Rizal Commercial Banking Corporation or RCBC is one of the biggest banks in the Philippines owned by Yuchengco Group of Companies (YGC). Just like BPI and BDO, it offers telephone, mobile and online banking. It is a member of BancNet, a popular bank organization in the Philippines.
When applying for a savings or checking account in RCBC, you need to bring complete requirements to avoid hassles and for faster approval. It is better to apply online banking at the same time when you apply for a RCBC account. Online banking is a good feature offered by most of the banks since it will give you access to your account anytime, anywhere as long as there is an internet connection.
When opening a savings or checking account in RCBC, you need to do the following procedures.
- Select first what RCBC branch will you going to open an account. This step is important because whenever you need to go your bank, it will be easier for you to visit if it is near your residence or place of work.
- Always bring ball pen when opening a bank account since you need to fill-up application forms. Most of the time, there’s no ball pen available in the bank or there’s a ball pen but there’s no ink coming out of it. It is better to be ready.
- Bring complete requirements when opening RCBC bank account. These includes:
- Two (2) 1×1 ID picture
- Two (2) Valid IDs and photocopies(can be SSS ID, GSIS ID, PRC ID, Passport, Driver’s License, Postal ID or other ID issued by government)
For foreigners, you need to bring your passport and Alien Registration card for faster approval.
- Billing statements and 2 photocopies (these can be Meralco bill, Water utility bill, phone bill, cellphone bill or credit card bill or any bill statement with your name or your parents and address)
- Money for initial deposit – It is advisable to have an initial deposit equal to maintaining balance to avoid fees later. The following tables outline initial deposit, maintaining balance and interest rate for RCBC bank account.
I. SAVINGS ACCOUNT PRODUCTS
A. Regular Savings Account
| Passbook | Passbook – SWAT* | MyRCBC Access Card | ATM–SWAT | |
| Initial Deposit | 10,000 | 25,000 | 3,000 | 25,000 |
| Maintaining Balance | 10,000 | 25,000 | 3,000 | 25,000 |
| Balance to Earn Interest | 10,000 | 25,000 | 10,000 | 25,000 |
| Interest Rate | 0.5% | 0.5% | 0.5% | 0.5% |
B. Dragon Savings Account
| Passbook | Passbook – SWAT* | MyRCBC Access Card | ATM–SWAT | |
| Initial Deposit | 25,000 | 50,000 | 25,000 | 25,000 |
| Maintaining Balance | 25,000 | 50,000 | 25,000 | 25,000 |
| Balance to Earn Interest | 25,000 | 50,000 | 25,000 | 25,000 |
| Interest Rate | ||||
| 25K to < 100 K | 1.00% | 1.00% | 1.00% | 1.00% |
| 100 K to < 500 K | 2.00% | 2.00% | 2.00% | 2.00% |
| 500 K to < 1.0 M | 2.50% | 2.50% | 2.50% | 2.50% |
| 1.0 M to < 5.0 M | 2.75% | 2.75% | 2.75% | 2.75% |
| 5.0 M to < 10.0 M | 3.00% | 3.00% | 3.00% | 3.00% |
| 10.0 M and above | 3.50% | 3.50% | 3.50% | 3.50% |
C. Super Earner
| Passbook | ATM | |
| Initial Deposit | 25,000 | 25,000 |
| Maintaining Balance | 25,000 | 25,000 |
| Balance to Earn Interest | 25,000 | 25,000 |
| Interest Rate | ||
| 25K to < 100 K | 1.00% | 1.00% |
| 100 K to < 250 K | 1.25% | 1.25% |
| 250 K to < 500 K | 1.50% | 1.50% |
| 500 K to < 1.0 M | 1.75% | 1.75% |
| 1.0 M to < 5.0 M | 2.00% | 2.00% |
| 5.0 M and above | 2.50% | 2.50% |
D. eWoman Savings Account
| Passbook | ATM | |
| Initial Deposit | 15,000 | 15,000 |
| Maintaining Balance | 15,000 | 15,000 |
| Balance to Earn Interest | 15,000 | 15,000 |
| Interest Rate |
E. SSS Pensioner
| Passbook | ATM | |
| Initial Deposit | – | – |
| Maintaining Balance | 100 | 100 |
| Balance to Earn Interest | 10,000 | 10,000 |
| Interest Rate | 0.5% | 0.5% |
F. Payroll Savings Account
| ATM | |
| Initial Deposit | 100 |
| Maintaining Balance | – |
| Balance to Earn Interest | 10,000 |
| Interest Rate | 0.5% |
II. CURRENT ACCOUNT PRODUCTS
A. Regular Checking Account
| w/ ATM | w/o ATM | C/A SWAT | C/A ATM–SWAT * | |
| Initial Deposit | 5,000 | 10,000 | – | – |
| Maintaining Balance | 5,000 | 10,000 | – | – |
| Balance to Earn Interest | n/a | n/a | n/a | n/a |
| Interest Rate | n/a | n/a | n/a | n/a |
B. Super Value Checking Account
| w/ ATM | w/o ATM | |
| Initial Deposit | 15,000 | 15,000 |
| Maintaining Balance | 15,000 | 15,000 |
| Balance to Earn Interest | 0.5% | 0.5% |
| Interest Rate | 0.5% | 0.5% |
C. eWoman Checking Account
| Initial Deposit | 35,000 |
| Maintaining Balance | 35,000 |
| Balance to Earn Interest | n/a |
| Interest Rate | n/a |
4. Go to new account desk upon arriving in the bank. Bank officer will give you application forms; fill it up with the required data neatly and completely. Ask the bank officer when you have questions or in doubt.
5. Give your initial deposit along with the application forms and requirements to the bank officer.
6. Wait for 3-5 banking days before getting your passbook or ATM card. Ask the bank officer when you can get it to be sure. Normally, ATM or passbook will be available for pick-up after 5 banking days had passed.
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September 15th, 2010 at 06:23
can I use NSO birth certificate as requirement in opening RCBC bank account? coz i only have 1 valid ID…
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Gil Reply:
September 15th, 2010 at 09:00
Yes, you can use it. I know most bank accept it as a requirement.
Thanks for the visit.
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Zaldy Tupas Reply:
October 1st, 2011 at 01:52
Hi Gil,
I am planning to apply for a checking account can you recommend me a bank that has a low initial deposit like 5k or below
thanks zaldy
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October 17th, 2010 at 04:21
Good day!
My current ATM savings in RCBC is 10,000+ pesos. How it will earn interest? Is there any maintaining balance to reach? As I have checked my ATM savings account, it’s still fix amount. Pls advise.
Thanks,
Verick De los Reyes
[Reply]
Gil Reply:
October 17th, 2010 at 11:52
RCBC ATM savings account will earn interest of 0.5% per year if it has P10,000 balance.
So it will only earn P50 per year, that’s very small. If you want to earn higher, you can visit this: http://learnfinancialeducation.com/6-primary-reasons-to-invest-in-mutual-funds/
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January 1st, 2011 at 12:19
how much will be the interest monthly, if the amount to be deposited is 300thou?pls reply
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Gil Reply:
January 1st, 2011 at 13:37
Hi djoanne,
Normally, savings account pays 1-2% interest per year. So if you want monthly interest, just divide by 12 the 1-2% which is 0.08-0.17% per month. 300,000×0.0017=510.
Your money can earn more by investing in mutual fund: http://learnfinancialeducation.com/category/mutual-funds/
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January 29th, 2011 at 15:19
can i open an atm account in which i can receive money from abroad without any mentaining balance? thank you
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Gil Reply:
January 30th, 2011 at 00:42
Hi Ethel,
I know BDO Kabayan savings account has no maintaining balance and you can receive remittance from it.
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January 30th, 2011 at 07:37
Hi gil, well i was wondering. whats the difference between savings account. i really dont have any idea about accounts.
i was looking for a saving account that have the smallest opening fee or something..
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Gil Reply:
January 31st, 2011 at 09:08
Hi Efren,
A savings account is a typical bank product where you can put money as a saving. It will earn an interest normally less than 1% per year.
BPI and BDO has low initial deposit and maintaining balance for savings account.
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March 13th, 2011 at 08:17
im ofw here in the uae, can i invest in mutual funds in the philippines even though im still here abroad, if i can, HOW TO DO IT?
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Gil Reply:
March 13th, 2011 at 22:47
Hi Norman,
Yuo it is possible. I have FAMI mutual funds. You can check this out if you are interested: http://fami.com.ph/?page_id=308
Just send me an email if you still have questions.
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May 1st, 2011 at 21:07
hi…salam
l just want to ask if how could i iquir may ATM card in internet?i am here in abroad i want to check if my money is already in my account.
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Gil Reply:
May 2nd, 2011 at 23:06
Hi,
One way to check is through online banking if you have or ask your relatives to inquire for the account balance.
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May 5th, 2011 at 14:29
Hi, would like to know how to close an ATM savings account with RCBC. If I withdraw all my money will it close the account? I’ve already contacted RCBC through email and the response I got was that they could not really tell me without further information from me. They asked me to provide my account number and other details and that they will forward it to my local branch. I didn’t reply because I’m wary of emails asking me to give my account details. Please help! Thanks..
[Reply]
Gil Reply:
May 7th, 2011 at 02:34
Hi Gail,
The best action is to withdraw all of your money and forget your account.
It will automatically close.
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May 20th, 2011 at 14:22
How much to open a new account as a student!! at RCBC
bank
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Gil Reply:
May 20th, 2011 at 23:57
Hi Edwin,
You can open an account as low as P3,000.
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May 30th, 2011 at 03:45
Hi Ms. Gil, interesado po ako sa mutual fund… pero, gusto ko sana magpatulong sau kasi parang madami kana po alam tungkol don. at wala din po ako kilala na broker. iniisip ko po kung sa stock exchange or mutual fund ako mas kikita. pwede mo po ako email kccaringal@yahoo.com… salamat po.
[Reply]
Gil Reply:
June 4th, 2011 at 08:55
Hi Kristine,
Kelangan pag aralan mo muna kung alin ang mas bagay sa ‘yo.
Ang mutual fund ay merong mas mababang opening deposit kaysa sa stocks account.
Para sa beginner, it is better to invest in MF than stocks. I recommend you to invest in BPI MF or FAMI.
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June 26th, 2011 at 13:18
how much po kung mag-oopen ng new account??yung pinaka mababang po.
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July 29th, 2011 at 10:03
bakit po kaya ganun? ndi q po mai-enroll account q s rcbc??
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November 6th, 2011 at 05:00
Panu pu malalaman kung valid pa yung rcbc atm ko? gusto ku pu sanang maghulog ng pera sa dti kung atm kaso almost 8months kuang hindi nahuhulugan,panu ku po kaya malalaman kung pwwedi pa atm ko?
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Poke Pekpek Reply:
November 9th, 2011 at 07:32
pumunta po kayo sa branches rcbc na malapit sa inyo
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December 5th, 2011 at 05:29
hi gud afternoon, may payroll account po ako since 2009 kaya lang poh hindi na nahulogan since 2010 to present…ask lng poh f close na po yung account ko gusto ko po sana gmitin yun for personal savings….pwede pa po yun..
thank you poh, Im hoping for reply..
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learnfe Reply:
December 5th, 2011 at 11:40
Hi Carfelove,
If your account has no balance since 2009, I think it is closed now. Just open a new savings account.
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December 16th, 2011 at 01:22
i need help.i lost my Passbook at almost 2yrs ng d na-huloggan ang account ko sa PNB manila branch.
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January 18th, 2012 at 08:28
pwd ba rcbc pang international? i mean kung may mag deposit sayo nasa america?
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learnfe Reply:
January 21st, 2012 at 00:21
Hi, yes you can use RCBC for remittance purposes.
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February 16th, 2012 at 06:55
ano po yung Dragon Saving Account at ang My RCBB access card
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April 10th, 2012 at 12:08
Is it possible for someone who is abroad to open an account in RCBC- Philippines? Does RCBC has an online banking similar to BPI direct
[Reply]
Gil Reply:
April 11th, 2012 at 01:30
Hi Sheryl,
RCBC has online banking but I checked their website, there’s no way to apply for a savings account online.
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