#Neon normal banking unlocked

PHOTOGRAPHS COURTESY OF TONIK

People have become more conscious of their spending habits. They have realized the importance of deciding well on what to do with their hard-earned income, or if it should be spent in the first place.

The value of saving money was illustrated when the pandemic struck.

The health crisis also made cashless transactions a viable option during purchases. However, going cashless can be complicated.

Enter Tonik, the first digital bank in South East Asia now in the Philippines.

It offers an easier way of banking where Filipinos won’t have to waste time in long queues.

In under five minutes, users can open their own account on the Tonik app by simply providing a government-issued ID and a selfie. After which Tonik issues users a digital Mastercard debit card.

Depositing cash may be done via over-the-counter partners Cliqq, 7-Eleven (7connect), Cebuana Lhuillier, M Lhuillier and SM Payment as well as via GCash, BPI and UnionBank.

Tonik offers time deposit with a 6 percent annual interest and a unique and fun way of saving via its Stash and Group Stash features that can grow your money up to 4.5 percent annual interest.

“We believe that banking should be easy, fun and — like most services these days — right there, in the palm of your hand. We are using world-class technology to dramatically cut operating costs, which allows us to offer game-changing interest rates and not to charge unfair fees to our customers,” said Greg Krasnov, Tonik founder and CEO.

While it presents a light, casual personality, the digital bank takes the security of its clients seriously.

Tonik is supervised by the Bangko Sentral ng Pilipinas and its deposits are insured by the Philippine Deposit Insurance Corporation.

It is the first bank in the country certified as compliant with Payment Card Industry Data Security Standard, the global “gold standard” in payment card security.

Its systems are also certified by CISA (Cybersecurity and Infrastructure Security Agency), the top authority in global IT security audits while client’s access is protected by the highest level of safety through server-based biometrics — all passwords and OTPs are subject to military-grade encryption.

To know more about Tonik, visit tonikbank.com.

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Credit belongs to : www.tribune.net.ph

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