On average, a person has around 80 apps installed on their smartphone but of course, only around 9 apps were used daily. This means that mobile apps are already part of our lives. For people who are into personal finance, there are tons of finance apps out there and an average person has around 2.5 financial apps on their phone.
Did you know that younger generations tend to use more financial apps than older ones? Financial literacy is really a thing now. Also, some people with more complex financial situations use more apps for budgeting, investing, or managing multiple accounts. As for preferences, some users prefer an all-in-one app, while others use separate apps for specific needs. So, which app do you think best fits you?
Let’s talk about the 10 Must-Have Financial Apps in the Philippines to help you find the financial app that suits your needs.
The Top 10 Financial Apps in the Philippines
- GCash
- Unionbank online
- Maya
- Gotyme bank
- BPI
- BDO Online
- JuanHand- online cash loan app
- Virtual Pag-ibig
- Home Credit online loan app
- SSS mobile
Table of Contents
1. Gcash
GCash is a popular mobile wallet app in the Philippines and almost every Filipino has it. It allows users to do a variety of things, like sending and receiving money which is its main function, and aside from that, you can pay bills with Gcash. However, as of now, they charge a convenience fee for paying through this app. If you want to buy load or shop online, you can also use GCash and it even has Gcredit for users who want to pay in installments.
Another amazing feature of Gcash is the GInvest where you can invest in stocks that are tailored to your risk appetite. You can also open a savings account through GSave and get insurance through GInsure. GCash is a convenient way to make cashless transactions in the Philippines and it’s especially useful for people who don’t have a bank account or credit card because this can act as one. You can even request a GCash card.
Save money by purchasing from GCash partners that offer discounts and cashback rewards to their users. You can check the GCash app for a list of current promos or visit the GCash website for more info.
Pros:
- One-stop shop for many financial transactions.
- Multi-factor authentication to protect your account and transactions.
- Cash allows people without traditional bank accounts or credit cards to participate in the digital economy.
- Offer discounts and cashback rewards for various transactions.
- Allows you to invest and grow your money or save with potentially higher interest rates than traditional accounts.
Cons:
- Transactions leave a digital footprint, which means there’s less privacy compared to cash transactions.
- Requires a smartphone with an internet connection to function.
- Susceptible to hacking attempts.
- There may be fees for certain services
Ultimately, whether GCash is right for you depends on your needs and priorities. If you value convenience, security, and the ability to make cashless transactions, then GCash can be a great tool. However, if you’re concerned about privacy, rely on cash heavily in remote areas, or are uncomfortable with digital transactions, then GCash might not be the best fit.
2. Union Bank online
UnionBank Online is the online banking platform offered by Union Bank of the Philippines. Filipinos with Union Bank accounts have this app but if you don’t have one yet, you can still download this app and open an account through the app itself.
It allows you to Check your account balances and transaction history, and you can also transfer funds between your UnionBank accounts and to other banks. They are partnered with over 800 billers so you can pay your bills online without having to wait in line. Another amazing feature is that you can deposit checks remotely by just taking a photo of the check which is very convenient.
If you’re a goal-oriented person, you can set financial goals here and track your progress. Managing your debit and credit cards is also possible and you can split bills with friends. This eliminates the need for manual calculations and awkward money chasing after group outings or shared expenses. However, It’s important to ensure that your friends also have a UnionBank account to participate in the bill-splitting feature.
Pros:
- Manage your finances from anywhere, anytime.
- Great features like checking balances, transferring funds, paying bills, depositing checks remotely, splitting bills with friends, and more.
- Uses various security measures to protect your financial information.
- Partners with merchants for promos and discounts.
Cons:
- Limited to UnionBank Account Holders
- Requires Internet Access
- Mobile Deposit Limits
- Bill Splitting Limitations
- No Direct Discounts and only facilitates transactions that might be eligible for partner promos.
So, Union Bank Online offers a convenient and secure platform to manage your finances but it doesn’t directly give discounts. However, it can be a useful tool to take advantage of partnered promos and split bills easily.
3. Maya- savings, loans, cards
Maya is a popular digital bank app in the Philippines that is almost similar to Gcash. But with Maya Savings, you can get a competitive interest rate, reaching up to 14% per annum on your deposit balance. It’s a good way to save and grow your money. However, there’s a base rate and you can boost it further by using Maya for everyday transactions.
If you need cash urgently, they offer a loan product called Maya Easy Credit, which provides users with additional funds for their needs in a seamless process. No debit card? You can get a free Maya card linked to your account for convenient online and in-store payments.
Just like the other apps mentioned, you can also pay your utility bills telecommunication bills, and even government transactions conveniently within the app. There’s also mobile top-up. As for money transfers, sending and receiving money between Maya accounts has always been easy with its @username feature for sending money to contacts without needing their account number.
Of course, there are also cashless payments for shopping online or paying in-store at participating merchants using QR codes or their virtual cards. If you are into crypto, you can buy and sell select cryptocurrencies within the Maya app. Maya keeps adding new features, so it’s a good idea to check out their official resources for the latest updates.
Pros:
- Manage finances in one app – savings, loans, bill payments, money transfers, mobile top-ups, cashless payments
- Cryptocurrency investments
- Competitive Interest Rates
- Discounts and Promos.
- User-Friendly Interface
- Security Features
Cons:
- There may be fees on certain transactions like bill payments or card replacement.
- Limited Crypto Options
- If your phone gets lost or damaged, it will be difficult to access your Maya account.
- Not all merchants accept Maya
Overall, Maya is a convenient and feature-rich app for managing finances in the Philippines. It’s best for saving money because it offers high interest and can act as a debit card since it gives a free Maya card.
4. Gotyme
GoTyme is a mobile app for GoTyme Bank, a bank in the Philippines. However, it’s not that popular yet. This app allows you to open a bank account in under 5 minutes and earn a 4% interest rate on your savings. You can also send and receive money for free but with some limitations. You can also pay bills and do QR payments. What’s great is that when using your Gotyme debit card, you can earn reward points.
Saving for numerous stuff? If you have multiple savings goals, Gotyme allows you to open up to 5 separate GoSave accounts! This lets you set and track savings goals for different things, like a vacation or a new gadget.
Gotyme offers tools to help you save more easily. You can set up auto-save to transfer money to your savings account regularly or enable Save the Change which rounds up your debit card purchases and deposits the difference into your savings. Amazing, right?
There’s more! Gotyme offers a free Visa debit card that you can use to shop online and in stores. You can also earn Go Rewards points with every purchase, which you can then redeem for cash. Unlike some other digital banks that rely solely on chatbots, Gotyme provides access to real customer service representatives if you have any questions or encounter issues.
But, take note that you will need a Philippine mobile number, home address, and valid ID to open an account.
Pros:
- Open an account quickly, manage finances from your phone, and send and receive money easily (with free options).
- Earn a competitive interest rate
- Set savings goals with multiple GoSave accounts
- Utilize auto-save and “Save the Change” tools for effortless saving.
- Rewards
- Simple and user-friendly interface
- Human Customer Support
- Free account opening, free debit card, and free interbank transfers (limited number per week).
Cons:
- Limited ATM Network
- Free interbank transfers have a weekly limit, exceeding that may incur fees.
- The daily transfer limit may be lower than some competitors.
- Newer banks compared to established banks.
- Limited Bill Payment Options
GoTyme is best if you want to save for multiple financial goals simultaneously and earn a competitive interest rate. If you want to open savings accounts faster, this one is also good. However, for other features, they are quite limited.
5. BPI app
The BPI app is a mobile banking application offered by the Bank of the Philippine Islands (BPI). Just like UnionBank, it allows you to view your account balances and transaction history, transfer money between your BPI accounts, send money to other BPI accounts, or transfer funds to other local banks and even e-wallets. You can also pay bills on time with debit or credit cards.
If you love investing, you can open an investment account or time deposit in the app. To pay in stores and restaurants (and soon billers too), you can simply scan the QR code. With the power of AI, you can track and analyze your spending habits with the help of AI-powered insights
The BPI app is available for download on the App Store and Google Play Store. To use the app, you will need to be an existing BPI customer and have a BPI account. You can register for the BPI app through the app itself or via BPI’s web browser online banking platform.
Pros:
- Convenience
- Multiple security features like requiring a registered device and offering a Mobile Key for secure transaction authorization.
- Wide Range of Transactions
- Track your spending and categorize transactions for better budgeting.
- Cashless Payments
- Quick Balance Check by using the app widget to view your balance without logging in.
Cons:
- Requires a smartphone with a data connection or wifi to function.
- Potential Security Risks
- Limited Functionality Compared to Web Platform
- Occasional app updates or system maintenance can lead to temporary downtime.
- While generally user-friendly, some users might find the interface complex, especially if not tech-savvy.
The BPI app offers a convenient and secure way to manage your finances on the go. However, consider your comfort level with technology and mobile security before relying solely on the app. For more complex transactions, you might still need to access BPI’s web-based online banking platform.
6. BDO Online Banking
BDO Digital Banking App is an all-in-one app for managing your BDO accounts. It allows you to do most things you can do on the BDO online banking website but with the convenience of your phone or tablet. Same with other banking apps, you can check account balances (savings, checking, credit card, etc.), view transaction history, pay bills (utilities, credit cards, etc.), transfer funds between accounts, send money to other people, and reload prepaid phones.
What’s cool about the BDO online banking app is that it can locate BDO branches and ATMs. You can also sign up for eStatements to receive your bank statements electronically and reduce paper clutter. This app enables fingerprint or facial recognition for secure and faster login. Check the app for promos and discounts offered by BDO partner merchants. Some cards offer cashback points or rewards programs you can track and manage through the app.
If you want to invest, some BDO apps allow you to invest in mutual funds or other investment products directly through the app but this feature might depend on your account type. You may also be able to pre-qualify for loans or submit loan applications through the BDO app.
Pros:
- Convenience
- Fingerprint or facial recognition login for added security.
- Bill Payment and Auto-Pay
- Offers some basic budgeting tools to track your spending.
Cons:
- Have fewer features for budgeting, investment tracking, or financial management than other banking apps
- Some users report issues with the app’s user-friendliness or occasional glitches.
- Occasional downtime due to maintenance or technical issues.
- Maintaining Balance Requirements
7. JuanHand- online cash loan app
JuanHand is a Philippine online cash loan app developed by WeFund Lending Corp. It appears to be a legitimate lender, licensed by the Securities and Exchange Commission. This app provides fast and convenient cash loans with interest rates that seem to be reasonable compared to other lenders, though it’s always best to check the terms and conditions carefully before applying for a loan.
The loan terms it has are flexible, with repayment periods of up to 3 months and they also have a user-friendly app for easy application.
However, like any loan, make sure you can afford the repayments before borrowing. It’s important to be aware of the data the app collects and its security practices. Just maintain a good credit history by paying bills on time. This might increase your loan amount or grant better terms. Provide complete and accurate information during application to avoid delays. Repay your loans on time to potentially increase your borrowing limit for future needs.
Pros
- Quick and easy way to get a loan through their mobile app. This can be helpful for unexpected expenses or emergencies
- Reasonable rates
- Flexible repayment
- Potentially improves credit score.
Cons
- Risk of debt
- Data privacy concerns
- Potential high costs for late fees and other charges.
- Not a long-term solution
Overall, JuanHand can be a useful tool for quick cash when used responsibly. However, it’s important to be aware of the risks and potential drawbacks before applying for a loan.
8. Virtual Pag-ibig
The Virtual Pag-IBIG mobile app is the official app of the Pag-IBIG Fund in the Philippines. It allows you to conveniently manage your Pag-IBIG membership and transactions right on your smartphone or tablet. With this app, you can view your Pag-IBIG records which include your Regular Savings, Modified Pag-IBIG 2 (MP2) Savings, Pag-IBIG Housing Loan, and Pag-IBIG Multi-Purpose Loan (MPL).
If you have existing Pag-ibig loans, you can track your payments and check the outstanding balance of your loans anytime and the app now allows you to make payments for your Regular Savings, MP2 Savings, Housing Loan, and MPL directly within the app. You can also track the progress of your loan application within the Virtual Pag-IBIG Mobile App.
If you’re a Pag-IBIG member in good standing and don’t have a loan yet, you can apply for an MPL through the app. For the new members, they can conveniently get their MID number within the app.
While the Virtual Pag-IBIG app offers a range of features, there isn’t necessarily a way to maximize it in the sense of unlocking hidden features. However, you can definitely optimize how you use it to manage your Pag-IBIG membership effectively..
Pros:
- Manage your Pag-IBIG membership anytime, anywhere from your smartphone. There is no need to visit branches or wait in line.
- Easy access to your Pag-IBIG records like contribution history, loan details, and dividend information.
- Make payments for contributions and loans directly within the app.
- Applying for an MPL (Multi-Purpose Loan) became faster and more convenient through the app.
- Conveniently get Pag-IBIG Membership ID (MID) Number within the app.
Cons:
- Limited functionality- has yet to withdraw funds or manage Loyalty Card Plus applications.
- Occasional bugs or crashes.
- The app currently has a moderate rating on app stores, with some users reporting issues or requesting additional features.
9. Home Credit Online Loan App
Home Credit Online Loan App, also known as the My Home Credit App, is a mobile application offered by HC Consumer Finance Philippines Inc. that allows you to apply for and manage loans in the Philippines. You can apply for various types of loans including cash loans, product loans, and credit card loans. The app promises a fast and easy application process with minimal requirements. Once you have a loan, you can use the app to track your loan details, including loan account number, amount due, due date, and other relevant information.
As for payment options, the app allows you to repay your loans conveniently through various channels, including over-the-counter payments, bank transfers, and credit card payments. It also offers additional features such as bill payments, purchase of prepaid load, and access to financial articles and guides.
Take note that the app mentions interest rates starting at 18% APR (Annual Percentage Rate). It’s important to be aware of the interest rates and fees associated with the loan before applying. Aside from that, not everyone may be qualified for a loan. The app doesn’t provide details on eligibility requirements on the app itself, but it suggests users will be notified of pre-approved loan offers.
Pros:
- Convenience in applying for and managing loans.
- Fast and easy application
- Various loan options like cash loans, product financing, or credit card refinancing.
- Track your loan details, due dates, and payment history all in one place.
- Multiple payment options
- Bill payments, prepaid load purchases, and financial resources within the app.
Cons:
- An interest rate of 18% APR. Carefully consider the cost of borrowing before applying for a loan.
- Doesn’t readily provide details on eligibility requirements.
- You might not be pre-approved for loans you need.
- Debt trap potential
- Additional fees are associated with the loan aside from interest rates.
- Spam calls from their agents
Home Credit App can be a useful tool for Filipinos if used responsibly. It offers convenience, loan options, and repayment flexibility. However, be cautious of the interest rates and potential for debt if you don’t manage your borrowing carefully.
10. SSS mobile
The SSS Mobile App is a convenient way for members and employers of the Social Security System (SSS) in the Philippines to transact with SSS anytime and anywhere using their mobile devices. This app is good for users who need constant checking and paying of SSS loans or more. As for some Filipinos who don’t really need anything with SSS, this app is not really needed.
This app helps in viewing SSS records, applying for salary loans, checking the status of benefit claims and salary loans, and viewing contribution history.
If you want to pay online or even as an employer, you can generate, edit, and inquire about payment reference numbers for contributions. You can also view documentary requirements or find SSS branch locations.
Pros:
- Access SSS services anytime and anywhere using your phone. No need to travel to branches and wait in line.
- Can check your SSS information, submit applications, and make transactions even outside of SSS operating hours.
- Receive notifications directly on your phone for updates and reminders.
Cons:
- Might experience downtime or technical glitches that could disrupt your transactions.
- While the app offers a variety of features, some complex transactions may still require going to a branch.
- Need a smartphone and internet connection to use the app, which may not be accessible to everyone.
- There’s a chance of errors when inputting information or submitting applications through the app.
Overall, the SSS Mobile App offers a convenient and efficient way to manage your SSS membership. However, it’s not for everyday use.
Conclusion
Financial apps depend on what your day-to-day looks like and what your financial goals are. There are apps that are good for savings where you can earn competitive interest and open multiple savings accounts for various financial goals. Some apps are good for investing which helps you grow your money with low risk. Some apps are for borrowing money in case of emergency or when you want to buy stuff and apply for a loan. While some apps are connected to your bank, most of the financial apps mentioned allow you to pay bills online, do cashless transactions, and more. Just think about what apps best fit your needs.
