I Finally Opened a BDO Savings Account
Hello my dear readers, let’s go back to the normal
programming of this blog which is about my financial independence. I wanted to
share with you guys, my experience of opening a savings account from BDO.
I have two reasons why I chose to have an account with them: First, their SM Bicutan and Makati branch is near from where I live and work so it’s easier for me to deposit cash, second, it’s easy for me to withdraw money from them in case of emergency which is of course I don’t want happen but it’s still better to be prepared for those unfortunate events.
I have two reasons why I chose to have an account with them: First, their SM Bicutan and Makati branch is near from where I live and work so it’s easier for me to deposit cash, second, it’s easy for me to withdraw money from them in case of emergency which is of course I don’t want happen but it’s still better to be prepared for those unfortunate events.
I have my own payroll account on BPI but I notice that if I
put my savings there I tend to spend the money and lose track of how much I
save for a particular month and I also became lazy saving 20% of my salary
that’s why I come up with the decision to open another savings account. FYI, I
open my savings account at their SM Bicutan branch. Below are the requirements that
I brought:
1. 2 government
ID’s. I use my SSS national ID and Philhealth ID
2. 1 Company ID
3. 1 Utility Bill.
I showed to them our electricity bill from Meralco and they photocopied it
4. Initial Cash
Deposit. You have two options for the savings account: 2,000php cash deposit is
for ATM card account only while 10,000 cash deposit is for ATM card with
passbook. I have 5,000php with me that day so I chose the first option.
I was given three forms that I needed to fill-out. The bank
teller who assisted me is very friendly and she answers all my inquiries. She also
informed me that I am not allowed to deposit a check on my savings account
which is totally fine with me since I can use my BPI account for those kinds of
transactions.
The good thing of opening an account with BDO is that I
don’t need to give them a 1x1 or 2x2 photo of mine which are required to other
banks. They just took a picture of me and it’s done! I was advice to wait for 5
days before I claimed my ATM card. After I got my card, the first thing that I did
is to register my debit card on their online banking so that I can monitor how
much money I saved. Here's the link of their online website click here.
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| Here's picture of the savings account BDO ATM card looks like. |
The only drawbacks that I experience banking with BDO is
when I created an account online, the amount of money has not been reflected on
real time basis on my first registration. I freaked out and went to the nearest
ATM to check if my money is there.
I also find the One-Timed Password (OTP) a hassle every time I logged-in on my account which I understand it is for my own account security but I don’t get the point of it.
I also find the One-Timed Password (OTP) a hassle every time I logged-in on my account which I understand it is for my own account security but I don’t get the point of it.
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It just eats time on the part of the end user to stay longer on their platform. Unlike in BPI, all transactions there are recorded real time and they don’t require OTP.
Anyhow overall, I will still recommend BDO because you can
open a savings account with them for only 2,000php cash deposits. The said
amount is also their maintaining balance to keep on your account active. Amazing, isn’t it?!
Update: I encash my money on BDO and open another account on BPI. I opened BPI Maxisavers. The downside of withdrawing my money from other BDO branch is that I need to pay them 100 pesos for the bank fees which is kind of sucks because that amount is not that small. So yeah, If ever your withdrawing cash let's say 50,000 pesos above do it in your BDO branch where you open your account.
Update: I encash my money on BDO and open another account on BPI. I opened BPI Maxisavers. The downside of withdrawing my money from other BDO branch is that I need to pay them 100 pesos for the bank fees which is kind of sucks because that amount is not that small. So yeah, If ever your withdrawing cash let's say 50,000 pesos above do it in your BDO branch where you open your account.
How about you? Where did you put your savings? Is it in the
bank or do you own a piggy bank? Share your comment below.
Are you going to open a BDO Nomura account as well? Yan yung bago nilang service eh. It works like COL Financial. :)
ReplyDeleteNow ko pa lang narinig yan. Siguro in the near future baka mag-open din ako nyan. Hehe. Right now mas priority ko ang mag-ipon ng emergency funds kasi nagamit ko lahat nung sa akin last year nung nagpapaayos ako ng bahay namin.
DeleteMeron po akong ganian
ReplyDeletePero galing sa work ko
Then i resign kasi nagkasakit ako.
Nasakin yung atm di naman nila kinuha
Pwede ba ko mag savings sa atm na yun???
Hi Jenifer, yup pwede mo yun gamitin as a savings account if active pa yung bank account mo na yun. You can ask bank teller about it. :)
Deleteif 2k lng ang money ko when im going to open a bank account, then after a month nka save nako ng 10k or more is there a possible to issue a passbook for me?
ReplyDeletethanks, please enlighten,
Areli
Hi Areli, ang alam ko kasi na kapag gusto mo ng passbok e dapat kung ano yung maintaining balance e dapat ayun yung cash na meron ka kung magbubukas ka ng account sa mga bangko. Tingin-tingin ka po sa other bank baka may mga lowest maintaining balance na available. Good luck!
DeleteHelo po ano Mga requiredmens na kailangan po pa aply ka ng ATM saving bank card po
ReplyDeleteAnu po ba ang requirements to get an international debit card? ?
ReplyDeleteHello, kindly DM bdo on FB and Twitter for the requirements. Hindi ko rin kasi alam yan. Anyhow, thanks sa pagvisit sa blog ko.
Deletepwede ko ba mag withdraw if 2thou na lang savings ko? in case of needed but not to close my account.
ReplyDeleteHi Apolonia, pagkakaintindi ko kasi need talaga ng 2k maintaning balance for savings account para active. Kung iwiwithdraw mo yun may tendency na magclose nga yung acct. mo. I think pwede mo nman ipaactivate yun once magsave ka ulit. Hope nasagot ko ang tanong mo. Thanks pala sa pagvisit sa blog ko.
DeleteHi i try to wdrw my atm cash card pero ang lumalabas ay invalid transaction ..ano po kya pwde gwin
ReplyDeletenabago nyo na po ba yung pin code nyo sa atm cash card? Kung hindi pa po baka yun ang dahilan kaya di kayo makawithdraw.
DeleteMeron po aq bdo debit card san makikita ang account number hindi kasi nsabi ng teller at nabgy skn wl nksaad s papel n bigay, tnx
ReplyDeleteYou can go to the bank and ask them about your acct # sa bdo. Ako kasi nung kinuha ko yung atm ko sa bdo nagtanong na ako about sa acct. number ko kaya naisave ko sya. Hehe. Good luck!
DeleteHow about if your bdo atm card holding is an company issue and still active po.. Pwede mo ba gamitin yan into savjngs account.?
ReplyDeleteYes po. Automatic na nagiging savings acct yun kapag umalis ka na sa work na pinapasukan mo basta na maintain mo yung amt. balance. As far as I know 5k po ata maintaining balance sa bdo but you better ask any bdo banks kasi very accommodating nman sila.
Delete