Home » Articles » Banking

Banco De Oro (BDO) Bank Rules and Regulations of their Savings Account

Presented here are the Rules and Regulations of Banco De Oro (BDO) Savings Bank Account as written in their Peso Savings Account Passbook. They are basically important to all BDO account holders as to remind them what RULES AND REGULATIONS to be followed concerning their savings account. Some important questions will be answered such as:
  • Can a person below legal age (18 years old) open a BDO account?
  • What should you do if your Passbook is lost? Are there any hidden fees or charges?
  • Are there any charges when you want to close your BDO account?
  • How could you withdraw your money without you personally going to the bank?
  • What to do if the teller entered an incorrect amount of money you deposit?
  • What will happen to your account if its inactive or dormant for 2 years? Are there any charges?
Answers of these questions will be revealed as you go along reading the whole article. Take note of the underlined statements.
BDO Banco De Oro Passbook
Picture of a Banco de Oro (BDO) Savings Account Passbook 
  1. OPENING A SAVINGS ACCOUNT - Any person seven (7) years of age or more and not suffering from any legal disability other than minority may open a personal savings account in Banco De Oro. A father and/or mother may open a parental savings account for each of their/his/her minor children, and such account remains under the exclusive control of the parent/s until the child/minor reaches legal age, in which case, exclusive control passes to the child, unless it is ordered by the parent/s at the time of account opening that withdrawal can be made by the child/minor also.
Any guardian, trustee or administrator may also open a savings account for each person or estate committed to this care. Accounts opened under more than one name shall be subject to the conditions, together with all modifications thereof, contained in the Terms and Conditions Governing Deposit Accounts signed by the depositor's during account opening.

The initial deposit and the minimum subsequent deposits must be at least in such amount as may be reasonably determined by the Bank. Second endorsed checks are not acceptable as deposits.
  1. DEPOSIT PASSBOOK - Upon opening of a savings account, the Bank will furnish the depositor a deposit passbook in which all deposits and withdrawals made by the depositor will be entered by the Bank. A depositor must, under no circumstances, write anything on the passbook as the Bank will not be responsible for any sum not properly recorded and acknowledged thereon. No entries other than those effected by the Bank itself shall be recorded in the passbook. In the event of any discrepancy between the entries in the passbook and those appearing in the records of the Bank, the latter shall prevail.
No deposit or withdrawal will be permitted by the Bank unless the passbook is presented by the Depositor. The savings passbook should be carefully kept by the depositor. If the passbook is lost, mislaid or stolen, the Bank should be immediately notified by the depositor in writing by executing an Affidavit/Declaration of Loss to be duly notarized and submitted to the Bank. Consequently, the Bank will not be held liable for payments made to any person who shall present such passbook. if no Affidavit/Declaration of Loss was submitted by the depositor prior to the payment.

The savings account may be closed and a new account opened or a replacement passbook may be issued under the old account number at the option of the depositor. In either case, the Bank will enter the balance outstanding to the depositor's credit as shown in the books of the Bank.
  1. DEPOSIT TRANSACTIONS - All deposits must be made by the depositor personally or by his representative by accurately filing out a deposit slip and presenting it, together with the passbook, to the Bank. If the depositor is unable to write for some reason, he must have the form filled-out by any person other than an employee of the Bank. The Bank shall not be liable for losses caused by any and all inaccuracies in filling out the deposit slip. The minimum amount acceptable for subsequent deposit shall be such as may be fixed by the Bank for all savings accounts.
Deposit of checks, drafts, money orders and treasury warrants shall be accepted by the Bank conditionally, i.e., as subject to collection only and shall not be considered as credited to the depositor's account until the proceeds thereof shall have been definitely received by or credited to the Bank. The Bank shall not be responsible for the loss or pilferage thereof in transit. The depositor is not entitled to be credited for or withdraw the amount corresponding the said terms unless cleared funds have been actually received by or credited to the Bank. If the Bank fails to realize the value of the item by reason of the loss or forgery or any other cause of dishonor, the Bank is entitled at any time to charge back the amount credited or demand reimbursement from the depositor of such amount. All endorsements and/or lack of endorsements on the items deposited are guaranteed by the depositor.

The Bank may, at its discretion, refuse to accept deposits or at any time return all or part of a deposit together with the interest due.
  1. WITHDRAWAL TRANSACTIONS - All withdrawals must be made by the depositor personally by properly filing out a withdrawal slip and presenting it together with the passbook to the Bank. Withdrawals by a person other than the depositor himself may be allowed only upon the depositor's written authorization which shall be verified by the Bank.
The depositor will not be permitted to withdraw from his savings account any amount in excess of the balance outstanding to his credit as shown by his passbook. Neither will he be permitted to withdraw a sum smaller than the amount fixed by the Bank except when closing the account. No maximum limit is set on the frequency of withdrawals that can be made from one savings account during the calendar month. However, the depositor may be requested to give at least one (1) day written notice in advance of any withdrawal where the interest of the depositor or the Bank so dictates.
  1. CLOSING OF ACCOUNTS - When a depositor wishes to close his account, he should fill out the ordinary form for a withdrawal which must be made out for the entire amount of the balance outstanding to the depositor's credit as shown in the records of the Bank. The depositor will pay the Bank a service charge in such amount as may be reasonably imposed by the Bank if he closes his account within thirty (30) days from dated of opening. No person other than the depositor will be allowed to close a Savings Account.
The depositor may be notified either personally or by mail of the Bank's intention to close the account, and interest will cease from date of closure of the account.
  1. INTEREST - The account shall earn interest at the prevailing basic rate as prescribed by the Bank from time to time in accordance with existing laws/regulations of the Bangko Sentral ng Pilipinas provided that the minimum average daily cleared balance requirements is met. Interest shall be computed based on month-to-date average daily cleared balance and credited to the account at month end.
  1. CLAIMS AGAINST ERRONEOUS ENTRY - Any claim by a depositor against any erroneous entry in his passbook must be made by him before leaving the Bank or on the occasion when the entry was made. All entries posted in the passbook should be examined by the depositor on the occasion in which they were made and any claim against erroneous entry should be made by the depositor on the same occasion or before leaving the bank premises. Otherwise, the Bank will be relieved of the responsibility in connection therewith.
  1. DORMANT ACCOUNT - A handling fee per month in such amount as may be fixed by the Bank shall be charged for dormant accounts. Accounts are considered dormant if no deposit or withdrawal has been made for the last two (2) years. Any account which has remained dormant for a continuous period of ten (10) years shall be escheated to the Treasurer of the Philippines in accordance with the Unclaimed Balances Law.
  1. Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum amount of Five Hundred Thousand Pesos (P500,000) per depositor.
  2. PDIC shall resume that the name/s appearing on the deposit instrument is/are the actual/beneficial owners of the deposit, except as provided herein.
  3. In case of transfers or break-up of deposits, PDIC shall recognize actual/beneficial ownership of transferees who are qualified relatives of the transferor. Qualified relatives are transferees within the third degree of consanguinity or affinity by the transferor.
  4. In case of (a) deposits in the name of, or transfers or break-up of deposits in favor of, entities, either singly or jointly with individuals, and (b) transfers or break-up of deposits in favor of non-qualified relatives, whenever such transfers/break-up will result in increased deposit insurance coverage. PDIC shall recognize beneficial ownership of the entity or transferee provided that the deposit account records show the following
  1. details or information establishing the right and capacity or the relationship of the entity with the individual/s or:
  2. details or information establishing the validity or effectivity of the deposit transfer or
  3. copy of Board Resolution, order of competent government body/agency, contract or similar document as required/provided by applicable laws.
In the absence of any of the foregoing, PDIC shall deem the outstanding deposit as maintained for the benefit of the transferor although in the name of the transferee, subject to consolidation with the other deposits of the transferor.
  1. PDIC may require additional documents from the depositor to ascertain the details of the deposit transfer or the right and capacity of the transferee or his relationship to the transferor.
  1. The Bank is authorized to debit the account for any applicable service charges, fees and penalties.
  2. Withholding Tax - A final tax shall be withheld from the interest on savings deposits in accordance with applicable laws or regulations.
  3. Assignment of an Account - The passbook is non-transferable or assignable. The assignmenet of an account in favor of any beneficiary during the lifetime of the depositor to take effect after his death will be dealt with in conformity with the provisions of the law regarding the liquidation and disposition of a decedent's estate.
  4. Change of Address or Status. The depositor should immediately notify the Bank of any change in his status or address.
  5. The provision of Article 1250 of the Civil Code is not applicable to the depositor's account.
  6. These rules and regulations shall be in addition to the pertinent TERMS AND CONDITIONS GOVERNING DEPOSIT ACCOUNTS
The Bank may, without notice to the depositor, make such other rules and regulations or amend these rules and regulations as it may deem necessary for the best interest of the Bank and its depositors provided such additions, alterations or amendments are not contrary to banking laws and and the regulations of the Bangko Sentral ng Pilipinas or the By-Laws of the Bank.

All persons, at the time of opening a savings account, shall subscribe their names on the Customer Account Record of the Bank, and by doing so, they thereby agree to be bound by these rules and regulations including any amendments and additions thereto.

Transaction Codes

ASC - Service Charge Debit
CAJ - Credit Adjustment
CM - Credit Memo / EC
DAJ - Debit Adjustment
DEP - Booked Deposit
DEPN - No Book Deposit
DM - Debit Memo / EC
DRT - Returned Check
ITA - Interest Transfer to Account
INT - Interest Payment
SC - Service Charge
TRA - Transfer to Another Account
WD - Booked Withdrawal
WDA - ATM Withdrawal
WDM - No Book Withdrawal
WDC - Closing Transaction
WT - Interest Withheld
ZBC - Zero Balance Transfer Credit
ZBD - Zero Balance Debit

For lost or stolen BDO cards (such as BDO ATM card, credit card, visa card, master card, etc.,), please contact BDO immediately at the following numbers:
  • 631- 8000 (Metro Manila)
  • 1- 800-10-631-8000 (PLDT Domestic Toll-Free)
  • 1-800-3-631-8000 (Digitel Domestic Toll-Free)
  • 1-800-5-631-8000 (Bayantel Domestic Toll Free)
  • 1-800-8-631-8000 (Globe Domestic Toll Free)
  • International Access Code +800- 8-631-8000 (International Toll-Free Number).

Share This Post

If you like this article, we would really appreciate if you share this on Facebook, Twitter, or on any social media channels. Every share makes a huge difference and helps us write more articles like these. Thank You!

--- NOTICE ---
If you want to use this article or any of the content of this website, please credit our website (www.affordablecebu.com) and mention the source link (URL) of the content, images, videos or other media of our website.
"Banco De Oro (BDO) Bank Rules and Regulations of their Savings Account" was written by under the Banking category. It has been read 191466 times and generated 292 comments. The article was created on and updated on 08 April 2018.
Total comments : 292
DARWIN   (21 November 2019 7:38 PM)

what is the meaning of TRANSACTION CODE CLPDADA001

Susan D. Soria   (11 April 2019 3:50 AM)

Bakit nagzero balance account ako

Marites   (07 October 2018 9:37 AM)

Sa bluebook na passbook ba magkano ang dapat maintaining balance nia?

Sa kabayan magkano dn dapat ang maintaining balance nia?

Thank you so much. Godbless po.

Monica Mian   (17 May 2018 7:55 PM)

Hi, just wanna know if pwede po na magwithdraw using my passbook not in my home branch, waiting for your reply thanks

Adrian   (25 January 2018 6:47 AM)

Good day po pwede po buh yung ibang tao mag deposite ng checky sa account ko? Waiting for your reply, thank you.

genie   (18 July 2017 9:29 AM)

may minimum deposit ba sa kabayan savings accountor other types of account ?? Can I deposit P100, P150, P200 ??? Please I need aswer ASAP. Thannk you.

edz   (03 July 2017 6:02 PM)

panu po kung may passbook na ako at gusto ko mag avail ng atm ano po gagawin ko

rose   (26 June 2017 9:13 AM)

june 25,2017 6:54-7:00pm , nag withrew ako sa atm machine ng lanbank, i insert my atm then nilagay ko is 2000, tagal nya mag transact, then loading lang... mga ilan seconds din cguro may lumitaw sa screen na sabi sorry di nya maproprocess yung withrew ko, try ko nlng daw ulit.. so ginawa ko is lumipat ako sa kabila machine ,try ko 500 lumabas agad.. but when i saw my balance is only 63.57... nasan nayung 2000? san napunta, hindi nga po naprocess ung transaction ko pero hindi lumabas sa balance ung amount na nawala saken... tanong ko san ko dapat ireport at ano dapat ko gawin?

Rizza   (20 June 2017 3:23 PM)

hi good afternoon, just want to ask paano if yung account holder is namatay then gusto ng wife kunin yung naka deposit. pero yung acct is in manila and they are living in the province? pwede ba magbigay ng power of attorney?

Jennelyn Tindugan   (10 June 2017 9:26 AM)

Good morning. Itatanong ko lang po sana kung pwede po ba magwithdraw sa ibang branch ng BDO gamit ang passbook? At kung may charge po iyon? Salamat

raichelle ann sional   (02 June 2017 8:59 PM)

can i withdraw even without bringing my passbook?

Jack Noel Falcon   (27 May 2017 8:33 AM)

Okey very well said

Glenda magsalin   (07 March 2017 8:07 AM)

What are the requirements needed if you want to withdraw the money of an deseased depositors i need to know very badly

Marilou rivera   (20 December 2016 7:18 AM)

Hello goodmorning pwd po ask. I just want to know. If pwd po ba I transfer and account ko sa relative ko .. That's all I want to know. And if any charges po about that. Thank u. Have a good day.

Mary   (16 December 2016 4:41 AM)

Hello po tanong ko lang po magkano ba maximum deposit sa kabayan passbook.thank you

vicky   (28 November 2016 8:28 PM)

ask ko lng po .. may existing balance pa po ako na 4k sa atm ko pero d po ako nakawithdraw or deposit ng 1year .. nong magdedeposit na po ako naclose na daw po ung account ko.. bakit hnd po ako binigyan ng notice? .. nakakagalit lng ...

Joelyna   (24 November 2016 10:34 PM)

Pwede pa po bang maopen ng account ko kasi na zero balance po..sabi po ng teller nio po closed na daw po.

charon hemelo   (21 November 2016 5:51 PM)

Hi,,,gusto KO lang malaman f activated PABA any ATM account f one month na d nahulugan but this month hulugan KO,,...NSA ibang bansa ako ngaun and my ATM is debit,,,,every time deposit LNG AQ pwede?thank you,hope you respond soon!

Melvin Ramos   (15 November 2016 8:29 AM)

I have an account and I tried checking it using the android app.the account says it is inactive but when check the account on line it shows my balance. My employer deposits part of my income in this account that is why I am asking will there be issues if they attempt to deposit in my account. They were able to deposit last october 31, 2016. I was able to withdraw.The issue is I am here in Legaspi so I cannot go inquire directly in Makati. Please help me. Will there be issues should they deposit again in my account. I worry that the app indicates an inactive account while on line there is no indication

Melvin Ramos   (15 November 2016 8:18 AM)

I have an account and I tried checking it using the android app.the account says it is inactive but when check the account on line it shows my balance. My employer deposits part of my income in this account that is why I am asking will there be issues if they attempt to deposit in my account. They were able to deposit last october 31, 2016. I was able to withdraw.Will there be issues if my employer deposits my money on my account even if the app says it is inactive but on line i can access without any inactive account indication? I hope you can help me. thanks.

Tiffany Jean Uy   (27 October 2016 6:42 PM)

Hi, tanong ko lang po para saan ang DM deductions? nag open po ako ng kabayan savings sa BDO noong july ngayon ko lang po napansin na merong debit memo sa passbook ko, para saan yon na deductions?

Romeo T.Cano   (24 October 2016 2:17 PM)

How to check my account online

Regina minted Soriano   (20 October 2016 6:55 AM)

good morning po or afternoon po sa Philippines tanong ko lang po kung sakali mag open account ako sa branch ng banko de oro at nasa abroad ako at mag deposit sa account ko pero Hindi ko po na a update yong passbook pagkalipas ng contract ko ng dalawan taon okay lang po ba salamat po sana po ma sagut niyo ang aking katanungan...magandang araw po

vhicky L.   (18 October 2016 11:37 PM)

If maintaining balance of saving's account of 2,000 pesos has been totally withdrawn for personal emergency purposes within 6 months, is there still a possibility that the account is still active for the purpose of depositing BACK the maintaining balance of 2,000 pesos by DIRECTLY depositing WITHOUT undertaking the formal procedure of renewal and/or activating the account ?

admin   (20 October 2016 9:07 PM)

vhicky L, yes.

jon   (17 October 2016 7:58 PM)

pwede ko po bang i-encash ang BDO check ko from different branches? galing po sa Quezon yung isa kong check at yung isa ay sa las piñas. pwede ko ba i-encash yon sa ibang BDO branches?

Ma.corazon ganzas   (17 October 2016 1:51 PM)

Can we get the money of my mother amounting 45 thousand in her passbook but she did not do any trnsaction for 5 years

Ma.corazon ganzas   (17 October 2016 1:49 PM)

Hello i found out that my mother had savings account for 5 years and no transaction is done can we get her money but still shes alive

Dobrina Reyes   (18 August 2016 12:46 PM)

My S/A in $ was dormant for more than 2 years what can I do. It was opened at BDO, Visayas Ave, QC.
I'm already in Illinois, USA. What will I do to activate it again.
Please advise me. Thank you very much.

bel   (02 July 2016 10:35 PM)

i have a kabayan Saving account then one day decided to bring and have my bank book check then the teller give me a new one but its now blue a peso SAvings account without saying anything to me so i ignored the change.
the my sister deposited some money the teller said the account is now a regular account so... how and can i change it bak to a Kabayan account?

Benidicto Jacinto   (10 May 2016 4:12 PM)

Good day.

Is there any possiblities that I can check my account balance or my money in my Kabayan Savings Account. Im outside of our country so I just want to monitor my savings and if the money I deposit is already added to my account.

Just to update my account.

Thank you!

1 2 3 ... 7 8 »