Are you looking for information on how to open an RCBC savings or checking account? Rizal Commercial Banking Corporation or RCBC is one of the biggest banks in the Philippines owned by Yuchengco Group of Companies (YGC). Just like BPI and BDO, it offers telephone, mobile and online banking. It is a member of BancNet, a popular bank organization in the Philippines.
When applying for a savings or checking account in RCBC, you need to bring the complete requirements when applying for a new account to avoid any problems and hassles and for faster approval. It is better to apply online banking at the same time when you apply for a new RCBC account. Online banking is a good feature offered by most of the banks since it will give you access to your account anytime, anywhere as long as there is an internet connection.
How to Open a New RCBC Savings Account
When opening a savings or checking account in RCBC, you need to keep in mind the following procedures. Below is the normal steps when applying for a new savings account at RCBC.
1. Select first which RCBC branch will you going to open an account. Choose a branch that will be convenient and easy for you to go. This step is important because whenever you need to go your bank, it will be easier for you to visit if it is near your residence or place of work.
2. Always bring a ball pen when opening a bank account since you need to fill-up application forms. Sometimes, there’s no ball pen available in the bank or there’s a ball pen but there’s no ink coming out of it. It is better to be ready than sorry.
3. Bring the complete requirements when opening RCBC bank account. The following are the normal requirements when opening a new bank account at RCBC.
- Two (2) 1×1 ID picture
- Two (2) Valid photo-bearing IDs and photocopies(can be SSS ID, GSIS ID, PRC ID, Passport, Driver’s License, Postal ID or other ID issued by government)
If you are foreign nationals wanting to open a new RCBC account, you need to bring your passport and Alien Registration card for faster approval.
- Billing statements and 2 photocopies (these can be Meralco bill, Water utility bill, phone bill, cellphone bill or credit card bill or any bill statement with your name or your parents and address)
- Money for initial deposit - It is advisable to have an initial deposit equal to maintaining balance to avoid fees later. The following tables outline initial deposit, maintaining balance and interest rate for RCBC bank account.
Types of RCBC Savings Account
Below you can see the types of RCBC savings account that you can open. You can also see what is the initial deposit, maintaining balance, balance to earn interest and the interest rate that you can get from each type of account.
Regular Savings Account
| Passbook | Passbook – SWAT* | MyRCBC Access Card | ATM–SWAT | |
| Initial Deposit | 10,000 | 25,000 | 3,000 | 25,000 |
| Maintaining Balance | 10,000 | 25,000 | 3,000 | 25,000 |
| Balance to Earn Interest | 10,000 | 25,000 | 10,000 | 25,000 |
| Interest Rate | 0.5% | 0.5% | 0.5% | 0.5% |
Dragon Savings Account
| Passbook | Passbook – SWAT* | MyRCBC Access Card | ATM–SWAT | |
| Initial Deposit | 25,000 | 50,000 | 25,000 | 25,000 |
| Maintaining Balance | 25,000 | 50,000 | 25,000 | 25,000 |
| Balance to Earn Interest | 25,000 | 50,000 | 25,000 | 25,000 |
| Interest Rate | ||||
| 25K to < 100 K | 1.00% | 1.00% | 1.00% | 1.00% |
| 100 K to < 500 K | 2.00% | 2.00% | 2.00% | 2.00% |
| 500 K to < 1.0 M | 2.50% | 2.50% | 2.50% | 2.50% |
| 1.0 M to < 5.0 M | 2.75% | 2.75% | 2.75% | 2.75% |
| 5.0 M to < 10.0 M | 3.00% | 3.00% | 3.00% | 3.00% |
| 10.0 M and above | 3.50% | 3.50% | 3.50% | 3.50% |
Super Earner
| Passbook | ATM | |
| Initial Deposit | 25,000 | 25,000 |
| Maintaining Balance | 25,000 | 25,000 |
| Balance to Earn Interest | 25,000 | 25,000 |
| Interest Rate | ||
| 25K to < 100 K | 1.00% | 1.00% |
| 100 K to < 250 K | 1.25% | 1.25% |
| 250 K to < 500 K | 1.50% | 1.50% |
| 500 K to < 1.0 M | 1.75% | 1.75% |
| 1.0 M to < 5.0 M | 2.00% | 2.00% |
| 5.0 M and above | 2.50% | 2.50% |
eWoman Savings Account
| Passbook | ATM | |
| Initial Deposit | 15,000 | 15,000 |
| Maintaining Balance | 15,000 | 15,000 |
| Balance to Earn Interest | 15,000 | 15,000 |
| Interest Rate |
SSS Pensioner
| Passbook | ATM | |
| Initial Deposit | — | — |
| Maintaining Balance | 100 | 100 |
| Balance to Earn Interest | 10,000 | 10,000 |
| Interest Rate | 0.5% | 0.5% |
Payroll Savings Account
| ATM | |
| Initial Deposit | 100 |
| Maintaining Balance | — |
| Balance to Earn Interest | 10,000 |
| Interest Rate | 0.5% |
Types of RCBC Checking Account
A checking account is a type of bank account which you can use as a payment tool when paying bills or amortizations. It is different from a savings account but also earns interest and should have a maintaining balance.
You can see below the types of RCBC checking account and the details of initial deposit, maintaining balance, balance to earn interest and the interest rate you can get.
Regular Checking Account
| w/ ATM | w/o ATM | C/A SWAT | C/A ATM–SWAT * | |
| Initial Deposit | 5,000 | 10,000 | — | — |
| Maintaining Balance | 5,000 | 10,000 | — | — |
| Balance to Earn Interest | n/a | n/a | n/a | n/a |
| Interest Rate | n/a | n/a | n/a | n/a |
Super Value Checking Account
| w/ ATM | w/o ATM | |
| Initial Deposit | 15,000 | 15,000 |
| Maintaining Balance | 15,000 | 15,000 |
| Balance to Earn Interest | 0.5% | 0.5% |
| Interest Rate | 0.5% | 0.5 |
eWoman Checking Account
| Initial Deposit | 35,000 |
| Maintaining Balance | 35,000 |
| Balance to Earn Interest | n/a |
| Interest Rate | n/a |
4. Go to new account desk upon arriving in the bank. Bank officer will give you application forms; fill it up with the required data neatly and completely. Ask the bank officer when you have questions or in doubt.
5. Give your initial deposit along with the application forms and requirements to the bank officer. You won’t be able to open an account if you cannot deposit the required amount of money when opening a new RCBC account.
6. Wait for 3-5 banking days before getting your passbook or ATM card. Ask the bank officer when you can get it to be sure. Normally, ATM or passbook will be available for pick-up after 5 banking days had passed.
Final Advice
Opening a new bank account at RCBC is not really hard once you have all the requirements ready. Make sure to open an account at the branch nearest your residence or the place where you work. Before going to the branch of your choice, decide first what type of savings or checking account you would want to open. The list of types are mentioned in this post so you can compare which one will be suitable to your needs.
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Comments on this entry are closed.
meron po ba itong RCBC isave ngayon.?
You should apply a separate RCBC i save account to save money from your payroll account.
Hi ask ko lang po f pwd mg open ng account instead na cash ung initial deposit is check xa?
Vivina,
I’m not sure about this, I think they want cash.
Hi Dexter, doing it 30k a year will have more potential to earn big since it is inevsted earlier, but then again, it will have higher risk. With 2,500 a month, you are spreading the risk. Basic rule of thumb in investing, the higher the risk, the higher the returns.
It is called cost averaging, but if you have the money I would suggest invest it now or it may go somewhere else.
hi ask q lng po if san pwede mag check ng balance sa atm q na rcbc. .dito sa internet?sang site aq pupunta?thankz
Cris, you need to enroll first your savings account in RCBC internet banking before you could check your balance via the internet.
How much it will charge me if I withdraw below my minimum maintaining balance. i have an e.woman savings account. thanks
Hi
I just want to inquire if my rcbc mywallet card is considered as bank account. When i tried to withdraw money from my paypal, it asked me the bank code and my bank account number. Can I use the rcbc bank code and my account in my wallet card to do the transaction in paypal?
thank you
Is it possible for someone who is abroad to open an account in RCBC- Philippines? Does RCBC has an online banking similar to BPI direct
Hi Sheryl,
RCBC has online banking but I checked their website, there’s no way to apply for a savings account online.
ano po yung Dragon Saving Account at ang My RCBB access card
pwd ba rcbc pang international? i mean kung may mag deposit sayo nasa america?
Hi, yes you can use RCBC for remittance purposes.
i need help.i lost my Passbook at almost 2yrs ng d na-huloggan ang account ko sa PNB manila branch.
hi gud afternoon, may payroll account po ako since 2009 kaya lang poh hindi na nahulogan since 2010 to present…ask lng poh f close na po yung account ko gusto ko po sana gmitin yun for personal savings….pwede pa po yun..
thank you poh, Im hoping for reply..
Hi Carfelove,
If your account has no balance since 2009, I think it is closed now. Just open a new savings account.
Hi Jhune, where are you coming from? The best way for an ofw to apply for a muatul fund account is thru your spouse or relatives. Unfortunately, with Sun Life Prosperity funds (muatul funds), one must be in the Philippines at the time of signing.
Panu pu malalaman kung valid pa yung rcbc atm ko? gusto ku pu sanang maghulog ng pera sa dti kung atm kaso almost 8months kuang hindi nahuhulugan,panu ku po kaya malalaman kung pwwedi pa atm ko?
pumunta po kayo sa branches rcbc na malapit sa inyo
bakit po kaya ganun? ndi q po mai-enroll account q s rcbc??
how much po kung mag-oopen ng new account??yung pinaka mababang po.
Hi Ms. Gil, interesado po ako sa mutual fund… pero, gusto ko sana magpatulong sau kasi parang madami kana po alam tungkol don. at wala din po ako kilala na broker. iniisip ko po kung sa stock exchange or mutual fund ako mas kikita. pwede mo po ako email [email protected]… salamat po.
Hi Kristine,
Kelangan pag aralan mo muna kung alin ang mas bagay sa ‘yo.
Ang mutual fund ay merong mas mababang opening deposit kaysa sa stocks account.
Para sa beginner, it is better to invest in MF than stocks. I recommend you to invest in BPI MF or FAMI.
How much to open a new account as a student!! at RCBC
bank
Hi Edwin,
You can open an account as low as P3,000.
Hi, would like to know how to close an ATM savings account with RCBC. If I withdraw all my money will it close the account? I’ve already contacted RCBC through email and the response I got was that they could not really tell me without further information from me. They asked me to provide my account number and other details and that they will forward it to my local branch. I didn’t reply because I’m wary of emails asking me to give my account details. Please help! Thanks..
Hi Gail,
The best action is to withdraw all of your money and forget your account.
It will automatically close.
hi…salam
l just want to ask if how could i iquir may ATM card in internet?i am here in abroad i want to check if my money is already in my account.
Hi,
One way to check is through online banking if you have or ask your relatives to inquire for the account balance.
im ofw here in the uae, can i invest in mutual funds in the philippines even though im still here abroad, if i can, HOW TO DO IT?
Hi Norman,
Yuo it is possible. I have FAMI mutual funds. You can check this out if you are interested: http://fami.com.ph/?page_id=308
Just send me an email if you still have questions.
Hi gil, well i was wondering. whats the difference between savings account. i really dont have any idea about accounts.
i was looking for a saving account that have the smallest opening fee or something..
Hi Efren,
A savings account is a typical bank product where you can put money as a saving. It will earn an interest normally less than 1% per year.
BPI and BDO has low initial deposit and maintaining balance for savings account.
can i open an atm account in which i can receive money from abroad without any mentaining balance? thank you
Hi Ethel,
I know BDO Kabayan savings account has no maintaining balance and you can receive remittance from it.
how much will be the interest monthly, if the amount to be deposited is 300thou?pls reply
Hi djoanne,
Normally, savings account pays 1-2% interest per year. So if you want monthly interest, just divide by 12 the 1-2% which is 0.08-0.17% per month. 300,000×0.0017=510.
Your money can earn more by investing in mutual fund: http://learnfinancialeducation.com/category/mutual-funds/
Hi. Question, which is better in miakng additional investment in Sun Life Mutual fund,should we add monthly,quarterly or annually? I mean is it better to add example 2500 pesos every month or 30000 pesos in a year? Actually its the same amount of money but just to be sure it will also be the same benefits. Thanks
I would suggest invest regularly. If you have the 30,000 pesos, invest it now.
Good day!
My current ATM savings in RCBC is 10,000+ pesos. How it will earn interest? Is there any maintaining balance to reach? As I have checked my ATM savings account, it’s still fix amount. Pls advise.
Thanks,
Verick De los Reyes
RCBC ATM savings account will earn interest of 0.5% per year if it has P10,000 balance.
So it will only earn P50 per year, that’s very small. If you want to earn higher, you can visit this: http://learnfinancialeducation.com/6-primary-reasons-to-invest-in-mutual-funds/
can I use NSO birth certificate as requirement in opening RCBC bank account? coz i only have 1 valid ID…
Yes, you can use it. I know most bank accept it as a requirement.
Thanks for the visit.
Hi Gil,
I am planning to apply for a checking account can you recommend me a bank that has a low initial deposit like 5k or below
thanks zaldy
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