6 Reasons to Open Multiple Savings Accounts With EastWest Bank

Thanks to decades of favorable macroeconomic growth, Filipinos are now getting banked at unprecedented rates. Indeed, there’s a good chance that you already have multiple bank accounts: one through your employer or school to facilitate payrolls or allowances and a second account for emergency funds or some other designated purpose. 

For many Filipinos, having just one savings account seems to be more than enough. However, opening a new account can make it much easier to achieve specific financial goals. The simple fact that a fund is in a separate account may be enough to keep you from tapping into it like you would on your main savings or payroll account. This allows the fund to get the full benefit of compounding interest, setting it up for better growth potential down the line. 

Even with this clear benefit, your choice of bank still matters when you open new accounts. This is where EastWest Bank enters the picture. A trusted name in Philippine finance, EastWest Bank has the pulse of Filipino families, bringing a host of truly innovative savings products. With a strong commitment to making banking convenient and accessible, EastWest offers sensible savings accounts, user-friendly digital tools like the EasyWay App, and top-level customer service.

To that end, here are a few practical reasons why EastWest Bank is the right choice for opening your next savings accounts.

1. Earn More With Competitive Interest Rates

If you’re going to have multiple savings accounts, you want to make sure that each account’s interest rates are in line with the rest of the banking industry. EastWest Bank offers competitive interest rates across all its savings products, making it that much easier to preserve your wealth and reach your savings goals. Whether you’re opening an account for a business, big-ticket expenses, or your loved ones, you can trust EastWest Bank’s savings products to deliver. 

2. Manage Multiple Accounts Through the EasyWay App

EastWest Bank has created a special lineup of product offerings that make sense for upwardly mobile Filipino savers. These include regular savings accounts, passbook accounts ideal for monitoring household needs, as well as accounts for children and pets. Thankfully, you won’t have to hop between banking apps with EastWest Bank. All of your household’s accounts can be monitored over the EasyWay mobile app for transparency and simplified money management.

3. Simpler Financial Organization

Whatever savings products you choose, opening multiple savings accounts makes it easy to allocate funds for specific goals. For instance, you can open an account dedicated to your yearly vacation, education, or emergencies. 

Having all these accounts under EastWest Bank makes things even easier thanks to the user-friendly EasyWay App. With the EasyWay app, you can easily monitor each account in real time, ensuring you stay on top of your savings goals without mixing or overdrawing your funds.

4. Emergency Fund Readiness

One popular reason for opening additional savings accounts is for maintaining separate emergency funds. Savings accounts are ideal for emergency funds thanks to the simpler withdrawal processes, ensuring quick access to funds when unexpected expenses arise. 

With EastWest Bank, depositing cash into your emergency funds is also fast and hassle-free thanks to the EasyWay mobile app. With just a few taps, you can top up your emergency funds, confident that its future value will be protected by EastWest Bank’s competitive interest rates.

5. Simplified Financial Management for Business Owners

If you run a small business or have multiple income streams, having separate accounts for personal and business use keeps things much more manageable. Outside of consumer savings products, EastWest Bank also provides tailored solutions for business owners, making it a great choice for managing separate cash flows for your business and household.

6. Savings Products Designed for Modern Filipino Families

EastWest Bank’s savings accounts are among the most innovative in the Philippine consumer banking market, with offerings like Save and Pawtect which instantly gives up to Php 50,000 FREE insurance coverage for you and your pet. If you’re a parent, you might also be interested in opening a Kiddie Savings account for your child for just a Php 2,000 minimum initial deposit and maintaining balance. With EastWest Bank, your entire family—pets included—can enjoy better financial security.

Take the First Step to Financial Independence With EastWest Bank

Opening multiple savings accounts with EastWest Bank simplifies your financial life and opens up a new world of savings benefits. With EastWest Bank, saving for specific goals is easier. Whether you’re ensuring your family’s financial security, managing a small business, or trying to take the best care of a furry friend, EastWest’s versatile account options provide you with the perfect solution.

Start your financial journey with EastWest Bank today. Open an account online by downloading and filling out this form, sending it to easyway@eastwestbanker.com, and following the prompts on the confirmation email. You can also visit your nearest EastWest Bank branch to get started. Open an account now to experience next-level banking with one of the Philippines' most trusted financial institutions.