first officially BSP-recognized and licensed digital bank in the countryCustomers can now send and receive real-time transactions for up to. To top up a Tonik account, simply go to the “Top Up” options in the app dashboard, choose InstaPay and copy the 14-digit Tonik account number. Once copied, launch the source bank’s mobile app or online banking website, paste the 14-digit Tonik account number and enter the desired amount and other required transaction details.
To transfer funds to another bank, just click on the “Send Money Options” on the app dashboard and select “To another bank.” Change the channel to InstaPay and input the desired cash-out amount, transfer purpose, beneficiary account details, and perform the required authorization. Other banks, however, may have varied transaction fees for InstaPay top-ups so make sure to check with the source bank to make the most out of the transfers.
“This milestone of Tonik provides more opportunities for us to serve the underserved, and together with other financial institutions, the opportunity to serve the unbanked Filipinos who deserve a better banking experience,” adds Krasnov.