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July 12, 2004 - Security Bank Corporation today launched the Security Bank CheckPower checking account that offers clients higher interest rates on their deposit while having the convenience of a checking account.
Joven Hernandez, Security Bank senior vice president and Consumer Banking group head, said that Security Bank CheckPower is a current account with tiered interest rates that is based on the client’s average daily balance and number of withdrawals for a given month.CheckPower is perfect for individuals and business entities who want to maximize yields on their deposits yet still want the flexibility to draw on their funds whether it be for programmed expenses or unforeseen emergencies.
CheckPower account holders are given round-the-clock banking access through Security Bank’s Security TeleBanker, Security MobileBanker and BancNet Online. These e-banking facilities will enable clients to perform various banking transactions like balance inquiries, fund transfer, bill payment and checkbook reorders among others.Security Bank is currently focused on increasing both its deposit and customer base by introducing new financial products that meet the different needs of its customers. CheckPower is one such product that is expected to bring in new accounts for the bank.
"We expect this new product to increase Security Bank’s deposit levels and create loyalty by giving clients what they need. As part of Security Bank’s consumer banking business, we are closely tracking a 3-year plan aimed at achieving a more focused delivery of products and services to our customers through new initiatives and products," Hernandez said.With a minimum opening balance of P50,000.00, the customer is given a checkbook and a monthly statement of account. CheckPower is available at all Security Bank branches.
Security Bank has total assets of P73.5 billion and P10 billion in capital funds making it one of the highest capitalized and stable banks in the country.
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