FAQs | Right Choice Finance

General

Is it secure?

Yes. Right Choice Finance has partnered with PayNet, a trusted name that uses the highest security and encryption level when handling your information and transactions. Your account information will never be revealed or be visible to other Right Choice Finance or Paynet members. Your information will never be shared except with your expressed permission or if we are required to do so pursuant to a court order or other legal process. These advanced security measures assure members that data integrity and privacy are held to the highest standards in compliance with banking and regulatory requirements for worry-free transactions.

Who can sign up?

Any individual 13 years of age and over can sign up and create an account with us. Additional requirements might also be requested for those below 18 when validating the account. Those below 18 years old may sign up for an account but will require parental consent when requesting for a card and will not be eligible to apply for a loan.

Why do I have to Verify?

Your account can become a key component of your finances and our user’s security is our number one priority. Before we can unlock access to our full suite of features, we need to make sure you are you. A verified account means you have completed all required information including submission of two valid government- issued IDs and/or proof of billing. You can see status of your account (‘Verified’ or ‘Unverified’) on your profile.

Who do I ask if I have a problem?

Customer support is provided during the hours of 9am and 5pm Monday to Friday. We will continuously monitor request volume and our customers needs to evaluate if extended hours are necessary. All questions should be raised to support@rightchoicefinance.ph.

Withdrawal

How can I withdrawal funds from my RCF account?

To withdraw funds from your RCF account, go to the myAccount tab. Select ‘myWithdrawal’ and choose whether to convert your funds via inter-bank fund transfer or in-store (coming soon). You may also choose to convert your funds to pay for bills, buy prepaid load, or load your Prepaid MasterCard

How can I withdrawal funds from my bank account?

1. To withdraw funds via bank account, go to the myAccount tab, click ‘myWithdrawal’, and then select ‘Bank Account’ option.

2. Choose your preferred bank from the drop-down list.

3. Enter your account number, amount to transfer, include an optional message if you wish, and then click ‘Withdraw’.

4. Funds will be transferred to your bank account in minutes (BancNet) or depending on your bank’s processing timeframe. However, if your bank is not on BancNet it can take up to an entire business day to process the transaction.

How much can I withdrawal from my e-wallet into my bank account?

When your account is created it has a limit of ₱20,000 in single day transfers/withdrawals and ₱100,000 in a single month. This can be adjusted through a special request form submitted to support@rightchoicefinance.ph.

What if the funds were not transferred to my bank account?

If the funds were not transferred to your bank account, email us at support@rightchoicefinance.ph with a screenshot of your bank account details showing that no credits have occurred during the date of transaction. We will investigate this matter immediately.

Requesting Funds

What is the request funds feature?

The ‘Request’ feature allows RCF members to request funds or payment from other RCF or PayNet members. You can also request funds as an allowance, remittance, payment, or as a gift. You can request funds from any RCF or PayNet member listed on your contact list. Simply add a RCF member to your contact list if they aren’t yet on the list.

When will the requestor receive funds?

The funds will be credited once the person you sent the request to confirms the transaction. The requestor will be notified through email once the funds have been transferred

How can I request funds?

On your dashboard, click ‘Request’. Select the email address of the person whom you would like to request funds from. Enter the amount you wish to receive and click ‘Request’. Click ‘Confirm’ to proceed.

Send Funds

Can I send funds to a non-RCF member?

Yes, RCF allows you to send money even to non-RCF members by sending it via eGC or eGiveCash. Recipients can retrieve cash sent to them even without a card at any Security Bank or Security Bank Savings ATM by entering the passcode sent through SMS by sender.


What is the maximum amount I can send per day?

For RCF to RCF transfers, you can send up to PHP20,000 per transaction. For eGC transfers, you can send a minimum amount of PHP500 and a maximum amount of PHP10,000 per transaction. Should you wish to increase your daily cash out limit, please make a special request by emailing support@rightchoicefinance.ph.

How do I send money to someone via cardless ATM?

To send funds to someone via ATM:

1. Go to My Network tab and select ‘mySend’. Choose the ‘To Cardless ATM Withdrawl’ option.

2. Enter amount to send (minimum amount is PHP500). Corresponding transaction fee will be shown before you initiate the transfer.

3. Enter recipient’s name, email address (optional), and mobile number

4. Click ‘Send’ to proceed.

5. Click ‘Confirm’ to complete transaction.

6. An SMS with the passcode and transaction details will be sent to the recipient to enable him/her to withdraw the cash.

To receive funds from someone via cardless ATM withdrawal

1. Go to any Security Bank or Security Bank Savings ATM. Press Enter and follow the next instructions

2. Key in the 16-digit eGC number, eGC passcode, and amount of transaction sent via SMS by sender.

3. Wait for the ATM to dispense the cash and transaction slip.

Recipient must withdraw cash or use the eGC within a period of 14 days from date of purchase or creation. Otherwise, the eGC expires and is automatically cancelled.

Prepaid Mastercard

Who is eligible for a RCF prepaid Mastercard?

Any individual of legal age (18 years old and above) who has a RCF account and has completed the KYC requirements can request for a RCF Prepaid MasterCard. However, minors (13 to 17 years old) are allowed to apply for a card as long as their parents or guardians have signed the consent form and are RCF cardholders.

How does my Prepaid Mastercard Work?

Your prepaid Mastercard integrates with your E-Wallet account. You can load your card directly from your dashboard and use it to get cash and shop online and in stores. It is lined to the Security Bank network which currently has in excess of 300 ATMs throughout the Philippines. To load your Mastercard from your E-wallet, first ensure your RCF account has sufficient funds to transfer your desired amount to your card.

You can load your prepaid card through the dashboard or via SMS. To load your prepaid card via the RCF dashboard:

1. Click ‘Load Card’ on your dashboard.

2. Select ‘Load myMasterCard’.

3. Enter Amount you wish to load. Fee will be reflected accordingly.

4. Click ‘Load Card’ to proceed.

5. Click ‘Confirm’ to complete the transfer. To load prepaid card via SMS:

- Globe subscribers - Type ‘LOAD [amount to transfer] PHP’ and send to 0917.798.1111
- Smart, Sun & TNT Subscribers – Type ‘LOAD [Amount to transfer] PHP’ and send to 0999.998.1111
- Example: LOAD 100 PHP

You will be notified of the successful transfer immediately. Loading your card costs 11PHP, loading someone else's card costs 21PHP.

RCF Wallet

Is there a fee to apply for a loan?

It is free to apply for any loan. If we approve your loan and you accept it we will deduct a processing fee from the principal disbursed to you.

Is refinancing available?

Yes! Most of our customers refinance with us and by taking advantage of RCL Rewards your refinancing can be at lower interest rates and higher loan amounts.

How much can I borrow?

Our minimum loan amount is 20,000Php and our maximum is 5,000,000Php. The specific amount you are eligible to borrow will depend on your loan application details and our credit review process.

What if I don’t have a comaker?

If you don’t have a family member or friend who is willing to be a comaker it greatly impacts your credit review. We generally do not approve any applicants without a comaker. However, if you provide collateral such as property or a vehicle we may consider your application without a comaker, subject to our applicant review process.

What happens if I am unable to make a payment?

Your loan repayment is a legally binding agreement that you must honor. If you have an issue to make a payment on time you need to contact us before the payment due date so we can work with you on your payment schedule. In accordance with our loan agreement, additional penalty fees and charges apply to all missed payments.


Why are my funds deposited into my e-wallet instead of a check?

We believe in creating a fast, efficient and safe application process for our customers. This is why we have committed to disbursing into E-wallets for all BancNet customers. This enables all of our customers to have access to the full suite of services the E-Wallet provides (Transfers, Bill Pay etc.). If you wish to immediately deposit into your bank account this can be done safely and securely directly from your account.

What additional documentation is required from the information I submitted to verify my account?

As part of your continued maintenance of your RCF e-wallet account your two forms of personal identification should already be up to date. All additional items required are standard within the industry and must reflect the period between 3 to 6 months before the loan is provided.

1. Bank Statements for the previous three months

2. Checks issued for the previous six months

3. Proof of address - please provide two billing statements to your address (must match ID) that were issued within previous month.

4. Previous three months pay slips.

5. Previous years income tax return
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