Banking and financial services company EastWest Bank, in partnership with global payments technology company Visa, introduced BizAccess, a business banking solution that aims to help small and medium enterprises (SMEs) manage their finances more efficiently. The product combines a checking account, debit card, and digital tools to make financial management more convenient for business owners.
With SMEs accounting for 99% of businesses in the Philippines, EastWest said it developed BizAccess to address the common challenges entrepreneurs face in separating personal and business funds, tracking expenses, and keeping financial transactions organized.
“BizAccess goes beyond being a debit card,” said Jerry Ngo, CEO of EastWest. “It’s a business partner that helps entrepreneurs manage finances easily, securely, and confidently, so they can focus on what matters most: growing their business.”
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EastWest BizAccess Visa Debit Card allows business owners to make secure payments, purchases, and supplier transactions. Companies can issue up to 10 cards for employees, enabling centralized monitoring of expenses within one account.
The card also comes with travel accident insurance, real-time transaction notifications, and access to Visa’s exclusive rewards and promotions. EastWest is offering waived over-the-counter deposit and withdrawal fees and a welcome incentive for new users.
Linked to the debit card is the BizAccess Checking Account, which requires a maintaining balance of ₱25,000. Account holders can manage their funds through the EasyBiz Online Business Banking platform, where they can monitor balances, transfer money, pay suppliers, and manage cash flow.
EasyBiz also provides access to government payment services through eGov and supports corporate bill payments. Cardholders can use the platform to lock or unlock their cards instantly, adding another layer of security to their transactions.
“Visa is delighted to partner with EastWest in empowering Filipino entrepreneurs,” said Sid Bada, head of clients of Visa Philippines. “With BizAccess, SMEs gain access to trusted and convenient payment solutions that simplify how they operate while also opening opportunities to participate in Visa’s global network of offers and rewards designed to help businesses grow.”
Entrepreneurs can now apply for the BizAccess Visa Debit Card and Checking Account at any EastWest Store nationwide or through the EasyBiz online platform.