Having a bank account nowadays has been a necessity in itself.
Banks offer so much services now apart from savings and investments, providing loans, and a whole lot more – you name it! For me, I use it for several reasons: one is to keep my money safe – I feel more secured just bringing enough cash whenever I go out; two is for me to gain easy access to money – it’s just a swipe away from an ATM; and lastly as a payment method for all your online transactions, specially during traveling. If you are also travelling abroad, there are also times where it is cheaper to withdraw and exchange your money directly thru an ATM compared to doing it over the counter of money exchange stalls.
You may open an ATM-only account (opening is Php500.00 and maintaining balance is Php3,000.00) or an ATM with Passbook account (maintaining balance is Php10,000.00) with BPI.
Here are the requirements and a step-by-step process in applying for a BPI Savings Account (same for both ATM-only or with Passbook Accounts):
- Make personal appearance to the bank and bring the following requirements.
Two (2) Valid IDs and photocopy of them:
Sidenote: If you could provide more than two IDs, the better.
Professional Regulations Commission (PRC) ID
National Bureau of Investigation (NBI) clearance
Government Service and Insurance System (GSIS) e-Card
Social Security System (SSS) Card
Senior Citizen Card
Overseas Workers Welfare
Administration (OWWA) ID
Overseas Filipino Worker ID
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 and its instrumentalities
Sidenote: This is just to verify your billing address. You may use billing statements even if it’s not under your name as long as it’s from your family members.
Credit Card Bill, etc.
Two (2) copies of 1×1 latest photo
- Fill out the application form they will provide by supplying the required information. You are required to provide three (3) identical signature specimens.
- At least Php500.00 initial or opening balance. Please take note that your account will only be allowed one month before the rule on “maintaining balance” will be applied.
- Allow a day to have your account activated. Some say, you need two (2) to three (3) days before you could claim your ATM Kit but in my case, I received the ATM kit right-away.
I got the blue one. But I think it comes in two (2) other colors: gold and red.
5. They will ask you if you want to enroll it to their online and phone banking which I did. I’ll post another entry on how it went later.
Actually, I’m really impressed with how the whole process went. It just took me approximately twenty (20) minutes to have my application processed and approved – well, add another fifteen (15) minutes when I fall in line and waited for my turn. The one who assisted me was very approachable and accommodating. I asked a lot of questions, I thought that she would be irritated but she explained it to me in detail and in a very customer-friendly way – 5-stars for her!🙂
And that’s it! I’m now a BPI Cardholder! I’m now excited to enjoy their products and services! Let the “payments” come!😀
For more information on their rates and requirements, I highly encourage you to visit their website at www.bpiexpressonline.com.