MANILA, Philippines - Equicom Savings Bank has launched a new service that allows new and existing cardholders to issue checks charged to their credit card, the bank announced yesterday.
Dubbed as the Equicom Super Check facility, the service allows cardholders to issue checks for up to 100 percent of their available credit card limit, the bank said.
“With a minimal service fee of 1.50 percent for every check issued and the ability to pay through installments at lower interest rates, Super Check is a cheaper alternative to credit card cash advance facilities. Super Check even allows cardholders to pay for transactions that cannot be paid through a credit card, while continuing to earn rewards points,†Equicom also said.
The move is part of the bank’s efforts to help clients face the unexpected through innovative services that allow them to enjoy low interest rates, the flexibility of paying on installment, and the ability to issue checks charged to their credit card.
Equicom, a duly licensed thrift bank, is part of the Equicom Group of Companies, a conglomerate that has investments in information technology, healthcare and financial services.
It is chaired by businessman Antonio Go, the former chairman of Equitable PCIBank as well as the founder and president of Equitable Card Network. Go was also a member of the executive committee of Visa International Worldwide, chairman of Visa International Asia-Pacific and was a director since 1980, the company said in its profile.