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
Before you can open a bank account in the Philippines, you should have the following requirements to do so. Here are those that you should have.
1. Two (2) valid and recent IDs with your name and photo (Update: As per Bangko Sentral ng Pilipinas guideline, a ONE valid photo-bearing ID is enough to open a new bank account. You can see the post here to learn more about this.) The acceptable IDs 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
2. One (1) Photocopy of ID that you will present
3. 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.
4. Two (2) 1×1 latest ID picture
5. Initial Deposit for opening a new bank account that normally range from P500-10,000 depending on what bank
6. Ball pen for filling up application forms (in case there’s no pen at the bank so you’re ready)
7. A smile ( to lighten up the day)
Final Note
These requirements can be changed or different from what the bank are requiring. However, these stuffs are the basic requirements that you should submit so it will be better to prepare these things before going to the bank of your choice.
Some banks also put in their website the specific requirements they are needing from their customers so it is advisable to visit their site. I’m sure you can get the real requirements there.
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Hi gudpm ask ko lang, i want to open an joint account with my boyfriend, im here in canada, it is possible.. Thank you:)
@Azel,
Opening a joint account requires you to go personally to the bank so I don’t think it is possible.
hi po ask lang po kung pwede po ba ipa valid ID yung Brgy. ID. and philhealth ..kasi po wala na po ako ibang id na pwede i present sa inyong branch… fresh graduate po ako.. thank you
Hi Ivy,
As per Bangko Sentral ng Pilipinas guideline to the banks, onve valid photo bearin ID is enough. Yung Philhealth pwede yan kung may photo at name mo.
Hi,
if mag open ako ng saving account sa BDO Peso Saving Account nag aacept po ba ng check as a Minimum initial Deposit??
Hi Maricar,
I’m not sure about it. Because the bank needs to clear the check first before they can get the money. Why not encash the check first?
ask ko lang po if pwede bang gamitin ang savings account to receive money from abroad? needed po ba tlaga ang billing statement? or pwede na po ang 2 valid IDs lang..
thank u.
Hi Jean,
A billing statement is required by the bank. Kahit sa parents mo pwedeng gamitin. Yung savings account, yes pwede sya to receive money from abroad.
Ask ko lang po, ala po kasi ako alam sa mga card card, I’m still 17 yrs old.. Is this BPI Debit Card? i want to apply BPI Debit Card kasi.. Can i use Debit Card in online payments? Like Paypal..
Hi Ron,
It is also my question actually, I think you can use a debit card in online payments like the BPI e-Prepaid debit card. It is one of the feature of that card. However, I don’t know if you can link it to your PayPal account.
im 18 yrs old po. gusto ko po sana kumuha ng atm pero i only have my school id lng talaga. ano pa po ang pwede kong ipresent?
Hi Samantha,
Your ID and billing of your parents will be enough. Try BPI Easy Saver account.
Dear Gil,
I have a friend in the Philippines and I want her to get a bank account at the BDO in AC. Do you know what the opening deposit requirements are (in PHP and USD) for a savings and checking account? Also, what are the maintenance balance requirements, if any, and what would happen if her balance fell below that amount? Thanks a million!
Sincerely,
Dave
David Bland recently posted..Case Study – My 1st Month Results with Internet Marketing
Hi David
You can see in this post the details of opening an account at BDO: http://learnfinancialeducation.com/how-to-open-a-bdo-bank-account/ and http://learninterestrates.com/category/bdo/
Do we need to have a land line to open an account?
Hi Bea,
It is not necessary, a mobile phone is enough.
Hi,
I would like to open a joint account with my filipina finacee.
I am Australian citizen living in Australia at present, she is living and working in Cebu.
I this possible?
Thankyou.
Dave
Hi Dave,
Yes it is possible but I think you have to visit the Philippines and then apply for joint account. You have to bring your passport and other IDs you have.
hello po tanung quh lang po .. pano kumuha ng creadit card sa BPI .. kong self employed ka lang po .. wala kang payslip at ITR na mai-present?? gusto ko po kasi kumuha ehh .. at saka talaga po bang walang ATM CARD yung savings account nila na my passbook .. yung my initial deposit lang na 10,000??
Hi michiko,
yeah it is hard to apply for credit card if you are self-employed. you need to have a business registration and proof of income. there is a savings account that has passbook and ATM card in BPI.
Hi ask ko lang po kung pwede ako mag deposit sa BPI BRanch kahit ang account ko ay under sa BPI FAMILY? express teller po? Medyo may kalayuan ksi sa amin ung branch ng bpi family dito sa cavite. gen trias kami, tapos dasma pa ang pinakamalapit na bpi family. sa libertad pasay po ksi kami nakatira nuon kaya dun ako nakapag open before. kaya now na andito kami sa cavite, medyo wala ng ganung branch ng bpi family. salamat
Tanong ko lang kung anu ano ang mga requirements sa pag kuha ng credit card .. thanks..
Hi you can see the requirements here: http://applyforbestcreditcards.com/requirements-for-credit-card-application-in-the-philippines/
hi tananong kulang po kung ok lang ba yong postal ID ko samahan ko nalang nag police o barangy clearance para maka open nang bank account kasi isa lang yong ID ko postal ID lang meron Ako..
Hi Jayvee,
Actually, one ID is enough for opening a bank account as per regulation from BSP. You cnas check out this: http://learninterestrates.com/list-of-valid-id-for-opening-a-bank-savings-account-in-the-philippines/
But to be sure, you can bring all the IDs you have.
hi i just want to ask if kahit ba baranggay clearance lang ang meron ako ok nba un???
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?
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.
Hi, definitely, you can withdraw all of your money. no problem about that. it’s your money after all.
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
and im just ony 18 years old po..di rin po acu ngwowork..thanks po
Hi, You can use billing statement of your parents or siblings or the company you are working right now.
hindi pa ba pwede ung ID na may address? bakit kailangan pa billing statement?
Hi Aljouae,
A billing statement is mandatory requirement when opening a bank account.
Does the billing statement have to be the most recent? Thank you.
Hi, not necessary but at least the one that you have in the past 6 months.
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?
Hi Princess,
Any letter or mail from your company with your name & address will suffice I think.
gudeve po ask k lng f pwede po b ung school id peo invalid n poh xa.balak k kc mg open ATM accnt
Hi Jesicah_08,
The ID should be valid, you can apply for a postal ID or voter’s ID if you have none.
ok lang ba mag open acct.(bank book )ang 10k….and ok lang ba na checkfrom the Deped pang open ko….
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.
Good morning ma’am tanong lang… pwdi ba mag apply ang mga CAA for saving account?.. CAA .. CAFGU ACTIVE AUXILLIARY … ang allowance nila per month is P 2,790.00 pesos.. pwedi oh ba?
I have already account in PNB i would like to know my statement of accounts.
Hi Evascorpion44,
You can get it at the bank or through online banking if you have.
Ask lang po student palang po ako school id lang po ang meron ako pano po yun need ng dalawa?
Hi,
As per BSP, only one ID is needed. Check this post: http://learninterestrates.com/list-of-valid-id-for-opening-a-bank-savings-account-in-the-philippines/
HELLO , I WOULD LIKE TO ASK IF STUDENT DRIVER LICENSE IS VALID SA PAG APPLY NG ACCOUNT SA BPI ? THANKS A LOT.
Hi Janice,
Go here to see if it is included: http://learninterestrates.com/list-of-valid-id-for-opening-a-bank-savings-account-in-the-philippines/
tnong k lng po mgkno po ung byad pg nag open k ng account?
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.
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
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.
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.
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 /
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Hi Kimberly,
You need at least two ID. You cannot open an account if you don’t have.
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 /
hi can i use barangay clearance for added req?
Magkano ang interest rate ng Savings Account sa Allied bank?
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
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.
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.
hi. magkano po ang downpayment for joint account?
tatanggapin ba nila ang school id?
Oo kung currently enrolled ka.
minum of 500 pesos kaya pwede kung 500 higher ang dedeposit muh
Hi Marion, yes you ca deposit that amount.
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..
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
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
Hi Rener,
I think it is still valid since the expiration of your card is until 12/17 based on what you said.
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.
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.
HI,
Pwedeng pwede yan..
HI,
Pwedeng pwede yan..
Hi Clariz,
If same branch of the bank, I think not possible and not practical. If other branch, it is ok.
hi..pano po ba mag open ng ps bank atm tru internet??
Hi, There’s no way to open a PSBank thru Internet, you must go in-person to the bank.
HI po,,,gusto ko pung mag open account sa BDO kaso wala po akung billing statement PANO YON?
Hi Nelvin,
You can use the billing statement of your parents or the apartment you are living right now.
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…
Hi,
Yup pwede yan.
helo po…gusto ko po sana mag-open ng savings account,just wondering kung saang bank yung may initial deposit na P500?
Hi Pochie,
I know BPI is offering an account with P500 initial deposit through their BPI ATM savings account.
good day po..gusto ko po sana mag open ng savings account ..meron lng po aq NBI clearance ..pwede po ba?..thanks po..
Hi there,
Most banks require two valid IDs, maybe you can get another ID like barangay clearance or postal ID.
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
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.
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.
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…
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.
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