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Metrobank Rules and Regulations Governing Savings Account Passbook

These are the Rules and Regulations governing Metrobank's savings account passbook. These are basically important to all Metrobank account holders as to remind them some important guidelines concerning their savings account passbook. Some vital questions will be answered such as:

> How to withdraw your money without personally going to the bank?
> Can a minor or a person below 18 years open a Metrobank account?
> What to do if your Passbook is lost or stolen?
> Are there any hidden charges for dormant accounts?
> Can a living person withdraw the money if his joint partner of the joint account is dead?

Answers to such questions and many more will be revealed to you as you go along reading the whole article.
Metrobank Passbook Savings Account
Picture of a Metrobank Passbook Savings Account

- Any person who is at least seven (7) years of age and not suffering from any legal disability may open a savings account in the METROPOLITAN BANK & TRUST COMPANY (the "Bank"). A parent may open a savings account for the account of his minor child. Such account remains under the exclusive control of the parent. However, he may neither assign the account nor subject it to any other lien or encumbrance. Upon his death, the account passes on the child. Any guardian, trustee or administrator may also open a savings account for a person or estate committed to his care.

2. DEPOSITS- The Bank shall require an initial minimum deposit from the depositor. It may, at any time, return to the depositor his deposit, together with the interest due. The Bank will notify the depositor, either personally or by mail, of its intention to close the account, and interest will cease from the date of such notice.

Check deposits are treated as collection items only and as such, posting of check deposits shall not be construed as an acceptance of the deposit. Furthermore, the Bank reserves the right to immediately charge off returned items or deny acceptance of the check.

3. THE PASSBOOK - Upon opening of a savings account, the Bank will furnish the depositor with a 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 in the passbook shall be made except by the Bank. The passbook is not a conclusive evidence of the balance in the account. Furthermore, it is not transferable.

All entries in the passbook shall be machine-printed/validated to be considered as valid entries of the Bank. For typewritten entries, they shall contain the affirmation/authentication of two (2) authorized officers of the branch through their signatures/initials opposite the typewritten entries.

The Bank shall not allow any deposit or withdrawal unless the passbook is presented by the depositor. He shall carefully safekeep the passbook. In case it is lost or stolen, he shall promptly report it in writing and submit an affidavit to the Bank giving all the circumstances surrounding the loss. If it is not found within a reasonable time, the depositor may apply for a new passbook which, when issued, shall show the balance outstanding to his credit as shown in the books of the Bank. The depositor shall pay a service fee for the replacement of the lost passbook.

4. HOW TO DEPOSIT - The depositor or his representative may make deposits by properly filling out a deposit slip. If the depositor cannot write, he must have the deposit slip filled out by a person other than an employee of the Bank.

5. HOW TO WITHDRAW - The depositor or his representative may make withdrawals by properly filling out a withdrawal slip. The Bank may allow withdrawals by a person other than the depositor himself only upon the depositor's written authority which must be fully authenticated. If the depositor cannot write, he must have the withdrawal slip filled out by a person other than an employee of the Bank, who, must sign the same as one of the two witnesses to the affixing of the fingerprint of the depositor.

No depositor shall be permitted to withdraw from his savings account any amount in excess of the balance outstanding to this credit as shown by his passbook. Neither will a depositor be permitted to withdraw any sum that includes fractional part of a peso except when closing the account. The Bank reserves the right to require 60 days prior written notice of any withdrawals from a savings deposit.

If the Bank has knowledge of the death of person who maintained a deposit jointly with another, it shall not allow any withdrawal by a surviving depositor from the said account unless the Bureau of Internal Revenue (BIR) has certified that proper taxes have been paid thereon. For this purpose, all withdrawal slips shall contain statement to the effect that all of the joint depositors are still living at the time of withdrawal by any one of the joint depositors.

6. CLAIM AGAINST ERRONEOUS ENTRY - A depositor must promptly question any erroneous entry in his passbook before leaving the Bank premises.

7. INTEREST - Deposits shall earn interest at such rate as may be determined by the Bank in accordance with the pertinent regulations/guidelines issued by the Bangko Sentral ng Pilipinas (BSP). The minimum amount that shall be entitled to interest shall be fixed by the Bank and shall be computed based on actual daily/cleared balance compounded quarterly. No interest shall be paid on accounts (a) which have remained dormant/inactive for two (2) years; or (b) closed prior to interest posting. A dormant account that is reactivated shall earn interest starting from date of reactivation. All returned checks shall be excluded from interest computation from date of deposit to date of return. The passbook must be presented to the Bank to have the interest entered thereon.

8. SERVICE CHARGE - A service charge shall be imposed without notice on an active account that falls below the required monthly Average Daily Balance (ADB) for at least two (2) consecutive months. A service charge will likewise be imposed without notice on dormant account if its balance falls below the required monthly ADB. The service charge shall be subject to change with prior notice that shall be posted within the Bank premises.

9. CLOSING OF THE ACCOUNT - When a depositor wishes to close his savings account, he shall fill out a withdrawal slip that must be made out for the amount of the balance outstanding to the depositor's credit as reflected in the passbook. The depositor shall pay the Bank a service charge for closing his account within thirty (30) days from opening date.

10. CHANGE OF ADDRESS - A depositor shall immediately notify the Bank in writing of any change in his address or contact information.

11. DORMANT ACCOUNTS - A dormancy fee shall be collected on accounts that are inactive for at least two (2) years regardless of account balance. A dormant account that is reactivated shall earn interest starting from date of reactivation, and may be classified as dormant again after having been inactive for two (2) years. The dormancy fee shall be immediately debited from the dormant savings account.

12. COMPUTER BREAKDOWN -  In case of computerized operations, the Bank shall not be liable for any loss or damage that may incurred by the depositor(s) or any third party due to any information in the passbook which may be erroneous, delayed, or subject to adjustments as occasioned by computer programming defects, faulty communication lines and/or any other deficiencies (hardware and software) of the computer system.

13. EXTRAORDINARY INFLATION OR DEFLATION - In case of extraordinary inflation or deflation of the currency stipulated herein, the provision of Article 1250 of the Civil Code shall not apply.

14. ACCEPTANCE OF RULES - The depositor is understood to have accepted and therefore shall be bound by the conditions stated herein and other additional regulations as the Bank may subsequently make covering his savings account. The Bank reserves the right to revise any of the foregoing rules and regulations. New, revised or amended rules and regulations shall be posted within the Bank premises.

15. PDIC* - Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to a maximum amount of Two Hundred Fifty Thousand Pesos (250,000.00 pesos) per depositor.

PDIC shall presume that the name/s appearing on the deposit instrument is/are the actual/beneficial owner/s of the deposit except as may be provided herein.

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 of the transferor.

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 the 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 the 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 forgoing, 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.

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.

Frequently Asked Questions (FAQ)

Can I withdraw anytime?
  • Yes. You can withdraw anytime you want. If you have a Metrobank ATM card, you can withdraw in the ATM machine anytime (24 hours a day, 7 days a week). If you have a Metrobank Passbook you can only withdraw during banking hours.
Can I withdraw the money in the bank immediately after the withdrawal?
  • Yes.
If I wanted to withdraw the initial deposit (Php 10,000) for passbook, can I get it in full?
  • Yes. But you should be aware of the Php 300 penalty if your balance reaches below maintaining Average Daily Balance.
If I withdraw in other branch, do I need to bring or present an ID?
  • Yes.
Can I withdraw in my Metrobank Passbook on a different Metrobank branch?
  • Yes.
How to reactivate a dormant account?

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"Metrobank Rules and Regulations Governing Savings Account Passbook" was written by under the Banking category. It has been read 64078 times and generated 71 comments. The article was created on and updated on 15 July 2015.
Total comments : 71
Lito Crisostomo   (25 November 2020 9:55 PM) [Entry]

If my sister recently died, and her immediate compulsory heir / beneficiary is our old mother. What are the checklists of requirements needed to prepare and submit in order for my mother to withdraw the deposit of my deceased sister?

Thank you for your answer.

- Mr. Crisostomo

Maryan bajao   (16 May 2018 11:38 PM) [Entry]

Dear metro bank may tanung me may nagpadala ng notice sa ken about sa dormant account ko pero effective ny may 16 2018 para maging 2years pero kakapadala ko pa lng ng pera ng april 2018 anu magiging dormant account na ba wala pa nga may 16 2018

Ronnie   (26 April 2018 11:08 AM) [Entry]

By the way my brother has an anctive account in your bank Metro bank zamboanga branch.he died at sea..last year

Ronnie   (26 April 2018 11:04 AM) [Entry]

My brother died last year he is legally married without any children but have one legitimate child in another woman..can his child and my parents is entitle also fo the beneficiaries?

Ronnie   (26 April 2018 10:59 AM) [Entry]


Paul   (05 January 2018 1:09 PM) [Entry]

Can I transfer my account to other metrobank branch?

Ednalyn cabais   (31 May 2017 8:45 PM) [Entry]

Hi, ask q lang po kung paanu o reactivate ung na dormant na account ng mga anak q sa pinas? Nasa 13 yrs old at 12 yrs old palang po mga anak q na nakapangalan sa account nila. Nandto po kami sa hongkong ng asawa q..ask q po sana kung anu ang dapat gawin para ma reactivate po..thanks

michael escaner   (21 March 2017 1:55 PM) [Entry]

Good day!

Tanong ko lang po sana if pwede po akong mgtransfer ng pera, more than the maximum allowable withdrawal per day, from my metrobank atm (savings account) to another metrobank account. Gagawin ko sana siya over the counter ska no cash out na.

Hope you would reply asap on my inquiry.

Thank you,


Myra macapagal   (10 March 2017 8:15 AM) [Entry]

Hello po. Pwede po ba mag update ng passbook kahit saang branch ?

Garnet   (26 January 2017 1:20 PM) [Entry]

How much po ang service charge/fee for closing an account? Thank you!

erbie goloran   (17 January 2017 10:46 AM) [Entry]

good afternoon po.pwede po kayang mag deposit po ako ng coins like 25cents kahit po atm holder lng po ako..pwede po kya yon...thank you po sa sagot

erbie goloran   (17 January 2017 10:43 AM) [Entry]

hi poh may account poh aq sa metrobank..pero atm poh....pwede poh kya akong mag deposit ng 25cents poh.....or 1piso pwede poh kya yon ??ty poh

Jenna delrosario   (02 December 2016 3:02 PM) [Entry]

If the child was not registered yet, pwede na po ba yung birth certificate or baptismal po muna yung ipresent???

Sheena M. Cerezo   (20 October 2016 6:42 PM) [Entry]

Hello, can I ask if I had a right to access an account under my name but I don't know the account number even the passbook because they kept it?

tom   (27 September 2016 9:41 PM) [Entry]

Hi, what if I withdraw the maintaining balance through online banking and transfer it to my atm, will my passbook acct. be closed?

Fidel V. Pedelino   (03 September 2016 7:03 AM) [Entry]

Hi po, how to close metro bank account? should I go personally to the bank ?

June   (05 August 2016 8:35 AM) [Entry]

Hi po, my account was deactivated due to having 0 balance for like about 4 months. Can i still reactivate it?

Anna   (04 August 2016 7:54 AM) [Entry]

What will I do if I lost my savings passbook?

admin   (04 August 2016 8:37 AM) [Entry]

Anna, go to your branch of account and report the loss immediately. You will need to bring Affidavit of Loss duly notarized by a lawyer. And don't forget to bring your valid IDs.

Ernald M. Du   (11 July 2016 5:47 PM) [Entry]

Good Day
i want to ask
How much is the dormant fee if I want to reactivate my atm card because i wasn't able to have my deposit in my account and i want to activate it again.

Thank you..

Benson   (25 June 2016 3:34 PM) [Entry]

How much is the dormant fee if I want to reactivate my atm card? Thanks

Joan   (30 March 2016 11:20 AM) [Entry]

how many months before my account becomes closed or deactivated if I'm not able to deposit? How can I know if it's still active?

dhaiz   (15 January 2016 5:59 AM) [Entry]

thank you

dhaiz   (15 January 2016 5:58 AM) [Entry]

good morning sir/madam
im a OFW can i ask if i didnt deposit my atm account for almost 7 months are they active...my atm account is OFW ATM now they told me its 0% interest...

ruth daluz   (12 January 2016 12:34 PM) [Entry]

Hello sir /madam, can I ask some question, if I didn't deposit money on my savings account for 8 mos,is it still active?

admin   (13 January 2016 7:17 AM) [Entry]

Yes, ruth.

maricon   (26 September 2015 6:08 AM) [Entry]

If I open an account here in Japan can I withdraw money there in the philippines??

admin   (13 January 2016 7:18 AM) [Entry]

Yes, maricon.

jayson   (14 September 2015 2:41 PM) [Entry]

i want to open account in bdo but my valid,id is 1only. i have another id like student id.,can i allowed me to open,account bdo

maya   (16 April 2015 10:27 AM) [Entry]

Can I withdraw money from my passbook account to any metrobank branch aside from the branch where I made it? Will there be charges?

rollen   (08 December 2014 2:25 PM) [Entry]

good afternoon my savings account is inactive for 14 years now because i let my mother kept my passbook for the reason that i was always on field assignments before, i didn't bother about it and somewhat merely forgot it. Last 2012 my mother died , it was just today that we had renovation with her room that i found this passbook. Can i still reactivate it considering the number of years that had passed. My last deposit was 10.27.00 thanks.

icar   (14 April 2014 9:32 AM) [Entry]

goodmorning! ask if there is any limit on withdraw over-the-counter and what is the maximum limit? thanks.

marily punzalan   (17 March 2014 9:53 AM) [Entry]

gud day..i was recently going through my dad's stuff and i came accross his bank book.i found out that he still has a deposit with your bank.the account was a joint account with my mom..unfortunately,my mom passed away recently.last deposit on the account was done in 2005.i want to know if i can still claim the money in the said account?if so,what are the requirements?i hope you will entertain my inquiry.thanks.

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