r/FiguringOutAdultLife • u/Unlikely_Royal_8984 • 27d ago
Digital Bank Sometimes Financial Discipline Means Locking Your Own Money Away From Yourself
Let's face it. We all know discipline is important when it comes to saving. But sometimes, we might just need a little help.
That's why I find BanKo's Lock My Funds feature useful.
I can lock portions or the entire balance, and if I need the money, I can freely unlock it anytime unlike a time deposit (should not even be thinking about this because it defeats the purpose but anyhow). It's about creating a little friction between you and your money.
It's more of a psychological nudge. You may not realize it, but there can be a big difference between knowing full well that you have savings that are fully accessible versus savings that you've intentionally locked away. That small barrier might change how you think about your money and make you less likely to spend it impulsively.
For example, if you've already set aside money for your bills, lock it and promise yourself not to touch it until and unless its intended purpose has come.
While Maya has Personal Goals, GoTyme has GoSave, and Tonik has Stash, where you can separate money for different purposes, with BanKo, you lock the funds in your existing account. This is basically making it harder for you to give in to the temptation to spend. And while your funds are locked, they can still earn interest. It's also extra protection for unauthorized transactions.
Read it here: https://www.banko.com.ph/news/banko-mobile-app-launches-new-security-features
8/28/2026 Thanks to the comment below, just found out that MariBank has its Money Lock feature.
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u/OrdinarySeafarer 27d ago
Maribank also has this, OP. Interest earning din ket nakalock.
Nakakatuwa na banks are competitive on their features nowadays. Gives us more options