the average hacker to guess your sensitive information.

 

When using one of these options, you have to give information about the transfer, such as your account number, account holder name, and the transfer amount.

 

Due to the limited stores, banks, and businesses open and numerous applications for each, many are having a hard time processing their transactions. It’s very efficient now that there are non-bank financial services providers that are offering a single and efficient way to do all of your online transactions. Thanks to Cebuana Lhuillier Rural Bank, these are made possible through the Cebuana Lhuillier Micro Savings and the  eCebuana Mobile App.

eCebuana

By using the eCebuana app, you can do the following.

 

• Receive shipments from other banks to your micro-savings account.
• Send money to other micro-savings accounts.
• Check micro-savings balance.
• Send money to another Cebuana Lhuillier branch
• Make an e-load or pay your bills online

 

Cebuana Lhuillier Micro Savings

Cebuana Lhuillier Micro Savings is almost the same with any regular savings account, but the good thing about this is that it doesn’t require a maintaining balance. Kids as young as 7 years old can open their own Micro Savings account, and it can be considered as a  “kids savings” or  a “junior savings” account.

 

You can open your account by visiting the nearest Cebuana Lhuillier branch to fill out some forms. You will be needing P50 for the minimum initial deposit, a P100 card fee (for clients without 24k card), and one (1) Government-issued ID such as passport, driver’s license, birth certificate (for minors only), or student ID (applicable only if the student is currently enrolled).

 

And for faster and more convenient transactions, you may connect your Micro Savings account to your eCebuana app. By doing so, you need to connect and register your 24K card number to the application to proceed with your desired transactions.

 

COVID-19 truly challenges traditional banking and business habits, but through adapting to their digital solutions and fintech, you will no longer have difficulty making any transaction. It will not just make your life easier, but also safer.

 

If you want to know more about our services and products, visit us at our www.cebuanalhuiller.com

Coronavirus has affected millions of Filipinos around the world. Many have experienced significant financial losses; others have lost their jobs. Because of such, some of your loved ones may turn to different financial institutions to help themselves and provide for their daily needs. But the problem would be, those institutions can’t give much flexibility in loaning money. Their second option would be borrowing money from you.

 

It would be fortunate for them if it’s amenable for you to lend them a substantial amount of money to help them get through the crisis. But it’s also natural if you have second thoughts on lending money because lending money can turn awry. On the one hand, it’s terrible for you if they won’t be able to return the money; but on the other hand, you’re helping a family member get back on their feet.

 

If you decide to help them out, the question that’s probably running in your head would be, what’s the fair amount to lend anyone during this difficult time?

According to the New York times, before sending money to someone, you should first reflect on what your intention is—if it’s a loan or a gift. If it’s a loan, you should advise your loved ones the terms of lending him money. You may tell them that he can give back your money as soon as he already has a new job or clearly state that you will need the money at a particular time and if he could pay you back by that time. It’s important to tell them these kinds of things as many families are almost torn apart just because of money.

 

In any terms, you should prepare for lapses. It’s because lending money can have certain consequences that may occur after.

 

Let’s say that you have six months of emergency money.  If you gave two months of it to your sibling who was laid off from his work, don’t expect him to pay you back soon because it’s unsure whether your sibling can find a new job within two months. You should also have extra money for yourself should your brother fail to pay you back at the agreed time.

If you’re not comfortable with that kind of setup, you should ask yourself if you can afford to loan a loved one. Moreover, you should also probably consider planning before lending some money. Set clear payment terms before giving your loved ones a loan. It can help you clarify the appropriate amount to be remitted during this pandemic and the time you want to get your money back in full.

 

You must know when to draw the line in lending money. It’s nice to provide when you can, but if you also have your own liabilities, it’ll be smarter to make sure that you’re able to cover yourself first. It will be better for you to be honest with your loved ones or relatives about your current financial capabilities, so they’d understand. You don’t need to bleed yourself out just to accommodate everyone.

 

It might be awkward, but it wouldn’t be nice if you can’t pay your bills just because you’re trying to be generous when you couldn’t afford it. If you think you have more than enough, then that’s when you can extend your help to anyone.

 

Furthermore, there are also alternative ways to help if you can’t lend a lot of money to your loved ones.

 

For instance, your brother didn’t lose his job, but his company cut his salary as they experienced financial problems brought by the pandemic. In this case, if you can’t afford to send him money, you can lend him your vehicle temporarily, so he can use it to go to work. If he needs an internet connection, you can let him stay with you for a while to continue his work remotely. You may also consider sending him some food necessities to lessen his burden on where to get money to buy his food.

 

These simple acts of kindness can help your loved ones know that they’re not alone during this health crisis. You are right in being a responsible sibling and family member. You must be thankful that you are blessed enough to provide help and assistance to other people. Be that as it may, don’t forget to keep your finances in check. Make sure you have enough resources before keeping others warm.

 

Cebuana Lhuillier can help you to be more financially secured. With their Micro Savings, you can  open your own bank account to save money without maintaining balance. You can also use their other services like Pera Padala and pawning, where remittances and transactions are fast, convenient, and safe. So, what are you waiting for? Visit your nearest Cebuana Lhuillier branch today!

 

 

 

 

 

 

Gardening is booming during this pandemic. Many are calling themselves “Plantitos” and “Plantitas” as they take care of plants and grow their own food amid the quarantine. People also make use of propagating plants to relieve stress and save money.

But why is gardening so comforting? How can it help you to save and gain profit? Here’s what we’ve gathered.

 

Keeping you and the environment well

Being healthy is important and taking your time to reconnect with the environment will give you experiences that help you improve your health both physically and mentally. Science champions the power of planting as it can be a therapy to reduce stress, hypertension, depression, anxiety, and other mental illnesses. There are aromatic plants, that you can buy online or from physical stores, which help you remain calm. Meanwhile, the act of gardening is physically beneficial because you are using several of your muscles.

 

In addition, you can help the planet through planting or gardening. Plants give off the oxygen we breathe and take in carbon dioxide which helps the Earth’s atmosphere in providing you with fresh air and a cool climate. For some who don’t have outdoor space for this new hobby, you can make a small terrarium which can be installed inside your house as it doesn’t require much space. It will improve your household environment by minimizing extreme temperature and reduce energy consumption. You can also use this opportunity to learn or upgrade your waste management skills. It involves composting where you use decaying organic materials as a plant fertilizer. It will not only nourish your plants and crops, but also reduce your carbon footprint and generate less waste.

 

Furthermore, this new hobby can be good for family interactions. With everybody taking care of the plants, you can all reduce your dependency on gadgets and develop a deeper relationship with your family.

 

Access to food

There are different varieties of plants, vegetables, and fruits that can be found in our environment. Some establishments and businesses have seeds of such variety, but since it’s difficult to go outside because of the quarantine, there are online sellers whose products include organic seeds. You can also get some stems and seeds from the vegetables and fruits you bought or that are stored in your fridges such as peppers, onions, lettuce, tomatoes, guavas, and papayas. By planting their stems and seeds in your garden or terrarium, you can now have a better supply of food that you can assure of its quality–also, chemical-free.

 

Own a mini farmer’s market and SAVE!

Taking care of plants and producing your own crops can earn and save you some money. By making your own garden, you can eventually build your own mini farmer’s market. The plants and crops that you get from gardening can save you money from transportation to the supermarket and buy a bunch of food items. Then, you can actually earn as your market can be your friends, neighbors, or people buying online. You can sell them a 100% organic and 100% fresh as you can easily pick them up in the garden and have them delivered to your customers in an instant. This, surely, can be a better way to earn because the pandemic has caused shortages in the grocery store.

 

And to keep your savings safe, why not try to secure them through Micro Savings.

 

Cebuana Lhuillier offers you its Micro Savings product with no maintaining balance needed. So, you can put as low as P50 into your account until you can earn more from your mini-farmers market.

 

Clearly, gardening is going to play an important role in our society, during and after this pandemic. Being in quarantine can make you explore biodiversity, practice simple living, and at the same time, be an entrepreneur. That’s why it’s important that at this point, you’ll have access to at least a small garden, so you can expand in the future to avoid any new sources of carbon emissions and gain more profit.

 

If you want to know more about our services and products, visit us at our www.cebuanalhuiller.com