How to Make the Best Use of Your E-Wallets


Millions of Filipinos still prefer shopping and paying bills with cash as opposed to digital or cashless methods. This is due to a variety of factors, including distrust brought about by stories of hacking and scams.

Nevertheless, there are also more and more Filipinos who are beginning to embrace modern payment solutions such as e-wallets. In fact, with increasingly affordable models of smartphones and wider internet coverage, e-wallets have seen a surge in user base and usage frequency in recent years.

Using e-wallets certainly offers plenty of advantages. With just one app, you can already pay bills, send money, and even shop online. You can even perform your civic duties and pay your taxes using your e-wallet. All of these not only make these payment solutions more convenient than cash, but also faster and more cost-efficient.

For more ways on how you can maximize the use of your e-wallet, here are a few practical tips:

Upgrade Your Account

After you create your e-wallet account, you can immediately use its most basic functions. These include paying bills and sending money. However, when you upgrade your e-wallet account, you’ll have access to even more convenient features. One of the best examples is that you’ll be able to increase your daily spending limit up to Php 100,000. This is definitely helpful if you use your e-wallet for everything, from paying your taxes to buying gaming pins.

Aside from increased daily limits, you’ll also be able to access more channels for adding money to your account. You can also instantly transfer funds to others and even withdraw money from ATMs using a physical card linked to your account. The latter is particularly useful when you’re traveling.

Save Frequent Billers

One of the best things about e-wallets is that they have partnerships with a variety of billers. This means you don’t have to go to different establishments or visit a payment center to settle your electricity, water, internet, and telco dues. All you need to do is open your e-wallet app, tap the correct icons, input your payment details, and confirm the transaction. Instead of spending an hour or more commuting and lining up, you can be done paying your bills within minutes at the comfort of your home.

To make things even more convenient, there’s also the option to save frequent billers. Not only does this make fast transactions even faster, but it also prevents costly errors. You can also do this for any biller, not just those that you need to pay monthly. You can also save bank account numbers if you often send money online.

Set Up Reminders

Nothing can be more frustrating than paying penalty fees or getting a service disconnected because you forgot to pay a bill. To prevent this issue, make sure to set up reminders for recurring payments using your e-wallet. This way, you won’t forget a payment deadline ever again.

Aside from bill deadlines, you can also use reminders for money transfers. For example, if you regularly send money to your loved ones, you can create a reminder one day before or on the day itself. For ultimate convenience, you can set-up an auto-debit arrangement for monthly bills and scheduled money transfers.

Look for Promos

Many e-wallets and digital payment companies offer promos to encourage more sign-ups and frequent usage. You can make the most of your account by looking for these promos. One of the most common promotions offered by e-wallets are cashback offers for bills payments. You may also win raffle entries for contests, enjoy discounts for first-time transactions, and more.

Depending on the merchant, you can also enjoy additional benefits when you use your e-wallet to pay for purchases or reservations. For example, you can get free delivery for grocery purchases, free gas, or discounts on hotel room bookings.

Use the QR Scan Feature

To make the most of your e-wallet, use the QR scanning feature as much as possible. This is one of the handiest features of e-wallets, allowing you to go not only cashless but also contactless. Using the QR scan feature speeds up your transactions and makes them safer at the same time. This is particularly important nowadays due to health concerns.

Another benefit of the QR scan feature is that it eliminates errors. There’s no need to worry about typing incorrect details because once you scan the QR code, the account information of the merchant will be automatically captured. Then, all you have to do is input the amount and confirm the transaction. Some merchants also offer the occasional promo (see previous tip) that is exclusive to customers who pay via QR.

The key to making the most of your e-wallets is to track your spending habits. What are your fixed expenses? How often do you shop for your necessities? How often do you make lifestyle purchases? Once you figure out these details, you’ll then be able to make the best financial decisions and maximize every transaction you make with your e-wallets.