To give you more choices of banks where you want to open an account, we provided a list of banks and their initial deposits (for Peso and Dollar Savings/ATM accounts).
For Peso Savings/ATM Accounts
- https://www.affordablecebu.com/
| Name of Bank | Initial Deposit (range, in Philippine Pesos) |
| LandBank | Php 500 - Php 10,000 ($ 11.24 - $ 224.72) |
| Development Banks of the Philippines (DBP) | Php 1,000 ($ 22.47) |
| China Bank | Php 1,000 ($ 22.47) |
| Banco de Oro (BDO) | Php 2,000 - Php 5,000 ($ 44.94 - $ 112.36) |
| Metrobank | Php 2,000 - Php 10,000 ($ 44.94 - $ 224.72) |
| Rizal Commercial Banking Corporation (RCBC) | Php 3,000 - Php 10,000 ($ 67.42 - $ 224.72) |
| Philippine National Bank (PNB) | Php 3,000 - Php 10,000 ($ 67.42 - $ 224.72) |
| Bank of the Philippine Islands (BPI) | Php 3,000 - Php 10,000 ($ 67.42 - $ 224.72) |
| Unionbank | Php 25,000 ($ 561.80) |
Take note: There other types of accounts of the listed banks above which offers lower initial deposit. These initial deposits are subject to change by each banks. The listed initial deposits above are applicable only for peso savings accounts. Dollar accounts have higher initial deposit than peso savings account.
For Dollar Savings/ATM Accounts
| Name of Bank | Initial Deposit (range, in US Dollar currency) |
| Development Banks of the Philippines (DBP) | $ 100 |
| LandBank | $ 200 |
| Banco de Oro (BDO) | $ 200 |
| China Bank | $ 500 |
| Metrobank | $ 500 |
| Rizal Commercial Banking Corporation (RCBC) | $ 500 |
| Philippine National Bank (PNB) | $ 500 |
| Bank of the Philippine Islands (BPI) | $ 500 |
Do you find it cheaper to open a bank account in the Philippines compared to opening a bank account outside the Philippines?