1. Click here to know about Terms and Conditions Governing Deposit Accounts. In adherence to the requirements of the Anti Money Laundering Council, BDO reserves the right to require the submission of additional document/s it may deem necessary.
2. For concerns, please visit any BDO branch nearest you, or contact us thru our 24x7 hotline (+632) 8631-8000 or email us via callcenter@bdo.com.ph. BDO Unibank is regulated by the Bangko Sentral ng Pilipinas with contact number (02) 8708-7087 and with email address consumeraffairs@bsp.gov.ph, and webchat at www.bsp.gov.ph. BDO Unibank, Inc.
3. What is a deactivated BDO account? In shorter and simpler terms, a deactivated BDO account is an account that can neither accept any more remittances nor transfer funds and deposits. BDO can choose to deactivate your savings or passbook accounts if you weren’t able to cope with the required minimum amount; or some other reason.

Previously, me and my lovely wife opened a joint savings account in BDO for our emergency fund. We want to have a separate savings account for our emergency fund aside from other savings account we have.

1800-10-631-8000 (PLDT) 1800-3-631-8000 (Digitel) 1800-5-631-8000 (Bayantel) 1800-8-631-8000 (Globelines).

So we went to the nearest BDO branch in our area and advised the teller we’re going to open a joint savings account.

If you’re planning to open a joint savings account in BDO too, this short article might help you.

Joint savings account in BDO requirements

• 2 pcs. of 2×2 latest photo
• valid I.D(original and photocopy)
• proof of billing(should be the same address with any of your valid I.D)
• initial deposit (P2,000) for ATM joint savings account

*New requirement:

• TIN number (in earlier part of 2016, almost all establishments doing financial transactions ask to require TIN numbers from their clients/customers)

Steps in opening joint savings account in BDO

1. Prepare all the requirements and visit the nearest BDO branch in your area.

*Reminder: BDO has a new policy to refer the applicant to the nearest branch in their area based from your valid I.D and proof of billing address.

2. Go to the new account section and advise that you want to open a BDO joint savings account. The teller will check the requirements and will provide the application form for you to fill up.

3. Fill-up and complete the application form. Make sure all information are correct. You will also be asked what type of joint savings account you’re going to open.

Me and my wife chose to open an “OR” BDO joint savings account so we can have both the ATM and we can withdraw anytime(for emergency) without having the consent of each other.

4. Submit the application form. We also advised the teller to have it open or activated for BDO online banking. The teller will provide all the details and will inform you when you can claim the ATM card. In our case, it took 3 business days.

*Tip: We were asked to present a valid I.D that has the same address with our proof of billing. And since we were just “new” in our place, our I.D are in different addresses. We tried to “beg” the teller but unfortunately she didn’t allowed.

Instead, we were advised to get a barangay clearance where we live before they can completely process the application.

So we’re not able to open a joint savings account in BDO that day. We have to acquire barangay clearance first. We went to the barangay hall in our place and requested for a clearance. We paid P50. After a day, we went back to BDO and apply again for joint savings account. Everything was settled.

That’s it! We now have an ATM joint savings account in BDO. Actually, we’ve already completed our emergency fund after almost a year of opening this joint savings account in BDO.

Putting your money in the bank gives you a little interest and small room to grow. If you’re goal is to grow your money over the long term, I suggest you study and learn how to invest.

If you don’t have idea, here is a great article that shares and discusses the fundamentals and basics of investing. It’s called investing 101.

Thanks for dropping by. Cheers!

In building a solid financial foundation, it is important to build from ground up. We start first in protecting ourselves through healthcare and life insurance. We must make sure to eliminate our debt. Then we need to build an emergency fund before investing. In this article I’m going to show you how you can open a BDO savings account for your emergency funds.

In building an emergency fund, the best way to do it is opening a bank savings account. If you noticed, the interest rates of the banks are very minimal. Because the bank knows that anytime you can withdraw your money (as in the case of ATM card and/or checking accounts).

Thus, having a bank account is perfect for building an emergency fund.

Banco de Oro (BDO) is one of the major banks in the Philippines. A pretty stable company and a part of the SM group of companies (Henry Sy’s companies – the richest man in the Philippines).

I personally am a client of BDO and I love their online banking facility especially their funds transfer and bills payment.

Thus opening a bank account in BDO for emergency funds is a perfect choice. Below is the requirements and the step-by-step guide in opening a savings account in BDO.

BDO Savings Account Requirements:

1. Two Valid IDs – Examples: Police Clearance, Passport, Barangay Clearance, Voter’s ID, NBI Clearance, Senior Citizen Card, PRC, Postal ID, Philhealth, Driver’s License, and etc.

2. Proof of Billing – This will be used to verify your address. Examples: Phone bills, electric bill, water bill, credit card bill, etc.

3. Two copies of latest photo – you might want to bring a 1×1 and/or 2×2 photo.

4. Initial deposit requirement – bring cash. Different account types have different initial deposit. Might as well bring a substantial amount of cash.

Steps in opening a BDO savings account:

Step 1: Go to the nearest BDO branch in your area. One great thing with BDO is that, there are tons of branches inside SM malls. Thus, it is one of the most convenient banks to get access to.

Unfortunately, due to convenience, BDO branches inside the malls can be quite crowded.

Bdo Savings Account Opening

Step 2: Go to the new accounts counter (or ask the guard where to open an account) and ask the teller for the application form for opening a savings account.

Fill out application form correctly. Double check all information. Provide the necessary signatures and submit to the bank teller.

Step 3: Provide the initial deposit requirement

For BDO Passbook Savings Account: P5,000
For BDO ATM Savings Account: P2,000

Step 4: Wait for 1 – 2 banking days for your account to be activated. Your ATM card and/or passbook will be made available around 5 – 7 days. Just communicate with your bank teller for inquiries and updates.

Step 5:(optional) Enroll your account to BDO online banking for convenience.

Bdo Savings Account Interest Rate

Other Important Information regarding your BDO savings account:

For ATM accounts:

Bdo Savings Account For Teenager

Minimum monthly Average Daily Balance (ADB) requirement: P2,000
Minimum balance to earn interest: P5,000
Interest rate per year: 0.25%

Service Fees and Charges:

Account Closure within 30 days: P300
Below minimum balance: P300
Withholding tax for interest earned: 20%

For Passbook savings accounts:

Minimum monthly Average Daily Balance (ADB) requirement: P10,000
Minimum balance to earn interest: P10,000
Interest rate per year: 0.25%

Bdo Savings Account Maintaining Balance

Service Fees and Charges:

Bdo Account Opening

Account Closure within 30 days: P300
Below minimum balance: P300
Withholding tax for interest earned: 20%

Other account types can be seen here – source: Official BDO website

That’s it! Start building your emergency funds now by opening your BDO savings account!

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