Online banking has grown rapidly in the Philippines, with digital payments surging to 25 trillion pesos ($423 billion) in 2025, up 42% compared to 2024, according to the Philippine central bank. This growth is driven by the convenience of using online banking applications compared to traditional banking systems. Let’s compare online banking vs. branch banking and see why people increasingly prefer the former.
With an online bank, Filipinos can open an account, check their balances, and send & receive money from anywhere. Compared to visiting bank branches to process transactions, online banking application are far more convenient.
For example, Salmon is a digital platform licensed by the Philippine central bank, with deposits insured by the Philippine Deposit Insurance Corporation (PDIC). Users can easily open accounts and transact with this secure online platform.
You can access banking services from the convenience of a smartphone, with no need to visit any physical branch. An online banking application clearly wins, which is why Filipinos have increasingly turned to this service. With a platform like Salmon Bank, Filipinos can have 24/7 seamless access to digital services at their fingertips.
Key considerations
- Online banking apps have made banking easier for Filipinos, and the industry has grown rapidly as a result. Payment volumes hit an all-time high of 25 trillion pesos ($423 billion) in 2025 and remain on a high-growth trajectory.
- When choosing a banking app, always seek one licensed by the Philippine central bank and insured by the PDIC.
Conclusion
Online banking apps offer convenience and accessibility unmatched by traditional banking, so we shouldn’t be surprised that Filipinos increasingly prefer it. With many choices at your fingertips, you can choose a licensed, regulated digital banking platform and begin enjoying this convenience too.
