Everybody tells us that we should make the most of our finances while young. Save that, invest this. But where the heck do we even start? You have your traditional banks, plus that one friend who has been prodding you to dabble in crypto, NFTs, and Bitcoin.
It’s a good problem to have, but it’s still a problem: where do I put my hard-earned money? For 99% of us, where we place our limited extra funds could distinguish between a trip to Siargao or a new gadget for school and extra hustle.
Somebody Save me
A good start would be a savings account. Traditional banks often offer paltry interest rates, around 0.1% to 0.2% per year, almost non-existent.
Thankfully, with the rise of digital banks, the options are more promising. Nothing looks sexier than 6% interest for your savings, the highest among local banks.
This is possible with Maya, formerly known as PayMaya, an all-in-one money app launched just last week.
Maya’s transformation is not just a facelift. It comes with new features, including a feature-rich e-wallet, an inclusive digital bank, a crypto feature, and everything it takes to help you save, spend, grow, and master your money – all in one app.
Its Savings feature is powered by its very own Maya Bank, Inc. – so expect your experience to be more seamless and integrated.
Apart from the head-turning interest rate, Maya Bank’s savings products are also insured by the Philippine Deposit Insurance Corporation up to P500,000. The Bangko Sentral ng Pilipinas also regulates Maya Bank, Inc., so your savings are in safe hands.
All you’ll need is an upgraded Maya account to access this feature. If your account isn’t upgraded yet, you just have to submit 1 valid ID and you’re good to go.
When managed properly, credit cards can be lifesavers. They allow you to make emergency purchases when you’re strapped for cash.
But while applying for a credit card could be a pain, one can easily access up to P15,000 credit line via Maya without a sweat. Through Maya Credit, users can access up to P15,000 credit line in as fast as 60 seconds – which one can use to pay bills, buy groceries, or even upgrade their smartphone.
What in the Crypto?
Crypto, Ethereum, Bitcoin – these are still headscratchers for most of us. But Maya not only offers crypto, it also serves as a beginner-friendly guide for those who are just starting out their crypto journey.
You can buy crypto for as low as P1, or choose to sell, hold, and even spend your crypto earnings – all in one app.
Back to basics
Maya still retains all of its wallet features that you have come to know – allowing you to purchase online and in-stores, pay bills, send money, buy load, or do bank transfers.
On top of this, you can still cash in FOR FREE at over 90,000 touchpoints nationwide – so you only spend on things that matter, not on unwanted cash in fees.
A soon-to-be-available add-on is the option to send money via username (yes, no more pesky 11-digit numbers) for a more personalized experience, and a Dark Mode, because them eyes just work better in the dark for some reason.
All in all, Maya is a superpowered all-in-one money app that promises to challenge the norms of the local fintech market. We, for one, can’t wait to see what else is in store with Maya.