With a number of prominent commercial banks in the Philippines, it’s quite safe to say that the process of opening a savings account has now become easier more than ever. It’s quite easy to see which product suits your needs right off the bat. But what makes the decision different for each individual is the convenience and banking experience they’ve had with a particular institution.
Being one of the largest commercial banks in the country, Metrobank has already established its brand quality and dependable services to become one of the top choices for users to open a savings account with. If you’re thinking of doing business with Metrobank, then continue to read the requirements and procedures on how to open a savings account with them. Here’s how:
Applying for a Metrobank Savings Account
Members who have a savings account with Metrobank are entitled to the following benefits and account features:
- An initial deposit to open an account is only Php 2,000. This is also the minimum monthly average daily maintaining balance (ADB) to keep the account active.
- The minimum balance for your account to earn interest is Php 10,000.
- Metrobank savings account has an annual interest rate of 0.125%
- Access your funds either through an ATM or debit card.
- Go cashless when you pay your bills and enjoy hassle-free shopping with just your ATM or debit card anywhere in the country through various point-of-sale (POS) terminals available in almost all commercial establishments.
- Accounts with funds up to Php 500,000 are insured by the Philippine Deposit Insurance Corporation (PDIC).
- Any two (2) of the following government-issued valid IDs with photograph:
- Driver’s License
- Postal ID
- Barangay Clearance
- NBI / Police Clearance
- Voter’s ID
- SSS / GSIS Card
- Senior Citizen’s Card
- PRC License
- And others
- Two (2) recent copies of either a 1 x 1 or 2 x 2 coloured photo
- Proof of billing / billing statement (e.g. electricity, water, landline/internet, and credit card bills, among others)
- Your deposit of at least Php 2,000 to open a regular savings account.
- Your personal TIN and/or SSS number.
- Visit the nearest Metrobank branch and have all the above-listed requirements at hand. Proceed to the New Accounts desk and ask assistance from the bank officer.
- Fill out the necessary application forms for opening a regular savings account. Review all the information that you have provided in your forms to save time and to avoid any delays in the processing of your application.
- Once you are done filling out the application form and after you’ve given the requirements, wait for the bank officer to review and verify the details of your application and documents.
- Pay the initial deposit fee of Php 2,000. Secure the deposit slip because you will need this together with your valid ID for the collection of your card and bank documents.
Note: You will have to wait between 5 to 7 days before your ATM card is released. You may ask for the bank officer’s contact information to check with him/her as to when you may collect your card.