Q: What is Netbank?
A: Netbank Rural Bank, Inc. is a fully licensed rural bank regulated by the Bangko Sentral ng Pilipinas (BSP), authorized to provide general banking services, including managing the Atome Savings account under a white-label partnership.
Q: Is Atome Savings safe?
A: Yes, security is a priority. Atome Savings is protected by multi-factor authentication, and the balance of the deposit account is insured by the Philippine Deposit Insurance Corporation (PDIC) up to PHP 1,000,000 per depositor.
Q: What can I use Atome Savings for?
A: You can manage all your money in one place. This includes receiving and transferring funds, saving to earn interest, and conveniently repaying your Atome Card and Cash Loan bills.
Q: Who can sign up for Atome Savings?
A: Atome Savings is currently available to selected users who have completed their account registration with Atome. More slots are expected to open soon.
Q: How much is the minimum initial deposit and lock-in period?
A: There’s no minimum initial deposit and no lock-in period, providing full flexibility over your money.
Q: What type of account will I get upon registration?
A: You will receive a Regular Savings Account upon registration.
Q: How is the interest calculated on my Atome Savings account?
A: Interest is calculated daily based on your end-of-day balance (between 12:00 AM and 1:00 AM) and is credited to your account every day. A 20% withholding tax is applied separately.
- Daily interest = End-of-day balance × interest rate × (1/365)
- For new accounts, interest starts accruing 24 hours after your first deposit is made. No interest is earned on the day of activation.
- On the second day, interest credit is based on the average end-of-day balance of the first two days.
- From the third day onwards, interest is calculated daily based on your end-of-day balance.
Q: When will I receive the interest earnings?
A: Your interest earnings will be credited to your account daily, after the end of the day.
Q: What are the deposit and fund transfer fees?
A:
- Deposit fees: Free from other Netbank accounts. Over-the-counter deposit is PHP 18 per transaction (currently unavailable). For transfers from other banks/e-wallets, applicable fees are set by your provider.
- Fund transfer fees: Free to other Netbank accounts. PHP 10 per transaction for transfers to other bank accounts or e-wallets via InstaPay or PESONet.
Q: What are the fees to maintain my Atome Savings account?
A: There are no fees for maintaining your Atome Savings account.
Q: Can I withdraw funds from my account via ATM?
A: At the moment, ATM withdrawals are not supported. Only online fund transfers to other bank accounts or e-wallets via PESONet, InstaPay, or direct transfers to other Netbank accounts are available.
Q: What is the SWIFT Code and Bank Code for Atome Savings account?
A: International fund transfers via SWIFT are not enabled for Atome Savings at the moment.
