With the rising adoption rate, digital banking is replacing traditional banking systems very fast. Not only in Asia, but in all the other parts of the world, digital banking is becoming people’s first choice. However, in this particular section, we will discuss The 4 Digital Banks In The Philippines. Let’s understand the philippine’s system of digital banking here!

The Philippines, in the last few years, has witnessed the adoption of digital banking considering its adoption rate. Right now, there are six digital banks adopted by The Bangko Sentral ng Pilipinas (BSP): the Philippines’ central monetary authority. The list of these 4 Digital Banks In The Philippines is as follows:


Tonik is the first bank to get digital bank license from the Bangko Sentral ng Pilipinas (BSP). Also, users can access Tonik on its mobile application which is available in the Google play store.

On Tonik, a user can open 5 stash and 5-time deposit accounts. Also, on stash accounts, there are two varieties: personal and group. If you choose personal, you would be paying 4% per annum. But on choosing a group or adding other people to your account, you would save a decent and will be paid 4.5% collectively.

Tonik also issues debit cards to be asked at ATMs for free, however, is a little fee at a few ATMs. But, you would be paying for ordering a Tonik card, for sure.

If we talk about security, you would get face ID and lock screen options which will help you be secure from any outside excess.

UnionBank Online

UnionBank online is another one of the most popular and used digital-only banks which is a mixture of both online and offline banking services. Due to this, you would get offline branches available to get visited. Alongside, you find several other features as well, like other virtual banks here.

The services could be accessed through its application, websites, or by visiting its branches. It provides most of the accounts: Savings accounts, Checking accounts, direct deposits, etc.

In spite of it, the current interest rate for both personal savings and regular accounts is 0.10% per annum. You also get loan features here which are: home loans, quick loans, auto loans, etc.

Not it’s ended here, with all the perks and its quick mobility, it has been awarded for best digital bank three times in a row.

Overseas Filipino Bank (OFB)

Overseas Filipino Bank (OFB) is also known as the first digital bank in the Philippines. It was launched in 2018 by the subsidiary Landbank.

Compiled with every feature that a digital bank has, it provides loan features, transaction features, deposit saving features, etc.

Users can easily find OFB on the Google play store and the Apple store.


ING is a renowned digital bank that is popular not in the Philippines but in most of the other countries of the world, for instance, America, Europe, and Asia.

It facilitates users to pay bills, and make payments, instantly. Also, users can earn up to 2.5% p.a. as interests.

In addition to that, you can only open an account on ING if you are at least 18 years. The other requirements like documents should be there at the time of opening the account.

And, you get immense options to connect with a support team of ING. Either you can get them via ING mobile live chat or you can talk to them on Facebook messenger.

How to Choose a Digital Bank in The Philippines

The features of a digital bank depend on the physicality of the place. Therefore, understanding what you should be focusing on before choosing a bank is worth it. Here are a few things, that we have shortlisted, that is necessary to check.


Security is the main thing that should be analyzed before choosing any digital bank. It is important to keep your financial information safe, and that could only be possible if your chosen bank is providing security to your datum.


With every digital bank becoming available on phone, it’s necessary to be aware that your virtual bank is operational on its application. This is important as it helps in accessing your credentials with so much ease. Also, the operations could be done with so much ease.


With changing services and facilities, the fee is important to be considered. There are many banks that ask for fewer fees however returns are higher in terms of interests. Always be aware of fees and how to minimize them with fair practices.

Product offerings

Different mobile apps provide different financial products in which you should choose, what fits you!

Generally, product offerings are common for all with the addition of fewer options with that.

Final Take!

The 4 Digital Banks In The Philippines are what we have discussed in this post so far. Almost all the countries are moving towards being online in terms of adopting financial institutions and others as well. And, the reason is simple behind that. With everything being online, it gives easiness and variety of products at a place without wasting time or moving anywhere.

Now, comfort has become a priority, and these digital banks leaving no stones unturned for doing so.

Get a piece of full detailed information regarding The 4 Digital Banks In The Philippines here!

Good luck!