Servicing the Rural Poor through Electronic Banking

Nanay Conella Culla of Center Masipag 6-B (left) is overwhelmed with her first successful ATM transaction together with Ms. Dolores M. Torres, President and CEO of CARD Bank, Inc. (right) and Ms. Glenda Magpantay, CARD Bank, Inc. AVP for Operations (middle) during the MATAPAT Savings Launch in Candelaria, Quezon last October 2, 2012.

In keeping abreast with technology solutions to address the growing needs of its clients, CARD Bank, Inc.  launched the Matapat ATM Savings Account in its 10 branches in 2012.

Just like the other products of CARD Bank, Inc., the Matapat ATM Savings Account aims to bring low cost financial services to the underserved poor and low-income individuals primarily based in the rural areas.  Since its introduction in CARD Bank San Pablo Branch in 2010, it was able to mobilize a total of 54,237 accounts with deposits amounting to PhP 46.3 Million.

The Matapat ATM Savings Account enables clients to access bank services from various locations 24 hours a day, 7 days a week. More importantly, it eliminates waiting in long queues in making cash withdrawals and conveniently performing other bank transactions such as bills payment, reloading of mobile phone load, and domestic and international remittances.

Clients open MATAPAT Savings Account during the Barangay Savings Caravan in Tagakawayan, Quezon last January 28, 2013.

With an initial deposit of P 100 and a maintaining average daily balance of P500 to earn an interest of 1.5% per annum, CARD Bank, Inc. members and clients can easily open an ATM account which makes savings affordable for them. The burden of additional cost to clients is also eliminated as CARD Bank, Inc. made the “on-us” transactions free of charge.

The warm reception of CARD Bank clients during the launch event of the Matapat ATM Savings Account is a testament to the anticipation and excitement they have towards this new savings product. Aside from receiving freebies for opening accounts with an initial deposit of P500 and up, clients also enjoyed the fun games and a special “meet and greet” with Cardee, CARD Bank Inc.’s lovable mascot.


Hundreds of CARD Bank, Inc. members support and join the motorcade during the grand launch of MATAPAT Savings held at the town proper of Tagkawayan, Quezon.

Expect the Matapat ATM Savings Account to be in full swing this year with its scheduled launch in 23 more CARD Bank, Inc. branches nationwide.