Maybank Partners With GCash

Maybank partners with GCash to create EzySave+, a digital platform that offers customers the opportunity to earn interest and perform financial transactions from the safety and convenience of their homes.

Before the COVID-19 pandemic, the only way for users to earn interest was through time deposits, which locked their funds within a certain period. If they wanted readily available savings, the interest rate was low. Moreover, bank transactions were mostly done in person, which meant that customers had to go to their bank’s branch to address their needs.

However, with the shift to the new normal, there is a need for everything to go digital. Transactions can now be done online, and consumers can purchase and pay using cashless payments like digital e-wallets or online banking. Thus, Maybank, which ranks as one of the top four largest banks in Southeast Asia, partnered with GCash, one of the leading e-wallets in the Philippines.

This partnership allows for endless possibilities for flexible and seamless transactions. Consumers can easily open an account, gain benefits, and earn interest every time they use EzySave+ on the GCash app. Abigail Del Rosario, CEO and President of Maybank, said that the digital transformation brought changes to daily transactions, and the partnership with GCash guarantees a system that is seamless and safe.

EzySave+ will allow users with online deposit accounts to earn interest without any initial deposit needed and no maintaining balance. Additionally, it is insured by the Philippine Deposit Corporation (PDIC). For new users, Maybank will provide an additional 5% on the Average Daily Balance (ADB)’s cash credit.

Martha Sazon, GCash CEO & President, said this partnership is a great reflection of the “Finance for All” vision the country is trying to achieve.

The partnership between Maybank and GCash is a step towards digitizing banking services and providing customers with a secure and convenient way to handle their finances.