PNB counters ATM fraud with affordable insurance

MANILA, Philippines - The Philippine National Bank (PNB), in partnership with the Global Benefits Group (GBG), PNB General Insurance Co. Inc. (PNB Gen) and Allied Bankers Insurance Corp. (ABIC), has come up with a viable solution to ATM-related theft.

ATMSafe is PNB’s answer to the country’s mounting ATM theft problem.

This innovative insurance product is the first in the Philippines that secures and protects ATM cardholders and their accounts.

For only P12 per month, ATMSafe replaces money stolen from a cardholder’s account as a result of skimming or any of the other forms of ATM theft scams.

ATMSafe also ensures the safety of PNB ATM cardholders as it restores money stolen during an ATM robbery – up to P50,000 for a maximum of three incidents per year.

Open a PNB ATM account and avail of PNB’s ATMSafe, or via selected PNB ATM terminals nationwide.

“Skimming” is done by placing a device that reads a cardholder’s information over the ATM card slot.

This device is often paired with a hidden miniature camera that reads the user’s PIN.

Once the card has been skimmed, the perpetrators can now create a fake ATM card and make unauthorized withdrawals and transactions on the cardholder’s account.

As part of its campaign, PNB launched the Panalo ang Protektado promo that entitles customers with raffle points earned per enrollment in the bank’s ATMSafe program from Sept. to Nov. 30, 2014.

Four lucky winners will receive a brand new Yamaha Fino Classic Motorcycle (one each for NCR, Luzon, Visayas, and Mindanao), three winners will receive an iPad Mini 16GB WiFi, 10 winners will receive Nokia Lumia 520 phones, and 50 winners will receive P300 worth of Sodexo gift certificates.

The winners will be electronically drawn on Dec. 14, 2014.