MANILA, Philippines - Philippine National Bank (PNB) has launched the country’s first comprehensive unit investment trust fund (UITF) online facility that will enable clients to invest and redeem funds easily through the Web.
The UITF online facility eliminates the need to fill up paper forms at the branches since it now allows customers to open their preferred UITF through PNB’s Internet banking facility.
The account details are then automatically transmitted to the client’s UITF account where they can already save money and track their investments online.
PNB first senior vice president and head of trust banking group Rafael G. Ayuste said customers can just sit down, relax, open their mobile phones or laptops, visit PNB Internet Banking, apply for a trust investment account, wait for the approval of enrollment within 24 hours and invest online.
“Our clients can do everything at their fingertips. This new service can also help them to effectively manage their investments because they can view the status of every investment they have entered in the system. They can also look at their statement of account and view how the funds’ performances have been from the time they invested until today,†Ayuste said.
There is also a UITF calculator where investors can calculate how much they have earned from the funds. As an added service, redemption can also be made online and will be credited to their nominated settlement account.
“At the end of the day, it’s still the convenience of being able to invest, view, calculate, and redeem online. We are very excited for the benefits that PNB UITF online provides. We aim to empower Filipinos by encouraging them to save and invest wisely. We also want to tap the Filipino youth who are tech-savvy and are already aware of stocks and investments,†the PNB executive added.
With the facility, clients can now open an auto invest plan (AIP) which allows clients to regularly set aside a portion of their savings for automatic investment to a PNB UITF of their choice once it reaches the required threshold amount.
The PNB AIP provides clients with potentially higher returns than the traditional savings deposit.
The bank offers a wide-range of trust products which includes the following: Mabuhay Prime Fund, Dollar Prime Fund, Mabuhay Prestige Fund, High Dividend Fund, Enhanced Phil-Index Reference Fund, Mabuhay Plus Fund, Dream Builder Fund, Dollar Profit Fund, and Global Filipino Peso Fund.
For more information about the benefits of the PNB UITF online and other trust products, contact customer service at 573-8888 or log on to www.pnb.com.ph.