Formal account ownership rate Philippines 2019-2021, by account type

Published by
Christy Balita,
Oct 6, 2023
According to a survey conducted in the Philippines in 2021, around 36 percent of the respondents stated that they have an e-money account, making it the most-owned account type in the country. E-money account penetration increased from eight percent during the 2019 survey. In addition, bank account ownership also increased, from 12 percent to 23 percent in 2021.

Share of Filipinos with a formal account from a financial provider in the Philippines in 2019 and 2021, by type of account

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Source

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Release date

August 2022

Region

Philippines

Survey time period

January 13 to February 9, 2022

Number of respondents

1,200 respondents

Age group

15 years old and above

Special properties

among female and male users and non-users of financial products and services

Method of interview

Computer-assisted personal interviews (CAPI)

Supplementary notes

*NSSLA stands for Non-stock Savings and Loan Association.
Multiple answers were allowed.

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