Philippine National Bank (PNB) is one of the oldest and most established banks in the Philippines which is also listed in Philippine Stock Exchange (PSE: PNB) as a public company. PNB is one of the largest banks in the Philippines, ranking fourth in terms of assets.
It was established by the Philippine government on July 22, 1916, during the American colonial period, and became the first universal bank in the Philippines in 1980. It was privatized in 1989 and currently has over 100 branches throughout Asia, Europe, the Middle East and North America.
In order to open a savings or checking account in PNB, complete requirements are very important for faster approval and to avoid hassles. It is also advisable to apply Internet, mobile and phone banking at the same time when you apply for PNB bank account.
Internet or phone banking is a good service offered by PNB since it will give you access to your account anytime and anywhere as long as there is an internet connection. You can also pay your bills like MERALCO bills online if you have Internet banking account.
You can see below the step by step procedures on opening a savings or checking account in PNB.
- Select first what PNB branch will you going to open an account. Choose the branch near your residence or place of work.
- Bring complete requirements when opening PNB bank account.
- Bring money for initial deposit. It is advisable to have an initial deposit equal to maintaining balance to avoid fees later. For ATM and passbook savings account, initial deposit is P5,000 and P10,000 respectively.
- For peso checking account, minimum initial deposit is P10,000.
- Don’t forget to bring ball pen when opening a bank account since you need to fill-up application forms. It is better to be ready than to borrow ball pen from others.
- Go to new account desk upon arriving in the bank. Bank officer will give you application forms; fill it up with the required data completely.
- When you’re finished in filling up all forms, give your initial deposit together with the application forms and requirements to the bank officer for checking and approval. This may take just few minutes if there are no problems with your application forms and requirements.
- Normally, ATM or passbook will be available for pick-up to your PNB branch after 5 banking days had passed or you may ask the bank officer when it will be available to be sure.
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