In the not-so-distant past, part of your weekly errands likely involved lining up at occasionally sketchy ATMs or blocking off an hour of your limited time for in-branch transactions. Fortunately, digital transformation has significantly changed the way Filipinos handle money—and for the better. These days, seldom does anyone still need to deal with bulky wallets and long queues, thanks to the real-time transfers and seamless payments we now enjoy over mobile digibank apps.
More than just offering convenience, the shift towards digital mobile banking is creating meaningful improvements to city dwellers’ quality of life. Whether you are using the services of a smaller financial institution or a large commercial bank, digital banking has been a game-changer that’s bringing freedom alongside new financial opportunities. As the Philippine population continues to urbanize, it’s worth exploring why digital banking has proven to be such a perfect fit for today’s urban Filipino lifestyles.
1. You Skip the Queues and Save Time
Visiting physical branches is one of the most time-consuming aspects of traditional banking. Not exactly ideal for busy urbanites who must make time for work, hours-long commutes, and personal errands.
Thankfully, with Maya, the #1 digital bank in the Philippines, you can open an account, transfer funds, or pay bills from anywhere with an internet connection. Instead of lining up at a bank for digital banking services, you can do whatever you need at home, or even while commuting, over the Maya app. You get to enjoy the country’s best digital bank services, wherever you happen to be.
2. Better Interest Rates than Traditional Accounts
For decades, savings accounts from traditional banks have seldom earned enough to keep up with yearly inflation. Digital banks like Maya have changed the landscape by offering significantly higher interest rates that effectively preserve your money’s buying power. Maya Savings, for instance, starts at 3.5% p.a. and lets you boost up to 15% p.a. when you use the app for everyday transactions like paying bills, shopping, or buying load. That makes Maya not just convenient but also the best digital bank for anyone serious about preserving and growing their wealth.
3. Accessible Financial Tools for Every Goal
Many urban Filipinos juggle multiple priorities, from side hustles and emergency funds to travel and gadget budgets. The old school way of managing this would be through opening separate bank accounts, which can be cumbersome in practice. Maya gives you a smarter way to do this with Maya Personal Goals, a feature within Maya Savings that lets you set up to five dedicated savings pockets. Each personal goal account earns up to 8% p.a. on balances of up to PHP 100,000, with tiered interest rates that start at 4% for the first PHP 20,000 and gradually increase up to 8% for amounts above PHP 80,000.
For bigger milestones, there’s also Maya Time Deposit Plus, an innovative take on the traditional time deposits. Unlike regular time deposits, Maya Time Deposit Plus lets you top up your fund, giving you a great place to park and grow your extra income. Even better, you can start with as little as PHP 5,000 and earn up to 6% p.a., depending on your chosen terms, topping up gradually until you reach your target. You can even create up to 5 active accounts at a time with a PHP 1 million balance each to better organize your big-ticket savings goals.
4. Seamless Everyday Payments
Cashless transactions are increasingly the norm all over the Philippines, and you want to make sure your digibank account easily facilitates QR Ph, online checkouts, and transfers to other bank accounts and e-wallets. With Maya Savings, you can easily facilitate all these payments and more. You even get a Maya Card that you can use to shop securely online and even at physical shops overseas.
5. Stronger Security and Peace of Mind
With digital transactions becoming more and more prevalent, your security should be at the very top of mind. Urban areas are especially rife with risks to your data and devices, which means you need a digital bank Philippine-based users can trust.
Given all that, you’ll be glad to know that Maya is a Bangko Sentral ng Pilipinas (BSP)-supervised financial institution (BSFI) that operates under the strict regulations of the Philippine national government. What’s more, Maya deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) for up to PHP 1,000,000 per depositor. Pair that with hi-tech features like fraud monitoring and a full selection of security controls on the Maya app, and you get protection that often exceeds that of traditional institutions.
6. Financial Services in One Ecosystem
Lastly, modern digital banks like Maya place everything you need under one roof. Where traditional systems often required multiple providers for payments, savings, loans, and credit, Maya makes things easier by including them all in one app.
The Maya app and the entire Maya ecosystem are both meticulously designed with your convenience in mind. From the main digital wallet and savings accounts to time deposits and simple loans via Maya Easy Credit and Maya Personal Loan, the Maya app lets you access all of these with just a few taps on your phone, no paperwork or hopping between apps required. Managing your finances is so easy, you can do it with one hand while you’re riding the MRT.
Let Maya Redefine Your Urban Lifestyle
City living is as exhilarating as everyday lifestyles get, but it demands speed, security, and lots of flexibility. Maya’s digital banking answers all three, even as it gives you real opportunities to grow your wealth through industry-leading interest rates and more. With Maya, the Philippines’ #1 digital bank, you get all the advantages of modern financial management in one secure yet easily navigable ecosystem.
So whether you’re setting aside savings for your first condo or simply looking for a better way to handle your everyday funding, it’s time to switch. Once you’re with Maya, you’ll experience digital banking that’s custom-fit for your vision of city life.
