5 Spooky Money Myths Busted with the help of Maya!

10/26/23

Spooky Money Myths

This Halloween season, Maya, the #1 digital bank in the Philippines, is ready to unmask your financial fears! We're about to bust some common money myths that have been haunting your money moves. With Maya, you can wave goodbye to these misconceptions and master your money effortlessly. 

Myth #1: “Opening an online bank account is tricky and not safe.” 

Many believe that online bank account opening is complicated and poses security risks. However, with Maya, it's as easy as a few clicks. You can open a savings account without any minimum balance requirement, needing only one valid ID. Maya is not only user-friendly but also safe and secure as it’s regulated by the Bangko Sentral ng Pilipinas and deposits are covered by the PDIC up to P500,000, providing peace of mind for your online banking journey.

Myth #2: “Your money sleeps in a savings account.”

Some believe that stashing money in a savings account means it's just sitting there, dormant. Yet, with Maya, your money is anything but idle. Saving with Maya allows you to boost your interest up to 14% p.a. every time you use it for payments. Your money doesn't sleep; it grows as you spend.

Myth #3: “It's hard to save for big ticket items.” 

Saving for big-ticket items can be daunting, but Maya is here to make it easy and fun. Whether it's a dream vacation, your future dream home, or any significant purchase, Maya's Personal Goals feature empowers you to save smartly with a fixed 4% p.a. interest, ensuring your big dreams become a reality. 

Myth #4: “You need a lot of money to invest.” 

Many think that investing is only for the wealthy. But with Maya Funds, you can start your investment journey with as little as P50. You don't need a fortune to begin building your wealth. 

Myth #5: “Borrowing money is bad.”

Many people think that borrowing money is something negative, but the truth is: not all credit or loan products are cursed. Borrowing money can help finance a big purchase or handle an unexpected expense without drying up your savings. This is why Maya Credit is here to the rescue, as it offers up to P18,000 cash in a flash, helping you navigate financial challenges without fear. 

This Halloween, let Maya dispel these money myths haunting your financial journey. It’s time to embrace Maya's suite of financial treats on money management. 

Don’t let any money myth spook you again by learning about proper financial management and Maya. Visit maya.ph and mayabank.ph, and follow @mayaiseverything on Facebook, Instagram, YouTube, and TikTok.