What bank to open a savings account?

[john_pro]

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

Are you sure? BSP implemented a rule of allowing opening of savings account of one government-issued ID listed by the BSP. This is a very strict compliance by BSP that is being addressed to all banks, and if any bank violated this rule, you may report it to BSP. Banks are afraid of BSP.

[dinky207]

Are you sure? BSP implemented a rule of allowing opening of savings account of one government-issued ID listed by the BSP. This is a very strict compliance by BSP that is being addressed to all banks, and if any bank violated this rule, you may report it to BSP. Banks are afraid of BSP.

I saw, and printed the BSP memo. Its on the RCBC Savings website if anyone needs it.

clearly says 1 ID, from the usual list. but BDO insists on their own list -passport, new SSS, etc
the faster IDs such as postal and brgy are not acceptable at BDO. and I have an account there for 10 years; they lost my ID copies I used to open the account. and they insist on new SSS card or passport (has to be the new one) to fully transact business (deposit checks etc) when told the new SSS takes months they just say policy.

most banks want 2 but at least that is reasonable.

[john_pro]

I saw, and printed the BSP memo. Its on the RCBC Savings website if anyone needs it.

clearly says 1 ID, from the usual list. but BDO insists on their own list -passport, new SSS, etc
the faster IDs such as postal and brgy are not acceptable at BDO. and I have an account there for 10 years; they lost my ID copies I used to open the account. and they insist on new SSS card or passport (has to be the new one) to fully transact business (deposit checks etc) when told the new SSS takes months they just say policy.

most banks want 2 but at least that is reasonable.

If you have all the free time, you may report it to BSP about this. Wala pa kasi nagtatangkang magreklamo, kaya dedma sila.

[dinky207]

the most reasonable are:
RCBC Savings
Planters
Premiere

close is Robinsons, they have proof of billing as requirement but this can be any bill with same family name/address

BDO most unreasonable

[the_renaissance]

isa lang valid ID ko, anong bank ba may requirement na 1 valid ID only? then initial deposit?

[0wstalaga]

Well the only banks i've used so far are Metrobank, BPI and BDO

BPI Family is not advisable for me because you can't go to any BPI bank to deposit unless it's BPI Family bank. You can use each of their ATMS though whichever of the two is your bank.

BPI is ok since you can access your account online and it makes it easier to monitor your account. And as most people here mentioned, there are a lot of ATMs where you can withdraw anytime. And high tech na sila, am not sure if it's the case with all branches but i know a branch that has machines in which you enter what kind of transaction you're doing and the amount and the account number and voila you get a ticket #, you just wait for your number to be flashed and you're done. Easy. No more paper forms to fill.

Metrobank, I mostly got to use as payroll account. It's okay to use as a bank account, I was also able to connect it with my Paypal account. However their online banking is kinda hard to use. I think you need to change your password every month or so? Forgot already but that's the reason i'm not into online banking with them. That was 2 years ago, am not sure if it has improved now though.

For BDO, i only got to use it briefly as a payroll account. I don't know much about it but somehow i don't like it. Even though they are open until late in the day i still don't like it somehow.

[summerkiss8]

Sa BPI required mag-present ng proof of billing para sa verification ng address diba? Kung mag-oopen ako ng account (I have an ATM payroll account with them already but I want to open a passbook savings account), pwede bang hindi sa 'kin nakapangalan 'yung bill?

Thanks

[hard.drive]

hi! i want to open a passbook savings account sa bpi..
anu-ano po ba requirements so that once na pumunta ko sa bpi, ok na lahat..
thanks po sa mga makakasagot..

[k_ruivivar]

hi! i want to open a passbook savings account sa bpi..
anu-ano po ba requirements so that once na pumunta ko sa bpi, ok na lahat..
thanks po sa mga makakasagot..

1. ) one valid ID based from BSP set of valid IDS
http://www.bsp.gov.ph/regulations/re...type=1&id=2059.

2. ) proof of billing, kahit hindi nakapangalan saiyo

But when u have active account w/ BPI, just tell the low counter you have account with BPI, just present your ID.

I hope this will help.

[mackygoof]

1. ) one valid ID based from BSP set of valid IDS
http://www.bsp.gov.ph/regulations/re...type=1&id=2059.

2. ) proof of billing, kahit hindi nakapangalan saiyo

But when u have active account w/ BPI, just tell the low counter you have account with BPI, just present your ID.

I hope this will help.

As much as possible gov't issued id. Opened 2 days ago even if i have 3 accounts already at bpi and they still required me a gov't issued id(e.g. sss, drivers license) when i presented my company id. Bring a picture too for their keeping. gave them 1x1. They didn't require me any proof of billing maybe bec i have an existing account already.

[the_renaissance]

we just opened a joint account in MBTC, luckily I had my student license permit and a passport.

2000 for ATM account
10000 for Passbook account

[john_pro]

BPI has a new product called Easy Saver Savings Account. Savings account with no maintaining balance. This is very ideal to those who can't maintain or don't want a savings account with maintaining balance.

[Uinen]

Eto for passbook regular/personal savings account. Pili lang kayo sa baba kung saan nyo gusto magdeposit for regular savings.
Bali eto ang mga latest rates as of March, 2011:

PNB -- initial deposit is 10,000
rate: 0.50% per annum


Unionbank -- initial deposit is 10,000
rate: 0.50% per annum


Chinabank -- initial deposit is 1,000
rate: 0.50 per annum


BPI -- (for passbook savings) intial deposit is 10,000
rate: 0.5000% per annum
-- other savings options for BPI click here:
http://info.bpiexpressonline.com/bpiprod/produpd.nsf/Deposit+Rates/DepositRates1



BDO -- (for regular checking account) intial deposit is 5,000
-- rate: 0.5000%



Allied bank -- intial deposit is 10,000
rate: 0.5000% per annum


RCBC -- intial deposit is 10,000
rate: 0.5%


security bank -- intial deposit is 10,000
rate: 0.5% per annum


Metrobank -- intial deposit is 10,000
rate: 0.50% per annum


For me I'll go for Chinabank kasi 1,000 lang ang minimum maintaining balance nya at pwede pa tumubo w/ 0.50% rate per annum.

[mackygoof]

I would suggest to open savings account near you. Kasi if gagastos ka din ng pamasahe papunta sa bank, then parang wala na din kuwenta ang interest nung savings mo. convenient din dapat, like transfer ng funds, plenty of atm machines, ease to deposit/withdraw without wasting too much time sa pagpila.

[Max_Buwaya]

We have a Diamond SA from Chinabank, 30-days at 1.75% pa. If you'll make it 60 days, interest will go up to 2% (and 2.25% sa 90 days).

Php50,000 nga lang ang initial placement but for those who can afford, you can give it a try. Anyway, if your plan is to really save, then you might consider TDs na mas mataas ang rates compared to regular SAs na normally e nasa 0.5% lang. Meron ding Junior SA sa BDO ang anak ko pero I'm planning to transfer it na din sa Chinabank dahil wala naman pinag-iba ang rate ng una, 0.5% pa din naman.

Rural bank rates are really tempting pero sa panahon ngayon, parang mahirap talaga magtiwala. This coming from a bank employee myself. By the way, I'll never open a savings account with our bank. Mahirap na, maski sino sa officemates ko, pwede akong masilip.

[celsky]

Hello everyone. I am planning to open an account and I would like to ask some questions and some advices, if you like. My question is which bank offers low initial deposit requirement, maybe about 500 or less? And also the minimum deposit needed when I would like to deposit? Thanks...

for BPI copy this link to your browser http://info.bpiexpressonline.com/bpi.../DepositRates1

for BDO savings if ATM only to open you need 2000 and ATM with passbook 5000...but if you want lang ng ATM you can purchase BDO cashcard at any branch for only 125.00 pesos,and maintaning balance is only 100..if cashcard na with name 3-5 banking days bago makukuha at capacity niya is 25000 pwede mo isave pag walang name na cashcard makukuha mo kaagad but 10k lang maximum deposit..

[john_pro]

Hello everyone. I am planning to open an account and I would like to ask some questions and some advices, if you like. My question is which bank offers low initial deposit requirement, maybe about 500 or less? And also the minimum deposit needed when I would like to deposit? Thanks...

BPI has a new product called Easy Saver Savings Account. Savings account with no maintaining balance. This is very ideal to those who can't maintain or don't want a savings account with maintaining balance. Here are some vital info's for BPI Easy Saver Savings Account:

Initial Deposit: PHP200.00
Maintaining Balance: none
Maintaining Balance to earn interest: PHP1,000.00
Minimum deposit needed: PHP 0.01

Initial issuance of ATM Card: PHP50.00
Every Successful cash withdrawal from any BPI or BPI Family ATM: PHP5.00


For Regular BPI ATM Savings Account:

Initial Deposit: PHP500.00
Maintaining Balance: PHP3,000.00 (within two months prior from the date of account opening.)
To Earn Interest: PHP5,000.00
Minimum deposit needed: PHP0.01

Initial issuance of ATM Card: Free

Every Successful cash withdrawal from any BPI or BPI Family ATM: Free

[irishy]

Yung isusuggest ko isn't exactly a bank pero guaranteed na makakasave ka kasi para siyang time deposit where you can only claim your savings after a period of time with interest For P550, you get P300 start-up savings along with P100,000 personal accident insurance and P50,000 cash burial assistance. Tapos yung start-up savings mo, pwedeng dagdagan whenever mo gusto. Pwedeng 2x a months, pwedeng once every 3 months, depende sa saving habit mo. Tapos all you have to do is buy a card na may varying amounts (P300, P500, P1,000, etc) na pang dagdag mo sa savings mo. So para ka lang nagpapaload. I just started this year and so far so good Syempre the maturation period depends on the amounts you save pero you can claim naman ng lump sum eh. I only saw this via Facebook so if you guys wanna save this way, check it out na lang Here's the link to their official fan page: http://on.fb.me/aQglRw

[kapams]

Hi Mommies! Nahirapan ako turuan ang darling ko magsave. Pano ba dapat and saan ok?

[happypink]

Why don’t you open a savings account for her?