Metrobank has expanded its mobile banking app to allow customers to invest in unit investment trust funds (UITFs), trade government securities, and monitor their investment portfolios.
The bank said the enhanced Metrobank App now incorporates UITF Online and Wealth Manager, placing investment services alongside its existing mobile banking features.
UITF Online gives customers access to more than 25 peso- and dollar-denominated funds covering different asset classes and risk profiles. Users can invest, monitor or redeem their UITF holdings, and download statements of account through the app.
The minimum investment starts at P1,000, although the required amount varies depending on the fund. Available funds will also depend on the currency of the customer’s enrolled Metrobank savings account.
Before investing, customers must watch an educational video, provide the required information, complete a suitability assessment, and designate a settlement account.
Existing UITF Online accounts will automatically appear in the app. Existing UITF investors who have not enrolled in the online service must enroll the settlement account linked to their investment account.
Metrobank’s Wealth Manager, meanwhile, allows customers to buy and sell peso-denominated government bonds in the secondary market, view their consolidated investment portfolio, contact a wealth specialist, and access market and economic reports through the bank’s Wealth Insights platform.
Existing wealth management clients may enroll using their Investment ID, while new clients can apply through the app. Metrobank said applicants should receive an email on the status of their enrollment within 24 hours, excluding weekends and holidays.
Customers must update to the latest version of the Metrobank App to use the investment features. The app is available through Apple’s App Store, Google Play, and Huawei AppGallery.
