I used to keep all my money in just one bank account. It was simple, but I wasn't maximizing the benefits that different banks offer.
With the rise of digital banking in the Philippines, managing money has become easier than ever. Instead of spending hours going to a physical bank, waiting in line, and paying transfer fees, I can now do almost everything from my phone whether I'm at home, at a coffee shop, or traveling.
Today, I use several digital banks, and each one serves a specific purpose. Some are great for free transfers, others offer higher interest rates, and some help me organize my savings goals.
In this article, I'll share the digital banks that I personally use, why I use them, and how I maximize their features. Hopefully, this will help you decide which digital bank fits your own financial needs.
| DIGITAL BANK |
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| CIMB |
2.30% interest p.a.
This is where I usually move my funds from my GCash account. Since I receive payments from my business and sometimes from relatives through GCash, I transfer the money to CIMB and then send it to other banks for free.
Why? Because transferring directly from GCash to another bank usually comes with a fee. Using CIMB helps me avoid those charges, which may seem small at first but can add up over time.
What I use it for:
- - Receiving funds from GCash
- - Free bank transfers
- - Temporary storage of funds before moving them elsewhere
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Free transfers from GCash |
Maribank
(formerly SeaBank) |
3.75% interest p.a.
MariBank offers a higher interest rate than some of the other digital banks I use, which is why I keep a portion of my funds here.
I usually set aside money for my credit card bills and utilities in this account. While waiting for the due date, my money continues to earn interest. I also like that transfers to other banks are free and the interest is credited daily, which is satisfying to watch grow little by little.
Want to know how much you'll earn?
Try our MariBank Compound Interest Calculator to estimate your daily interest and total earnings.
https://www.web4pps.com/webapps/seabank-calculator-with-compound-interest
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Bills and short-term savings |
Maya
 |
3.0% ~ 15% interest p.a.
This is where I put some of my savings since I can earn up to 15% p.a. (Maya currently offers additional interest boost of up to 15% for eligible transactions)
I do the task monthly, and I usually earn 10% p.a. The boost resets every month, so I have to do the task on the first day of the month to boost the interest rate.
It takes a little effort every month, but I think the extra interest is worth it. :D I'll share my favorite Maya hack in another post, if you'd like.
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High-interest savings
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GoTyme
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3.0% interest p.a.
What I really like about GoTyme is how it helps me separate my savings goals. Instead of having one large savings account, I can create different GoSave accounts, such as:
- Emergency Fund
- Travel Fund
- Dream House
- Car Fund
This makes saving feel more organized and motivating.
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Savings goals
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| Tonik |
A portion of my long-term savings is in Tonik's Time Deposit. I prefer keeping money here that I don't plan to use anytime soon because the interest rate is higher than a regular savings account.
Last April 2026, I was fortunate enough to lock in their promotional 8% p.a. rate for a 12-month term, which was one of the reasons I chose Tonik for my long-term savings. |
Time deposits and long-term savings |
Disclaimer: This article is based on my personal experience and is not financial advice. Interest rates, promotions, and features may change over time, so it's always a good idea to check the official websites before opening an account or making any financial decisions.
All of the digital banks mentioned in this article are regulated by the Bangko Sentral ng Pilipinas (BSP) and are members of the Philippine Deposit Insurance Corporation (PDIC), which provides deposit insurance up to 1 million per depositor. This gives me added confidence in entrusting a portion of my hard-earned money to these institutions.
I hope this article gave you some ideas on how you can use different digital banks to manage your finances more efficiently. If you have any questions or would like to share your own experience with digital banking, feel free to leave a comment below!
Philippine Deposit Insurance Corporation Official Website
Bangko Sentral ng Pilipinas Financial Stability - Directories and Lists
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