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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
  1. For Withdrawal
    1. Member proceeds to the Satellite Office, and submits withdrawal slip.
    2. Staff verifies the identity of member, and the information written in the withdrawal slip, and sends documents to the Branch Office.
    3. Branch personnel processes the withdrawal transaction through the Instacredit Facility.
    4. 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.
    5. Member presents the reference number to the payout centers
  2. For Loan
    1. Member proceeds to the Satellite Office to submit loan application and requirements.
    2. Loan Staff at the Branch Office processes loan application.
    3. Staff requires member to sign on the payment advice, drawdown slip and MA schedule to member.
    4. 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.
    5. 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
1. M Lhuillier Php 80 Php 100,000 / transaction
2. Cebuana Lhuillier Php 80 Php 30,000 / transaction
3. LBC Php 80 Php 75,000 / transaction
4. Globe Cash Php 80 Php 40,000 / transaction
5. Bayad Center Php 80 Php 250,000 / transaction
6. 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.