Banco de Oro Unibank Inc. (BDO) is one of the best banks in the Philippines awarded by Finance Asia, a famous finance and business publication in Asia and the Pacific.
Facts about BDO Bank Philippines
BDO Philippines is one of the companies owned and managed by SM group of Henry Sy and was included in the top 10 companies in the Philippines for 2009.
It was awarded as best domestic bank in the Philippines by Finance Asia for 2009. The survey period is from June 2009 to May 2010. BDO has many banks all over the Philippines and you can see it in every SM malls.
BDO has also longer banking hours compared to other Philippine banks. Because of that, there’s no doubt BDO became the best domestic bank in the Philippines.
Steps in Opening a BDO Savings Account
If you want to open a bank account in BDO Philippines, just follow the procedures below and complete the needed requirements in opening an account.
1. Visit the BDO bank of your choice and bring the following requirements for opening a bank account. It would be better to go to SM mall, for sure there is a BDO bank inside.
- Two (2) valid and recent IDs with your name and picture
- Two (2) Photocopies of your ID
- IDs acceptable for opening a savings account can be: Passport, Driver’s license, PRC ID, NBI clearance, Police clearance, Postal ID, Voter’s ID, Barangay certification, GSIS e-Card, SSS ID, Philhealth card, Senior Citizen Card, OWWA ID, OFW ID, Seaman’s Book, Alien Certification of Registration/Immigrant Certificate of Registration, and other Government office IDs
- Billing Statement and 2 photocopies in order to verify your address. Billing statement can be Electric bill, Telephone bill, Water bill, Credit Card bill, Cellphone bill etc.
- Two (2) copies 1×1 latest ID picture
If you want to see the complete list of valid IDs you can use for opening an account, you can visit this post to learn more:List of Valid ID for Opening a Bank Savings Account in the Philippines
2.) Upon entering the bank, proceed to New Account Desk. Tell the bank officer you want to open a bank account and then fill-up all forms that will be given to you.
3.) Give the initial deposit for your savings account. Your initial deposit should be equal or more than the maintaining balance.
Banks allowed the initial deposit to be below maintaining balance when opening an account but you need to add money later to it so that it will be above maintaining balance.
Minimum Initial Deposit for BDO Savings Account
| Account Type | Minimum Initial Deposit |
|---|---|
| Peso Passbook Savings Account (with or without ATM) | Php 5,000.00 |
| Peso ATM (without passbook) | Php 2,000.000 |
| Kabayan Peso Savings Account | Php 50.00 |
| Peso Savings Account Payroll | Php 100.00 |
| Junior Savers Club | Php 500.00 |
| Power Teens Club | Php 2,000.00 |
| Club 60 Peso | Php 5,000.00 |
| Direct Deposit Peso Savings Account | Php 0.00 |
| Smart Guarantor | Php 60,000.00 |
| Optimum Savings Account – Personal | Php 30,000.00 |
| Optimum Savings Account-Commercial | Php 50,000.00 |
| Super Savings | Php 100,000.00 |
| Super Savings – ATF | Php 100,000.00 |
4. Claim your BDO ATM card or passbook which normally available for pick-up after 3-5 banking days.
In opening a BDO bank account, it is advisable to bring all requirements for quick processing and approval of your account. Is this article helpful and informative? Just leave your comment below or subscribe to the RSS feed.
