If you aren’t using an e-wallet yet, you’re definitely missing out on a lot of benefits. For one, having an e-wallet account means you can send and receive money anytime, anywhere. You can also pay your household bills, government contributions, and even insurance premiums in just a few clicks.
For those with mobile prepaid accounts, you can use your e-wallet to purchase load and mobile data. There’s also an option to buy gaming pins and load up your RFID tollway tags. In short, it’s about time to download and click the “create PayMaya account” button to enjoy all of these conveniences and more.
Of course, before you can do all of these above-mentioned transactions, you need to add money to your account first. The best and most beneficial way to do this is to use digital channels such as online banking. Why? Below are just a few reasons:
Speed
Compared to digital channels, adding money to your e-wallet through over-the-counter methods or even self-service kiosks takes more steps. Sometimes, you even need to fill out forms. It’s also more time-consuming because you still have to go to a convenience store, pawnshop, or your preferred cash-in partners. If their system is off-line, then you have to visit another branch or postpone adding money to your account.
Through digital channels, you don’t have to leave your home or office. All you need is to log-in, tap the corresponding icon, and input the amount you want to top-up. Once you input the OTP sent to your mobile number to confirm the transaction, you’ll immediately receive the money in your e-wallet.
Convenience
Using digital channels to top-up your e-wallet means you can add money anytime, anywhere. As long as you have a stable internet connection, you can open your app even at midnight and you can fund your e-wallet account.
With over-the-counter channels and self-service kiosks, you’re limited by business hours. Once these establishments close for the day, you won’t be able to cash in. You may also be out of luck if there are public holidays. Convenience stores operate at longer hours, but it may not be ideal to visit too late at night, especially if there are no nearby branches in your location.
No Additional Fees
Most of the time, there are no additional charges like convenience or processing fees when you add money to your e-wallet account. The only time that e-wallets will deduct these kinds of fees from your credited balance is when you reach a certain amount threshold. Even then, this usually only happens when you add money through over-the-counter channels.
Why, you may ask? This is because mobile wallet companies are encouraging people to use digital channels as much as possible. The ultimate goal here is for people to get used to cashless transactions (and over-the-counter channels still involve handling cash).
Cost-Efficiency
Aside from avoiding additional charges, using digital channels to fund your mobile wallet also helps you save on costs in other ways. First, you don’t have to spend money to commute to the nearest convenience store, remittance center, or mall. If you don’t take public transportation and instead drive your own car or motorcycle, then you save money on gas. These might not be immediately noticeable, but every peso counts!
Of course, you’ll also save time when you cash in using online or mobile banking. This gives you the opportunity to do more with the extra time, whether it’s working, relaxing, or engaging your hobbies.
Health and Safety
One of the biggest reasons for the rise in popularity and usage frequency of e-wallets in the Philippines is the COVID-19 pandemic. Due to restrictions put in place in the early months of quarantine, there were plenty of establishments that had to temporarily stop their operations. This is because the virus that causes COVID-19 can be easily transmitted in crowded places. Even when quarantine restrictions were eased, people were still highly encouraged to stay indoors to help curb the further spread of the virus.
When you add money to your e-wallet using online or mobile banking, there’s no need to go outside. Therefore, you minimize your exposure to potential carriers and environments where you can catch the virus. Even when the pandemic subsides, it’s still best to add money to your e-wallet through digital channels for health and safety reasons.
The fast-paced world means that people find it more difficult to find free time. That’s why these days, finding the fastest, most efficient solutions to accomplish your tasks is the way to go.
Using an e-wallet to shop, pay your bills, and send money is one way to do this. When you add money to your account using digital channels, then it becomes even more so. The bottom line? If you can safely perform your usual tasks using digital and cashless means, don’t hesitate to do it. It will make a world of difference!
