We’ve all had to adjust to the new normal brought about by COVID-19. Day to day life has changed and the simplest of errands are now a challenge to do. One example is going to the bank for transactions. Going out of the house to conduct transactions doesn’t seem worth it as it will expose us to risks and unnecessary contact with strangers.
Looking for alternatives to do banking? Look no longer because here are some banking transactions you can do from the safety of your home:
Mobile Check Deposit
Depositing a check usually requires customers to go to a bank branch. However, financial technology is picking up steam in the Philippines and one innovation that has reached us is the mobile check deposit. No longer do you have to go to a bank branch because you simply need to capture your check details using your phone’s camera and you’re good to go.
Some of the banks offering mobile check deposit include ING Philippines, PSBank, UnionBank, and RCBC.
Mobile Wallet
A mobile wallet is literally a digital version of your wallet. It enables you to receive and transfer money simply with your mobile phone. It’s also connected to other banks so you don’t have to worry about over the counter payments anymore.
GCash is a mobile wallet you can use to pay bills and send or receive money.
Digital Onboarding
Digital onboarding lets you open a bank account entirely online or via mobile. Aside from removing the hassle of going to a bank branch, digital onboarding shortens the time it takes to open a bank account.
If you’re in need of a new bank account during this time, these banks let you sign up with them digitally: ING Philippines, CIMB Bank Philippines, UnionBank, and Maybank.
Online Loans
Taking out a loan isn’t as hard as it seems because now, you can do it online. If you need some quick cash, online loans are the solution because you don’t have to deal with numerous paperworks and unnecessary contact with strangers.
Asteria Lending, Blend PH, and Cash Mart are some of the online lending companies available in the Philippines.
Digital-Only Banking
If you really want all of your banking transactions to be digital, there are digital-only banks in the country. These banks allow you to bank at your convenience – anytime and anywhere – because all of your transactions can be conducted via your mobile device.
CIMB Bank Philippines and ING Philippines are digital-only banks.
