Last Updated: 3 months ago by BrodNeil
HelloMoney is a mobile e-wallet app developed by Asia United Bank that is specially designed for Filipinos. It gives us easy access to digital financial services in a fast, secure, and efficient manner.
Let’s learn more about HelloMoney, its origins, features, and other important information.
What is HelloMoney?
HelloMoney is Asia United Bank’s (AUB) e-wallet app, which offers Filipinos easy access to safe and efficient digital financial services.
To give you a short history, HelloMoney was launched on April 21, 2020, during the COVID-19 pandemic. The company aimed to provide a fast, easy, and secure platform to perform financial transactions with the physical mobility restrictions that consumers are facing during the height of the pandemic.
With HelloMoney, we can conduct online banking transactions anytime using our mobile devices as long as we have internet access. These transactions include opening a prepaid bank account, performing seamless bank transfers, making QR payments and bills payments, sending money through Pera Padala, buying prepaid loads, and many more.
Who is behind HelloMoney?
HelloMoney is entirely operated and owned by Asia United Bank, which is a joint venture between Filipino Industrialists (Jacinto L. Ng, Sr., Luis U. Ang, and Jose S. Sandejas) and Taiwanese investment banks (China United Trust & Investment Corporation and China Development Industrial Bank).
AUB is a full-branch commercial bank that has been operating since 1997. In 2013, it obtained universal banking status and became publicly listed on the stock exchange.
AUB account and a HelloMoney account: what’s the difference?
While AUB owns HelloMoney, transacting with HelloMoney is slightly different from AUB. A HelloMoney account is an e-wallet designed especially for online transactions like fund transfers, QR payments, and online payments. On the other hand, an AUB account allows you to access a broader range of baking transactions, like opening and maintaining checking accounts and time deposits. With an AUB account, you can also avail yourself of other services offered by commercial banks, such as loans, investments, and credit cards.
Both accounts also differ in terms of balances and fees. With HelloMoney, you can open an account with no initial deposit, maintaining balances, and dormancy fees. With an AUB account, there may be initial deposit and maintaining balance requirements, monthly fees, and other conditions.
What are the key features of HelloMoney?
Below are the key features and advantages of HelloMoney:
24/7 online banking
With your HelloMoney app, you can access your account and perform banking transactions anytime, anywhere, as long as you have internet access. You can make QR payments, transfer funds, check your balance, pay your bills, and more using your mobile device.
Easy and hassle-free account opening
Opening an account with HelloMoney is very straightforward and easy. You simply need to download the app, prepare valid IDs, and enter the required information. You don’t even need to make an initial deposit or maintain a certain balance.
QR payments
With HelloMoney, you can make QR payments to local merchants for shopping, dining, and transportation. You can even use it to make QR payments in Japan and South Korea via Alipay+!
Global acceptance
In addition to using your e-wallet account in Japan and South Korea, you may also request a HelloMoney Mastercard for online shopping at over a million online shops worldwide.
Safety and security
HelloMoney features device registration, which allows you to access your account only on the primary registered device. It also features data encryption that protects your information from unauthorized access. Finally, regarding your HelloMoney Mastercard, you are assured of security with the card’s Dynamic CVV (Card Verification Value) and OTP (One-Time Password) request for your transactions.
What transactions can I do with HelloMoney?
AUB’s HelloMoney lets you manage your funds efficiently anytime, wherever you may be. Below are the transactions you can do with your HelloMoney account:
- Deposit to your e-wallet account.
- Transfer funds to other HelloMoney accounts, bank accounts, and e-wallets in real time via Instapay.
- Generate your QR Code and send it to others for seamless fund transfer to your account without typing your account number.
- Transmit money through Pera Padala, which may be claimed at partner merchants, including AUB Branches, LBC Express, Palawan, Cebuana Lhuillier, and M. Lhuillier.
- Pay merchants nationwide using QR codes.
- Use the app to shop in Japan and South Korea via Alipay+.
- Purchase load for prepaid cards, including DITO, Globe, Meralco, PLDT, Smart, and Sun Cellular.
- Pay utility bills, credit card bills, tuition fees, and more.
- Shop online at over a million sites with the HelloMoney Virtual Mastercard.
- Manage your ATM card.
- Withdraw funds from any BancNet ATM or pay at POS terminals with the HelloMoney ATM card.
Is HelloMoney safe?
Using HelloMoney is safe. In addition to its in-app and Mastercard security features, HelloMoney deposits are also insured by PDIC for up to 500,000 per depositor.
What are the requirements for opening a HelloMoney account?
To open a HelloMoney account, you must be at least 18 years old. You need a valid government-issued ID, which you will take a photo of during the application process.
The following valid IDs are acceptable:
- Passport
- Driver’s license
- UMID
- SSS ID
- PRC ID
- Voter’s ID
- Postal ID
- PhilSys ID
During the application process, you will also need to provide basic personal information, such as your name, mobile number, and email address.
How do I open an account with HelloMoney?
One of the benefits of opening a HelloMoney account is that you can open one in just a few minutes without making an initial deposit. To open an account, simply download the app on your mobile device via Google Play for Android, Apple App Store, or Huawei App Gallery. Next, open the app and select “Open an Account,” then follow the succeeding instructions to process your account opening.
How do I add funds to my HelloMoney account?
You can cash in to your e-wallet via the following channels:
- Over-the-counter cash deposit at any AUB branch,
- Transfer funds from other HelloMoney or AUB accounts,
- Transfer funds from other banks in the Philippines via Instapay.
- Top-up via ECPay in 7/11 branches nationwide
For 7/11, the maximum cash-in amount per transaction is P10,000, with a transaction fee of P15. The maximum cash-in amount for the rest of the channels is P25,000, with no daily limit.
Can I receive remittances from abroad with my HelloMoney account?
Yes, you can receive remittances with your HelloMoney account with a 2-3 day processing period. However, the company encourages you to advise your remitter to send the funds via partner banks and remittance centers, as well as correspondent banks. This will help ensure a safer and more efficient remittance transaction to your HelloMoney Account.
Here is a link to the AUB-accredited tie-up banks and remittance centers list: https://www.aubgintonghatid.com/pages/index.cfm?Action=tieuplist.
Here is also the list of correspondent banks: https://www.aubgintonghatid.com/pages/index.cfm?action=read&article=nostro.
How much is the interest rate for HelloMoney deposits?
Because HelloMoney is an e-wallet and not a deposit account, you will not earn any interest for your deposit.
How much are the opening and maintaining balances for a HelloMoney account?
HelloMoney features convenient and hassle-free banking without any required opening and maintaining balances. Your HelloMoney account also has no dormancy fees.
How do I withdraw from my HelloMoney account?
Below are some options to withdraw money from your account:
- HelloMoney ATM card. With the HelloMoney ATM card, you can withdraw from any BancNet ATM nationwide free of charge.
- Pera Padala. You may also cash out via the Pera Padala feature in your HelloMoney app by selecting the “I am the beneficiary” option. You may claim your funds at AUB, Cebuana, M Lhuillier, Palawan, or LBC branch. Please note that fees will apply depending on your choice of remittance partner.
- Fund transfer. You can also cash out by transferring your funds to another bank and withdrawing them from that bank account. Charges may also apply.
How do I avail of the HelloMoney ATM card?
To avail of a HelloMoney ATM card, visit any AUB branch near you. Bring a valid ID and prepare P100 for your annual fee payment. With your HelloMoney ATM card, you can withdraw money from your account nationwide via BancNet ATMs and make BancNet POS payments all over the country.
What is the HelloMoney Mastercard?
HelloMoney Mastercard is a virtual prepaid card linked to your e-wallet. It allows you to make cashless payments for online shopping at over a million sites worldwide that accept Mastercard. You can also enjoy Mastercard’s promotions for shopping, dining, and travel.
Please note that you will be charged an annual fee of P100 for your HelloMoney Mastercard.
How do I activate my HelloMoney Mastercard?
To activate your Mastercard virtual prepaid card, follow these steps:
- Log in to your account.
- Look for the “Virtual Mastercard” icon just between “ATM Card” and “Scan QR.” Tap the icon.
- Select “Subscribe to HelloMoney Mastercard” and then tap “Proceed.”
- Tap “I Agree” on the terms and conditions.
- Enter your password to confirm.
Can I use my HelloMoney ATM card to buy online?
For online purchases, you may use your virtual Mastercard. Your HelloMoney ATM card can only be used for ATM withdrawals and POS transactions.
What bills can I pay with HelloMoney?
With your HelloMoney prepaid account, you can pay bills to over 100 billers nationwide, including utilities (electric, water), telecoms, cable and internet, credit cards and loans, real estate, schools, corporations, and charities.
You can check out your app’s “Pay Bills” feature to see the full list of billers.
Is there a bills-payment fee in HelloMoney?
HelloMoney does not charge any fees for the bills you pay. However, some billers may charge a service fee to process your payment.
Will my payment reflect instantly on the biller?
Payments made through HelloMoney are usually posted within 1-3 banking days. You may check with your biller to confirm payment posting.
How can I generate my HelloMoney account QR code?
Follow the steps below to receive cashless payments from other e-wallets, banks, and merchants:
- Log in to your HelloMoney account.
- To generate your QR code, tap “My QR” on your home screen.
- If you wish to specify a transaction amount, type it in the specified space and click save. Otherwise, proceed to the next step.
- The sender may scan the QR code directly from your phone’s screen and seamlessly send you funds. Otherwise, you may send the QR code by tapping “Save QR Image” at the bottom of the screen and sending the image from your phone’s gallery.
Final thoughts on HelloMoney
HelloMoney is a convenient e-wallet option for us Filipinos. It offers features such as 24/7 mobile banking, hassle-free account opening, QR payments, and global acceptance with safety and security measures. It allows us to seamlessly transfer funds, make QR payments, process online purchases, and many other transactions. Without the initial deposit and maintaining balance requirements, it is very accessible to many Filipinos.
In our experience, we tried receiving client payments in real time to our HelloMoney account from wise.com’s wire transfer, which makes it a convenient option for those receiving remittances or payments from international clients. However, we could not use HelloMoney as a payment method for Google Workspace.
All in all, HelloMoney offers Filipinos a safe, efficient, and affordable way to manage funds using mobile devices.