Crypto and Web3 News from the Philippines
Gcash said the initiative is in support of the government’s implementation of more stringent health and safety measures amid the more lenient community quarantine in certain areas in the Philippines.
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Here are the advisories related to payment of utility bills during ECQ, GCQ, and MECQ in the Philippines.
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In view of the imposition of MECQ and GCQ in the country until May 31, 2020, the 30-day grace period for loan payments will be further extended to all loans with principal and/or interest falling due from March 17, 2020 to May 31, 2020.
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The Securities and Exchange Commission (SEC) instructs financing companies, lending companies, and microfinance NGOs to extend the grace period applied on loans until May 15, 2020 as the enhanced community quarantine (ECQ) is also extended up to that date in key cities and provinces in the Philippines.
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The Department of Finance (DOF) warns the public of fake news circulating on the Internet claiming that the government created a platform where citizens can invest in cryptocurrency.
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The logical thing to do here is to wash (or put disinfectant on) one’s hand before and after touching paper bills. However, there are reports of people washing or disinfecting the bills instead.
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Local cryptocurrency exchange PDAX said it is suspending cash-out fees for withdrawal requests made via InstaPay and PESONet starting from April 28, 2020 –
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Amid the current public health situation due to COVID-19, digital channels are more important than ever for the customer’s financial needs.
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Banks are encouraged by the Bangko Sentral ng Pilipinas (BSP) to suspend fees on fund transfer services and interbank ATM Transactions.
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How long is the grace period for loan payments due to ECQ? Are there interest charges during the quarantine? What about insurance fees during ECQ?
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