At this day and age, convenience is everything. You constantly find for things that will make your life easier and more enjoyable. Since you are working overseas, you also want to ensure that your family gets what they need even if you are miles away.
That being said, can you imagine transferring money or paying bills even without physically being in the Philippines? Believe it or not, you could do it now.
The best part is you could save more time and devote extra hours at work instead of waiting for your turn in banks or enduring a long commute just to deposit money because your family back home needs it. After all, when you are working overseas, time is everything.
This is what digital banking is all about. Unfortunately, only 14 percent of Filipinos are taking advantage of banks’ online capabilities. If you’re not one of them, then it’s time to consider looking closely into digital banking.
But first, what is digital banking?
Digital banking is an online facility that allows you to perform various bank transactions using your smartphone. All you need to do is to download the bank’s app on App Store or Google Play Store and you can do these, but not limited to:
- Opening a bank account
- Depositing money
- Paying bills
In other words, you can manage your account with just a few clicks and make banking transactions easier and more accessible.
What are the features of digital banking?
Many of you might be wondering why digital banking is the next big thing. The truth is there’s so much you could do. This includes:
- Opening of bank account without physically going to the bank.
- Depositing of money, although as of this writing, only check deposits are allowed. All you need to do is to take a picture of the check and it will be processed. Unfortunately and since digital banking is still on its infancy stage, cash deposit is not yet allowed since there is no program – yet – that could read paper money.
- Managing of bank account, whenever, wherever.
- Paperless transaction
- 24/7 customer service wherein you can call anytime
- Easy and secure banking
Hopefully, more features will be added but so far, these are sufficient reasons to entice you to try digital banking.
How is digital banking different from online banking?
This is a good question.
Online banking and digital banking are similar, except that the latter has more extensive features.
Online banking is limited. You could transfer money from one account to another or pay bills, but that’s it. In fact, you need to have an account with a particular bank first before you can access its app. Otherwise, even transferring money won’t happen.
How does digital banking benefit OFWs?
The answer is simple: convenience.
Being miles away from your family is not easy, more so managing finances. It is also important to have a bank account where you can deposit money because you’ll never know what could possibly happen in the future.
Don’t be afraid to try digital banking. It is understandable to be skeptical about it but if you don’t give it a try, then you’ll never know how much it could benefit you.