Tonik has announced that its Mastercard Debit Card is now available for purchase.
Tonik is a digital-only bank that was launched a few months back in the country. Tonik Financial Pte Ltd is based in Singapore and focuses on product development and technology integration for its digital banking platform. Tonik’s banking operations in the Philippines are conducted by its local subsidiary Tonik Digital Bank Inc, regulated by Bangko Sentral ng Pilipinas as a rural bank.
To order your Tonik Mastercard Debit Card, follow these steps:
1. Ensure that you’re using the latest Tonik App Version 2.0.2
2. From the app dashboard, you may order your debit card.
3. By typing on the button, you are agreeing to pay the PHP 300 fee (PHP 200 production fee + PHP 100 delivery fee).
4. Once the card is received, the user is free to activate and choose a 6-digit ATM PIN thru the app. The card is now available to use for over-the-counter (OTC) transactions.
After the payment of PHP 300, which will be debited to your Tonik account, delivery will take 7-10 days if it is within Tonik’s delivery areas. Note that the courier will attempt to deliver the card to you three times, so make sure the address indicated is correct.
Furthermore, a fee of up to PHP 250 will be deducted every time you withdraw from ATMs. Tonik notes that this is the decision of the ATM Owner bank and not from them. However, they also stated that their Bancnet ATM card with lower ATM fees will be available later this year.
Source: Tonik
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