One of the largest banks in the Philippines, Banco de Oro (BDO) is running a lending business, a business that needs constant flow of money coming in. They're in the banking sector which needs a large amount of money deposited in order to sustain its lending business. This is where the penalty or service charge of falling below the maintaining balance is coming in.
You should regularly monitor your Banco de Oro (BDO) account and make sure you do not fall below its maintaining balance so that you can avoid its penalty or charge. Maintaining balance is computed by monthly average daily balance.
What is the penalty if your BDO account falls below its maintaining balance?
It depends on the type of your account. You should know the type of your account and its required maintaining balance.
Here's a complete list of types of BDO Accounts that has corresponding penalty or service charge if falling below its maintaining balance:
|Type of Account||Minimum Maintaining Balance||Service Charge for Falling Below Maintaining Balance|
|Peso Passbook Savings Account (with or without ATM)||Php 5,000||Php 300|
|Peso ATM (without passbook)||Php 2,000||Php 300|
|Optimum Peso Savings Account - Personal||Php 30,000||Php 300|
|Optimum Peso Savings Account - Corporate||Php 50,000||Php 300|
|Junior Savers Club||Php 100||Php 300|
|Club 60 Peso||Php 5,000||Php 300|
|Direct Deposit Peso Savings Account||Php 0 (no maintaining balance)||none|
|Power Teens Club||Php 2,000||Php 300|
|Peso Checking Account||Php 5,000||Php 300|
|Smart Checking Account - Personal||Php 15,000||Php 300|
|Smart Checking Account - commercial||Php 25,000||Php 300|
|Automatic Transfer Facility - Personal||Php 25,000||Php 300|
|Automatic Transfer Facility - Commercial||Php 50,000||Php 300|
|Dollar Savings Account||USD 200||USD 5|
|Club 60 Dollar||USD 200||USD 5|
|Direct Deposit Dollar Savings Account||USD0.00||none|
|Euro Savings Account||EUR 500||EUR 5|
|Yen Savings Account||JPY 50,000||JPY 500|
|GBP Savings Account||GBP 200||GBP 1|
|Canadian Dollar Savings Account||CAD 1,000||CAD 5|
|Hongkong Dollar Savings Account||HKD 500||HKD 5|
|Australian Dollar Savings Account||AUD 200||AUD 5|
|Singapore Dollar Savings Account||SGD 200||SGD 5|
|Chinese Yuan Savings Account||CNY 2,500||CNY 30|
Did you experience being penalized or charged for falling below maintaining balance in BDO? Tell us in the comment below.