Easy Savings Set up in Online Banking

If you have an online banking account, or if your bank offers online access to manage your money, then this article is for you! You can set up a saving scheme in easy steps and let the bank system do the rest for you. Explore your bank’s website or ask their approachable customer supports to help you create one.

For this one, Security Bank Online Banking will be used as an example. Security Bank offers an eSecure Savings Account where you can create an online savings account and hassle-free deposits. Here’s how:

Step 1: Open an Online Savings Account

If you are already registered in online banking, login to your bank’s online website or mobile app. Hover on Accounts and click on “eSecure Savings.” You will be directed to “Open eSS Account” by default. The minimum amount for opening is 500php. Fill in the details and don’t forget to agree on the Terms and Conditions before submitting the form.

Source Account: (your main card account)
Amount: (minimum opening amount is 500php; still included in your savings)
Account Alias: (this is the name of your eSS account)

Next one is the confirmation message to check for any errors and if you really want to create one. Click on “Submit” if you want to change your saving habit. Congratulations, you have opened an online savings account!

Step 2: Make your first deposit and set up a recurring deposits

On the left pane, click on “Deposit to/Withdraw from my eSS.”

Accounts > eSecure Savings > Deposit to/Withdraw from my eSS

Fill in the details needed. The “Amount” refers to the money you want to be automatically deposited to your eSS. This is fixed amount so think thoroughly how much you want to save. This is where the recurring deposits happen. Tick on “Recurring,” choose the frequency (Daily/Weekly/Monthly), and the number of times it will be.

In this example, chosen frequency is monthly and it will start on 15th of January. Number of Payments is 12, which means every 15th of the next 12 months, a recurring deposit of 1000php will be credited to the eSS account from the savings account. The Remarks/Purpose is optional but it’s great to put something like “for my gaming laptop” or “for my dream travel.”

Another confirmation message to check for errors and if you really want to do this. Click Submit if you want to be financially smart. Congratulations! You have successfully made your first deposit and set up your recurring deposits. Your mama is so proud!

Important Reminder!

Read the Terms and Conditions and Required Balance and Interest Rates.

What’s in it for You

The purpose of this article is to teach yourself to save the easiest way possible. Do a living and you wouldn’t even notice you are saving. Talk with your partner if you are committed and make some changes. This will be a big help for you and your family in the future.

  • You can withdraw from your eSS but I strongly suggest not to, unless it’s an emergency. But as much as possible DO NOT TOUCH it.
  • You can delete your eSS savings but please don’t!