Thinking of vacationing in the Philippines and opening a travel expense account you can use during your stay here? No problem. You can get this in the form of a regular savings account with Eastwest Bank (EWB).
Besides being one of the fastest growing banks in the Philippines during the last decade, Eastwest Bank has aggressively improved its portfolio in the market and has become one of the top 10 biggest universal banks (in terms of assets) here in the Philippines. In this post, we will share the some easy steps and requirements needed to open a regular ATM Savings account in EastWest Bank. Here’s how:
Applying for EastWest ATM Savings Account
Signing up with Eastwest Bank entitles you to the following perks and services from its regular savings account:
- The initial deposit and minimum average daily maintaining balance is only Php 2,000.00
- The minimum Average Daily Balance (ADB) required to earn interest is Php 10,000.00
- It has an annual interest rate of 0.125%
- Documentation comes in the form of ATM/Debit card and electronic statements
- Convenient and fast access to personal funds through Philippine ATMs, over-the-counter banking, EastWest Online Banking, and Visa-accredited (physical and online) merchants worldwide.
- An original and clear copy of any of the following government-issued IDs with photo:
- Driver’s License
- Voter’s ID
- PRC License
- SSS / GSIS ID
- OFW ID
- OWWA Card
- Company ID / Student ID
- Senior Citizen’s ID
- And many more…
- Two (2) identical copies of a 1×1 or 2×2-sized recent photograph
- The applicant’s Tax Identification Number (TIN), and other similar information to be used for your application.
- Recent utility bills or other proof of billing (e.g. electric, water, landline/internet or credit card bills)
- Visit the nearest Eastwest Bank branch in your area and go to the New Accounts Section.
- Inform the bank officer that you are applying for a Regular ATM Savings Account. Completely fill out a set of forms that you will be provided with to begin your application.
Note: Be sure to double-check all the information you provide in your application form to avoid any hassle during the processing of your documents.
- After you’ve submitted all your application forms, you will be asked to provide all the requirements listed above for review and processing of your account.
- Settle the initial deposit fee required to open a regular savings account. Secure the deposit slip because you will need it for the collection of your ATM/Debit Card.
Note: It would usually take a week at most before the applicant will be required to collect their bank documents including their ATM/Debit Card.
Tip: Ask for the bank officer’s contact information so you can inquire for an update every now and then on the status of your savings account and to know when your ATM/Debit card may be collected.