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7 of the Top Digital Banks in the Philippines with the Most Secured Mobile Banking Transactions

Safety should be a top priority when mobile banking in the Philippines

By: Mira Maestrecampo | August 31, 2022
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digital banks in the Philippines, mobile banking in the Philippines, safest digital banks

Digital banks help you manage your money for easy transactions and more convenient ways to pay.

Images: Pexels (L); Unsplash (R)

The Philippines is still living in an uncertain era of the post-pandemic. The country’s development of transition to mobile banking in the Philippines is significant in the growth and development of the economy, digital services, and the finance and banking sector. Digital banks in the Philippines and mobile banking are one of the technological benefits that have emerged and grown in the new normal circumstance of restricted, now minimized physical contact. When using mobile banking in the Philippines, knowing the safest digital banks to use for your transactions is a must.

Digital banks in the Philippines have been slower to adapt to the digital banking world than most other Asian countries. Yet, digital banks in the Philippines have still succeeded in addressing the concern of consumers in completing banking and payment transactions wherever they may be, with just taps and clicks on their mobile phones. Mobile banking in the Philippines has been established to be accessible now, offering convenience and perks while using digital banking apps, with the safest digital bank security of your money and online banking in mind.

Here are the top seven digital banks in the Philippines with guaranteed the safest digital bank security to ease your payments and transactions and help you in your daily banking needs.


1. Bank of the Philippine Islands (BPI)

Website: https://www.bpi.com.ph


Digital Banks in the Philippines – Mobile Banking in the Philippines, digital banks in the Philippines

BPI Mobile is one of the Philippines’ most commonly used digital banking apps.

Images: BPI Facebook page

The Bank of the Philippine Islands, commonly known as BPI, is currently the fourth largest bank in the country regarding assets. BPI’s Online Banking has been one of the most frequently used digital banks in the Philippines, with BPI Mobile ranking third among financial apps and first among other applications of mobile banking in the Philippines.

BPI established the use of digital banking in the Philippines to help its clients go digital when making their transactions without the need to go to a physical bank. BPI may have been prone to phishing scams way back years ahead. Yet the bank continued to improve its banking services and is now recalibrated to the safest digital banking, strengthening its encryptions and mobile banking security features.


2. DiskarTech by RCBC

Website: https://diskartech.ph/


Digital Banks in the Philippines – Mobile Banking in the Philippines, mobile banking in the Philippines

DiskarTech offers a convenient and fun way of banking, along with their Taglish (Tagalog-English) inclusion in their digital banking app.

Image: DiskarTech Facebook page

DiskarTech is a digital banking app in the Philippines powered by Rizal Commercial Banking Corporation or RCBC. This mobile banking app in the Philippines lets you enroll in an account that allows you to withdraw and deposit money through its partner channels. DiskarTech by RCBC emerged as one of the pioneers of mobile banking in the Philippines and quickly gained as one of the consumers’ trusted, safest digital banks concerning its security. Another feature of the digital banking app is the combined Taglish or Tagalog and English languages, making the mobile banking app easier to understand.

DiskarTech was launched last July 2020 to provide digital and online banking services to the unbanked Filipino population. Consumers can ensure the app’s security since it is regulated by the Bangko Sentral ng Pilipinas (BSP) and insured by the Philippine Deposit Insurance Corporation (PDIC).

This digital and mobile banking app is possibly the most accessible. Though this mobile bank in the Philippines is not that big and famous among the standard Filipino population, it is still developed. It remains competitive among other digital banks in the Philippines, slowly gaining its well-deserved popularity.


3. Metrobank

Website: https://www.metrobank.com.ph/home


Digital Banks in the Philippines – Mobile Banking in the Philippines, safest digital banks

Metrobank takes care of its clients by giving tips on fighting scams and frauds.

Images: Metrobank Facebook page

Popularly known as Metrobank, the Metropolitan Bank and Trust Company rank as the second-largest bank in the country, providing a wide array of banking options and services to Filipinos, including mobile banking in the Philippines. Metrobank’s digital banking app in the Philippines has received high average ratings in app stores, establishing it as a convenient and safest digital bank.

With Metrobank, you can guarantee that this is one of the safest digital banks in the Philippines to secure your money and finances, even though you are just using their digital banking app. Metrobank’s Mobile Banking security features include an OTP or one-time pin for every new device used in certain mobile transactions. Metrobank has also received prestigious awards such as Best Domestic Private Bank and Strongest Bank in the Philippines by Asian Bankers Pioneering with the most credible annual ranking analysis.



4. Tonik Digital Bank

Website: https://tonikbank.com/


Digital Banks in the Philippines – Mobile Banking in the Philippines, mobile banking in the Philippines

Tonik is one of the most secured digital banks established in the Philippines, and many reviews and claims can attest to such.

Images: Tonik Facebook page

Though physical banks have shifted to the world of digital banking, so are new and also trusted digital banks. As digital banks in the Philippines emerge in the local market, so are new digital banks like Tonik. This digital bank is among the pioneering neobanks to start its operations in the Philippines, which allows its clients and Filipino consumers to monitor their finances with just a mobile phone. Tonik is the best option if you want a digital bank in the Philippines with a highly secured and safest digital bank platform.

Tonik, being the first neobank in the country, sets itself a high standard regarding leading in innovation. Tonik also has become a competitive digital bank in the Philippines because it focuses on serving its clients and addresses customer needs by providing the safest digital banking technologies. Tonik also guarantees security among its consumers. This mobile bank in the Philippines is officially the country’s first challenger to receive a Digital Bank License from the Bangko Sentral ng Pilipinas (BSP), with all financial deposits insured by the Philippine Deposit Insurance Corporation or PDIC. Besides the digital app, Tonik also features a physical debit card and virtual cards. On the flip side, Tonik does not have a physical branch and is more focused on going as a digital bank in the Philippines; that is why Tonik is easily accessed through app stores and can be installed on your mobile phones. Tonik is available for both iOS and Android mobile phones.

Tonik also targets the unbanked Filipino population, tagging itself as the “Rolls Royce of Security” in digital and mobile banking in the Philippines. This Singapore-based bank ensures secure, convenient, and fast transactions covering almost all financial concerns such as payments, loans, deposits, withdrawals, and current accounts.


5. Security Bank Corporation

Website: https://www.securitybank.com/


Digital Banks in the Philippines – Mobile Banking in the Philippines, safest digital banks

Security Bank stays true to its name by providing you with secure online and digital banking.

Images: Security Bank Facebook page

Security Bank is among the few traditional banks that offer a digital bank in the Philippines, such as online-only savings accounts in the country. It highlights two of its best services: the Online Account Application and the Human Switch Kit, which helps consumers make accounts faster and more conveniently. Like other physical banks, Security Bank has also recalibrated mobile banking in the Philippines and bagged the Best Digital Bank Award from Capital Finance International in 2017.

Suppose you’re talking about the safest digital banks. In that case, Security Bank’s online and digital bank has security features, including a quick login through fingerprint authentication, lock or unlock ATM and PIN, and eGiveCash for sending money through SMS.



6. EON by Union Bank

Website: https://www.eonbankph.com/


Digital Banks in the Philippines – Mobile Banking in the Philippines, mobile banking in the Philippines

EON by Union Bank lets you go cashless with any of your transactions through their digital banking app.

Images: EON PH Facebook page

With all the new and emerging digital banks, EON by Union Bank of the Philippines has also become one of the pioneering all-digital banks in the Philippines. Consumers can easily access their accounts and manage their finances by installing the official Union Bank EON app or by accessing the official EON Union Bank website. With this mobile banking app, you can quickly transfer your money to another EON, Union Bank, or another account in another bank. Once you have created and applied for an account in EON, you can withdraw from any ATM, access real-time fund transfers from your PayPal account, and conveniently pay your bills online or via the EON app.


7. ING Digital Bank

Website: https://ing.com.ph/


Digital Banks in the Philippines – Mobile Banking in the Philippines, safest digital banks

ING Pay lets you digitally control and manage your finances with utmost security.

Images: ING Philippines Facebook page

ING Pay is one of the safest and most secure ways to pay, launching its first digital bank last 2018. This Dutch international digital bank started its operations in the Philippines way back in 1990 as a wholesale lender and is now among the top digital banks in the Philippines to get covered by the Philippine Deposit Insurance Corporation or PDIC. As a universal bank, ING is regulated by the Bangko Sentral ng Pilipinas, making it reputable. This mobile bank in the Philippines gains trust from its clients and consumers, knowing that their money is secured through ING’s mobile banking; amongst the other digital banks in the Philippines, they are also one of the safest digital banks.

ING Pay also has the most flexible features and functions that adjust to the different lifestyles of every Filipino. With this mobile bank in the Philippines, you can conveniently pay your bills to more than 80 merchants, including credit cards, billers, and insurance companies. You can also securely transfer money through InstaPay without additional banking charges. Opening a digital account with ING is also free, with no minimum balance. This is one of the highlights and features that makes ING Pay stand out from other digital banks in the Philippines since it does not charge any fees for any digital transactions, and you can digitally pay your bills with no extra charges.


As online and mobile banking in the Philippines now becomes prevalent, security in digital banking and transacting online is always on top of the minds of every Filipino. Traditional and physical banks have also adapted and kept up with the latest developments to serve their clients well, giving them access to easy and convenient ways of banking. With the growing number of new digital banks in the Philippines, it is best recommended to research the bank’s company or corporation well. Study its credibility, assess its mobile banking security features, and determine the best and safest digital bank to fit your lifestyle, financial needs, and capabilities.


Visit Yoorekka Magazine for more consumer news, guides, tips, and trends in the Philippines!


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About Mira Maestrecampo
Mira - with a long surname - is a girl who dreams of becoming a news anchor someday, in God's perfect time. She loves to read books and eat different kinds of cheesy or saucy food. A coffee addict and a dog lover, she loves long hugs, hot coffee on an afternoon break with friends, or simply sleeping all day with her stuffed unicorns.
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Disclaimer: All articles in the Consumers Magazine of Yoorekka are for general information and entertainment purposes only. Although careful research has been made in writing them, Yoorekka does not make any warranty about the completeness and accuracy of all information presented in our articles. Our content is not intended to be used in place of legal, medical, or any professional advice.
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