Frequently Asked Questions

as of March 15, 2025

Jump to Online Time Deposit FAQs

Jump to Opening a Metrobank eSavings Account FAQs

Jump to Other Deposit Accounts Opened via Earnest FAQs

 

Using the Earnest app

1. What is Earnest?

Earnest is a financial education and investing platform. It makes it easy for you to learn money basics and to start growing your money, whenever and wherever it’s convenient for you.

2. How do I create an account?

• You can sign up on the Earnest website or on the Earnest app. All you need to provide is a valid email address.
• You can use an account created on the website to log into the app and vice versa.
• On the website, you can read through articles without creating an account. However, if you'd like to learn through the lesson cards, you'll need to create an account so that we can save your progress. To use the app, though, you need to create an account.

3. Where can I download the Earnest app?

Earnest is available on the Google Play Store for Android users and the Apple App Store for iOS. Just search for "Earnest Investing."

4. I forgot my password. How do I retrieve my Earnest account?

• In the login page, go to “Options” and tap the “Forgot Password.”
• Enter your email address to receive the link to change your password.
• Once you’ve changed your password, just log in to Earnest again

5. How do I grow my money with Earnest?

Earnest allows you to place your money in investment products. Depending on how these products perform, the value of your investment may increase or decrease. Your earnings are realized when you redeem your investment at a value higher than your initial investment.

6. What kind of investments can I get with Earnest?

Earnest currently offers Metrobank investment funds, which are Unit Investment Trust Funds (UITFs). Specific products will be recommended for you according to the result of your risk assessment.

Earnest currently offers the following UITFs:

• Metro Aspire Balanced Feeder Fund
• Metro Aspire Bond Feeder Fund
• Metro Aspire Equity Feeder Fund
• Metro Balanced Fund
• Metro Equity Fund
• Metro Max-3 Bond Fund
• Metro Max-5 Bond Fund
• Metro Money Market Fund
• Metro Philippine Equity Index Tracker Fund
• Metro Short Term Fund
• Metro High Dividend Yield Unit Paying Fund
• Metro Corporate Bond Fund
• Metro Multi-Themed Equity Fund of Funds

You can get more information about these specific funds here. 

7. Are UITFs deposit products?

• A UITF is not a deposit product and is not insured by the Philippine Deposit Insurance Corporation (PDIC). Returns cannot be guaranteed and historical NAVPU is for illustration of NAVPU movements/fluctuations only.
• When redeeming, the proceeds may be worth less than the original investment and any losses will be solely for the account of the client. The trustee is not liable for any loss unless upon willful default, bad faith or gross negligence.
• UITFs available on Earnest are from the Metropolitan Bank and Trust Company, which is regulated by the Bangko Sentral ng Pilipinas (BSP). For any inquiries and complaints relating to Trust Products and Services, you may send an email to [email protected]; you may also file complaints with the BSP Financial Consumer Protection Department at (632) 8708-7087 or [email protected]. To know your rights under BSP Circular No. 857 (Regulations on Financial Consumer Protection), please access a copy at the BSP website (www.bsp.gov.ph).

8. How do I invest my money?

• You will need to download the Earnest app and create an account. The app will guide you on the next steps.
• To invest, you will need to link a Metrobank account as your settlement account. This account will be the source of your money for investing and your earnings will be deposited there, too.
• If you need a Metrobank account, you can open a Metrobank Savings Account through the Earnest app. This account can also be used for online transactions like bills payment, bank-to-bank transfers, sending money and shopping, and with ATMs and Cash Accept Machines (CAMs).
• Right now, joint accounts do not work on Earnest, but we’re trying to make this possible.
• The Earnest app will help you choose your investment and transfer your money. It’s like online shopping, but for investments.

9. Can I put my money in any investment fund?

• Your risk profile should serve as your guide for the investments that you choose. That way, you won’t take on more risk than you’re comfortable with.
• There are nationality and/or residency restrictions for the following: Metro Money Market Fund, Metro Short Term Fund, and Metro Multi-Themed Equity Fund of Funds. You can find out more by visiting the specific pages of these products on Earnest.

10. What is a settlement account and why do I need one?

A settlement account is a bank account where the money you’ll invest will come from. The money you receive from your investment will also be deposited in the settlement account.

11. What kind of Metrobank account can I link?

• Only individual savings and checking accounts can be linked to Earnest. Other accounts like joint, prepaid, In-Trust-For (ITF), and dollar accounts are currently not supported.
• To link an account, tap on the More tab, then choose My Accounts. You’ll see the option to link your Metrobank account there.

12. I'm unable to receive the OTP when I link my Metrobank account. What should I do? 

• The OTP is sent to the mobile number associated with your Metrobank account. Please make sure that your contact information is updated.
• If you need to make changes to your account, you can get in touch with your branch of account to update your contact information. You can find out more here. 

13. Do I have to pay a fee every time I invest or withdraw?

The bank charges a minimal amount, called a trust fee, for investing in and withdrawing from certain UITFs. The amount varies per product, and can be found in each product's respective Fund Fact Sheet. 

14. What does it mean when my investments are “processing”?

Whenever you make an investment, the fund manager has to place your order. This typically takes 1-2 banking days, and depends on if the transaction was made before or after the daily cut-off time.

15. How do I redeem my money?

You will see a summary of all your active investments in your Portfolio on Earnest. Select the investment you want to redeem and the app will guide you through the redemption process.

16. Can I cancel my investments?

• Once an investment has been made, you can’t cancel it while it’s processing. You can redeem your investment afterwards.
• An early redemption charge may apply, depending on the time period between making the investment and cancelling it.

17. What happens when I unlink my bank account?

• Your investments will still exist, but you will no longer be able to view, redeem, or add money to them on Earnest. You can still see them through other channels, including Metrobank Online.
• You won't be able to subscribe to any new investments if you don't have any linked Metrobank account.
• You also won’t be able to view the balance of a Metrobank account through Earnest if it has been unlinked from the app.

18. Is the Earnest app available for all smartphones?

Earnest is available for Android and iOS smartphones. 

19. I have an existing UITF investment with Metrobank. Can I do anything with it on Earnest?

• If you have an existing UITF investment with Metrobank, you can still use Earnest to view, redeem and add money to your investment.
• To do this, just link the Metrobank account you used as a settlement account to the app.
• If the product you invested in isn’t available on Earnest, you won’t be able to add money to it or redeem it through the app. However, you will still be able to view its performance.

20. What else can I do with the Earnest app?

• Aside from investing in UITFs, you can learn investing basics and more through short but comprehensive lessons that let you track your progress, and read articles that go into more detail.
• You can access these through the Learn tab of the Earnest app, or through the Lessons section of the Earnest website.

21. How do I get help with Earnest?

• Earnest has an in-app support feature that lets you message our customer support team. You can find it in More > Support.
• You may also send an email to [email protected] with the full details of your problem.
• For either method, providing us with screenshots of the problem encountered will allow us to help you better.

 

Investing in an Online Time Deposit through Earnest

 

1. How can I open an Online Time Deposit on Earnest?

To do this, log in to Earnest. Go to Invest, tap Products, then choose Time Deposit. Select the linked Metrobank account that you’ll use as your settlement account, enter your time deposit details, and provide all required information.

2. What are the requirements to open an Online Time Deposit on Earnest?

You need to download Earnest and create an account. You’ll also need an eligible Metrobank deposit account, which will serve as the settlement account.

3. Will I get a confirmation on my Online Time Deposit application?

After finishing your application, you’ll get confirmation on the status of your investment through Earnest and an email advisory for the processing of your online time deposit.

4. How will I know if my application is successful?

• You’ll get an email on the status of your Online Time Deposit application on the next banking day after the day you applied.
• If your application was successful, you’ll also see it in your Earnest portfolio.

5. Will I receive a Time Deposit Certificate for my Online Time Deposit that was successfully opened?

Your email notification will serve as your confirmation for your online time deposit placement.

6. Do Online Time Deposit applications have a cut-off time?

Yes, the cut-off for applications is at 10 PM on banking days. Applications made before the cut-off will be processed within the day, while those made after the cut-off will be processed on the next banking day.

7. How much money do I need to open an Online Time Deposit?

You can open an Online Time Deposit with P10,000 or more.

8. What are the available placement terms?

Placement terms for an Online Time Deposit are a minimum of 1 month, and a maximum of 12 months. Terms increase in 1-month increments (i.e., 1-month term, 2-month term, 3-month term).

9. What is a payout option?

A payout option refers to what you want to do with the principal and the interest payment when your Online Time Deposit matures. On Earnest, you may choose from these options:

• Invest everything – Your principal and interest will be placed in a new Online Time Deposit.
• Invest my principal again – You’ll receive the interest in your settlement account and the principal will be placed in a new Online Time Deposit.
• Withdraw everything – You’ll receive both principal and interest in your settlement account.

10. How much can I earn from an Online Time Deposit?

• You may check https://metrobank.com.ph/rates-and-fees for the latest interest rates. Online Time Deposits have a higher interest rate than regular time deposits (rates may change without prior notice).
• Note that the interest you will earn depends on your placement amount and length of term.

11. Can I open more than one Online Time Deposit?

Yes, you may open multiple Online Time Deposits. Please make sure that your settlement account has enough money for all these investments.

12. Why was my Online Time Deposit application unsuccessful?

If this happens, you’ll be notified of the reason through email.

Here are the typical reasons for an Online Time Deposit application to be unsuccessful:

• Your settlement account doesn’t have enough money
• Your settlement account was inactive when the money was supposed to be transferred to the Online Time Deposit

13. How can my settlement account have insufficient funds when my Online Time Deposit application was acknowledged?

Online Time Deposit applications are processed at 10 PM and the placement amounts are debited at 11 PM. You might have made a transaction, had a scheduled transaction (e.g., bill payments, fund transfers), or withdrew cash, and so put your account balance below your placement amount.

14. Can I apply for an Online Time Deposit again if my first application was unsuccessful?

• Yes, but please make sure to put enough money in your settlement account so your application pushes through. You can also choose a different settlement account that has enough balance.
• However, if your account is inactive, please visit your branch of account so you can request for reactivation.

15. Can I withdraw from my Online Time Deposit?

• You can’t take money from or add money to an Online Time Deposit before it matures.
• If you really want to take money from that Online Time Deposit, you’ll need to pre-terminate that investment. This will close it before maturity.

16. I want to pre-terminate my Online Time Deposit. How do I do this?

• To pre-terminate your Online Time Deposit, login to Earnest and click on the time deposit in your Portfolio that you wish to pre-terminate. Click on the 3 dots at the upper right side of the screen, then on Terminate Investment.
• Note that requests for pre-termination are processed during banking days only.

17. Are there penalties for pre-terminating an Online Time Deposit?

• If you choose to pre-terminate, you’ll receive only a portion of the agreed interest due to charges.
• You only get 25% of interest earned when done during the first half of the term (75% charge), and 50% of the interest earned during the second half of the term (50% charge).
• You will also be charged with the applicable Documentary Stamp Tax.

18. What happens if I pre-terminate an Online Time Deposit?

You will receive an email confirming the pre-termination. Your placement amount and interest earned will be immediately credited to your settlement account after applying the necessary charges and taxes.

19. What is weekend maturity and why is the maturity moved to the next banking day?

• This means that the maturity date of your Online Time Deposit fell on a weekend or scheduled national holiday. Since financial transactions are only processed on weekdays, the maturity date will be moved to the next banking day so your account can be credited.
• Please note that the interest earned will still be based on your actual placement days.

20. Will I be notified of my Online Time Deposit’s maturity?

Yes, you will receive an email confirmation on your maturity date that your time deposit has matured.

21. What time can I expect my placement proceeds to be credited to my settlement account on maturity?

The principal and interest earned will be credited to your settlement account at 10:30 AM on the day of maturity.

22. Can I change my settlement account before my Online Time Deposit matures?

No, you can choose a settlement account only when you’re applying for an Online Time Deposit.

23. Can I view my Online Time Deposit account opened in Earnest on my Metrobank Online account?

Yes, you can view your Online Time Deposit by enrolling it in your Metrobank Online account. You may refer to the confirmation email sent to you for the necessary information.

 

Opening a Metrobank eSavings Account on Earnest

• You can now open a Metrobank eSavings Account on Earnest. The application process is fully online and there’s no need to go to a branch.
• A Metrobank eSavings Account is a digital savings account that you can use for online or over-the-counter transactions, bills payment, and fund transfers. 
• This account can also serve as your settlement account for investing through Earnest. 

• To apply for a Metrobank eSavings Account through Earnest, tap on the link in the Home section or in More > My Accounts to start the process.
• You’ll need to upload a photo of your valid ID and perform a selfie capture during the application.
• You won’t be able to apply for a Metrobank eSavings Account if you’ve already opened a Metrobank Savings Account and/or Earnest Digital Account through Earnest. 

• You can use any Android phone or iPhone that fulfills these requirements: 
  • Android: Minimum of Android 7.0 (Nougat) 
  • iOS: Minimum of iOS 12 
• Country restriction in Google Play Store and Apple App Store: Philippines
• If your phone isn't compatible with the requirements of account creation, the application option will not be visible. The Earnest team is working on making the application compatible with more phones in the future.
• We've received reports that some users of Pocophone, Xiaomi, and Oppo phones may have difficulties with ID and selfie capture for account opening. 

• PRC ID with signature
• UMID
• Driver's license with signature
• Philippine Passport
• Philippine National ID (Philsys ID or ePHILID)

• Yes, you can open a Metrobank eSavings account as an existing Metrobank customer.
• However, you won’t be able to apply for a Metrobank eSavings account if you’ve already opened a Metrobank Savings Account and/or Earnest Digital Account through Earnest.

• You’ll need to link your Metrobank eSavings Account to Earnest to use it as the settlement account for your investments.
• You can do that easily by going to More > My Accounts and tapping on “Link a Metrobank account.”

• Intrabank Fund Transfer
• Instapay
• PESONet
• Cash Accept Machine (CAM) or Cash Recycler Machine (CRM)
• Partner Pawnshops (Remit to Account)
• Remittance
• Over the Counter 

• You can enroll your account in the Metrobank Mobile App and Metrobank Online.
• There’s a cooling period of 24 hours before you can use your account to transact via these digital channels.

• You may request for a debit card once your account is fully verified.
• The debit card fee is P150, but this fee is waived until November 2024.

• You may visit any Metrobank branch to request for a debit card. Walk-ins are allowed.
• You may also book an appointment with your preferred branch via Earnest’s chat support feature or through [email protected].
• For walk-ins, please bring the original copy of the valid ID that you used for account opening. Other types of valid IDs will not be accepted.

• To do an over-the-counter transaction, visit any Metrobank branch and bring the original copy of the valid ID that you used for account opening. Other types of valid IDs will not be accepted.
• You may also book an appointment with your preferred branch via Earnest’s chat support feature or through [email protected].

• We updated our online application system and are now only offering applications for a Metrobank eSavings Account.
• It’s a digital savings account that you can use to invest via the Earnest app. You can also access it through other Metrobank channels for your other transaction needs.