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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. PDIC REGULATORY ISSUANCE
  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. OTHERS
  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).
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"Banco De Oro (BDO) Bank Rules and Regulations of their Savings Account" was written by Mary under the Banking category. It has been read 221477 times and generated 299 comments. The article was created on and updated on 08 April 2018.
Total comments : 299
vhicky L. [Entry]

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 ?
Guest [Entry]

vhicky L, yes.
jon [Entry]

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 [Entry]

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 [Entry]

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 [Entry]

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 [Entry]

hello
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 [Entry]

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!
anthony castillo [Entry]

my mother have a savings account. my daughter in japan regularly sends money to this account.but lately i am surprised to check that over 200 pesos was being deducted to the account for the last 3 occasions.the last deduction or was missing i should say is 270 pesos.i wonder why.hope i can be enlighten.
Ma. Gina [Entry]

I am out of the country but deposit monthly to my account. We deposited a few days ago but my son says the account is blocked or inactive through ATM. How can he withdraw the money?
Allan R.de Guzman [Entry]

What are the requirements in depositing check in my payroll account.Do I need to bring two id cards?
randy marquez [Entry]

good day! i would like to know if my bdo kabayan saving account is still active even i did not use or make deposit for the last 2yrs? know i want to use but i confused if my kabayan savings accnt is still active or already closed? please kindly reply, thank you very much!!!
Ma. Regina Balandra [Entry]

I would like to know how can i withraw using my brother's account aside from securing a written authorization letter?My brother asked me to withraw in his dollar account he is a seafarer and currently onboard. He asked if he can call the bank if further info needed.
ana liza centeno [Entry]

hi good day,, i just want to ask if my kabayan(yellow)savings account will close if i didnt deposit for a year already?im afraid it will be closed.but i have deposit a few amounts last year i just stop for important matters and i will continue maybe nxt january is it still possible?if not so please tell me what to do.thanks.
Jovelyn Cabildo [Entry]

Good day!

I would like to know if it's ok to deposit in your passbook even if it doesn't been written there, and the money came from the online business i have. By the way I'm currently in Saudi Arabia and the passbook is with me.
daryl ramos [Entry]

How can I do? I forget my ATM pin, but until now I continue to deposits in my account,
Mariza Olanda [Entry]

Can a wife claim her husbands savings if the latter died?
CATHERINE PABULAR [Entry]

Dear Sir,

I would like to inquire if possible to Deposit SSS Cheque (from my maternity benefit) at my Savings Account.

Awaits for response.

Truly,

Catherine
carrie [Entry]

Hi! Can I do withdrawal on my sister's account? I have the passbook,she also sent me authorization, copy of her I'd online. She is actually overseas right now. Thanks.
bonn mitchelle bacotot [Entry]

Can i withdraw my account balance on the teller if my atm is lost?
John paul [Entry]

Hi, can i ask about the withdrawal thingy? Is it possible to use the passbook of my mom even though i dont have authorization letter? please reply ASAP :( need help thanks alot!!
ariane legaspi [Entry]

Hi what if i accidentally withdrawed my maintaining balance in atm?? The maintaining balance should always be 2000 but when i withdrawed earlier, the balance says only 1959 was left. What should i do about it? I need an accurate response. Thanks.
Natalia Andrea Castronuevo Somido [Entry]

Good evning I ask about my Bdo kabayan saving because my family send to me money in my account but when I check my balance the message. Is error code 05 do not honor can please advice me? And if ever my account is close the money will returned back to the sender?thanks a lot
Chadmarc Zolina [Entry]

I just came today in atm machine why it was written there my transaction does not excess
Chadmarc Zolina [Entry]

i just went there today why my card transaction does not excess
Maghie Bautista [Entry]

Can I withdraw in other branches using the passbook that's not mine but having authorized by them?
Maghie Bautista [Entry]

How can representatives withdraw money? My father is not here in the Philippines and I sent him the withdrawal slips to be signed. Only the passbook is here with me, and I need to withdraw the remaining balance in his account for allowance. Unfortunately, I lost his ATM Card and had it blocked. (They allowed me to block it since I confirmed the blocking with my Father's approval). My Father is not going home any time soon, and I badly need the money for allowance because they're not going to deposit any money for me anytime soon and due to my carelessness. Can I still withdraw the money? With withdrawal slips signed by him and his Identification Card with me?
Anonymously [Entry]

Just curious, what happens to your account if you accidentally died?
Aldrich John Baldoz Omandap [Entry]

I have a kabayan saving account (mastercard) but i'm afraid to deposit it since I don't know the condition. Could it be possible to deposit here in saudi arabia then after two (2) years, can I withdraw all that I deposited within two years??? In short, my question is; If I deposit money to my own kabayan saving account (color yellow) can I withdraw all with waiting for some years?

Thank you!
beryll [Entry]

how much is the maintaining balance if passbook with atm?
Emierose L. Basmayor [Entry]

can I save money in different branches of BDO?
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