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How to Apply for a Bank of Commerce Savings Account

With the innovation and introduction of new product and services technology in the field of banking, opening a savings account has become so much easier and convenient these days. As far as commercial or personal banking is concerned, the Bank of Commerce has consistently positioned itself among the top banking institutions in terms of reliability, stability, and convenience.

Since its establishment in 1963, the Bank of Commerce has come a long way and has seen remarkable growth and expansion as seen in its extensive (and still growing) number of service branches all nationwide. Moreover, the Bank of Commerce is one of the top commercial banks in the Philippines in terms of lending assets and diversified banking products and services. If you are would like to apply for a savings account with the Bank of Commerce, continue to read below:

Image Credit: Bank of Commerce Official Website

Applying for a Bank of Commerce Savings Account

As a Bank of Commerce Savings account holder, you get to enjoy the following benefits and services:

  • A Php 500 account opening deposit fee and maintaining balance for a Bank of Commerce ATM Savings account
  • Round-the-clock banking and ATM services from over 13,000 ATM locations all over the country
  • Go cashless for your bills payment and shop online through any BancNet authorized partner merchants nationwide.
  • A Php 5,000 monthly average daily balance requirement to earn interest where interest crediting is done every month.
  • An interest rate of 0.125% per annum.

 

Requirements:

  • Any of the following photo-bearing government-issued valid IDs:
    • Driver’s license
    • Voter’s ID
    • Postal ID
    • Passport
    • PRC License ID
    • Barangay Certification
    • Police/NBI Clearance
    • Senior Citizen’s ID
    • And others
  • Two (2) pieces 1 x 1 ID photo (must be recent)
  • Tax Identification Number (TIN) and other personal information (required for the application)
  • The ATM savings account opening deposit fee of Php 500

Procedures:

  1. Visit the nearest Bank of Commerce branch in your area. Be sure to have all the above-listed account opening requirements on the day of your visit to the bank.
  2. Proceed to the New Accounts Desk and advise the bank officer that you would like to open an ATM Savings Account.
  3. Once you are given an account opening application form, fill it out completely and submit all the required documents as well as your initial deposit.
  4. Upon receipt of your application, the bank officer will verify, encode, and submit your account in the bank’s system. After which, you will be informed as to when you may come back (usually with 3-5 days) for the collection of your ATM card and other account documents, where applicable.
  5. Once you have received your ATM card, you need to immediately change your PIN code in order to activate your card.




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