Best Bank in the Philippines

As the fintech sphere is swiftly catching up with traditional banks, a new category of platforms has emerged, offering a hybrid approach that blends conventional banking with the convenience of instant money transfers. Enter Ogvio, a digital bank whose blockchain-based architecture gives it an edge in security, speed, and cost-effectiveness.

If most of your banking needs boil down to making online payments, Ogvio might very well be the best digital bank in the Philippines. You can send money to any of the 160+ supported countries and regions in their local currencies with just a few clicks. Thanks to Ogvio's integration with local instant payment railways, most transactions are instant and much cheaper than international wire transfers.

	OGVIO
Overall Score	9.8
Transaction Fees	Free-to-Low
Pricing Model	Per-transaction
Value For Money
Verdict	A global money transfer service with an additional volatile currency rate pegging to USD or EUR.
	Visit site Read review

Table: Ogvio features

What's more, user-to-user transfers on Ogvio are completely free, no matter how much you're sending and where. This app also supports making payment requests (either by generating a shareable link or directly in-app), which makes it perfect for everyday use cases like paying your friends back for lunch.

There are two main ways to pay for an Ogvio transfer: directly from your balance (after topping up your account first), or paying with a bank transfer, mobile wallet, or a credit/debit card as you go. Bank transfers require KYC verification, which is restricted in certain countries, but unverified users can still access all the other payment methods.

You can top up your account with any of the 40+ available currencies, but Ogvio will automatically peg your balance to USD or EUR (your choice) upon deposit: that way, the value of your funds will remain stable against unexpected inflation or market swings many local currencies are prone to.

Ogvio's unique infrastructure comes with another benefit: it's possibly the best bank in the Philippines for crypto enthusiasts. You can buy, trade, and sell 9 cryptocurrencies on the Base network directly on the app, and even cash it out as fiat without the hassle of manual conversion. For all intents and purposes, Ogvio can be used as a self-custodial crypto wallet alongside its main purpose as a money transfer service.

Founded in 1851, Bank of the Philippine Islands is the oldest bank not only in our country in question but all of Southeast Asia. As of writing this, it's the third largest bank in the Philippines by assets and the second largest one by market capitalization, boasting over 900 branches nationwide and abroad.

BPI offers three types of checking accounts: Regular Checking, Maxi One, and BizLink Checking. The first is a solid go-to option for your average customer. It requires an initial deposit and an ADB of PHP 10,000. In contrast, Maxi One functions as a two-in-one checking and savings account, with an annual interest rate of up to 0.0925%, but has a higher entry barrier, with a minimum deposit of PHP 25,000.

When it comes to actual savings accounts, BPI's lineup includes 9 types of accounts. Some of these, namely, Pamana Padala and Padala Moneyger, are tailored for remittances, while #MySaveUp is a digital savings account that can be opened with the GCash app. However, none of them include a high-yield option, so if you're looking for the best bank for a savings account, the Philippines has better alternatives.

As of January 2026, BPI's range of cards consists of only credit and debit cards; the bank discontinued its prepaid card line back in December 2024. You can choose between a Mastercard debit card, which supports withdrawals from any BancNet or Mastercard-affiliated ATM both in the Philippines and abroad, or an EVM debit card for cashless shopping in over 45,000 merchants nationwide.

BPI supports digital banking through an online platform and a mobile app. You can pay your bills online to over 600 providers (or use the QuickPay feature to pay them right away without having to enroll the biller), or link your BPI account to a mobile wallet. Some of the checking and savings accounts are fully digital, letting users open a new account online.

In addition, you'll find several types of financing products (loans for cars, motorcycles, housing, or personal purchases), a forex service, and a whole assortment of investment options, such as government securities, corporate bonds, equities, multi-asset funds, and shares.

Founded in 1916, the Philippine National Bank has over 700 domestic branches and more than 1,400 ATMs, as well as 70+ overseas branches and subsidiaries in Europe, Asia, North America, and the Middle East. It offers a well-rounded range of products in both personal and corporate banking, including several types of savings accounts, loans, and insurance.

PNB's Budget Checking Account is one of the best starter account options. It's a non-interest-bearing account that requires an initial deposit and a minimum balance of only PHP 5,000, making it an ideal account for low-income customers. The Regular Checking Account is a step-up, otherwise identical to the former, except for the higher initial deposit and minimum balance of PHP 10,000.

If you're looking for the best bank for a savings account, the Philippine National Bank really stands out for its accessibility. The Debit Savings Account has some of the lowest initial deposit and minimum balance requirements of only PHP 3,000 (although the minimum average daily balance to qualify for interest is PHP 10,000). The other three accounts cater to underage clients, pensioners, and passbook holders.

If you find most other banks' card choices too limiting, PNB is possibly the best bank in the Philippines in this regard. It offers a total of 20 credit, debit, and prepaid cards. PNB Ze-Lo Mastercard credit card is the one to go with if you don't want any annual fees, while the Cashback Titanium Mastercard has the highest cashback reward of up to 8%. Both prepaid cards have a top-up and balance limit of PHP 100,000.

PNB has a mobile banking app that lets you access virtually every feature available on the desktop web platform, plus a few more. You can use it to open a new bank account, transfer money between PNB accounts, other local banks, and eWallets, pay bills, or request money via QR code. It also includes a PNB branch and ATM locator.

When it comes to additional services, PNB's offerings aren't that extensive, but you'll still find a few types of loans and insurance packages. The Housing Loan covers purchases of up to PHP 750,000, while the Auto Loan covers up to 80% of the price of a new car, starting from PHP 300,000. PNB has Life and Non-Life Insurance, the latter including personal accidents and emergencies, other casualties, and car insurance.

The fourth largest bank in the Philippines in terms of total assets, Metrobank has 570+ branches in the country and 32 overseas offices. While best known for investment and premium banking (in 2023, it was voted as the best bank in the Philippines for ultra-high net worth clients), it's more than a solid pick for the average customer, as well.

Metrobank has two personal checking accounts: Regular Checking Account and Account One. The regular account is lower maintenance, only requiring an initial deposit of PHP 10,000, while Account One asks for a minimum of 25,000. The latter also offers a 0.0625% interest rate if your balance has at least PHP 50,000. Both accounts come with a passbook and a debit card.

For those wondering, "What is the best bank in the Philippines for a savings account?", Metrobank might not hit all the boxes, but it will certainly help you make up your mind. The website has a picker that lets you specify your needs and get recommendations. Most accounts offer roughly the same interest rate of ~0.0625%, but some require a lower initial deposit than others, starting from only PHP 2,000.

Metrobank has a modest selection of credit, debit, and prepaid cards. The Prime debit card has a maximum daily withdrawal limit of PHP 50,000 and can be used for contactless purchases worth up to PHP 2,000. Meanwhile, the prepaid card has a monthly balance limit of PHP 150,000 (this is a total limit for all the prepaid cards connected to the same account). The Cashback credit card offers 0.2-5% rebates.

Like most of the candidates on this list, Metrobank has a fully functional online banking platform and an online app. The online banking platform lets users make transfers through InstaPay or PESONet, top up their mobile phone data, and schedule or automate transactions, while the mobile app stands out for its Cash2Go feature: you can convert your available credit limit into cash and repay in installments.

On top of all that, Metrobank offers home, car, and personal loans, an integrated marketplace for cars and properties, and a number of other services. There are three types of insurance packages (health, life, and travel insurance) and a mix of investment products, including UITF and stocks.

Also known as BDO Unibank, Banco de Oro is a universal bank based in Mandaluyong. It has over 1,300 operating branches and more than 4,000 ATMs nationwide. It caters to private and corporate customers, as well as high-net-worth clients who require private banking services. Aside from checking and savings accounts, loans, and insurance, you'll also find a marketplace for real estate, vehicles, and machinery.

Banco de Oro offers two checking accounts: Peso Checking Account and Smart Checking Account. The first one is a non-interest account that requires a minimum initial deposit and maintenance balance of PHP 5,000. For the Smart Checking Account, you'll need a minimum deposit and balance of PHP 15,000 or PHP 25,000, if you want to take advantage of its 0.0625% annual interest rate.

As for savings accounts, you'll find six types. The US Dollar Savings Account is a great pick for non-resident Filipinos. Its $200 initial deposit requirement isn't too high, but the monthly average daily balance and the minimum balance to earn interest are higher at $500. PHP-based savings accounts are split into five options, including an Optimum Savings Account with tiered interest rates of up to 1.50%.

Banco de Oro's card collection is pretty extensive: aside from Visa, Mastercard, and UnionPay, you'll find a few other providers not offered by most other Filipino banks, such as American Express. The debit card has a withdrawal limit of up to PHP 200,000 per day and a maximum purchase limit of PHP 500,000. Both BDO credit and debit cards are eligible for various promos and discount deals for hotels worldwide.

This bank's mobile app lets users open and manage their accounts, keep track of their finances, and make several types of transactions. The mobile app comes with the QR code functionality as a way to deposit or withdraw money from cardless ATMs. One of BDO's most convenient features is the BDO Pay app you can use for in-store payments or quick money transfers, paying utility bills, or splitting the bill with friends.

Banco de Oro has four types of loans: Home, Auto, Multipurpose, and Personal, the latter offering an amount of up to PHP 2 Million and a flexible repayment system in 6, 12, 18, 24, or 36-month terms. In addition, there's a Life Insurance package, while the Non-Life Insurance options include travel, pet, vehicle, or medical insurance. The bank occasionally offers travel insurance promos for credit or debit cardholders.

What is the best digital bank in the Philippines? If you'd rather go with a local neobank than an international platform, GoTyme is definitely up there as one of the most attractive alternatives to traditional banks. It supports free and instant money transfers and remittances, and even rivals some conventional banks in its flexible high-yield savings and loan options.

Opening a GoTyme account online only takes about 5 minutes. Despite primarily operating as a digital bank, GoTyme also has physical kiosk locations in over 500 Filipino cities, where you can create a new account, print a debit card, or book an over-the-counter deposit or withdrawal. However, this bank has no web platform, only a mobile app.

Like most other digital banks, GoTyme offers 100% free internal transfers, but it goes a step beyond by extending free transfers outside its own ecosystem, as well. You get a monthly allowance of 20 free InstaPay transfers to any bank. After that, each transfer costs PHP 9. In addition, GoTyme supports QR Ph, the Philippines' QR code-based contactless payment system.

GoTyme's Visa debit card (available as a physical or virtual card) is the gateway to this neobank's extensive rewards system. You'll earn 1 point for every PHP 100 spent in any of GoTyme's 17 partner stores. Those points can be used to top up your mobile phone data or cover bank transfer fees, or be withdrawn as cash. Withdrawals from Visa-supported ATMs worldwide have no additional fees.

GoTyme allows opening up to 5 savings accounts with an annual interest rate of up to 4%, covered by the Philippine Deposit Insurance Corporation (PDIC) up to PHP 1 million per customer. You can set a target date for your savings goal and schedule automatic daily, weekly, or monthly deposits - or simply round up the price of purchases made with your debit card as a seamless way to accumulate some savings on the go.

This bank supports deposits through linked bank accounts, InstaPay, PESONet, or mobile wallets, and allows withdrawing the savings partially or in full. Meanwhile, crypto enthusiasts can check out GoTyme's crypto investment features, provided in partnership with the Philippines' central bank. As of writing this, GoTyme supports 11 cryptocurrencies, including BTC, ETH, SOL, XRP, and LTC.

If you're looking for the best digital bank, the Philippines has no shortage of options these days. As the first neobank to gain a digital banking license from the Philippines' central bank, Tonik has definitely earned one of the top spots in this category. It offers several types of savings "stashes", loans, free money transfers between other Tonik accounts - and, of course, a physical or virtual debit card.

Tonik's PESONet and InstaPay transactions cost around PHP 8, while QR Ph P2M and QR Ph P2B payments are free. Internal transfers have the benefit of a generous transaction cap: with a limit of PHP 1 million, you're unlikely to go over. PESONet transfers are capped at PHP 250,000, while InstaPay and QR Ph payments have a relatively low per-transaction limit of PHP 50,000.

The virtual Mastercard debit card comes free with your account, but a physical card (not yet available, but coming soon) will cost PHP 300. Users who only need a card for online purchases could make do with a virtual card, but it comes with a downside of a lower daily transaction limit of PHP 250,000. Meanwhile, the physical debit card has a much higher daily cap of PHP 450,000.

Tonik's savings accounts are called Stashes. You can open a maximum of 5 Stashes, opting for a Solo Stash for yourself or a Group Stash for joint savings (it needs at least 3 people, with no maximum member limit). The Solo Stash has a 4% annual interest rate, while the Group Stash offers a slightly higher 4.5% rate. However, only the creator of the Group Stash will be able to withdraw the funds.

What is the best digital bank in the Philippines for financing options? Tonik could certainly give some conventional banks a run for their money. The Credit Builder Loan lets you borrow up to PHP 50,000 and choose between a 6, 9, or 12-month repayment plan. Unfortunately, this type of loan has some pretty restrictive age requirements, only being available to users aged between 23 and 58.

Whereas the Shop Installment Loan is essentially a buy-now-pay-later plan. You can purchase up to 3 items with one loan between PHP 5,000 and PHP 100,000 and repay it in installments in 3, 6, 9, or 12 months (there's an option to pay it off early at no additional charge). It has a 4.5% fixed monthly interest rate and doesn't require any previous credit history or collateral.