Komo is a digital banking service offered by EastWest Bank. It allows customers to open and manage their accounts completely online. This means all transactions and account management can only be done through the app. They offer a savings return with lower overhead cost to customers in the form of high interest rates on their savings account.
You are not required to have an existing EastWest account to open a Komo account. You just need to complete the required personal information and submit one valid government ID for account verification.
A Komo debit card will be issued which you will be able to linked to your deposit account. The physical card will allow you access to your deposited funds 24/7 through withdrawals, purchases and other transactions done through the internet, ATMs or Point-of-Sale (POS) terminals, subject to the daily limits set by the Bank. This card will be delivered to the given address after your account has been activated.
Komo has the following features:
Save money with high interest rate of 2.5% per annum
Cash-in and Cash-out features
Bills Payments
Insurance
Physical Debit Card
No Komo app yet?
Click the icon below to download the app to your smartphone via Google Play for Android users and App Store for iOS users.
Open a KOMO Account online
KOMO Features
DEPOSIT MONEY. This feature is still not enabled. But, you can still fund your account using other local bank and e-wallet accounts. Using bank transfer (via InstaPay), you can send money to Komo account by selecting Komo/EastWest Bank in the bank option. Save your money and earn up to 2.5% interest per year.
INSURANCE. Customize your own protection plan.
MONEY TRANSFER. Send money to participating local banks and e-wallets account.
PAY BILLS. Pay utility bills and services.
DEBIT CARD. Activate Debit Card and link to your account.
For more information, visit Komo website, https://www.komo.ph/ and read Terms and Conditions on using the app.