Security Bank Features (A Short Review)

Surprisingly, the money that I have transferred form PayPal to my Security Bank account only took three (3) business days which is awesome. Unlike the other bank I’ve tried, the transfer takes as long as 5 days.

Aside from the transfer, I’ve also decided to create an e-Secure Savings which allows my money to earn interest starting at PhP 5,000. I have yet to see how it would fare so, I’ll be posting some updates as well how this one goes.

As for the other features, what I like most is how every transaction or change requires a One-Time-Password (OTP) which ensures the account security. From changing phone numbers, to enrolling other accounts/mobile number for reloading, they’ll all require an OTP.

Together with the OTP, I like Security Bank’s e-give Cash which allows me to send money to anyone via my online portal. I don’t have to go through long lines in Western Union, and pay for additional fees for sending. I personally hate going to “Padala” centers as I always have some other important things to do.

I sent money to my mom earlier and she received the 16-digit code in her mobile phone while I forwarded the passcode to her. All she needed to do was to go to a Security Bank ATM, punch in the codes she got to claim the money I sent. Easy right? She didn’t have to wait in line, fill-out forms, and present ID.  After my mom claimed the money, I also received a confirmation through SMS that the money has been claimed. I didn’t have to ask her to know if she claimed it or not. Some might think that having it setup this way may actually pose security risks as my mom might not be the one I’m sending the money to. But of course, I called her before and after I sent the money just to confirm.

Has any one of you got any experience banking with Security Bank? How was it? Feel free to add your comments!