Online Banking in the Philippines

How Technology and the Web Revolutionized Banking in the Philippines

Many banks nowadays allow transactions to be done online including balance transfers, account inquiry, bills payment and a host of other transactions that was previously conducted through face-to-face interface with a bank’s teller. Revolutionizing the face of banking is made possible through the web and the continued online presence of the country’s top commercial banks. Gone were the days when the only way to do banking business is by lining up and spending time and gas going to the bank withing the normal banking hours of 9-3. Nowadays, one can take charge of your banking needs right in your home with the use of a computer connected to the web 24/7.

Bank clients can now easily pay their bills without leaving their homes and this was made possible with the banks secure online payment channels. Some banks even allow checkbook ordering, opening of additional accounts, ATM card replacements and mobile phone credit loading without the inconvenience of lining up in the bank. This has provided more flexibility in money transfers and clients save time and money. In addition, these same bank transactions can be done over the phone or thru SMS messaging.

The following are some of the biggest banks in the Philippines which provide online access an d allow basic services to be done online, not limited to balance transfer, bills payment, and e-commerce payment: Bank of the Philippine islands (BPI), Banco de Oro (BDO), Land Bank of the Philippines (LBP), Union Bank, East West Bank and many others.

Bank at every corner

The Philippines is also known as the shopping capital in Asia due to the big malls everywhere. Banks are not far behind, anyone can do their banking transactions while shopping in the mall. There are even small bank kiosks which allow simple transactions to the delight of clients who don't have much time to spend.

For the most part of the last century, banking hours in the Philippines is normally 9-3pm, and one has to do banking transactions earlier to avoid the long waiting lines in the bank. With the increasing demand and the advent of available technology, banks became more competitive and offer services to maintain clients and attract more, hence the availability of more convenient modes of doing bank transactions. Some banks are even open during Saturdays and Sundays.Banking has never been this convenient and fast. 

One may inquire with their respective banks to learn about online banking services they offer. The following sites may be of help for more information on online banking in the country.

• Bank of the Philippine Islands 
• Banco de Oro
• UnionBank
• East West Bank
• Land Bank of the Philippines
• Metrobank