Marami ang nagtatanong kung ang CIMB and ING Bank are Licensed Banks in the Philippines.
Sikat raw kasi sila ngayon sa pag-o-offer ng digital accounts with high interest rates, pero hindi naman sila nasama sa 6 na newly licensed digital banks (OF Bank, Tonik Bank, UNObank,Union Digital, GoTyme, Maya Bank).
The answer is YES.
CIMB Bank and ING Bank are licensed banks in the Philippines.
CIMB Bank is licensed by the BSP as a commercial bank. ING Bank is licensed as a universal bank.
CIMB is a subsidiary of Malaysian bank CIMB. It got its commercial banking license from the BSP in October 2018 and started its banking operations in December 2018. It has one branch:
CIMB
28th Flr, Ore Central Tower
9th Ave cor 31st St
Bonifacio Global City, Taguig City
+632-580-0101
ING Bank is a branch of the global bank ING Bank, which is based in The Netherlands. It operates in 40 countries around the world. It got its banking license from the BSP in 1990. It has a universal banking license which allows its to serve both consumers and corporate clients. It operates one office here:
ING Bank
22nd Flr, Arthaland Century Pacific Tower
5th Ave cor 30th Street
Bonifacio Global City , 1634 Taguig City
Trunkline: (02) 479-8888
Fax: (02) 815-1116
They are authorized to offer digital accounts. They are authorized to launch mobile banking apps. Just like any other commercial bank in the Philippines.
Ang bawal lang sa CIMB at ING Bank na sinabi ng BSP ay huwag silang mag-advertise as Digital Banks. Lahat ng licensed banks na hindi Digital Bank ang license ay bawal i-advertise ang banking brand nila as Digital Banks. Pero allowed sila to offer digital products.
Are CIMB Bank and ING Bank deposit accounts insured by the PDIC?
Yes, PDIC-insured ang bank accounts ng CIMB and ING Bank, kasi BSP-licensed banks sila. Each deposit account owner with CIMB or ING Bank is insured up to 500,000 pesos.