So finally, I had my own savings account at Bank of the Philippine Islands (BPI). It’s very easy and I’m sure all of you can have too, just by following some steps I did (note that this is my personal experience when I applied at the bank).
I applied at BPI ABS-CBN branch. I was informed by the teller that the branch in ABS-CBN will be a regular branch once renovated. Currently, the bank has three (3) tellers and when it is renovated, they will add two (2) tellers more.
Ms. Trisha, the teller, gave me an option as to what kind of individual account I’m supposed to apply when opening a new account:
1) Express Teller Savings Account: Initial deposit of P500; No withdrawal fee at any BPI ATMs, Maintaining balance of P3,000 with interest (Note that completing the maintaining balance of P3,000 can be done within a month)
2) Easy Saver Savings Account: P200 initial deposit; P50 Express Teller Card fee; P5 per withdrawal at the ATM (If withdrawn in other ATMs, there’s a different fee); No maintaining balance
When I visited the branch, I have with me the requirements for faster transactions. Below are the requirements.
NEW ACCOUNT REQUIREMENTS:
– Original & photocopy of two (2) valid I.D’s (unexpired)
PRC Licensed ID
– ID picture 1×1 or 2×2 (1 piece)
– Contact Number
– TIN number
By the way, they gave me this piece of paper when I am inquiring of opening an account to them (left photo).
Once you have completed to fill-out the form (can only be fill-out within the branch), and submitted the following requirements needed, it is now ok for processing. I can now get my ATM card with my name on it the next day. The initial minimum deposit is P500 and can also be paid when claiming the card.
Reading some blog posts, some suggest that claiming of ATM card or passbook is after 3-5 banking days by visiting the branch to where you applied. In my case, it took me just a day (or rather 24 hours) and then my ATM is ready for claiming. I think it’s still on a case-to-case basis.
And here it is!
I know when you apply for new account via online, it will take two weeks as based on my friend’s experience. The process was, when applied via online, you need to wait for an e-mail confirmation and will reply to them within 10 days. If not replied within the given allowance, meaning, you are not going to push through with the account’s opening.
After you replied to the e-mail, you will wait again for their response as to when your ATM card is ready for pick-up on the branch you have nominated. Once ready, you will need to bring the requirements: (1) present valid I.D’s; (2) accomplish the account opening documents and finally (3) claim your ATM card.
Once you get the ATM card, you are force to change your security PIN within a given time. It can be done through the use of BPI machine which is used for cash deposits, withdrawals and more.
IMPORTANT REMINDER: Your card will be deactivated if you do not change your temporary PIN within 2 banking days from date of receipt. Visit any branch to have your card reactivated. Full ATM services are available 1 banking day after you have successfully changed your PIN.
Same case as mine. I applied Thursday and by Friday (just a day), I got the ATM card. The thing is, it will be activated from 8 PM that day. In order for me to change my security PIN, I have two (2) banking days to process it. But I got the card Friday and there’s weekend so I might just change it by Monday until afternoon which I did. But apparently, my ATM card just deactivated. Good thing, there’s a nearest BPI branch. After they have reactivated it, I now changed my temporary PIN they have provided.
Once you got the card, you can now enroll it online at BPI website. You can also enroll it at the branch to where you applied.
But I have to commend Ms. Trisha for being accomodating. She is also good in dealing with customers’ needs and she always wear a smile while entertaining some clients. Good job, Ms. Trisha of BPI ABS-CBN Branch!