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Requirements for Opening a Bank Savings Account

Savings account is a helpful tool to save money regularly. It offers many benefits and services you may need for budgeting and financial planning. Savings account with online banking can be a powerful instrument to monitor your expenses and saving.

With online banking, you can pay your bills such as Meralco bills, phone bills, water bills, credit card bill and many more. There are really many benefits having a savings account, that’s why it is recommended to apply for one.

In order to open a savings account, visit the bank  of your choice and bring the following requirements for opening a savings account. I suggest to open a savings account in a well established bank like BPI, BDO, Metrobank, PSBank, RCBC, DBP, PNB, Land Bank, Security Bank and ChinaBank.

Requirements for opening a savings account:

  • Two (2) valid and recent IDs with your name and photo
  • One (1) Photocopy of  ID that you will present

IDs acceptable for opening a savings account can be:

  • Passport
  • Driver’s license
  •  Professional Regulations Commission (PRC) ID
  • National Bureau of Investigation (NBI) clearance
  •  Police clearance
  • Postal ID
  • Voter’s ID
  • Barangay certification
  • Government Service and Insurance System (GSIS) e-Card
  • Social Security System (SSS) card
  • Philhealth card
  • Senior Citizen Card
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Alien Certification of Registration/Immigrant Certificate of Registration
  • Government office ID (e.g. Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs), Certification from the National Council for the Welfare of Disabled Persons (NCWDP), Department of Social Welfare and Development (DSWD) Certification
  • Other valid IDs issued by the Government
  • Original billing statement and 2 photocopies of it in order to verify your address. Billing statement can be Electric bill, Telephone bill, Water bill, Credit Card bill, Cellphone bill etc.
  • Two (2) 1×1 latest ID picture
  • Initial Deposit for Opening Account normally range from P500-10,000 depending on what bank
  • Ball pen for filling up application forms
  • A smile

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Related Posts

  1. How to Open a BPI Savings Account
  2. How to Open a BDO Bank Account
  3. Requirements for Opening an Account at Land Bank Philippines
  4. Guide on Opening a Union Bank Philippines Account
  5. Tips on Opening a Bank Savings Account at Punjab National Bank
← Older Comments
  • Elleenpascual

    can a representative po b can open a time deposit account since my uncle is living in usa, provided with all the requirements are present? need your answer po…tnx po…

    • Anonymous

      Hi Elleen,

      I’m not sure, but in my knowledge, only the applicant in his or her own name can open a time deposit. An applicant cannot open a TD for other people.

  • Annievirgo411

    Hello BPI,

    I’m a self-employed housewife so i don’t have much of your valid ID requirements. I only have a recent Postal ID and a current Health Card (Fortune Care Plus) ID without picture. I have a billing statements of Bayantel, Sky Cable and Sky Broadband bills but they are all in the name of my husband. Is there a possibility for me to open a BPI Family Saving Account in your bank? Please guide me.

    Thank you very much.

    Sincerely,

    Mrs. ALAB

    • Anonymous

      Hi Mrs. Alab,

      Yes you can open an account. Just go to BPI with your requirements and initial deposit of your new account. It is ok to use the billing statement of your husband.

    • Anonymous

      Hi Mrs. Alab,

      Yes you can open an account. Just go to BPI with your requirements and initial deposit of your new account. It is ok to use the billing statement of your husband.

  • Quelz_03

    good day po..gusto ko po sana mag open ng savings account ..meron lng po aq NBI clearance ..pwede po ba?..thanks po..

    • Anonymous

      Hi there,

      Most banks require two valid IDs, maybe you can get another ID like barangay clearance or postal ID.

  • pochie

    helo po…gusto ko po sana mag-open ng savings account,just wondering kung saang bank yung may initial deposit na P500?

    • Anonymous

      Hi Pochie,

      I know BPI is offering an account with P500 initial deposit through their BPI ATM savings account.

  • Nelvin Cagas

    HI po,,,gusto ko pung mag open account sa BDO kaso wala po akung billing statement PANO YON?

    • Anonymous

      Hi Nelvin,

      You can use the billing statement of your parents or the apartment you are living right now.

      • Nelvin Cagas

        thx po…tska pwede po ba ung ID Ko sa work ko? tska ung NSO berthcertificate ko? ung gamitin ko para sa requirements ko para ID…

        • Anonymous

          Hi,

          Yup pwede yan.

          • Nelvin Cagas

            thank u po

  • Ydnac_21

    hi..pano po ba mag open ng ps bank atm tru internet??

    • Anonymous

      Hi, There’s no way to open a PSBank thru Internet, you must go in-person to the bank.

  • Anonymous

    Hi Clariz,

    If same branch of the bank, I think not possible and not practical. If other branch, it is ok.

  • Anonymous

    HI,

    Pwedeng pwede yan..

  • Anonymous

    HI,

    Pwedeng pwede yan..

  • Anonymous

    As per BSP (Bangko Sentral ng Pilipinas) regulation, pwede na kahit isang ID lang. But most banks still require two IDs. But you can insists to the bank that you don’t have any ID to furnish.

  • Anonymous

    Hi Ray,

    I am not connected to PayPal or any of the banks/companies mentioned in this blog but I do give information. I know you can apply for Union Bank EON card so you can connect your PayPal to that and after that you can withdraw cash from EON card.

  • Anonymous

    Hi Rener,

    I think it is still valid since the expiration of your card is until 12/17 based on what you said.

  • Gretchenugayan

    ask ko lng po if ok mg open ng accnt.s BPI kng isang id lang tpos add ko nlanfg ung birth certificate po ok lng poh bah tpos first open ko lng poh ung 1000 ask lng poh ung savings accnt.lng meron po ba nun?pls response immediately.tnx

  • Chokieboy

    But i think it’s better if we go to any bank branches and ask the teller. Of course, they know more and maybe you can ask them if you can deposit below the required amount. But this site is still a great help..

    • Gretchenugayan

      un nga ginawa ko na din before ako pumunta dun ng inquire muna ako dito para sure pagdting pla dun d tangapin hmmm kaiins tlga….laki pa nman expectation ko s bpi i thought it was good,,,pangit pa ng serving nla,,,,,tanong me s teller tgal pa ko cnagot nkipagkwentuhan p cla branch pla ng binan :-(

  • Anonymous

    Hi Marion, yes you ca deposit that amount.

  • Lee joong Seung Hae

    minum of 500 pesos kaya pwede kung 500 higher ang dedeposit muh

  • Francesdei

    tatanggapin ba nila ang school id?

    • napadaan lang

      Oo kung currently enrolled ka.

  • erfen

    hi. magkano po ang downpayment for joint account?

  • Angie

    hi, im currently working in uae, gusto ko sana mag open ng ofw savings account sa metrobank or sa BPI, pano ba yung process at ano yung mga requirements? sakali umuwi ako sa pilipinas automatic activated ba yung ATM card? thanks a lot.

  • Che

    hi, pwede po ba ako ulit mag open ng account, dahil yung last account ko po na atm ay na close na po, dahil nagbakasyon po ako ng matagal. pwede pa po ba ulit.

  • Annbakian

    hi po gusto ko po mg open account sa landbank. paano po b pag processo? saka ung mga requiremenst n kailangan ng rent lng kc aq ng bahay e gusto ko po mag deposit para makaipon kasi pag hawak ko ang pera nagagastos ko po kasi. pls reply

  • White_flame08

    Magkano ang interest rate ng Savings Account sa Allied bank?

  • irene g. doble

    hi can i use barangay clearance for added req?

  • monique ramos

    hello .. kaka 18 ko lng nung may , wla pa kong any valid id,s .. pero gusto q mg open ng pnb account , i have 10k na for deposit .. anu po pwd kong dalhin .. in not student also .. ung mga id nung college ako wla na pno po un /

  • Kimberly_deguzman20

    hello .. kaka 18 ko lng nung may , wla pa kong any valid id,s .. pero gusto q mg open ng pnb account , i have 10k na for deposit .. anu po pwd kong dalhin .. in not student also .. ung mga id nung college ako wla na pno po un /
    Like Reply

    • http://learnfinancialeducation.com/ Financail Education

      Hi Kimberly,

      You need at least two ID. You cannot open an account if you don’t have.

  • Easyboy8806

    Is it possible to open an account on landbank for atm savings card without a proof of billing and/or TIN number? but I have Passport, NBI, Postal, Barangay Clearance, Police Clearance and many others which can be considered as valid ID’s. Thanks

    • http://learnfinancialeducation.com/ learnfe

      Hi easyboy8806,

      As per BSP, one valid ID is enough to open an account. However, many banks are not following this rule from Bangko Sentral ng Pilipinas, sometimes the banks still looks for proof of billing. But you can still try if you still don’t have a proof of billing.

    • http://learnfinancialeducation.com/ learnfe

      Hi,

      You need a proof of billing because the bank needs your address. they can’t verify you address if you cannot present a billing statement.

  • Marielle954

    tnong k lng po mgkno po ung byad pg nag open k ng account?

    • http://learnfinancialeducation.com/ learnfe

      Hi Marielle954,

      There’s no fee for opening an account but you need an initial deposit as low as Php 500 in BPI or P2000 at Metrobank.

  • JANICE GALLARES

    HELLO , I WOULD LIKE TO ASK IF STUDENT DRIVER LICENSE IS VALID SA PAG APPLY NG ACCOUNT SA BPI ? THANKS A LOT.

  • Apriltanguilig

    Ask lang po student palang po ako school id lang po ang meron ako pano po yun need ng dalawa?

  • Evascorpion44

    I have already account in PNB i would like to know my statement of accounts.

    • http://learnfinancialeducation.com/ learnfe

      Hi Evascorpion44,

      You can get it at the bank or through online banking if you have.

  • Lea M. Aventurado

    ok lang ba mag open acct.(bank book )ang 10k….and ok lang ba na checkfrom the Deped pang open ko….

    • http://learnfinancialeducation.com/ learnfe

      Hi Lea,

      Yes you can open an account with 10k but I’m not sure if it is ok with any bank. But I think it will be ok since it is your name indicated in the check.

  • Jesicah_08

    gudeve po ask k lng f pwede po b ung school id peo invalid n poh xa.balak k kc mg open ATM accnt

    • http://learnfinancialeducation.com/ learnfe

      Hi Jesicah_08,

      The ID should be valid, you can apply for a postal ID or voter’s ID if you have none.

  • princess

    ask ko lng po,i am new in puerto princesa and I work here,i wanted to open an account but my problem is one of the requirement is the billing statement I am satying in staff house of the company and I dont have any billing statement even cellphone bill,what would I present to the new account officer?

    • http://learnfinancialeducation.com/ learnfe

      Hi Princess,

      Any letter or mail from your company with your name & address will suffice I think.

  • Ashannafranchezcka

    hello po..can i ask about the billing statement?anu po pwd cu ipresent if wla acung billing statement?even cellphone bill po kc wla acu..un lang pu kc kulang cu ee..thanks po..have a nice day

    • Ashannafranchezcka

      and im just ony 18 years old po..di rin po acu ngwowork..thanks po

    • http://learnfinancialeducation.com/ learnfe

      Hi, You can use billing statement of your parents or siblings or the company you are working right now.

      • Aljouae

        hindi pa ba pwede ung ID na may address? bakit kailangan pa billing statement?

        • http://learnfinancialeducation.com/ learnfe

          Hi Aljouae,

          A billing statement is mandatory requirement when opening a bank account.

      • kaliwete

        Does the billing statement have to be the most recent? Thank you.

        • http://learnfinancialeducation.com/ learnfe

          Hi, not necessary but at least the one that you have in the past 6 months.

  • Memeha_123

    pwede magtanong? for example mg de2posit aq ng 3k at umabot na ng 10k ang pera ko pwede ko ba xa ma withdraw just in case na kailangan ko? thanks.

  • Memeha_123

    I mean syempre hindi ko kukunin lahat.. kahit 2k lang or what.. just in case lang na kailangan ko makakakuha ba ko? me atm ba aq? 

← Older Comments

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