Managing cash flow is one of the toughest challenges for small and medium enterprises in the Philippines. Whether it's covering day-to-day operations or investing in new inventory, having quick and flexible access to funds can make all the difference.
Security Bank offers tailored cash advance and installment options to help businesses bridge short-term gaps and spread out major expenses. These solutions are designed with SMEs in mind, supporting your operations without overcomplicating the process.
In fact, SME demand for credit is growing fast. According to 2024 data, outstanding loans for key production sectors rose by 10.8%, reflecting a rising need for business financing across the country.
In this blog, we’ll explore Security Bank’s cash advance and installment offerings, how they work, their key features, and how your business can make the most of them.
What is a Security Bank Cash Advance?
Security Bank's Cash Advance facility provides immediate access to funds using your credit card. This service allows you to withdraw cash through various methods, including ATMs and over-the-counter transactions at Security Bank branches. The minimum amount you can avail of is PHP 500, and the maximum is determined by your available Cash Advance limit. This is based on your credit limit and updated after each payment posting.
Once you understand how Cash Advances work, it’s essential to learn about the application process for accessing these funds.
How to Apply for a Security Bank Cash Advance?
To apply for a Security Bank Cash Advance, follow these steps:
1. Obtain Your Cash Advance PIN
Before initiating a Cash Advance, ensure you have your Cash Advance PIN. If you haven't received it:
- Request Online: Visit the Security Bank Credit Card Services page and submit the request form.
- Processing Time: You should expect to receive your PIN via SMS within 3–5 banking days. If SMS delivery fails, the PIN will be sent to your registered email address.
2. Choose Your Cash Advance Method
You can access your funds through:
- Security Bank ATMs/Other Bank ATMs: To access funds, you can use your Cash Advance PIN at any Security Bank ATM, with a withdrawal limit of PHP 10,000 per transaction, or at other bank ATMs, subject to their withdrawal limits but not exceeding your available Cash Advance limit.
- Over-the-Counter (OTC): Visit any Security Bank branch and request a cash advance over the counter. For over-the-counter transactions, you can withdraw up to PHP 30,000 per day at any Security Bank branch.
The cash advance transactions incur a fee of PHP 200 or USD 4 per transaction. If you opt for over-the-counter withdrawals, an additional processing fee of PHP 500 per transaction applies.
With the process of applying for a Cash Advance clear, let’s move on to Security Bank’s diverse installment and payment services that support effective financial planning.
Security Bank Installment and Payment Services
Security Bank provides a versatile range of installment and payment services tailored to help SMEs manage their finances more efficiently and drive business growth. By leveraging these solutions, you can access funds quickly, spread out major expenses, and maintain a steady cash flow, all while enjoying flexible terms and competitive rates.
1. Ready Cash
Ready Cash lets you convert your available credit limit into cash, starting at PHP 10,000, with repayment in fixed monthly installments. This service is ideal for covering urgent operational expenses or seizing time-sensitive business opportunities.
To improve your chances of approval, ensure your account is in good standing, submit complete documentation, and maintain a healthy credit score.
Eligibility:
- Only the primary cardholder may apply for ReadyCash; supplementary cardholders are not eligible.
- The requested amount must fall within the available credit limit.
- The minimum amount for a ReadyCash request is PHP 10,000.
- Existing ReadyCash or Balance Transfer requests must have at least 50% of the balance paid before applying. Failure to do so may result in disapproval.
2. ChargeLight
ChargeLight allows you to convert big-ticket purchases into manageable monthly payments at a low add-on rate. This is especially valuable for SMEs investing in new equipment or business expansion.
For a smooth approval process, ensure your purchases are within your credit limit and promptly provide any required supporting documents.
Eligibility:
- Only the primary cardholder can apply for ChargeLight. Supplementary cardholders must request the primary cardholder to file on their behalf.
- Applications must be submitted at least 5 business days before the billing cycle's cut-off.
- Transactions such as Cash Advances, interest fees, government-related transactions, and gaming-related charges are not eligible for ChargeLight conversion.
3. Balance Transfer
Balance Transfer helps you move outstanding balances from other banks to your Security Bank credit card, letting you enjoy lower rates and lighter monthly installments.
This can simplify debt management and reduce interest costs. Keep your account current and provide accurate details of your existing balances to facilitate approval.
Eligibility:
- Only the primary cardholder is eligible to apply for a Balance Transfer; supplementary cardholders cannot submit requests.
- Ensure all bank details are correct and complete. Both Security Bank and non-Security Bank credit cards must be active and free of any outstanding balances.
- The minimum request amount is PHP 5,000 and must be within your available credit limit.
- Existing ReadyCash or Balance Transfer requests must have 50% of the balance paid. Otherwise, the request will be disapproved.
- For BDO credit cards, ensure the statement of account is complete and not password-protected. For BPI credit cards, the Customer Number from the statement must be provided.
4. Bills Assist
Bills Assist lets you consolidate recurring utility bills into your Security Bank credit card, so you only have one due date to remember. You also earn rewards points for every payment, adding extra value for your business.
To ensure approval, register your bills early and verify that all account information matches your billing statements.
Eligibility:
- The program is available to all primary cardholders who are in good standing.
- Cardholders may enroll any number of accounts with participating Bills Assist Merchant partners.
5. SimplyPay
SimplyPay allows you to convert your purchases into easy installment plans, with a credit limit of up to PHP 500,000. You can choose from flexible terms to repay within a set number of months.
The add-on rate is 1.00% per month, and the total monthly installment is calculated by multiplying the amount by the factor rate. SimplyPay also allows you to use your credit for high-ticket expenses, such as tuition fees or major purchases.
Eligibility:
- Only the principal cardholder, who is in good credit standing, is eligible for SimplyPay.
- The total SimplyPay amount (“Total SimplyPay Amount”) must be at least One Thousand Pesos (PHP 1,000) for regular transactions and Three Thousand Pesos (PHP 3,000) for installment transactions.
6. Pay in Installments
With Pay in Installments, you can use your Security Bank Mastercard to purchase essential business items at partner merchants and pay in easy monthly installments, often at 0% interest.
Choose from 3, 6, or 12-month terms with a minimum spend of PHP3,000. To maximize approval, transact with accredited merchants and keep your card usage within recommended limits.
Eligibility:
- All Security Bank Mastercard credit cardholders, except those holding the Security Bank Corporate and Next Titanium Mastercard, who are in good standing, are eligible to avail of the Pay in Installments option.
These installment and payment services offer financial flexibility, allowing you to manage your expenses and plan ahead easily. To determine the most suitable choice for your business, let’s understand the difference between Cash Advance and Installment Options.
Difference Between Cash Advance and Installment Options
The key difference between cash advance and installment options lies in how the funds are accessed and repaid:
Cash Advance
- Immediate Access to Funds: A Cash Advance allows you to withdraw cash from your credit card, either from an ATM or over-the-counter at a branch. It's typically used for urgent or unexpected expenses.
- Repayment Terms: Cash Advances accrue interest immediately from the day of the transaction and are added to your credit card balance. Unlike standard purchases, they typically do not have a grace period and are subject to higher interest rates and finance charges. The amount is repaid according to your credit card's regular payment schedule.
- Fees: Cash Advances often come with a fee (e.g., PHP 200 or USD 4 per transaction) in addition to interest charges.
- Usage: Ideal for emergencies when you need immediate cash access.
Installment Options
- Flexible Payments: Installment options allow you to convert large purchases into manageable monthly payments. This includes options like ChargeLight or SimplyPay, which break down your purchases into easy-to-manage terms, usually ranging from 3 to 24 months.
- Repayment Terms: These options come with fixed, lower monthly payments, often at a lower interest rate than a Cash Advance. You can choose a repayment term that suits your budget.
- Fees: Installment plans typically have a lower fee structure than Cash Advances, and the interest rates are often more manageable. Depending on the option, there may be an add-on rate or a monthly processing fee.
- Usage: Best suited for purchases such as electronics, travel, or higher-value items that you want to pay off gradually.
In summary, Cash Advances are a quick way to access cash but come with higher fees and immediate repayment terms, while Installment Options offer more flexibility with purchases and a more manageable repayment schedule over a longer term.
Expanding Your Financing Options with n90
While Security Bank’s cash advance and installment services are helpful for managing day-to-day business expenses, some financial needs call for a more tailored, flexible approach.
At n90, we’re committed to helping you in the Philippines access fast, fair, and flexible financing designed around your unique challenges, not bank restrictions. Whether you're handling cash flow gaps, planning a big move, or waiting on delayed payments, we offer solutions that keep your business running smoothly.
Here’s how we support you:
- Bridge Loans: Get quick short-term funding to cover urgent expenses, restock inventory, or seize growth opportunities without delay.
- Small Business Loans: Flexible, secure loans with weekly or monthly repayments, ideal for scaling operations, hiring staff, or managing everyday expenses.
- Invoice Factoring: A financing solution that converts your outstanding invoices into immediate cash, improving liquidity. It provides a reusable line of credit based on your accounts receivable.
By partnering with n90, you can benefit from accessible financing solutions that address your specific challenges.
Conclusion
Security Bank offers a solid foundation for managing SME finances, with tools like cash advances and installment plans that simplify daily operations and short-term funding. But as your business grows, so do your financial needs.
At n90, we specialize in financing solutions built around the challenges SMEs like yours face. Whether you need short-term bridge loans, invoice factoring, or flexible repayment options, our goal is simple: to help you manage uncertainty, access capital fast, and grow with confidence.
Get in touch with us to see how n90 can complement your existing banking tools and give your business the financial edge it deserves.
