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October 01, 2023

UnionBank says connectivity issue resolved

Union Bank of the Philippines headed by bankero Edwin Bautista said it has resolved a connectivity issue that inconvenience several customers late last week.

“Last Friday, July 8, some of our customers’ ability to withdraw money via ATM and receive funds via Instapay was affected by a systems connectivity issue with our partner, Bancnet,” the bank said in a statement.

According to the Aboitiz-led bank, service was completely restored in collaboration with Bancnet within the same day.

“We were able to immediately credit affected customers within 24 hours,” UnionBank said.


BSP disqualifies unregistered money service business

The Bangko Sentral ng Pilipinas (BSP) has disqualified Riyben Foreign Exchange for operating an unregistered money service business, part of BSP’s ongoing efforts to curb unauthorized MSBs, following similar actions taken against six other firms earlier this year.

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