Life Lately: What have I...
December 28, 2020
Say Hello to your Money Anytime, Anywhere with AUB HelloMoney!
Applying for a bank account in the Philippines is a bit hard especially when you are working online due to some legality papers that you need to comply with. I remember when I was starting to work as a freelancer, I’ve been declined by some banks because I don’t have the requirements to open an account. Now that most banks in the Philippines have shifted to digital platforms, banking has been made easy! In fact, it wouldn’t be surprising to know that almost every Filipino you meet has an existing prepaid savings account. Not only they are convenient, but they also allow you to save and make investments. There are a lot of things you can do with a prepaid savings account, but knowing exactly how it works will help you maximize its potential.
What is AUB HelloMoney?
HelloMoney is a product of Asia United Bank (AUB). It is an e-wallet or a prepaid banking account where you can perform convenient and secure 24/7 mobile banking transactions as long as you are connected to the internet. It’s like GCash and Paymaya, but HelloMoney is owned by the Asia United Bank, so you can make sure that your money and your transactions are safe.
Unlike the normal bank accounts, AUB HelloMoney doesn’t require an initial deposit and it has no monthly fees and maintaining balance!
AUB Hello Money also offers an optional ATM prepaid card if you wish to withdraw funds from ATMs or process payments via POS terminals at retail stores. You may link 1 HelloMoney ATM card with your account at any given time.
You can hold up to P200,000 per month, with a withdrawal limit of P50,000 per day.
What can you do with HelloMoney?
- Cash-in money (over-the-counter in AUB branches or InstaPay)
- Fund Transfers to HelloMoney users, AUB account, and to other banks via InstaPay
- Pera Padala. You can send Money to remittance centers and AUB cash pick-up partners
- Pay Bills. You can pay your credit card bills, telecommunication bills, government bills, utilities, etc. using the HelloMoney App
- Purchase Prepaid load for any network
- Pay via QR code
- Manage your HelloMoney ATM card
Also Read: BIR Registration Guide For Self-Employed Professionals (Non-PRC Licensed)
How to open an AUB HelloMoney account
To open an account, most banks require you to visit their branch and bring the requirements needed. With AUB HelloMoney, you can create a bank account wherever you are! Just simply download the mobile app, and you can open a savings account right on your phone. It will only take you 10 minutes to complete the registration. But before anything else, make sure you are 18 years old and above with 1 government-issued ID, active mobile number, and email address.
Here’s a step-by-step guide on how to open an account online:
- Download the AUB HelloMoney app on App Store or Google Play
- Click open an account.
- Take a photo of your valid government ID (front and back).
- Provide the required information.
- Confirm your contact details via One-Time Passcode (OTP) sent to your mobile and email address.
- Record a short video of yourself stating your name, birthday, and address.
- Sign on the space provided and agree on Terms and Condition
- Receive the status of your application via SMS and E-mail notification within the next banking day from the date of application.
AUB HelloMoney Prepaid Bank account is free and easy to use. This is a great option whether you need a mobile wallet, prepaid card, or bank account. In addition, AUB does not charge transaction fees. Some billers might have a service fee for processing the transaction, but most of the billers in HelloMoney have no transaction fee.
You may also receive funds from abroad in your HelloMoney account. However, it is advisable to inform your remitter to send the funds through AUB Gintong Hatid partners. Though it is still possible for you to receive remittances that are not sent through AUB Gintong Hatid partners, AUB will not be able to track the transaction until the time that it reaches your account.
For more information, you can visit the AUB website and check out other products such as Hello Pag-ibig and AUB Paymate — QR Payments for your business.
Yay this is a good news! Road to cashless society.
Perfect rin ito for people from overseas like me. No need to visit banks and less hazzle.
Digital banks are such life savers! I’ve always had it when i started working so i never experienced the hassle of falling in line in the bank! Haha
Aaah, it’s a lot like Union Bank’s EON card pala. Buti marami nang ganito. A few year’s back, EON card was our only option, so it was a little bit challenging for some people to open an account for payments that are transferred from overseas and resort to PayPal which deducts a big amount when you withdraw.