GoTyme Digital Bank Overview: Interest Rate, Fee, Promos

Photo for the Article - GoTyme Digital Bank Overview: Interest Rate, Fee, Promos

Digital banks provide financial products and services through digital platforms and channels, minimizing reliance on physical touchpoints. These banks were officially recognized by the Bangko Sentral ng Pilipinas (BSP) as a distinct category within the banking sector in 2020. 

There are currently 6 active digital banks; this article will be focused on GOTyme, the country’s fifth digital bank.

(For more, check out (May 2024) List of Digital Banks With High Interest Rates in the Philippines and Maya Interest Rate 2024 | Promotions | Overview)

GOTyme Overview

Photo for the Article - GoTyme Digital Bank Overview: Interest Rate, Fee, Promos

GOTyme secured its license in August 2021; it is a joint venture between the Gokongwei Group and Singapore-based Tyme. Its Certificate of Authority was granted on July 29, 2022, marking the final stage in establishing the digital bank. 

Users can access the bank through an app, available in the Apple App Store and Google Play Store, or through its 462 kiosks and 1,400 bank ambassadors nationwide.

In August 2021, the digital bank announced that it had attained one million customers. it attributed its accomplishment to the rapid onboarding of customers, which was facilitated by leveraging the robust reputation and trust associated with the Gokongwei brand.

Last December, GOTyme reported that it reached the 2-million customer milestone.

On a March 31, 2024 disclosure, the Bank of the Philippine Islands (BPI) announced its decision to sell its recently acquired 15% stake in digital bank GoTyme, citing potential conflicts of interest arising from similar product offerings. The sale involves transferring the stake to GoTyme Financial Pte. Ltd. and Giga Investment Holdings Pte. Ltd. for ₱902.46 million.

Recent News: Forex and Crypto Product Soon?

Recently, GoTyme announced it plans to expand its offerings to include more credit and investment services by the end of the year, with a focus on cryptocurrency trading pending regulatory approval. 

Moreover, it also aims to target young millennials and Gen Z with new products like a QR-based consumer credit card. As for its expansion into Vietnam, this is slated for the fourth quarter, initially with one product, with announcements expected in the third quarter.

Additionally, the bank plans to introduce a foreign exchange product enabling users to invest in US dollars for three- and six-month terms, with a minimum investment as low as $10 and an interest rate of up to 3.5%.

Services Offered

GOTyme implements a human-centric “phygital” model. The website highlights that a “real human” will assist customers with their inquiries, “no bots, guaranteed.”

Moreover, its users can also enjoy free deposit or withdrawal transactions through designated cashiers at Robinsons Supermarket, Robinsons Department Store, or selected Robinsons Retail brands. There are also free withdrawals using the debit card at any Robinsons Bank ATM.

Further, GOtyme has ensured that the Philippine Deposit Insurance Corporation (PDIC) offers deposit insurance coverage of up to ₱500,000 per depositor.

GoTyme Interest Rate

In the past, GoTyme provided a 5% interest rate, but the website now specifies that users can access a 4% per annum savings interest rate via the Go Save account, effective from March 1, 2024.

In addition, they can create up to five separate Go Save accounts, each customizable with target amounts and timeframes. 

As per the website, if a customer closes their Go Save account before the interest crediting date, they automatically forfeit the accumulated interest for that month. To retain the interest, users can withdraw funds while keeping the account open until the interest is credited.

GoTyme Transaction Fees

Go Bank Transfers to other local banksFree up to 3 times per week
Transfer to other GOTyme accountsFree
Outgoing international transferNot available yet
Incoming international transferFees may vary depending on the platform and source country
Bills payment transactionsGoTyme Bank doesn’t charge for bill payments, but additional fees may apply from certain billers
ATM WithdrawalsSubject to the bank’s ATM fees
Deposits via linked bank accountsThe first 2 deposits per month are free; subsequent deposits incur a 1% fee based on the deposited amount for BPI, and PHP 8.00 for other local banks.
Deposit and Withdraw at Robinsons SupermarketFree
Fund transfers to Robinsons Bank accountsFree
Fund transfers to other local banks and e-wallets via InstaPay and PESONetFree for the first 3 transfers per week, then exceeding transfers are charged ₱8 per transaction. (Three free transfers weekly reset every Monday 12AM.)

GoTyme Promotions

GoTyme Go Rewards

Referral program

During the promo period from December 15, 2023, to June 30, 2024, GoTyme Bank offers a referral program for selected media partners, online influencers, content creators, and community leaders, along with new users. Existing GoTyme account holders selected as partners based on collaboration with the bank can share a unique referral code with new users. 

These new users must use the referral code when opening a GoTyme Bank account and complete a physical debit card transaction of at least Php 100 within 7 days. Both the partner and friend receive 100 Go Rewards points upon successful transaction.

GoTyme x Agoda x Visa

The promotion offers an 8% discount on hotel bookings worldwide when made with an eligible VISA card. It’s valid until December 31, 2025, for stays until March 31, 2026. 

Only VISA cardholders in the Philippines can avail, settling payments with their VISA card. The discount applies to selected hotels and specific room types. It’s non-transferable, non-cumulative, and cannot be combined with other discounts. The discount will be visible after entering a valid VISA card number.

How to open a GoTyme account

Clients have the option to initiate an account through the GoTyme Bank app or at any of its 367 kiosks. Upon successfully establishing the account, the user will be provided with a complimentary ATM debit card.

To open an account, applicants only need to provide a standard Philippine-issued ID and a valid mobile number. 

GoTyme Contact Details

Facebook page
Telephone#GO8888 (#468888)
Customer Service
Bank AmbassadorGOTyme Physical Kiosks 

Read more: List of Digital Banks With High Interest Rates in the Philippines

This article is published on BitPinas: Digital Banks in the Philippines: GoTyme Overview


  • Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
  • BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.