What is Tonik Bank? Tonik Bank Review, Features

What is Tonik Bank? Tonik Bank Review, Features

Tonik Bank is Southeast Asia’s first digital-only bank headquartered in Singapore, with a mission to revolutionize the way money works in Southeast Asia.


About Tonik Bank


Founded in 2018, Tonik Bank is a subsidiary of Tonik Financial Pte Ltd, a Singapore-based entity in the Philippines. It offers retail financial products including deposits, loans, current accounts, payments and cards on what the company considers to be a highly secure digital banking platform. Tonik is the first neobank in the Philippines to receive a digital banking license from the Bangko Sentral ng Pilipinas (BSP). Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC). The bank is a subsidiary of Tonik Financial Pte Ltd, a Singapore-based entity that manages its product development and technology integration.


Tonik Bank's functional services


1. Tonik Account

Your Tonik account is your primary account. It will give you the satisfaction of having 5 stashes and 5 term deposit accounts in the Tonik app. You'll love how you can move, organize and personalize your cash.


2. Hiding Place

Think of your stash as separate savings pockets for different things. You might set aside one amount for a dinner date. Another might be for a gift. One might be for a romantic weekend getaway.


3. Group hideouts

Open a group stash with your friends, reach your financial goals, and earn 4.5% interest per year.


4. Fixed deposit

Enjoy interest rates up to 6% per annum on fixed deposit accounts.


5. Debit Card

Use your Tonik physical debit card to access your funds at thousands of ATMs nationwide.

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