VBank

What VBank does

VBank (Vigan Banco Rural Incorporada, VBRI) is a BSP-regulated rural bank incorporated and headquartered in the Philippines. It was founded on January 30, 1984, registered with the SEC in December 1984, and began operations on November 18, 1985 under Certificate of Authority to Operate No. B 1061 from the Monetary Board. The bank is a 100% Filipino-owned private corporation, currently structured with nine stockholders and 15 officers and employees. It maintains a Luzon-focused service footprint anchored at 115 Salcedo Street, Vigan City, Ilocos Sur, with a Data Protection Officer office in Pasig City, and targets three primary segments: Overseas Filipino Workers (OFWs), unbanked and underbanked Filipinos, and general retail customers seeking digital banking with fraud protection. PDIC deposit insurance covers accounts up to ₱1,000,000 per depositor as of March 15, 2025.

VBank's core product portfolio is delivered through the VBank Mobile App (iOS and Android) and consists of two savings account variants — the Panatag Account (interest-bearing, full KYC, no limits) and the Pasimula Account (non-interest, ₱50,000 cap, simplified KYC, upgradable to Panatag) — supplemented by a Physical Debit Card and a Regular Time Deposit Account with a 15-day cooling-off period. The platform integrates with PESONet (batch) and InstaPay (real-time) domestic payment rails, with scheme-wide fraud-prevention data sharing, and extends cash-in/cash-out access through an agent banking network of convenience stores, supermarkets, pawnshops, and remittance centers, plus formal partners ECPay (₱25 cash-in) and Bayad Center (₱20 cash-in/out). Credit bureau and telecom data integrations support credit scoring and AML/sanctions screening. The bank's stated differentiator is its Fraud Recovery Service: mobile-app transaction flagging, immediate recovery steps, and legal action against fraudsters via law enforcement — a positioning distinct from traditional Philippine incumbents.

VBank's revenue model rests on three streams: interest income on Panatag Account deposits (computed on Average Daily Balance or End-of-Day Balance and credited daily), transaction fees on cash-in/cash-out and PESONet/InstaPay/P2P QR/Scan-to-Pay transfers (₱12–₱25 per transaction), and one-time physical card issuance fees (₱200). Customer acquisition is product-led growth via the mobile app, amplified by organic social presence on Instagram, Facebook, X, LinkedIn, and YouTube. Go-to-market is hybrid: digital-first with the app as primary channel, complemented by nationwide physical agent points for cash access.

Name

VBank

Legal name

Vigan Banco Rural Incorporada

Website

https://vbank.ph

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

11–50 employees

Short description

VBank (Vigan Banco Rural Incorporada) is a BSP-regulated rural bank in the Philippines offering mobile-first digital banking — interest-bearing and basic savings accounts, debit cards, and time deposits — via a mobile app and nationwide agent network, primarily serving Overseas Filipino Workers (OFWs) and unbanked/underbanked Filipinos with a distinctive fraud recovery service.

Ownership category

akta.pro rank

Product category

Digital Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Cross-border/Remittance Neobanks (FSABAFAH), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Digital banking services
• Mobile savings accounts
• Domestic fund transfers
• Rural banking
• Agent banking network

Headquarters

HQ city

Vigan

HQ country

Philippines

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Interest Income: Interest earned on Panatag Account deposits at prevailing rates, computed based on Average Daily Balance (ADB) or End-of-Day (EOD) Balance for mobile savings
2. Transaction Fees: Fees charged for cash-in, cash-out, transfers via InstaPay and P2P QR, scan to pay, card withdrawals, and balance inquiries
3. Physical Card Sales: Physical debit card issuance including delivery fee

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

VBank is a BSP-regulated rural bank that delivers digital-first banking services through its VBank Mobile App, offering two peso savings account variants — the interest-bearing Panatag Account (full KYC) and the non-interest Pasimula Account (₱50,000 limit until full KYC). Customers can transfer funds domestically via PESONet and InstaPay, load and withdraw cash through a nationwide agent network (ECPay, Bayad Center, convenience stores, supermarkets, pawnshops, and remittance centers), request an optional physical debit card, and access a Regular Time Deposit Account with a 15-day cooling-off period.

Product overview

VBank (Vigan Banco Rural Incorporada) is a BSP-regulated rural bank that provides digital banking services primarily through its VBank Mobile App, supplemented by a nationwide network of agent banking partners (convenience stores, supermarkets, pawnshops, remittance centers). Its core product portfolio consists of two savings account variants — the interest-bearing Panatag Account (full KYC) and the non-interest Pasimula Account (basic, ₱50,000 limit, for not-yet-fully-KYC'd customers) — both accessible via the VBank Mobile App. Domestic payments are powered by PESONet and InstaPay payment rails. Optional add-on products include a Physical Debit Card and a Regular Time Deposit Account with a 15-day cooling-off period.

Differentiator

Problem solved

Functional benefit

Brands

• Panatag Account: Interest-bearing savings account with full KYC requirements. A full bank account that may earn interest at prevailing rates.
• Pasimula Account

Products and services

• Panatag Account An interest-bearing full peso savings account with complete KYC requirements. May earn interest at prevailing rates, offers full deposit/withdrawal and fund transfer capabilities, and carries no account limits once fully verified. Protected by PDIC deposit insurance up to ₱1,000,000.
• Pasimula Account A non-interest-bearing basic savings account designed for customers who have not completed full KYC. Capped at a ₱50,000 limit. Customers may upgrade to the Panatag Account upon completing full KYC verification.
• VBank Mobile App Digital mobile banking application providing real-time account access, security controls, transaction alerts, and fund management. Available 24/7 on iOS and Android. Enables account opening, fund transfers via PESONet and InstaPay, cash-in/cash-out via partner networks, mobile card management, and in-app fraud transaction flagging.
• Physical Debit Card Physical debit card issued by VBank for ATM withdrawals (₱12.00 per transaction), balance inquiries (₱2.00 per transaction), and point-of-sale transactions. Card issuance fee is ₱200.00 including delivery.
• Regular Time Deposit Account Fixed-term peso deposit account with a 15-calendar-day cooling-off period during which pre-termination carries no penalty. After the cooling-off period, pre-termination applies the prevailing savings deposit rate. Subject to documentary stamp tax.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• ECPaycoreChannel Partner/ Reseller/ DistributorCash-in partner enabling customers to add funds to VBank accounts via ECPay network. Fee: ₱25.00 per transaction.
• Bayad CentercoreChannel Partner/ Reseller/ DistributorCash-in and cash-out partner enabling customers to deposit and withdraw funds at Bayad Center locations nationwide. Fee: ₱20.00 per transaction.
• PESONetcoreTechnology or IntegrationDomestic fund transfer rail enabling batch electronic credit to participating banks and e-money issuers.
• InstaPaycoreTechnology or IntegrationReal-time domestic fund transfer scheme for instant payments to participating banks and e-money issuers. Supports fraud prevention data sharing among scheme participants.
• Agent Banking Partners (Convenience stores, supermarkets, pawnshops, remittance centers)coreChannel Partner/ Reseller/ DistributorExtensive network of agent banks nationwide that provide accessible banking transaction points beyond traditional bank branches. VBank emphasizes this network will be wider than traditional bank branch networks.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Maya Bank: Maya is a leading Philippine digital bank offering mobile-first savings, payments, and credit products to consumers and SMEs. It directly competes with VBank for the same digital-first Filipino deposit and payments customer, but at significantly larger scale and with broader product scope.
• CIMB Bank Philippines: CIMB operates a digital-first savings model in the Philippines with no-branch deposit products via mobile app. It targets similar mass-market Filipino deposit customers but with significantly stronger funding, product breadth, and brand recognition.
• Komo by EastWest Bank: Komo is the digital banking platform of EastWest Bank, offering mobile-first deposits to Filipino consumers. It competes directly with VBank for the same digitally-native mass-market segment, with a parent commercial bank's capital and infrastructure behind it.
• Tonik Digital Bank: Tonik is a Philippine neobank offering digital savings accounts and consumer loans via a mobile app. It competes directly with VBank for digitally-engaged Filipino deposit customers seeking a non-traditional banking relationship.
• GCash: GCash (operated by Globe Fintech Innovations / Mynt) is the dominant Philippine e-wallet and is evolving into a digital bank. It targets the same unbanked/underbanked Filipino mass market via a mobile-first model with agent cash-in/cash-out network, directly overlapping with VBank's customer and channel strategy.
• UNO Digital Bank: UNO Digital Bank is a BSP-licensed Philippine digital bank serving consumers and SMEs with mobile-first savings and payments. It overlaps with VBank on mobile deposit accounts and payments rails, though backed by a larger institutional sponsor.
• Overseas Filipino Bank: Overseas Filipino Bank (a LandBank subsidiary) is a thrift bank explicitly chartered to serve the banking needs of Overseas Filipino Workers and their families. It is the most head-to-head competitor to VBank's OFW-targeted value proposition.
• DiskarTech (PRUBANK): DiskarTech is the digital platform of Philippine Rural Bank (PRUBANK), offering mobile savings and loans to unbanked Filipinos. It is the most structurally comparable peer: a Philippine rural bank that pivoted to a digital-first, unbanked-targeting model.
• SeaBank Philippines: SeaBank Philippines is a digital bank leveraging the Shopee/PayMaya ecosystem to offer mobile-first deposits to Filipino consumers. It competes with VBank on mobile deposit acquisition and PESONet/InstaPay-linked payments.

Broad incumbents

• UnionBank of the Philippines: UnionBank is a major Philippine commercial bank with a strong digital banking push. It competes with VBank across retail deposits and digital payments but offers a much broader product suite (loans, cards, investments, treasury) and serves both retail and corporate customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/VbankPH
• YouTubeyoutube.com/@VbankPH
• Facebookweb.facebook.com/VbankPH
• LinkedInlinkedin.com/company/vbankph
• Instagraminstagram.com/vbankph

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VBank