EastWest is highlighting its digital banking security features and encouraging customers to adopt safer online habits as digital payments become increasingly common in the Philippines.
Through its EasyWay digital banking platform, the bank provides security measures such as biometric authentication, One-Time Password (OTP) verification, encryption, transaction notifications, and card management controls to help customers monitor and protect their accounts.
EasyWay also offers EasyLock, which allows customers to set aside a portion of their balance that cannot be used for online or digital transactions until it is unlocked. Principal EastWest credit cardholders can use the Lock/Unlock feature to temporarily stop new purchases and recurring charges on their linked cards.
Additional safeguards under EastWest’s Banking Made Safer program include Emergency Shield, which allows customers to suspend digital banking access and outgoing transactions if they suspect account compromise, and a Transaction Pause Period, which automatically pauses digital transactions for 24 hours following certain sensitive account changes, such as updates to a registered mobile number, email address, or device.
The bank also implements Temporary Holding of Funds, which may place funds involved in disputed or potentially unauthorized electronic transactions on hold while verification is underway.
EastWest CEO Jerry Ngo said the bank continues to invest in safeguards that give customers greater visibility and control over their accounts while keeping digital banking accessible.
The need for stronger protection comes as digital payments continue to grow. Bangko Sentral ng Pilipinas data showed that digital payments accounted for 52.8% of retail payment transactions in the Philippines in 2023, up from 42.1% in 2022.
EastWest advises customers to keep passwords, OTPs, card details, and CVVs confidential, avoid suspicious links, use trusted banking channels, keep devices updated, and regularly review account activity. Customers who lose a card or suspect unauthorized access should contact the bank immediately.
The bank’s initiative highlights how digital banking security tools, transaction controls, and customer awareness can help reduce exposure to online fraud.
