China Banking Corporation or commonly known as China Bank is the first privately-owned commercial bank in the Philippines founded in 1920 by leading industrialists and businessmen of that time. The year 2010 is the 90th year of China Bank in successful operations in the Philippines.
Just like other premiere Philippine banks, it is listed in Philippine Stock Exchange as a public company. It was recently cited as one of the top 100 companies in South East Asia for creating wealth for its shareholders.
Some of the services offered by China Bank includes the following: savings, loans, remittances, investments, trust services and other services. It has Internet, phone, mobile and ATM banking. It has also one of the lowest minimum initial deposit for opening a savings account. It only requires P1,000 for opening a savings account. Although it is a universal bank, it has few branches in some far away provinces of the Philippines. Most of its branches are concentrated in Luzon.
In opening a savings or checking account, you may follow the procedures listed below in order to have a smooth processing of your application. Note that applying for a bank account can be quick once you have all the requirements.
1. Choose a bank branch near your place where it will be convenient for you to go even if you have busy schedule.
2. Prepare all requirements for opening a new savings account or checking account. Click here to view the complete requirements when opening a new bank account.
3. Upon entering the bank, proceed immediately to the new account desk and then tell the bank officer that you want to open a new bank account. He or she will give you application forms and signature cards.
4. Fill-up all application forms completely. Ask questions to the bank officer when you are in doubt.
5. Pass all requirements to the bank officer together with the initial deposit of P1,000. (for passbook with ATM savings account)
6. When application is approved, return to the bank to pick-up your ATM which is usually available after 3-5 banking days.
China Bank is one of the best banks in the Philippines that has many services you can avail. Opening an account will be easy when you know the procedures and requirements so remember to bring it before going to the bank.