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How to Open SeaBank Account in the Philippines

How to Open SeaBank Account in the Philippines - Life Guide PH

Seabank is the newest addition to digital banks in the country. If you want your money to earn a 4% – 6% interest rate compared to a traditional bank that only offers 0.75% – 1% interest rate.

According to their website “SeaBank is a mobile banking application for your daily financial needs. Earn more interest daily with attractive interest rates, while enjoying seamless transactions on your mobile phone anytime, anywhere.”

They currently offer 6% p.a. Interest Rate (starting June 1, 2022 to September 30, 2022) at no minimum balance, no deposit cap, and no lock-in period. It took me only 10 minutes to open an account with SeaBank.

Requirements for SeaBank Account

  • Phone number or verified Shopee Account
  • Valid government ID
  • Email address

Valid ID that are accepted by SeaBank

  • UMID
  • Driver’s License
  • PhilID (National ID)
  • Postal ID
  • Passport
  • PRC ID
  • SSS ID

*If you select to submit an ID without an address (example: Passport, SSS ID, PRC ID). They require you to submit alternative proof of your residential address.

Steps to Open an Account at Seabank

  1. You can register using a mobile number or a verified Shopee account.
  2. If you use a phone number, enter the mobile number and One-Time Password.
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3. If you use a verified Shopee account it will ask for permission to connect SeaBank with your account.

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4. Start the registration process by undergoing the following:

5. Facial Verification

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6. Upload your valid government-issued ID

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If you have uploaded one of the following: Passport, SSS ID, PRC ID. You will need to present a Proof of Residential Address.

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7. Fill out your personal details.

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8. Next is review and agree with the Terms and Conditions and set up 6 digit PIN.

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9. You have successfully opened an account for SeaBank. You need to wait for 1 working day for them to verify your account.

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REVIEW OF SeaBank

PROS

  • No-fuss registration process
  • Interest rate: 6% p.a.
  • Daily payout of interest
  • Free PesoNet and InstaPay bank transfers
  • PDIC Insured and regulated by BSP

CONS

  • No virtual card as of now

For more information about SeaBank, you check their website’s FAQ or you can contact them thru their customer service hotline and email address

  • (+632) 8891 7927 (Local Hotline)
  • 1800-1-110-2957 (Local Toll-Free for PLDT Landline and Smart Mobile)
  • [email protected]
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