Mobile wallets are amazing apps. They let you do a number of tasks that you usually have to go out for right at the comfort of your own home. Using only your smartphone, mobile wallets allow you to do the following activities:
- Send money to other mobile wallet accounts
- Send money to bank accounts
- Pay a variety of bills
- Buy discounted prepaid load and mobile data packages
- Buy tickets and gaming pins
However, you can’t do all of these tasks if your mobile wallet doesn’t have enough credits. Luckily, there’s no shortage of safe and secure ways on how to cash in to your mobile wallet. The number of methods available to you will usually depend on whether or not your account is verified and upgraded.
The most common methods to add money to your mobile wallet are listed below. Also included are some pros and cons, so you can decide which one is the best for you.
Linked Bank Account
For ultimate convenience, you can link your bank account to your mobile wallet account. This will facilitate mobile or online money transfers through InstaPay or PESONet. Many of the Philippines biggest and most popular banks are members of InstaPay or PESONet, so you likely won’t have issues finding your bank.
Do note that you usually have to have a verified mobile wallet account before you can link your bank. This is for security purposes, to ensure that you really own both accounts. Once the process is completed, you can transfer money anytime and the amount will be credited to your account instantly.
Pros and Cons
Adding money to your mobile wallet via online or mobile banking is easy and hassle-free. Everything is online as well, so there’s no need to go to top-up centers. The obvious “downside” is that not every Filipino has a bank account. If you happen to be unbanked, you have to use other methods.
Financial Services
If you don’t have a bank account, you can opt to top-up your mobile wallet account through financial services like ECPay or ZoomPay. You can do this by logging in to your mobile wallet account and then tapping on the logo of the company. Input the amount you want and you’ll receive a code.
This code is what you have to input when you visit a kiosk of the particular financial services company. Then, you have to insert the exact amount into the machine. You’ll receive an SMS confirmation once the amount is credited to your mobile wallet account.
Pros and Cons
One benefit of adding money to your mobile wallet this way is that it’s partially online. This helps make the process shorter and therefore more convenient. The main drawback is that there may not be a nearby kiosk in your location.
Convenience Stores
You can also add money to your mobile wallet through convenience stores. The same procedure mentioned above applies, although you will be issued either a barcode or a numerical code depending on the convenience store. There are also certain convenience stores that allow you to add money through SMS.
Once you have the barcode or numerical code, visit the convenience store and go to the assigned kiosk. Select the correct option on the machine, scan or input the code, and you’ll receive a receipt. Bring this receipt to the cashier, pay the amount, and it will be credited to your mobile wallet.
Pros and Cons
The primary advantage of adding money through convenience stores is the sheer number of branches. The stores also have longer operating hours, so you can add money in case of an emergency. The downside is that there are quite a lot of steps to follow, so it will take longer to top-up.
Department Stores, Bayad Centers, Remittance Centers, and Pawnshops
If, for any reason, you don’t have access to your mobile wallet app (or if you need to send money to someone else’s account), you can do so through business centers. These include the customer service desks in malls, bayad centers, and remittance centers.
All you have to do is fill out the corresponding forms with the amount and the account number, then present a valid ID for verification. After you make the payment, you’ll receive an SMS confirmation that the amount has already been credited to the mobile wallet account.
Pros and Cons
This method of adding money to your mobile wallet is convenient, especially if you’re already running errands outside. There are only a few steps, which means it’s really easy to follow. On the other hand, because this method isn’t dedicated to adding money. Therefore, you may share a long line with other customers who need other services.
Other ways of adding money to your mobile wallet include self-service kiosks and Smart Padala. The latter is particularly convenient if you or the recipient is located in areas with limited banking services or other establishments.
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| transferring money from bank to mobile wallet for easy-peasy online shopping |
As you can see, the “best” way to add money to your mobile wallet depends on your current situation. The most convenient would be through mobile or online banking, but there are times when that isn’t available (e.g., due to maintenance). When this happens, you can still be confident that there are other ways you can top-up your account.
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