How can a Student Open a Bank Account in the Philippines?
If you're a student studying here in the Philippines, a bank account (such as ATM or Passbook account) is a convenient and free medium of receiving your allowances (money) from your parents/guardian who live far from you. Like when I was still a student studying
in Quezon City, Metro Manila, I used an ATM card to receive my weekly
allowance from my parents who are in Mindanao. Before going to the bank, it's better to prepare the needed requirements in order to save time and money.
One (1) valid id which bears no photo. Examples are:
NSO Birth Certificate
2 pcs. 1x1 or 2x2 pictures
Initial deposit (ranges from P500 to P10,000 depending on the bank and the type of account). The initial deposit of some of the popular Philippine banks are:
BDO = P2,000 is the initial deposit for opening an ATM card/account
Metrobank = P2,000 is the initial deposit for opening an ATM card/account
BPI = P3,000 is the initial deposit for opening an ATM card
After securing the needed requirements, you can go to your preferred bank where you want to apply a bank account. Inside the bank, go to the New Accounts section. If you don't know that section, just tell any bank officer that you want to open a new account and they will be happy to assist you. Don't forget to wear your smile.
Take note: Regarding the valid id's, you can also bring both two (2) photo-bearing id's. It's also recommended to bring 1 photo-bearing id and 1 non photo-bearing id. But if you bring 2 non photo-bearing id's, there's a big possibility that you're application will not be accepted.
Some foreign students or students with dual citizenships (e.g. Filipino-American, Filipino-Chinese, Filipino-Japanese, Filipino-Italian, Filipino-German, Filipino-Mexican, etc.) can open a bank account here in the Philippines by bringing their Alien Certificate of Registration (ACR I-Card).
Are you having a problem in opening a bank account in the Philippines? Let us know in the comment below.
"How can a Student Open a Bank Account in the Philippines?" was written by admin under the Banking category. It has been read times and generated 10 comments. The article was created on .
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hello,hello management,I want my son and daughter have their own bank account,but they are 16 and 12 years old only.they thus eligible to apply for and to have a personal account ?and what requirements they need to ?