#Tonik Stashes

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. 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. As mentioned, Tonik is supervised by the Bangko Sentral ng Pilipinas (BSP). This implies that all the users' money with Tonik in their Savings Account, Stashes, and Time Deposit are insured up to PHP 500,000 per depositor by PDIC. Tonik’s cloud-based solution is powered by global financial technology leaders Mastercard, Finastra, and Amazon Web Services. As per Tonik, it is a highly secure digital banking platform that guarantees customer transactions' safety and security. Read more in our articles including "Tonik Digital Bank: What you need to know" and "BIR opens Tax Payer Portal".