#Tonik Philippines

Tonik Digital Bank has recently released an advisory that it will be charging a PHP 25 fee for top-up or cash-in transactions via debit card, GCash, and 7/11 channels starting July 5. According to Tonik, the said transactions cost them a lot of money, which is about 2.2-3.5%. The bank also mentioned that between high-interest rates and free of charge on some top-up channels, Tonik is confident that its customers prefer high-interest rates. Currently, Tonik offers free top-up on the following channels: • Direct account top-ups via BPI and UnionBank • PESONet ACH partners - including 14 of the major local banks. If you want to know more about Tonik, check out Tonik Digital Bank: What you need to know. You may also visit the official Tonik website for more information. Tonik has officially launched in the Philippines as the market’s first neobank. Tonik is a digital-only bank that was recently launched in the country. Read more in our articles including "Tonik to charge PHP 25 fee for select cash-in transactions starting July 5" and "Tonik Digital Bank: What you need to know".