More than 500,000 Filipinos save money to celebrate PH’s first ever GCash World Savings Day

MANILA, Philippines – While others were busy trick or treating last October 31, another event was being celebrated by Filipinos who admit that in terms of financial stability, they were in need of saving – the first ever World Savings Day in the Philippines.

World Savings Day is an annual celebration that aims to promote the importance of saving. It’s being celebrated in the US, Austria, Italy, Belgium, Colombia, Cuba, Dominican Republic, Germany, India, Indonesia, and more. 

Now that it’s here in the Philippines, GCash, the country’s premier fintech company and a joint venture of Ant Financial, Globe Telecom, and Ayala Corporation, made sure that it was a day to remember. And it was indeed.

In partnership with GIGIL, an ideas company, and Rappler, GCash celebrated World Savings Day with a full day of activities that aimed to help Filipinos acknowledge their financial struggles and start addressing these through the help of GCash app's newest feature, Save Money, powered by CIMB Bank Philippines, an all-digital multi-awarded bank present in 16 global markets.

GCash Save is just the right first step that Filipinos need in order to start saving. You only need the GCash app, one valid ID, and as small as P1.00 to open a savings account. Compared to other traditional banks, your savings on GCash Save Money can earn as much as 3% interest, and grows to 4% interest with deposits above P25,000 as well.

And half a million Filipinos did just that throughout the GCash World Savings Day livestream hosted by Ceej Tantengco and Jutt Sulit where thousands of Filipinos were tuned in. Lucky savers also got to win an iPhone 11, two pairs of roundtrip tickets to anywhere in the Philippines, and five Huawei Nova 5 smartphones.

“We are looking at making sure that this habit carries on beyond this day. It’s really about making the Filipinos aware that it’s actually easy and very rewarding to be saving,” said Lester Cruz, Head of Consumer Banking, CIMB Bank Philippines. 

Not only that, the viewers also got to learn from GCash ambassadors Robi Domingo, Angelica Yap, and Ricci Rivero who all shared their own financial struggles and those crucial moments when they realized that they, too, need to start saving.

We also heard from Orange Conde, a digital executive; Robi Domingo, host and actor; and Kim Seng, AVP for Financial Services at GCash during a roundtable discussion on the savings landscape in the Philippines.

We also visited some of the partner offices who are on-board this savings movement including Shakey’s, Lalamove, Transportify, Focus, Inc. in Davao, Sunlife, and of course, GCash. 

Quad X, Admerex, Ayala Land, Alveo, Amaia, Bellavita, Makati Development Corp., FooDee Global Concepts, Memo Express, GIGIL, Concentrix, Bench, MSIA Employee Development Corp., and Globe Telecom have also partnered with GCash to push for this advocacy.

The Philippines will now be celebrating GCash World Savings Day together with the world every October 31 until every Filipino is saved.

“This is just the beginning. The vision really is to change the story of the savings behavior and the stories of the Filipino people that we have been seeing online,” said Seng. “We are very hopeful that this will change through this partnership with GCash and CIMB Bank Philippines.” Rappler.com