Currently Addicted To: PSBank Electronic Credit Card (Prepaid Credit Card)

I was just strolling by PSBank when I saw this weird advertisement for a PREPAID CREDIT CARD!

PSbank electronic credit card

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I know it’s funny to read but PSBank actually offers a PREPAID CREDIT CARD and on impulse I went inside to find out more!

The bank officer was kind enough to explain to me what a prepaid credit card was cause I was thinking it was just another cash card or something. It turns out, PSbank is offering a debit type Mastercard. I was skeptical at first because I’ve had a BPIExpress debit/cash card which turned out to be useless in Gaisano Mall for some reason. However, the bank officer told me that opening a prepaid credit card would need only a 100 peso initial deposit so I grabbed the opportunity and signed up for one. They only asked for 2 valid IDs,  filled up a couple of forms, deposited 500 (instead of the minimum 100) and in just minutes the bank officer gave me my prepaid credit card. It was that easy!

psbank electronic mastercard picture

My E-card (details blanked) and yes the expiry date on that is 2016!

Here’s my C.A.T. review for PSBank Electronic Mastercard:

  • Signup process with PSBank Electronic Credit Card

    5 CP

    It was so easy to sign up. All I needed was a couple of valid IDs. They asked for my TIN but I didn’t have  my TIN card with me but still they processed my application. I got my card by the hour. Due note that some of the processes might change in different branches but generally, I assume that the main sign up process will be the same. A full 5 addict points for the sign up process!

  • Banking services with PSBank Electronic Credit Card

    3 and a half CP

    The prepaid credit card isn’t a savings account. It’s classified as a current / loan account. However you can deposit or “load” money in it. If ever you need cold hard cash, just head over to a PSBank ATM or any other affiliate ATM and withdraw you loaded cash. Do note that withdrawing money from your PSBank e-card requires you to choose “current” instead of “savings”. 

    Unfortunately, loading or depositing money over the counter for your PSBank e-card costs 10 php per transaction. So if ever you need the card, you can deposit a large amount to save on the costs. However, if you have a PSBank savings account (the regular savings account) you can transfer money from it to your electronic mastercard. If you don’t have any PSBank account, you can open one with a 2,000 php initial deposit. Maintaining balance for such an account is also 2,000 php. The advantage is that you can transfer any amount without paying the 10 php fee anytime in any ATM or online.

    Gaisano mall and some other malls do not accept cash cards like BPI express card. It’s a good thing that the PSBank e-credit card can be used in most shopping malls that accept credit cards. I’ve used it in a couple of purchases without any hitches. The saleslady just treated it like a regular credit card and rang up my purchases.

    Another plus, the card expires a full 4 years! Yep my card will expire on 2016. Some E-cards I know expire after 2 years. Still, I’m giving it 3 and a half AP for 10 php fee and because of the PSbank regular account maintaining balance.

  • Online shopping with PSBank Electronic Credit Card

    3 CP

    While the bank officer told me the PSBank prepaid mastercard can be used for online shopping, I did have problems at first. It seems that several websites don’t accept the card yet. In particular, can’t verify the card. Several blogs and forum posts state that they also have problems with shopping in Amazon. Similarly, they’ve posted that paypal is not yet supported by PSbank.

    Shockingly, one blogger posted that if you use the PSBank prepaid mastercard in buying apps and songs in the Apple store, it will get bugged. The blogger said he was able to purchase TONS of apps and songs with only a 500 peso initial load. That was a year ago so I don’t know what happened to him or if PSBank had trouble with that.

    Fortunately, I managed to use my PSBank e-card in purchasing Facebook credits for a facebook game. All you had to do was use the “new credit card” transaction and input your card details. Sadly, you have to input card details for every purchase. Still, I find this a security advantage especially since if you forgot to log out your facebook, anyone can use a saved credit card to purchase anything.

    Recently, when I loaded my card, the bank teller told me that someone managed to have their card verified in Paypal. Will check now if it works.

  • Electronic Banking with PSBank Electronic Credit Card

    4  and a half CP

    It’s a good thing that PSBank offers electronic banking. Ideally, you should have a PSBank regular account so you can just load you prepaid card on the net without the service charge. However, the online banking gives you the opportunity to monitor your online shopping without the hassle of waiting in line at the bank. You can visit the PSBank website at

    However, the sign up process is a bit long. You have to wait for a manual verification done by a bank staff. I received my verification 3 days after I signed up for the card. Still, using the interface is easy. I managed to spot a failed transaction and immediately contacted PSBank via email. I’m giving a full AP for their customer service. They really mean 24/7.

Overall C.A.T. Points = 4

Generally the card has strong points that’s why it gets 4 CP. If you like to shop online but you’re afraid of credit card online theft, I suggest getting the PSBank regular account AND PSBank prepaid mastercard. This way, you can transfer only the needed amount per transaction online. As always, practice online safety guidelines to minimize losses.

If you need more information click the PSBank picture visit their website.

PSbank electronic credit card

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  1. Mariel Said:

    Have you tried loading the card through iRemit, Xoom, LBC bank crediting, and M Lhuillier bank crediting?

    • megalomax Said:

      Hi, thanks for your comment.

      Nope I haven’t tried yet but I am hoping to use Xoom and iRemit soon. It’s just that I’ve been using my card as you would a credit card and doing purchases directly without a third party like paypal.

      As for loading the card, PSBank is just a 15 minute drive from where I live so I don’t really need to go anywhere else. There’s no LBC here and M Lhuiller is about 30 minutes away.

      Will try to email PSbank about what you asked.


  2. […] already posted a review about PSBank Prepaid Mastercard which worked fine for restaurants, malls Google Play and Facebook purchases. Unfortunately, the […]

  3. Kristen Said:

    I am a student and I only have one valid ID. Am I still qualify to apply though? Thanks.

    • C.A.T.Guy Said:

      I guess so, they might be able to make an exception. It really depends on the branch.

  4. Vanessa Eunice Reyes Said:

    Hi. Have you tried purchasing an app in PlayStore using the Prepaid MasterCard? Was it successful? TIA.

    • C.A.T.Guy Said:

      Hi, yep you can use the card for playstore app and in app purchases. Just make sure it has the right amount. Don’t rely on current exchange rates. Add a little bit extra.

      For easier loading and increased safety, I also got a regular account and used internet banking to “load” the card. Hope it helps.

      PS- best choice for app store and paypal is Unionbank EON card

  5. […] PSBank E Credit – review here […]

  6. […] Mastercard can’t be used as an ATM unlike other prepaid credit cards such as EON Unionbank, PSBank prepaid Mastercard and RCBC MyWallet. This means that once you load the card, you won’t be able to get your cash […]

  7. […] PSBank Electronic Credit MasterCard […]

  8. Hazel Said:

    hi im a PSBank user, the “red card” maintaining 5k, im just wondering when i was trying to use it for paying my airlines ticket and its not working.. so i need to use my friends credit card and withdraw cash to pay my friend.. just irritating me.. but i can use it for shoppings.. what you think about it?

    • C.A.T.Guy Said:

      That’s the problem with PSbank, not all merchants accept it. That’s why I still prefer EON from Unionbank.

    • C.A.T.Guy Said:

      Per experience, the red card I think is an atm debit card. Not a “credit” card. I think that’s the problem with PSbank. It’s not accepted in most establishments. I still prefer EON from Unionbank or BPI E-credit.

      • Hazel Said:

        thanks for response, anyway do you have idea how to apply for credit card in PSBank? How do i know if im able to apply for credit card?

      • C.A.T.Guy Said:

        I’m not sure of the exact process but you need to have an ITR showing your gross salary at 250k a year or proof of income (approximately 25k) or bank account(s) with funds (cash at substantial amount 50k and has to be updated frequently)

        At least this was the list given to me by a PSBank rep.

        Might I suggest a secured credit card? Basically you have a time deposit of a certain amount and that becomes your credit limit. Example a 5k time deposit equals a secured cred card of 5k credit limit.

        The larger the sum you put on time deposit, the bigger your credit limit. The pros include speedy approval and if at anytime you can’t pay your credit, some banks will let you use your time deposit to pay it. Cons – you need to put up a time deposit but it’s good in the long run.

  9. Hazel Said:

    Thank you so much for this info.. It helps me a lot.. Im going to visit as well the branches that near to me.. Thank you so much again and have a good day.

    • C.A.T.Guy Said:

      You’re welcome 🙂 for secured credit cards, BPI offers the friendliest due to their online banking. Just link a bpi express atm with the secured credit card and you can pay your cred card online.

      Best regards.

  10. […] PSBank e-Credit -  Easy to get but last time I used it (2012) had big issues in online purchases and even real time purchases. I even found out that during the year they released it, one guy managed to buy a lot of stuff in the Apple Appstore/iTunes and his loaded account didn’t decrease. It sounded good but I didn’t want to be hit by a lawsuit. And that might have been the reason why it was hard for me to use my PSBank e-Credit on popular sites like Google play, Apple Appstore, eBay and Amazon. Paypal wise, the card can’t be used to verify (2012). […]

  11. beabaldemor Said:

    Hi 🙂 How much application fee? And also did you get it right away or like within an hour to get the card right away?

    • C.A.T.Guy Said:

      I think I only deposited 500 pesos. I’m not sure if now they have a fee. Yes I got my card within the hour.

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