Having a summer job, managing your own online shop and of course spending the money that you make, it’s pretty hard to keep track of all the purchases that you make and soon enough, you’ll be left with nothing.
That is what I though of when I first thought about opening a bank account. So, recently I opened a Savings Account through Banco de Oro (BDO). BDO is a good choice when opening a bank account, they have pretty much an ATM outlet everywhere and what’s more they’re usually open from Mondays through Fridays, (also Saturdays, particularly in Malls and their main branch). BDO also supports online banking! Isn’t that neat?
Interested in opening a Savings Account? Here is a detailed step by step procedure on how.
- Choose which account you want to open. BDO has a wide range of Peso Savings Accounts to suit your needs.
- Two (2) valid IDs. If you’re under 19 you also have to present your NSO Birth Certificate and a photocopy of it. Click this link for a list of valid IDs in the Philippines.
- Also present billing statements, (this is to verify your address) eg. Electric Bill, Telephone or Mobile Phone Bill, Water Bill, Credit Card Bill, etc.
3. Fill up the application forms that they will provide. Make sure that what you write is precise and correct. You will be required to present about 10 samples of your signature, this is why you have to make a personal appearance at the branch.
4. Provide the opening and maintaining balance. (Please refer to the image above.) Keep in mind, that once your account balance is below the minimum balance requirement, Php 300 will be deducted from your account every month.
5. And you’re done! Allow 1 up to 2 days for your account to be activated. Your ATM card will be available after 5 to 7 days. I claimed mine on day 4, all you have to do is present your Passbook (if account has one) and the receipt that you will receive once you open your BDO account.
And that’s it! For more information, check out this Online Brochure or proceed to a BDO branch near you.