Bakit kailangan magbukas ng Savings Account? link: here.
Napansin ko na maraming tumitingin ng tungkol sa savings back na posts ko. Nilagay ko 'to dito almost ten years ago and thanks, everyone for continuously accessing them but we now have better options if we're talking about the interest that our money will gain while deposited. Unfortunately, I wasn't able to keep the two banks accounts that I wrote about before and stuck with BDO because there's a branch a few blocks away from home making it the most convenient bank for me at the moment. And well, my credit card is still with BDO so yeah.
While the information in this post are still relevant since, I made the switch and here's my review of two Digital Banks here in the Philippines.
Anyway, I got one to be safe.
Requirements:
I.D
P 100.00 Prepaid Card Fee
Initial Deposit
Requirements:
I.D
P 100.00 Prepaid Card Fee
Initial Deposit
Prepaid Cards aren't your regular Savings Account meaning the money "loaded" in it won't earn interest. Find out more about Prepaid Cards, Debit Cards and Credit Cards: here.
2. I got my BDO Cash Card more than a year ago for the same purpose actually. I needed a card which I can just reload everytime I go out because it's really a risk to carry my ATM card all the time. Yes, it's safer to carry around an ATM card compared to having cash but the fact that all my money in my savings account is always within my reach makes it unsafe for impulsive buys and gluttonous cravings which are the two most dangerous things on Earth.
EWB's Prepaid Card or BDO's Cash Card?
EWB's carry a VISA logo which makes it better because of the variety of establishments and online merchants who accept VISA card. Mas marami talagang tumatanggap ng VISA compared sa BDO Cash Card na Megalink lang ang nakalagay.
EWB's carry a VISA logo which makes it better because of the variety of establishments and online merchants who accept VISA card. Mas marami talagang tumatanggap ng VISA compared sa BDO Cash Card na Megalink lang ang nakalagay.
For this, EWB's Prepaid Card wins.
For online transactions, of course, EWB's Prepaid Card wins.
Nga pala, for all VISA cardholders, are you aware of this promo wherein you get a P 100.00 gift certificate when you buy worth P 1,500.00 in any SM Stores? More info: here.
And that Eastwest Bank has a raffle wherein Ipad Mini is at stake when you reload and purchase something using your EWB's Prepaid Card? More info: here.
We should maximize offers like these because they give our money "more purchasing power". Gagastos ka lang naman din, dun ka na sa may chance na babalik sa'yo, diba?
BDO Cash Card is reloadable using their online banking but you can only reload EWB's Prepaid Card over-the-counter. At dito na sila nagkatalo. I'd stick with my Cash Card because of the online banking feature. The main reason why I use Prepaid Card is to reload the money I need for the day and this isn't at all possible yet for EWB's Prepaid Card. Yet nilagay ko kasi baka magbago sila ng isip. hahaha! It's a hassle to go to the bank to deposit money everytime you need to use the card, isn't it? Andun talaga 'yung convenience of reloading via online fund transfer lang eh saka online banking feature enables you to check how much money a card has free of charge unlike going to the nearest ATM. You'd pay not only for the service fee of the bank but for transportation costs as well.
For convenience, BDO Cash Card wins.
Kung hindi tinatanggap ang Cash Card sa establishment na pupuntahan mo, edi i-withdraw muna ang pera.
Kung hindi tinatanggap ang Cash Card sa establishment na pupuntahan mo, edi i-withdraw muna ang pera.
Now that I think of it, I should have opened another Basic Savings Account na lang because account to account online fund transfer is possible. If only Eastwest Bank can add Prepaid Card Reload in their online banking transactions, that would be great.