MANILA, Philippines - East West Banking Corp. (EastWest Bank) has declared a payment holiday to its credit cardholders in calamity-stricken areas.
They are given a 30-day extension from their latest payment due date to settle their credit card balances. EastWest will likewise waive the late payment fees of affected cardholders.
Interest charges, however, shall be applied on the outstanding balance. “By giving them an extension on their due dates, our cardholders can focus on rebuilding their homes and securing the basic necessities for their families such as food, water, medicine and clothes,” Antonio C. Moncupa Jr., EastWest Bank president and chief executive officer, said.