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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