About bank
Metrobank Foundation Inc. was founded to focus on commercial achievement and philanthropic services. The foundation has since become one of Asia's most prestigious charitable organizations.
When Metrobank obtained its universal banking license and was listed on the Philippine stock exchange in 1981, it significantly increased its equity stakes in domestic and foreign subsidiaries. In 1986, it founded the unibancard corporation, which is now Metrobank card corporation, as its credit card provider. Toyota Motor Philippines Corporation was founded in 1988 thanks to a joint venture between Metrobank and Mitsui Corporation, one of Japan's biggest automakers.
Features
Metropolitan Bank & Trust Company has grown to become one of the Philippines' leading universal banks and financial institutions. With a more than 50-year history, it aims to provide meaningful financial services to Filipinos everywhere. Its product portfolio is diverse, encompassing investment banking, thrift financial services, leasing and funding, bancassurance, and credit cards. It also provides a full range of services to large local and international corporations, middle-market and small and medium-sized enterprises (SMEs), high-net-worth individuals, and the retail sector.
Pros and cons
Although Metrobank offers a diverse range of services and products, like any other company, it also has advantages and disadvantages, which are addressed below.
Pros
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You can keep your valuables safely and worry-free with Metrobank.
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They offer many services for personal use, businesses, and private wealth management.
Cons
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Most of their services are offline, which means you will have to go through the hassle of long queues and other in-branch stress.
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They charge higher fees and interest rates on their financing products compared to competitors.
Products
The products and services offered by Metrobank includes:
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Savings and checking accounts. These accounts include regular savings and checking accounts, earnest digital accounts, pensioner accounts, OFW accounts with a debit card or passbook, accountOne, special savings accounts for individuals (PHP, USD, and third currencies), and park savings accounts. The initial deposit for most of these accounts is ₱2,000, and the interest rate is 0.0625%.
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Management services. This includes:
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Digital services. With this service, you can conduct meaningful banking anytime and anywhere. Access your accounts whenever and anywhere you want using a web browser and any device.
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Remittance services. You can send money to Metrobank and other bank accounts quickly through worldwide remittance centers, subsidiaries, and partners.
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Trust and escrow. This tool allows Metrobank to manage your assets and liabilities, giving you complete control over your finances. You can rely on them as your financial associate who will handle everything for you. Metrobank also provides Escrow services, which will assist you in preparing the relevant documentation and safeguarding the cash until they are ready for release.
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Upgrade services. This includes loans, assets for sale, and credit cards
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Investment services. The investment services include wealth management, fixed income, stock trading, and mutual funding.
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Insurance services. This includes life and health insurance.
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Business deposits. Just like general deposit accounts, the bank also offers similar services to businesses. This includes business savings, current, and time deposit accounts.
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Loans. The bank offers personal lending products like home, personal, and car loans. Apart from that, they also offer business lending products like a credit line, term loan, and working capital loan.
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Personal loan. You can obtain a Metrobank personal loan with rates as low as 1.25% monthly add-on and payment lengths of up to 36 months. The loanable amount is up to ₱1m.
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SME products and services. Metrobank claims they can assist you whether you want to increase your working capital or require money for business expansion. They also claimed five decades of expertise assisting businesses, so you can trust them to meet your needs.
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InstaPay and PESONet. On Metrobank online and the Metrobank mobile app, you can use InstaPay and PESONet to transfer money, pay bills, and top up your e-wallet. InstaPay allows you to make real-time transfers of up to ₱50,000 daily. PESONet allows up to ₱200,000 with a daily cut-off of at 3 pm.
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Other products include:
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Credit cards
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Fixed income investments
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Metro asset management
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Fraud prevention
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Financial education
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Business advisory and financing
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Risk management
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Metrobank Payroll Plus
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