Filipinos are more into shopping and less into saving. It’s a hard fact that’s really bitter to swallow, but what if there’s a bank that offers you the best of both worlds? Luckily, for us Filipinos, BDO understands how we are wired, and through their regular savings account, our shopping and banking needs can now all be taken care of in one account.
BDO is among the biggest commercial banks in the Philippines. And with that said, we can expect its huge presence within the metro and even in shopping malls where all the people are. If you are interested in opening a regular savings account with BDO, continue to read on…
Applying for a BDO Savings Account
Opening a BDO Savings account, entitles account holders the following benefits and services:
- Low Initial deposit and a minimum maintaining balance of Php 2,000.
- The required minimum average daily balance to earn interest is Php 5,000.
- High interest rate of 0.25% per annum
- Go shopping, dining out, and pay for your gas through the convenience of using your BDO ATM Debit card.
- Access you funds through BDO’s extensive ATM network nationwide.
Note: Bring the original as well as two (2) photocopies of the following required documents needed for your application.
- Any two (2) of the following photographed valid IDs listed below:
- Driver’s License
- Postal ID
- Voter’s ID
- Barangay Clearance
- NBI/Police Clearance
- School or company ID
- GSIS ID, SSS, Philhealth or TIN Card, etc.
- Two (2) copies of your recent 1 x 1 photograph
- The Php 2,000 initial deposit required for opening a regular ATM savings account
Note: For a passbook savings account, you would be required to pay an initial deposit worth Php 5,000. So if you’re not big on shelling out a higher cash deposit, just go for an ATM account.
- [Optional] Any billing statement or proof of billing. Some BDO branches may ask you to present one.
- Go to your preferred BDO branch and proceed directly to the New Accounts desk.
- Ask assistance from the bank officer on how to open an ATM savings account. Fill out all the forms that you will be provided with. Make sure that all the information that you provide is valid and free from errors.
- Pay the initial deposit worth Php 2,000 and secure the deposit slip. You will need this for the collection of your account documents as well as your ATM card.
- You will be advised by the bank officer regarding the date you may visit the bank to collect your card and account documents. You may ask for the bank officer’s contact details so that you may ask for updates on the status of your account directly through him/her.
Note: It usually takes about five to seven banking days for a regular savings account to be processed and for an ATM card to be released.