Seven banks extend operating hours for customs settlements

Seven banks are adjusting operations to accommodate more customs clearance payments, the Bureau of Customs (BOC) said on Monday.

According to the bureau, Deutsche Bank AG, Security Bank Corp., Asia United Bank Corp., Metropolitan Bank & Trust Co., Rizal Commercial Banking Corp., BDO Unibank Inc., and East West Banking Corp. have all agreed to extend working hours.

"Last January 11, the service was initialized via the PAS 5 Host-to-Host 24/7 interface by the Philippine Clearing House Corporation, a private corporation equally owned by commercial banks enlisted as members of the Bankers Association of the Philippines (BAP)," the BOC said.

"We are already seeing faster movement within our ports in terms of released shipments over the weekends which had been otherwise not possible without this extended clearing payment service," Customs chief Alberto D. Lina said in an emailed statement.

Lina is keeping his fingers crossed that the positive response of the banks would translate to a better performance of the bureau in revenue terms.

"We will continue to look for ways to provide better services for our stakeholders even in these last few remaining months in the administration," the BOC chief noted. – Jon Viktor Cabuenas/VDS, GMA News