Insider Spotlight
Under the tie-up, SRRV applicants may open accounts with Security Bank as part of the visa application process and gain access to an exclusive Time Deposit rate, premium onboarding support, and priority relationship management. Account opening and servicing are handled at the bank’s Reposo–J.P. Rizal Branch in Makati City, which serves as Security Bank’s dedicated hub for SRRV clients.
Why it matters
For returning Filipino retirees, relocating back to the Philippines often means rebuilding local banking relationships while meeting SRRV-related financial requirements. By aligning account opening and time deposit placement with the visa process, the partnership aims to make the transition smoother and more predictable for retirees planning long-term residency in the country.
What’s included
Eligible SRRV clients may place time deposits at rates higher than standard market offerings, with automatic renewal features aligned with SRRV visa terms. Depending on individual qualifications, clients may also be offered enrollment in Security Bank’s VIP Gold Circle membership program, which includes priority queuing across branches, waived fees for select certificates, statements, and over-the-counter transactions, and a complimentary annual checkbook.
Additional privileges may include unlimited free InstaPay and PESONet transfers, unlimited free BancNet ATM withdrawals nationwide, and access to a Platinum Mastercard, subject to credit approval. Spouses and dependents covered under the SRRV may also enjoy related banking benefits.
Midway through the rollout, Security Bank said in a company statement that the partnership supports its better banking commitment by delivering a more seamless and secure banking experience for retirees settling into life in the Philippines.
What they’re saying
“This partnership represents our BetterBanking commitment by offering a strong customer value proposition—one that makes banking easier, safer, and more rewarding,” said Leslie Y. Cham, EVP and branch banking group head of Security Bank. “Our goal is to make these clients feel that Security Bank is not just a place to keep their funds—but a trusted partner as they begin a new chapter in the Philippines.”
“Our partnership with Security Bank is built on a foundation of trust and a shared commitment to serve our retirees with excellence,” said Roberto Z. Zozobrado, chief executive officer and general manager of the Philippine Retirement Authority. “Through this collaboration, we are confident that SRRV members will enjoy a seamless and secure banking experience that supports their transition to a fulfilling retirement in the Philippines.”
The backdrop
The SRRV is a Philippine visa program administered by the PRA that allows foreign nationals and returning Filipinos aged 40 and above to live, retire, and invest in the country with long-term residency benefits. The PRA is a government-owned and controlled corporation under the Department of Tourism.
What’s next
SRRV applicants may initiate account opening through PRA channels and complete onboarding at Security Bank’s Reposo–J.P. Rizal Branch in Makati City, located at the Kalimera Building along Nicanor Garcia Street corner J.P. Rizal Avenue. — Princess Daisy C. Ominga | Ed: Daxim L. Lucas
