In the recent years, there are several commercial banks that were established to cater for the needs of the Filipino clients. Robinsons Savings Bank (RSB) is one of the newest emerging banks in the Philippines. It is a private commercial bank and part of JG Summit Holdings, Inc. Lately, RSB merged with Robinsons Bank Corporation to be able to serve more customers and to make a stronger company.
Just like any other banks in the country, RSB has different products and services targeted to its clients. It offers savings account, checking account. remittance services, loan application, investment funds, credit cards and a lot more.
Features of RSB Savings Account
A customer can apply for a RSB savings account with passbook or ATM that earns a fixed interest of 0.5% per year. The ATM card can also be used as a debit card for paying purchases from department stores, supermarkets and other establishments.
You can also withdraw cash anytime through any Robinsons Bank, BancNet, Megalink or Expressnet ATMs. You may also withdraw from any RB branches nationwide via over-the-counter transactions. A customer is allowed to make an ATM withdrawal a maximum of P50,000 per day and P15,000 per transaction.
Another good feature of RSB savings account is that you can transfer money from your own account to any linked RB account or to any bank accounts of BancNet members.
How to Open a Savings Account
Before you go to the bank for account application, you should know several information about opening a bank account. For example, the initial deposit and maintaining balance for RSB savings account is P2,000 for ATM accounts and P5,000 for passbook account.
For both ATM and passbook accounts, the average daily balance should be P10,000 to earn interest which is 0.5% per year. Interest payment will be added to your account balance each month with 20% withholding tax.
For individual account, the requirements are Robinsons Bank account opening form, two sets of signature cards, two valid Ids of the applicant, one photo and a proof of billing. You can also visit this link to know the complete list of bank requirements in the Philippines.
In addition, if you are opening an account for sole proprietorship, the requirements will be Robinsons Bank account opening form, two sets of signature cards, DTI certificate of registration, business permit, 2 valid Ids of the applicant, one photo and a proof of billing.
After completing the forms, you can submit it to the bank employee in charge of processing new account application.
Robinsons Bank Corporation is a new commercial bank that is growing and expanding. It has various services and products catered for the needs of its clients. Applying for a savings account in them will be smooth and simple once you prepared all the documents necessary for application.