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How to Buy Crypto with City Savings Bank in Philippines

Last updated on November 12, 2023

Quick Summary: While City Savings Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Philippines cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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City Savings Bank Homepage

As mentioned in my quick summary, like most Philippines banks, City Savings Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

Thankfully there are many cryptocurrency exchanges to pick from that allow you to buy Bitcoin and other cryptocurrencies.

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with City Savings Bank

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with City Savings Bank.

Buy Crypto With eToro

About City Savings Bank

City Savings Bank, commonly called CitySavings is a thrift bank that is a subsidiary to Union Bank of the Philippines founded in 1965. it was founded by the city of Cebu City and also member of the Aboitiz Group of Companies. City Savings is regulated by the Bangko Sentral ng Pilipinas. The corporate office of City Savings is within The UnionBank Plaza, Meralco Avenue intersection of Sapphire and Onyx Streets, Ortigas Center, Pasig, Metro Manila.

CitySavings was founded through Don Ramon Aboitiz and Teotimo Abellana in the year 1965 in Cebu City, Philippines as Cebu City Savings and Loan Association (CCSLA). In the course of 11 years, it grew into the Bohol city Tagbilaran, Bohol. The year 2013 was the year that City Savings was acquired by UnionBank and became its subsidiary. They later expanded their network into Cagayan Valley and also opened an office at Tuguegarao, Cagayan.

in June of 2018, the UnionBank’s affiliate City Savings Bank acquired Philippine Resources Savings Bank (PR Savings) from the ROPALI Group in a deal that included City Savings Bank as the successor to the merger. The merger was officially concluded in March 2019. All PR Savings Bank branches were integrated in the City Savings Bank network, expanding the number of branches from 217 to 217. as a result, City Savings Bank became the fourth largest thrift bank across the Philippines in terms of assets. Soon, it will become the third biggest Thrift Bank after BPI Family Savings Bank will merge with BPI by the beginning of 2022.

On January 20, 2021 City Savings Bank acquired 70% of the stake in the Batangas-based thrift institution Bangko Kabayan, making Bangko Kabayan become part of City Savings Bank.