It's Go Time with Go Time! So in this video, I'm gonna share with you why Go Time Bank is now my new favorite digital bank. In this video, I'm gonna share with you how you can easily open an account, what are its features and benefits, and how you can get a free debit card in Go Time. So yeah, let's go!
So in the many digital banks nowadays, my favorite is different. In fact, if you've been following my channel, my first favorite was ING. Unfortunately, ING is no longer here in the Philippines. Then my next favorite digital bank was Como. However, Como failed to innovate because their features are lacking. They don't have as many features as they used to have.
And then, their interest is only 2.5%. However, right now, I saw GoTime. In terms of features and benefits, I really liked it.
In this video, that's what I'll share with you. However, before that, what is GoTime? GoTime is the digital bank, actually one of the first officially licensed BSPs as a digital bank. Because here in the Philippines, so far, there are only six officially licensed digital banks.
So if you don't know what are the six digital banks, I'll put a link top right of this video. You can check that out. Because some of the so-called digital banks, they're actually not digital banks.
So example like CIMB, they're actually a commercial bank. The C Bank and Como, they're actually a rural bank. So Gotime is an officially licensed digital bank by BSP.
Then who owns Gotime? So Gotime is actually owned by Robinsons, by the Gokongwei. company so that's why it's called GoTime.
So like the owner of Robinson, JG Summit, they are the owner of GoTime. So that's why I love about them because they're actually backed by a traditional solid company. So that's GoTime. And then currently GoTime is actually giving 5% interest per year in savings account. Then this will be credited monthly in your account.
So it's a pretty solid interest rate. This is actually the best part in GoTime. It's really super easy to create an account. Sobrang easy, ayun nga, I was supposed to show you a step-by-step guide on how you can create an account.
But sobrang easy, ilan lang yung na-screenshot ko. Basically, ito yung steps. Just go to your App Store or Play Store and download the GoTime Digital Bank account.
Tapos, ayun nga, so sobrang easy when I started doing the doing, create an account, ito lang yung na-screenshot ko. So, just make sure you're ready, you're official or valid ID mo. So, as I was already filling up yung details, so just fill up the details, I took a picture of the valid ID, tapos selfie, and then, ayun nga, so sobrang easy to follow yung steps, ito lang yung nakuha kong screenshot.
Okay, so basically, as I was filling up yung details, Tapos na pala. Tapos na pala. So, ito na lang yung nakuha kong screenshot. Your account is now ready to go.
So, sobrang easy talaga ito, right? Just download it. Follow the instructions. Just make sure meron kang valid ID.
Take a selfie. And then, boom. Meron ka ng account in GoTime.
And ito din. Once meron ka ng account in GoTime, actually, meron silang free debit card. Free debit card.
And makukuha mo yung debit card if you go sa mga GoTime kiyost. Itong mga GoTime kiyost, they're usually located in Robinson's Mall. probably near the supermarket so you just go there tapos just log in your account and I believe you will get your debit card anyway this is what we will do let's actually go to a Robinson's Mall and get a GoTime debit card so yeah let's go GoTime printing debit card There, the debit card is being printed. So, me and my wife have a GoTime account. Just go to your nearest Robinson Mall.
Alright, my turn printing your debit card. It's GoTime! Can you do a video?
And that's it that's how fast it is to get a GoTime debit card. Alright All right, so yeah, that's how easy it is to get an official GoTime debit card So it's so nice, right? Like this is one of the coolest debit card that I have So yeah, that's how easy it is to get a GoTime debit card. So what happens is basically like your username in your account, you log in to their kiosk and then you log in and there's an OTP request to print a card and in just few seconds, you have a debit card and if you think you're scared or what, don't worry because there are personnel willing to assist you to print your debit card so now let's talk about the features and benefits of GoTime account When you open the GoTime app, this is how it looks like.
It's very clean, it's very minimalistic, and it's actually very easy to navigate. Here you can see your main account, your GoRewards, GoSave, and your debit card. Let's talk about each of these.
First is your main account. This is where your cash-in will go. Let's say you will cash-in here.
This is also where your debit card is connected. So if you're going to use your debit card, This main account will deduct every time you use your debit card. Then, I believe your main account has no interest.
If I'm not mistaken, it has no interest. What you need to do is, from your main account, you need to transfer it to your GoSave account. So you can actually just move your funds around.
So from your main account to GoSave, then from your GoSave, you can... Again, from your main account, it seems like it has no interest. Then for it to earn interest, it goes to GoSave. and when it earns interest, you can transfer it to your main account which you can use for debit card purposes or if you want to use your funds next feature is the GoSave account again, I really love digital banks that have a feature where you can separate your money so you have a save fund, a confidence fund, or emergency funds or whatnot But basically, that's my favorite feature in a digital bank.
So far, the other digital banks that have this, because in GoTime, you can create up to 5 GoSave accounts. So these 5 GoSave accounts, they're all going to earn like 5% interest per year. And so far, in other digital banks, this can be comparable to Maya. So in Maya, you have savings. You can create savings goals.
However, in Maya, it's locked up. So you cannot withdraw easily. you really have to close the account, you really have to close the savings goal so that you can get your money.
In GoTime, you can just really withdraw it anytime, you can transfer it anytime. Another one that is comparable here is in Tonic Bank. So in Tonic Bank, they have what they call stashes. Stashes? Stashesses.
Okay, so stashes. So they have a main account, then you put them into in separate stashes. So, the concept is similar with GoTime.
In Tonic Bank, the interest per year is 4% per stash. Then, you can also move. So, basically, it's similar with GoTime. The only thing I love about GoTime compared with Tonic is that Tonic is fully digital.
They're not backed by any traditional bank. That's why GoTime now is my new favorite because they have the same features. at the same time backed by robinson or by the gokong way group of companies so union go save that was uh this is also how it looks like once you create an ego save account so when it's basically just go to go save makikita mo yung mga mga go save accounts mo you can create one and the good thing is pretty sure my deadline but it didn't make target target goal savings you have a lot of flexibility and you can also auto deduct from your main account so if you have a main account, it will auto deduct and save for you so basically in terms of features, it's features are very good in terms of saving now the next feature is the go rewards so basically every time you use or spend using your go time account you will earn points so basically I haven't used it yet so this is still zero but we actually tried this one so ah I couldn't find the actual point system on the website but I found out that every time you spend your debit card and you spend it on your partners because they have partners, these are their partners you actually earn like times rewards points but if you use your debit account, your debit card, GoTime debit card in anything, you will earn points. However, if you use it with their partners, you will earn 3 times points.
And then in terms of point system, again, this is something that I haven't found. So I just saw in Reddit, if you spend like 600 pesos, you will earn 1 point or something. Or, I believe it also depends on their partner.
Let's say in another store, if you spend around 250, like one point. So I haven't verified this one. If you know, let me know in the comment section below.
But basically, there's a point system that every time you spend a specific amount, you'll earn one point. Then, your one point is actually equivalent to one peso. If you spend it in their partner companies. So let's say you spend it in Rose Farmers, you spend it in the Robinsons. a supermarket you spend it in Cebu Pacific one point is actually equal to one peso however if you cut if you cash out it if you convert it into cash parang 80 percent lang yung makukuha mo example meron kang 100 points if you decide to convert that into cash parang 80 pesos lang yung makukuha mo in cash but if you decide to spend it sa mga partner companies nila then yung 100 points mo is equivalent to 100 pesos talaga so sobrang sobrang ganda ko meron sa ng saving savings features, meron din silang spending feature.
So parang rinireward ka rin for spending using your GoTime account mo. Actually, na-try namin yung GoTime debit card. So we tried it in in Robinson supermarket. Tapos in the grocery.
Tapos sobrang excited na rin. I forgot to take a video of it. I forgot to take a video of it.
So yun nga, like we spent around parang 700 plus in grocery. So just quick grocery just to test it out. So we got actually 9 points in return.
So which is pretty good, right? Like you spent money so you have 9 points. So if we're gonna use that in partner companies, so that's 9 pesos. But if we decide to convert that into cash, then that's around 7 pesos which is pretty good as well. So yeah, that's the Go Rewards feature of GoTime.
Then in terms of... cash in so it's very convenient. I personally in terms of cashing in very simple lang para sakin like as long as you can transfer instapay from other bank all good naman and so far pwede siya so you just for you to do that you just need yung account number mo so you just go itong parang profile na logo and then dun mo makikita yung account number mo so in any bank you just go to instapay and then go to gotime search gotime and add yung account number mo and you can just cash in via doing that so via Instapay. However, if you want to cash in like you don't have other banks or what, you can cash in. Just click this button and then click on cash in and you will see the cash in options.
You can cash in in Robinsons, you can cash in in... these are their options. So yeah, in terms of benefits and features of GoTime, so far, approved. They are right now...
My, they are right now my new favorite digital bank. So yeah, that is how amazing GoTime digital bank is. So if you have experience with GoTime, let me know in the comment section below if we have the same experience. Is your experience with GoTime good? And so far, I'm loving the digital bank.
So yeah, I hope you find this video valuable and helpful. And if you did, make sure to smash the like button for the YouTube algorithm. And consider subscribing so we can hit the silver play button and we can reach more Filipinos. And if you want to start your low-deal lifestyle journey with me, visit my website, freedomlabph.com.
Again, that's freedomlabph.com. I hope to see you inside. Once again, this is Tio Pilo.
And our goal is to live on dividends and interest. Bye-bye.