InstaCredit
An additional cash payout/transfer facility in partnership with Rizal Commercial Banking Corporation (RCBC).
Instacredit allows members to claim their loan proceeds or cash withdrawals thru any of the following:
- Credit to member’s account with RCBC or RCBC Savings Bank (RSB)
- Credit to local bank account other that RCBC and RSB
- Cash pick-up at RCBC or RSB or any telemoney partners, such as: M Lhuillier, Palawan Pawnshop, Cebuana Lhuillier, LBC, Globe Cash or Bayad Center
Procedures
- For Withdrawal
- Member proceeds to the Satellite Office, and submits withdrawal slip.
- Staff verifies the identity of member, and the information written in the withdrawal slip, and sends documents to the Branch Office.
- Branch personnel processes the withdrawal transaction through the Instacredit Facility.
- Member waits for the SMS (text message) notifying him that he may already claim the
proceeds from his chosen partner payout centers. Reference number is also indicated in
the message.
- Member presents the reference number to the payout centers
- For Loan
- Member proceeds to the Satellite Office to submit loan application and requirements.
- Loan Staff at the Branch Office processes loan application.
- Staff requires member to sign on the payment advice, drawdown slip and MA schedule
to member.
- Member waits for the SMS (text message) notifying him that he may already claim the
proceeds from hi chosen partner payout centers. Reference number is also indicated in
the message.
- Member presents the reference number to the payout centers.
FAQs
Q: What are the service types offered to members?
A: The following options are available to members:
- Credit to member’s bank account
- Cash pick-up at any branches of RCBC
- Cash pick-up at 3rd party partners, such as pawnshops and bayad centers
Q: Is there a service fee?
A: The following are the fees applied depending on the type of transaction and cash limits:
| SERVICE |
SERVICE FEE |
CASH LIMIT |
| Credit to member’s RCBC account |
FREE |
No maximum |
| Credit to local bank account other than RCBC |
Php 50 |
No maximum |
| OTC at any RCBC Branch |
Php 80 |
Php 750,000 / transaction |
| M Lhuillier |
Php 80 |
Php 100,000 / transaction |
| Cebuana Lhuillier |
Php 80 |
Php 30,000 / transaction |
| LBC |
Php 80 |
Php 75,000 / transaction |
| Bayad Center |
Php 80 |
Php 250,000 / transaction |
| RCBC |
Php 80 |
Max Php 750,000 / client |
Q: What other requirements need to be presented to the payout centers?
A: Aside from showing the SMS or Payment Advice, member must also present two (2) valid IDs.
