More Filipino adults now own formal financial accounts, with e-money accounts emerging as the main driver of growth, according to the latest survey conducted by Social Weather Stations for the Bangko Sentral ng Pilipinas (BSP).
The survey found that 58% of Filipino adults aged 18 and above owned a formal financial account in the first quarter of 2026, higher than the 51% recorded in the BSP’s 2025 Consumer Finance and Inclusion Survey.
E-money accounts accounted for the largest share of account ownership, with 43% of adults saying they have one, compared to 21% who reported owning a bank account.
The figures highlight the growing role of digital wallets and other e-money platforms in expanding access to financial services, particularly among Filipinos who may not have traditional bank accounts.
The BSP said the increase in account ownership was seen across all geographic areas, income brackets, and education levels. The survey also found that around one in three adults without an account said another member of their household owns one.
BSP governor Eli M. Remolona Jr. said the central bank would continue pushing broader access to financial services.
“The BSP will continue to broaden access to financial services. This will enable more Filipinos to save, manage their expenses, and improve their overall financial health,” Remolona said.
Despite the increase in account ownership, the survey showed that financial inclusion gaps remain. Among respondents without accounts, the most commonly cited barriers were lack of money, unemployment, and limited knowledge on how to open an account.
The BSP said it continues to promote financial inclusion through financial education programs and the Paleng-QR PH Plus initiative, which also supports on-site account opening activities for merchants and consumers.
According to the central bank, the SWS survey complements findings from the BSP’s 2025 financial literacy survey, which also showed improving financial awareness among Filipinos.
