Guidelines on Deposit and Cash Servicing Outside of Bank Premises, Office of the Governor Circular No. 940, Bangko Sentral ng Pilipinas

The Circular permits banks to accredit third party service providers who can perform cash/check pick-up and/or cash delivery services on their behalf, or contract third party entities as cash agents to accept and disburse cash on the bank's behalf. When utilizing cash agents, a bank should adopt an electronic banking solution to implement its cash agent operations. Examples of these cash agents refer to small sari-sari stores, convenience stores, supermarkets, pharmacies and pawnshops which could provide basic banking services. The bank assumes full responsibility and liability for all acts and omissions of its cash agents on bank-related services.