Komo Review You Should Know [2022]

Nowadays, people rely on their smartphones to do almost everything daily. Besides, everyone is so busy with their life that they barely have any spare time to go outside to withdraw or deposit their money. That’s why digital banks are blooming so fast. 

Among dozens of neobanks available on the Internet, Komo by Eastwest is the famous one where you can put your trust in. And we are here to tell you all the benefits you can get from this app.   

About Eastwest And Komo 

No corporation wants to be left behind in the digital race, and neither does East-West Corporation. For that reason, East-West recently launched Komo – a brand-new digital bank. 

This makes EWBC able to provide its customers with financial services and an edge over other competing financial institutions. They are first on board when choosing the most useful or necessary technologies.

With the subsidization and support from EastWest Rural Bank, the products are unique. Moreover, it can offer its clients a 3% interest rate when opening and saving money online with any balance.

Since EastWest was established in 1994, it has been cutting edge of innovation for nearly two decades. 

The latest digital initiative is just one example as they continue to find new ways to serve customers and provide them with efficient services that are reliable, secure – all while maintaining their profitability!

komo philippines

EastWest CEO Tony Moncupa praises that this application inherits the strong security from traditional financial institutions and the convenience of Internet banking systems. 

In addition, he claims that this product will be the future in the financing field and proudly announces that customers are choosing the right place to put their money.

Isabelle Yap, the leader of the Komo Project, believes it can be a hit for digital banking usage in the Philippines. He also thinks that this neobank can outweigh its competitors on the market with attractive rates, nearly fee-free, and user-friendly platforms.

Last May 8, 2020, this application received approval from the BSP to launch its Digital Bank Services. 

The company has been working on this project for some time, and it will be worth watching what they have planned because with more details soon revealed, there’s a chance that something big could happen!

Characteristics

EastWest Bank’s new digital service is available through their rural area. 

The idea of this innovative plan was to give customers more control and flexibility when managing money. The need for branches or long lines at ATMs is cut, while free benefits that come with an online account are offered!

Customers can enjoy free withdrawals, secure bills payment, and fund transfer services through the app. In addition, the interest rates on their accounts are high so that you can save money in your pocket!

Services

This app allows its customers to transfer their funds, pay bills, register a debit card, etc. With this assistant, you don’t have to worry about your financial life.

There are two service products and one card product for customers to use:

Savings

This neobank can offer you an interest rate of up to 2,5%, and you can track your savings every second with this app on your phone. Besides, all fees are transparent, and there are no tricks to take money away from your money.

When you deposit your money in this app, you know that you are right, as EastWest has been in the market for more than 25  years.

Komo savings

Insurance

  • Depending on your own needs, this app will customize their insurance programs that will fit you the best and satisfy you with your decision.
  • You can check your insurance anytime and anywhere as it provides 24/7 access. That means you can take a look at your insurance even at midnight.
  • The minimum you must pay every year is just PHP 300. Just save a cup of coffee per day; you can have the seatbelt for your life. What a bargain! 

Card

Suppose you choose the place to open your card based on the fees from services. This app understands you so well that it provides free services and daily charges.

If you have already registered for the debit card, the card will be sent to you within seven days. 

It’s ok if you can not receive the card when the bank tries to deliver in the first three attempts because you don’t have to pay any fee. However, you have to pay PHP 200 if the debit card is delivered for the 4th time.

Komo card

If you want to know more details about the debit card limitation, check out the table below:

ATM balance inquiry No limits
ATM cash withdrawal PHP 20.000 / transaction | PHP 50.000 / day
E-comm purchase PHP 10.000 / transaction | PHP 100.000 / day
POS purchase PHP 10.000 / transaction | PHP 100.000 / day
POS balance Inquiry No limits

How To Download The App?

Just follow these simple steps, you can have it on your mobile phone:

  • Step 1: You can find this app on Google Play, App Store, or App Gallery or type down the website: https://www.komo.ph on the web browser.
  • Step 2: Click on the download button, and when the download finishes, you can open the app;
  • Step 3: For security and clarification purposes, you must answer all the questions and insert OTP code;
  • Step 4: You have to insert your personal information and agree with all terms;
  • Step 5: Choose the password with strong security and easy to remember for you;
  • Step 6: Input your ID number and take a face photo of yours;
  • Step 7: Leave some words about yourself;
  • Step 8: Brainstorm your name that you want to be present on your card;
  • Step 9: When everything has been done, double-check to make sure all your information is correct;

And now, your account is available for usage. This account lasts from 24 to 48 years, as no deposits are needed when opening. By the way, you can only open one account for yourself.

How To Download The Komo App?

Contacts

We, the Support Team,  are happy to answer all your queries and questions, so do not hesitate to call or write us: 

Website https://www.komo.ph
Email hey[@]komo.ph | support[@]komo.ph | hello[@]komo.ph
Phone 0288881777

Conclusion

With all the services this neobank provides that you just go through, we can assure you that choosing Komo is one of the best decisions you ever make. 

Get started using Komo today! Thank you for reading, see you in the next article!

See also: EastWest Bank exchange rate – EastWest Bank Forex Today

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