Now though, Filipinos have a new way to handle their finances as Tonik, Southeast Asia’s first digital-only bank launches as the first neobank in the Philippines. Tonik is an online bank that introduces a completely branchless way of banking on a highly secure mobile platform, bringing bank services to more Filipinos. 



Powered by Mastercard, Finastra, and Amazon Web Services, Tonik has a wide array of services, though the highlight is its with industry-leading deposit interest rates of up to 6% per annum. To make saving more relevant and social, Tonik also offers unique Stash and Group Stash features, as well as traditional Term Deposits.




“Sadly, traditional banks have completely forgotten how to listen to their customer.  So, we are on a quest to become the first bank brand in the Philippines with a sense of humor and an actual personality that consumers can relate to. Our mission is to trigger a wave of #NeoBankingRomance in the Philippines”, says Long Pineda, President of Tonik Digital Bank, Inc, Tonik’s regulated bank subsidiary in the Philippines.



Tonik customers can open a fully functional banking account in under 5 minutes, using only the Tonik App, an ID, and a selfie. To top up a Tonik account, users can use interbank services, debit cards, or cash-in at close to 10,000 retail agents across the country.


Drone Point View of City Street Crossing at Rush Hour


Aside from a savings account, users are also issued a virtual Mastercard debit card that can be used at various online merchants. Tonik will also soon offer a physical debit card, as well as the option to take out an all-digital consumer loan.

According to Ungeek