More young Filipinos are choosing to save through their smartphones instead of at a bank branch, according to Metrobank, with Gen Z and millennials making up more than 87% of all eSavings accounts opened since the beginning of the year.
The figures reflect how digital banking has become part of everyday life for many younger customers. Beyond paying bills or transferring funds, they’re increasingly using mobile banking apps to set aside money and manage their finances.
The shift is especially evident in Metro Manila and Region IV, which account for nearly half of Metrobank’s eSavings customers. Women also make up the majority of account holders, pointing to strong adoption among digitally connected, working-age Filipinos.
While convenience is a major factor, Metrobank believes changing financial priorities are also shaping the trend.
Many young adults are entering the workforce, helping support their families, or saving for future goals such as buying a home or starting a business. For many of them, opening a savings account is one of the first financial decisions they make.
Rather than treating saving as a separate task, many customers now build it into the same app they already use for day-to-day banking.
That shift has also influenced how banks design their digital services.
Digital banking expands beyond payments into wealth building
IMAGE CREDIT: Magnific
In Metrobank‘s case, customers who open an eSavings account online can also place funds in an Online Time Deposit or access Unit Investment Trust Funds (UITFs) through Metrobank Online without visiting a branch.
The bank said bringing savings and investment products into a single digital platform allows customers to move more easily from setting aside emergency funds to pursuing longer-term financial goals.
Metrobank is also running an eSavings promotion until Sept. 30, 2026, offering a ₱100 Lazada Gift Card to new customers who open an account through the Metrobank App and successfully register for the campaign, subject to its terms and conditions.
The latest figures mirror a broader trend across Philippine banking, where digital channels are increasingly becoming the starting point for younger Filipinos beginning their financial journey.
As banks continue expanding their online services, opening a savings account is becoming less about visiting a branch and more about tapping a screen.
Metrobank is regulated by the Bangko Sentral ng Pilipinas (BSP). Deposits are insured by PDIC up to ₱1 million per depositor.
