Philippine Savings Bank (PSBank), a subsidiary of Metrobank Group launches PaSend, a cash remittance service that allows PSBank customers to send money instantly to anyone, at any time using its mobile application. 

Recipients of this new service can withdraw remittances through a cardless transaction in any PSBank or Metrobank ATM. Even individuals who are not clients of PSBank and people without bank accounts can use this service to receive money.

PSBank said that the fees are minimal and can compete with local remittance centers. PaSend transaction’s service fee is Php25 if the receiver withdraws in a PSBank ATM, and an additional of Php7.50 fee if from a Metrobank ATM. The sender will shoulder all costs.

How PSBank PaSend works

To avail the PaSend service, customers must log-in to their PSBank mobile account and choose “PaSend” from the menu. They will be asked to give the following information: PSBank source account, specific amount to be remitted, random 4-digit PIN, which will serve as the PIN1 and the recipient’s name and mobile number.

The client will receive a one-time-password through SMS or in-app notification to verify the transaction. After the verification process, a system-generated 6-digit PIN (PIN2) will be sent to the recipient. The client must then advise the PIN1 to the benificiary.

If the recipient already has both PIN1 and PIN2, he/she can withdraw the money in any PSBank or Metrobank ATM through PaSend/Cardless Withdrawal Option.


It is important to note that PIN2 is only valid for 12 hours. If it goes beyond that time duration, the sender must create another transaction. However, the transaction fee from an expired request is non-refundable, so it’s best to withdraw the fund soonest possible.

In addition, customers can only withdraw the exact amount indicated in the SMS. Partial withdrawal is not allowed.

Once the transaction is complete, the sender will receive an SMS and email confirmation.

The sender can make multiple PaSend requests in a day. However, the allowed amount per single account is only Php30,000 daily and Php50,000 monthly. All request must contain amounts that are divisible by 100, with a minimum of Php200 and a maximum of Php5,000 per transaction.

Cancellation of PSBank PaSend Request

Customers can still cancel incomplete transactions. However, they can no longer change the details in the request such as beneficiary name or amount. Instead, the sender can cancel the previous request and make a new one. Service fee for a canceled transaction is non-refundable, so it is important to make sure that all requests are correct.

To cancel a pending PaSend request, the customer may use the PSBank Mobile app or call customer experience hotline.

In addition, three invalid attempts by the recipient will automatically cancel the transaction. Both parties will get notified of the situation. Service fee is also non-refundable.

Benefits of PSBank PaSend

With the new PaSend service, PSBank hopes to provide its customers with a cheaper way to send money to their family and friends because of its minimal transaction fees. Given that PSBank and Metrobank ATMs are available 24/7 nationwide, Filipinos will find this to be also convenient. PSBank also stressed that PaSend’s multiple authentication reduces risks of fraud and makes it safe to use.

Moreover, this does not only benefit PSBank clients but also non-clients, especially those unbanked individuals.

According to the financial inclusion survey by Bangko Sentral ng Pilipinas in 2017, only 22.6% of the total Filipino adult population have bank accounts — leaving 52.8 million unbanked Filipinos. Sixty  percent of the responders said that they do not have enough money for it.

From the same survey, results show that a lot of Filipino adult population still use over-the-counter remittance transaction because of its convenience. Other reasons mentioned in the study include cheaper fees, faster service, and more accessible physical stores.

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