Base on my personal experience Opening a BDO Savings Account is no sweat. It’s Easy and Done as long as you have what they need.
First, I asked the guard were the information section. Then, go to information section. Second, The BDO staff will ask, “what I can do for you sir/ma’am?” Third, I said, “ I will open new BDO Saving Account”. Fourth, the staff gave me stab listed with requirements. Since I have all the requirements. She gave FORM to be filled-up. Fifth, she asked me a couple of personal question based on the form. Lastly, She take picture of me and gave payment’s and done.
All I have to do is to wait 7 working days to get my account.
In this article, you will learn how to open a BDO Savings Account in the Philippines STEP-BY-STEP. Before you personally go to any BDO office, you need to prepare the account opening requirements.
BDO Savings Account Requirements
1. Valid IDs.
You have to prepare 2 recognised valid IDs as one of your application requirements. If you’re not aware what to bring, here’s a series of typical valid IDs you can use: Police Clearance, Passport, Barangay Clearance, Voter’s ID, NBI Clearance, Senior Citizen Card, PRC, Postal ID, Philhealth, Driver’s License, and etc.
For your IDs to be accepted they need to be:
• The original copy
• It should be unexpired
• Photo-bearing (should be clear)
• Issued by an Official Authority
2. Utility Bill.
This is for verification of your billing address. If the receipt is not under your name, you still can use it. Just as long as you are living on the same address, it will be accepted.
Common utility bills you can bring: Electricity Bill, Internet Bill, Water Bill, Credit Card bills, and etc.
3. Copies of 2×2 Latest Photo.
You may also want to bring 1×1 version of your photo just in case.
4. Initial deposit amount.
To open your account, you need to deposit a certain amount of money for it to be activated. There are different required initial deposit amount. Be sure to bring exact amount or bigger amount if possible before going in to the DBO Bank office.
Step-by-Step Procedure in Opening a BDO Savings Account
1. You need to personally go to the nearest BDO branch in your place and bring the requirements with you. Usually, people go to SM Mall branches for transactions. So better prepare something you can do to kill boredom. You might want to install games on your phone or download something you can read while waiting for your turn.
If there’s a BDO branch near you, you might want to consider that
2. Ask the teller to give you the application form for opening a savings account. Fill out all the blanks spaces that are necessary to be filled out. Double check or even triple checks everything before passing it on to the bank teller.
3. Provide the required initial deposit:
• P2,000 (BDO ATM Savings Account)
• P5,000 (BDO Passbook Savings Account)
4. Claiming your ATM or Passbook will take around a week before you can get it. Usually, you can claim it after 5-7 banking days. You can always ask the bank teller if you got inquiries.
5. Right after applying for your savings account and get activated, enroll your account to online and phone banking feature. This is just optional but with the trend today, online transactions are very much common. Enabling your card with mobile and online banking features is becoming a primary thing.
BDO Savings Account Products
1. Peso Passbook Savings Account (with or without ATM)
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P5000
• Required maintaining balance: P10,000/month
• Required daily balance to earn interest: P10,000
• Interest rate per annum: 0.25%
2. Peso ATM (without passbook)
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P2000
• Required maintaining balance: P2,000/month
• Required daily balance to earn interest: P5,000
• Interest rate per annum: 0.25%
3. Optimum Peso Savings Account (Personal)
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P30,000
• Required maintaining balance: P30,000/month
• Required daily balance to earn interest: P30,000
4. Optimum Peso Savings Account (Corporate)
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P50,000
• Required maintaining balance: P50,000/month
• Required daily balance to earn interest: P50,000
5. Junior Savers
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P100
• Required maintaining balance: P100/month
• Required daily balance to earn interest: P2,000
• Interest rate per annum: 0.25%
6.Prime Savers
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P2,000
• Required maintaining balance: P2,000/month
• Required daily balance to earn interest: P5,000
• Interest rate per annum: 0.25%
7. Direct Deposit Peso Savings Account
Deposit Balance Requirements and Rates:
• Minimum initial deposit: P0.00
• Required maintaining balance: P0.00/month
• Required daily balance to earn interest: P5,000
• Interest rate per annum: 0.25%
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