GoTyme Bank’s promise to unlock the Filipino potential goes beyond merely providing accounts to millions of unbanked or underbanked Filipinos. It entails giving them a high quality banking experience previously reserved for the preferred bank customers. For a start, customers get to enjoy these products and services:
Easy Onboarding. GoTyme Bank offers instant account opening. A customer simply has to download GoTyme Bank app on an iOS or Android device. At a GoTyme Bank kiosk in a Robinsons retail outlet, a bank ambassador will help a customer secure a free personalized Visa debit card in five minutes. The bank ambassador will then bring the customer to a cashier for the initial GoTyme Bank transaction.
Go Send. With Go Send, customers can easily and securely transfer funds from the GoTyme Bank app-- with three free transfers a week to other local banks, on top of the free GoTyme Bank to GoTyme Bank transfers.
Go Shop. GoTyme Bank Visa debit card is the smarter way to shop in retail stores or online and when you travel across the globe, making it the best rewards program for a debit card in the country. Go Shop improves the customers’ shopping experience. With each swipe of the GoTyme Bank Visa debit card at partner Robinsons stores, a customer earns 3x Go Rewards points; and a customer earns 1x everywhere else (P600 spend = 1 point). All the Go Rewards points earned add up; a customer to earn back a portion of the spend by redeeming points as cash from the deposit and withdrawal (DEWI) locations, or the peso amount can be credited to the customer’s Go Save account (5 points= P4.00). There’s more: GoTyme Bank’s partnership with Cebu Pacific enables a customer to reach a dream destination by boosting rewards points earned from flights; these points can be redeemed to pay for flights and flight add-ons.
Go Save. With Go Save, customers will earn a 5% per annum interest rate, the highest base interest rate in the country. There are no missions to complete, no deposit caps, and no minimum balance requirements. GoTyme Bank deposits are insured by Philippine Deposit Insurance Corporation up to P500,000. GoTyme Bank has also introduced “Save Your Change”, along with other saving tools, which allows customers to save by rounding up to the nearest 10 or 100 pesos and putting that amount automatically into their Go Save accounts.
Soon, GoTyme Bank will roll out products to meet customer needs for credit, investments and insurance.
Unlocking the financial potential is at the heart of GoTyme Bank’s mission—a breath of fresh air in a space dominated by traditional banks that focus their propositions on a minority of the population. Research has found that more than just being merely a legacy of the pandemic, new digital banking players in developing countries can make material impact on an economy’s progress by accelerating the adoption of modern financial products that act as the sustainable fuel for growth.