What bank to open a savings account?

[mozilla]

ngayon ko lang nabasa na meron pala dormancy period yung savings account sa mga bangko...tagal ko ng hindi nahuhulugan ng pera yung savings account ko..ngayon ko lang naalala na meron pa pala ako savings account sa metrobank...hehehe! minimum talaga sa maintaining balance..nakow makapunta nga sa bangko baka negative na sa maintaining balance pera ko dun...

i am also thinking of withdrawing/closing my account na, kasi ang liit ng interest sa banko...talong talo...

[iamatvfan]

WAIT.. so does all banks have a dormancy period? I have a Metrobank Savings Account and i havent transacted with them for over 4 years since I opened a BPI account . So does this mean I will be charged for leaving my money with them?

yes. dormancy is part of our banking laws. with respect to the charges, if the balance of your account, at the time the account turned dormant, is within the maintaining balance, you will not be charged. again, this is stipulated in BSP-MOR.

[iamatvfan]

Hi. I have questions.

In March 2007, I opened a savings account with BPI. After several months, I found the account depleted of all my savings from a summer job stint Since then, I practically never "touched" my savings account with BPI. I never informed them that I intend to close the account. I do not have the ATM card anymore, probably lost, actually, lost.

Last year, in June 2009, my employer enrolled me in BPI for a payroll account. And now, I find the need to really open an account with BPI, a savings account, to: 1) save, 2) facilitate a more organized personal report on income-expenses cash flow among others.

Questions:

1) Can I open a new savings account given that I already have a dormant savings account for more than two years?

2) Can I still "re-open" my old savings account without paying for any fees? I certainly do not want to pay any kind of fees just for being inactive.

3) Can you give me an advice regarding the matter at hand?

TIA

1) yes. but if the customer service associate is inquisitive and smart, he/she should be able to tell you that you have an existing account but dormant. you can either reactivate it and/or open another account. it will not matter.

2) If the account is no longer available in our system, we call that a "purged" account which means that we could no longer re-open that account. unfortunately, if the account was closed due to service charges (e.g. failure to maintain the required maintaining balance) the bank could no longer credit them back. but on an extremely case-to-case basis, refund is possible.

If the account becomes "inactive" and the balance is within the required maintaining , there should be no charges otherwise you are entitled to a refund.

[awright]

Kung gusto niyo maginternet banking, pinakamadali magenrol sa bpi, sa metro bank, sangkatutak magfill up ng forms, at paghihintayin ka pa ng manager, na may kausap sa kakilala niyang cliente hehe. Sa bdo naman, magfill up ka sa internet, then iprint mo yung form, then submit it to the bank then wait fot 1 week, activated na hehe.

internet banking i go for BPI and BDO,mabilis lang..tsaka helpful yung agents nila pag may queries ka

nag enroll ako sa Unionbank,until now unsuccesful pa din..nakakatamad..

BPI and BDO's atm machines=everywhere!

[pantone #000]

up natin..

i want to open a savings account na strictly passbook lang, so i won't be tempted to withdraw.
what are good options?
paano yung time deposit, kung tapos na yung 90days, ano na mangyayare?
thinking about BPI Direct or BPI Family Bank, or time depo sa Rural Bank pf Makati.
been reading and reading reviews, i can't still decide which bank to save on. or should i invest it on other ways?
hindi ko na pwede patulugin pera ko, sayang yung passive income na posible kong makuha. i'm not sure kung under short-term or long-term to, pero bottomline is maitago na dapat kalagyan at mapagkakitaan kahit papano.
thanks in advance

[pantone #000]

follow-up:
I finally got to open a passbook account in Security Bank, yung Security Build-Up. sayang hindi ko naabutan yung 2% interest p.a., ngayon 1.75% nalang. sa Bank of Makati kasi, magbabyahe pa ako ng jeep at bus para makapagdeposit. sa BPI Family naman, isang jeep pa.
at least 1.75% interest nito, compared sa iba. maximum withdrawals per quarter is 3x. pag lumampas ka, balik na sa .05% interest p.a. so tamang tama lang yung product for me, since i barely touch my savings..

[louiegi]

^^ mataas na ba yung 1.75% compared to other banks? im planning before na mag-open sa security bank. maybe now, i'll open one since very tempting yung ATM, palaging nato-touch ang savings.

[zhajhei_08]

magkanu po yung initail deposit sa pag open ng savings account sa BDO? pag passbook and ATM? thanks po.

usually po anu requirements? para pag punta ko dun tapos na agad.
first time po eh.. thanks po sa mga makakasagot..

[pantone #000]

^^ mataas na ba yung 1.75% compared to other banks? im planning before na mag-open sa security bank. maybe now, i'll open one since very tempting yung ATM, palaging nato-touch ang savings.

based on my readings sa net, mataas na yung 1.75% sa Security Bank Build-up. halos lahat ata ng website ng commercial banks dito sa 'Pinas natignan ko na. sa ibang mas sikat na banks, nag-re-range yung passbook account nila from .05% to .675%. maliit yung 1.75% compared sa rate ng Bank of Makati (a rural bank) na 2-8% kaso nakakatakot parin mag-risk sa rural bank sa dami ng kwento na naririnig ko from friends, mga nag-invest sa rural bank tapos itinakas lang.

if i may suggest, try mo narin yung Build-up. passbook lang sya, 1.75% interest, higher than the usual banks. 5k ang inital deposit, and 5k rin ang minimum balance to earn interest. 3 times lang pwede magwithdraw every QUARTER. once lumampas ka ng 3times in a quarter, bababa ng .05% yung interest. challenging right?

so far sa'kin, wala pa namang need para magwithdraw. and personally, magwwithdraw lang ako kung matter of life & death na ang gravity ng pangangailangan.


finance people, please enlighten me on this:
yung 20% withholding tax, saan ibabawas yun kung sakaling kunwari may emergency and kailangan iwithdraw lahat - dun ba sa capital or dun sa na-earn na interest?

[oragullo]

a friend of mine has a credit card problem with BPI...now she needs to open an account with BPI since para sa payroll yun ng papasukan niyang callcenter....natatakot siya mag-apply kasi baka daw ma-trace yung CC problem niya....Puwede ba siya makapag open ng account?

[bluestar08]

Dati may account ako sa ibank, wala ng ibank ngayon binili na ng union bank. okay sila. then na try ko na din equitable, ok lang rin, pero the best na naging account ko is BPI. Ever since talagang wish ko na sa company ko eh BPI ang ATM kase super convenient lalo na pag magbabayad ka ng bills. May online banking kasi sila eh. Ano pa ba may ganun na bank? Di ko pa natry BDO pero mukhang okay din sila. Pero plus factor talaga sa bank for me is yung online and phone banking facility.

Sa BPI yata ang maintaining is 5k or 3k pero pag BPI Family naman 1k lang. not bad di ba?

[happypink]

I prefer BPI mas convenient since they they their online banking ( http://bpiopen247.com ) and now you got a chance to win the P25,000 worth of shopping money

[bluestar08]

I prefer BPI mas convenient since they they their online banking ( http://bpiopen247.com ) and now you got a chance to win the P25,000 worth of shopping money

Wow! What's this promo? I'm a user of BPI EOL. I think I actually saw an ad about this earlier today. I just have to do transactions to qualify? So cool!

[sparcs_17]

i had the worst experience sa BDO. lalo na sa interbranch transactions nila.

yung account ko kasi HS palang ako.so sa province siya na open.ok na din yun para pag nagpapadala parents ko ng money,walang fee. so anyway,lately dahil i needed to have my bank cert for my visa application i went to the nearest bdo branch to inquire about it. i was thinking na sa dinami dami ng branch nila here sa manila madali lang ang interbranch transaction. PERO HINDE.kailangan ko pang umuwi sa branch sa province to get the bank cert.so sige ok lang,i asked kung pdeng letter of authorization,Hindi din.ang masaklap pa dun,sinabihan nila ako na bat hindi ko nalang daw iclose yung account na yun at magbukas ng bago.nabastusan lang ako sa sagot nila.

isa pa.nawala ko atm ko,at kailangan pupunta nanaman ako sa province para asikasuhin yun.hay nako.*** saan pa na nag sulputan ang bdo sa bawat kanto ng metro manila.

[mxherr5]

finance people, please enlighten me on this:
yung 20% withholding tax, saan ibabawas yun kung sakaling kunwari may emergency and kailangan iwithdraw lahat - dun ba sa capital or dun sa na-earn na interest?

The 20% tax is taken out of the interest.
But I don't see why you mentioned
about withdrawals?
Ano pagkaiba kung nawithdraw mo lahat o hindi?

Remember that the interest is based on the
average daily balance. So if you withdraw
all of your money on say the 2nd, the adb
would reflect that and your interest earned
would be adjusted accordingly

[john_pro]

^^ mataas na ba yung 1.75% compared to other banks? im planning before na mag-open sa security bank. maybe now, i'll open one since very tempting yung ATM, palaging nato-touch ang savings.

Meron sa BPI yung Maxi-Saver tawag nila. Savings account na mataas ang interest, wherein may bonus 1.0% interest p.a. kada buwan kung wala kang withdrawal. At kung may withdrawal ka, ok lang, kasi mas mataas pa rin yung base interest rate niya compared sa ordinary savings account. I just opened one two months ago. Monthly crediting ng interest. May bracket nga lang yung interest rate, pero ang maintaining balance is P50K for ATM and P75K kung Passbook. I opened ATM for that.

[kylline]

i have an account in china bank. they say matataas interest rates sa china bank savings/time deposit then (2009 when i opened) as compared to others.
matingnan nga yung sa bpi maxi saver. i'm looking for another bank na ok.

[k_ruivivar]

i had the worst experience sa BDO. lalo na sa interbranch transactions nila.

yung account ko kasi HS palang ako.so sa province siya na open.ok na din yun para pag nagpapadala parents ko ng money,walang fee. so anyway,lately dahil i needed to have my bank cert for my visa application i went to the nearest bdo branch to inquire about it. i was thinking na sa dinami dami ng branch nila here sa manila madali lang ang interbranch transaction. PERO HINDE.kailangan ko pang umuwi sa branch sa province to get the bank cert.so sige ok lang,i asked kung pdeng letter of authorization,Hindi din.ang masaklap pa dun,sinabihan nila ako na bat hindi ko nalang daw iclose yung account na yun at magbukas ng bago.nabastusan lang ako sa sagot nila.

isa pa.nawala ko atm ko,at kailangan pupunta nanaman ako sa province para asikasuhin yun.hay nako.*** saan pa na nag sulputan ang bdo sa bawat kanto ng metro manila.

BPI has already implemented "BANK ANYWHERE" for most of its transactions. NO service charge for inter-branch deposit including provincials. Request for new ATM, bank certification , etc can be done in any of 600+ BPI branches.

[andyNoman]

I have my BPI account. Madali nga lang talaga sa BPI kasi nakikita mo lahat ng transaction mo online.

http://www.ofwbisdak.blogspot.com

[dinky207]

avoid Banco De Oro; their minimum is the highest (5thou) and their ID requirements the strictest