With over 900 branches and more than 3,000 ATMs and cash deposit machines, the Bank of the Philippine Islands (BPI) is one of the country's oldest and largest banks. Individuals can choose from a variety of BPI savings accounts with varying benefits and features. Most people can get by with a regular savings account, but overseas Filipino workers (OFWs) and minors under the age of 18 will need a different kind of savings account.
The ability to conduct online transactions via the BPI online banking website and mobile app is one important feature of your BPI savings account. The fact that online banking is accessible without the use of a credit or debit card sets BPI apart from other financial institutions. Through BPI online and mobile banking, you can still deposit money, transfer funds, pay bills, and check your balance even if you only have a passbook account. ,'_com-medrectangle-3','ezslot_5',191,,_('div-gpt-ad-_com-medrectangle-3-0');
BPI does not currently provide online account opening, but this may change in the future. You will need to personally visit a BPI branch and fill out some paperwork to open a BPI savings account. You only need to return to the bank a week or two later to claim your ATM card, and the process takes less than an hour.
Table of Contents: Types of BPI Savings Accounts: BPI Regular Savings Account; BPI Passbook Savings Account; BPI Pamana Savings Account; BPI Maxi Saver; BPI Jumpstart; BPI Save-Up; BPI Kaya Savings Account; BPI Advance Savings Account; BPI US Dollar Savings Account; BPI Pamana Padala; BPI Padala Moneyger; BPI Savings Account Requirements1. Two valid identifications—original and photocopy—2. Recent Utility Bill or Evidence of Payment3 Two brand-new pictures4. Number for taxpayer identification (TIN) 5 A Step-by-Step Guide to Making an Initial Deposit in a BPI Savings Account1 Go to the BPI branch2 closest to you. Completing the Application Form3 Submit the Application Form and Requirements4. Claim Your ATM Card or Passbook5. How to Change the PIN on Your ATM Card and Join BPI Online Banking
Types of BPI Savings Accounts BPI provides a variety of savings accounts to meet your individual requirements.
The most common BPI savings account has an ATM card and electronic banking features. BPI Regular Savings Account You can open an account for just 3,000 yen ($300,250), ""_com-medrectangle-4,"" ""ezslot_6,"" and ""192,"" respectively;
Initial payment: 3,000 Keeping the balance: Balance to earn interest: 3,000 5,000 yenInterest rate: BPI Passbook Savings Account: 0.125 percent per year This savings account is for people who would rather use a passbook than an ATM card. BPI's online banking services are still available to holders of passbook savings accounts.
Initial payment: 10,000 Keeping a balance: Balance to earn interest: 10,000 25,000 dollarsInterest rate: BPI Pamana Savings Account, 0.125 percent annually BPI Pamana is a card-based savings account that comes with free life insurance for up to three times your average account balance (up to a maximum of two million dollars).
Initial payment: 25,000 Keeping the balance: Balance to earn interest: 25,000 25,000 dollarsInterest rate: BPI Maxi Saver, 0.125 percent annually This BPI savings account offers higher interest rates. The more money you put away, the more interest you get. In addition, if you do not withdraw money within a month, you will receive an additional 0.5 percent interest.
Initial payment: 50,000 Keeping the balance: Balance to earn interest: 50,000 50,000 dollarsInterest rate: 50,000 to 499,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999,999 It lets you set a minimum balance that can't be taken out and when your child's allowance will be transferred from your bank account. '_com-box-4','ezslot_7',193,,_('div-gpt-ad-_com-box-4-0');
Initial payment: 100 Keeping the balance: Balance to earn interest: 1,000 Rate of interest: 2,000 0.125 percent annually BPI Save-Up With a BPI Save-Up account, you can practice good saving habits. You can get free life and accident insurance worth 5 times your average daily balance (up to 2 million) by transferring funds to your BPI Save-Up account automatically.
Initial payment: NoneMaintaining equilibrium: Balance to earn interest: 1,000 5,000 yenInterest rate: BPI Kaya Savings Account: This account is great for people who are concerned about their finances because it only requires a $200 initial deposit and doesn't require them to keep a balance. BancNet and BPI ATMs also have low fees for withdrawals.
Initial payment: 200 Keeping the balance: NoneTo earn interest, balance: 1,000Rate of interest: 0.125 percent annually BPI Advance Savings Account: In addition to earning interest in advance with each deposit, this account offers higher interest rates than standard savings accounts.
Initial payment: 100,000 Keeping the balance: Balance to earn interest: 100,000 100,000Rate of interest: BPI US Dollar Savings Account Put your money to work for you: 100,000 to 999,999 = 0.75% to 1.125 percent. You can open a US dollar account and withdraw funds at any ATM that is affiliated with MasterCard or Cirrus anywhere in the world for just $500. 300,250],'_com-banner-1',);
Initial payment: $500 in remaining funds: Balance of $500 to earn interest: Rate of interest: $500 BPI Pamana Padala allows you to send your hard-earned money to your family back home at lower fees, and it is designed for OFWs. In the event of the account holder's death, the beneficiary will receive up to 300,000 per month for a year as free life insurance.
Initial payment: 500 Keeping balance: Waived if there are four annual remittancesBalance to earn interest: 5,000 yenInterest rate: 0.125 percent annually BPI Padala Moneyger With the BPI Padala Moneyger, you can receive international remittances directly into your bank account. As long as you send at least four remittances per year, there is no requirement to keep your account in balance.
Initial payment: NoneMaintaining equilibrium: Waived if there are four annual remittancesBalance to earn interest: 5,000 yenInterest rate: 0.125 percent annually Compare each BPI savings account in the table below:
Type of AccountMinimum Monthly ADBADB to Earn InterestInterest Rate (Pa.) Initial Deposit
BPI Savings Account Requirements Before you go to the nearest BPI branch to open your savings account, make sure that you have the following requirements.'',_;
1. Two (2) valid IDs—both original and photocopy—Bring both original and photocopied IDs. Don't worry if you forgot to take a picture of your IDs; the account officer will take a picture of them for you. However, to save time, it is preferable to photocopy them yourself. Photocopy both the front and back of your identification card.
The following is a list of valid IDs that BPI accepts:
Passport, Social Security System (SSS) ID, Government Service Insurance System (GSIS) e-Card, National Bureau of Investigation (NBI) clearance, Police Clearance, Driver's License, Professional Regulation Commission (PRC) ID, Taxpayer Identification Number (TIN) ID, Postal ID, Voter's ID, Senior Citizen Card, Overseas Filipino Worker (OFW) ID, Workers Welfare Administration (OWWA) ID, Seaman's Book, Integrated Bar of the e.g., the Home Development Mutual Fund (HDMF) and the Armed Forces of the Philippines (AFP). Company identification cards issued by private entities and institutions that are registered with, supervised, or regulated by the Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), or Insurance Commission. Immigrant and alien registration cards. Professional identification cards issued by the Maritime Industry Authority (MARINA). The most recent utility bill or proof of billing will need to be submitted by you. The utility bill should show your current address. As long as it shows your address, the utility bill need not be in your name. Electricity, water, Internet, and postpaid phone bills are all examples of utility bills.
You can print your bill even if you only have an electronic version; it will still be accepted. In my case, I printed the PLDT bill that I downloaded and received via email. ,'_com-leader-1','ezslot_12',196,,_('div-gpt-ad-_com-leader-1-0');
3. Two (2) Recent 22 Photographs BPI will also require two 22 photographs as identification evidence. A signature card with which you will provide several examples of your signature will have the images attached.
4. Taxpayer Identification Number (TIN) These days, opening a bank account requires a taxpayer identification number, or TIN. If you work, ask your employer for your phone number. Apply for a TIN at the revenue district office of the Bureau of Internal Revenue (BIR) in your area if you are unemployed or a student. Fill out BIR Form 1904 with an official document that includes your name and date of birth, such as a PSA birth certificate, passport, or cedula. Your TIN will arrive on the same day.
You will also need an endorsement letter from BPI if you want to apply for a TIN to open a savings account. Go to the BPI section for opening an account and ask for an endorsement letter requesting a TIN from the BIR. Together with your official documents and the completed BIR Form 1904, submit this endorsement letter to the BIR.
5. The amount of your initial deposit is determined by the type of savings account you select. Your initial deposit is 3,000 yen if you choose a standard savings account.'_com-large-mobile-banner-1','ezslot_14',197,,_('div-gpt-ad-_com-large-mobile-banner-1-0);
Guide for Opening a BPI Savings Account in Steps Now that you have all of the information needed, it is time to open your BPI savings account. In most cases, this will take less than an hour. Put everything you need in a brown envelope or folder for convenience.
1. Go to the BPI Branch Nearest to You Bring everything you need, including the initial deposit, to the BPI Branch Nearest to You. The BPI Branch Locator page can be used to locate the closest branch to you. Navigate to the New Accounts section once you arrive.
2. Complete the Application Form Obtain the Application Form from the Account Officer and complete it accurately. In order for the officer to provide you with the appropriate application form, you should specify the kind of savings account you wish to open.
3. Submit Requirements and Application Form Present your completed application form and requirements to the account officer. Your application and requirements will be reviewed by the account officer. She will also inquire about your reasons for opening a savings account and the frequency with which you will deposit funds. '_com-large-mobile-banner-2','ezslot_15',198,,_('div-gpt-ad-_com-large-mobile-banner-2-0');
After that, you'll be asked to sign a few examples of your signature. Give your initial deposit, and then you can get your deposit slip. You will be instructed by the account officer to return in a few days or weeks to claim your ATM card.
4. Claim Your Passbook and/or ATM Card If the account is a passbook savings account, you will receive your passbook right away. In most cases, ATM cards can be claimed within three to five business days. Regardless, the account manager will let you know when you can use your card. Present your valid identification and the deposit slip to the New Accounts section of the BPI branch where you opened your account in order to claim your ATM card.
5. Change the PIN on your ATM card as soon as you get it—within two days—of receiving it. To change your PIN, follow these steps:
Insert your ATM card at a BPI ATM. Decide on a language. Enter your new PIN twice after selecting ""Change PIN."" When asked if you want a receipt, choose ""Yes"" or ""No."" Enter the previous temporary PIN, and the message ""Successful PIN Change"" will appear if the change went well. “Obtain your card. The new PIN can be used now.
How to Join BPI Online Banking With BPI online banking, you can use your computer or mobile phone to check your balance, transfer money, and pay bills. You don't have to go to the BPI branch to do your banking business, so it's convenient.
Passbook accounts as well as any other type of BPI savings account can be enrolled in BPI online banking. To get the most out of online banking, you don't need an ATM or a credit or debit card. Simply wait for 48 hours for your BPI savings account to be activated before enrolling in BPI online banking.580,400],'_com-leader-2','ezslot_16',199,,_('div-gpt-ad-_com-leader-2-0');
The steps to enrolling your savings account in BPI online banking are as follows:
Go to https://online.bpi.com.ph, the BPI online banking website. Below the login window, select ""Register Now."" Select ""Deposit"" from the product type drop-down menu. “Enter the account number here. Enter your birth date. After solving the captcha, select ""Next."" Click ""Next"" to nominate a username consisting of six to twelve letters and numbers and a password consisting of at least eight characters. “Type in your email address here. Mark the box that says you accept the terms and conditions. Select ""Submit."" After verifying the accuracy of your registered mobile number, select ""Yes, send me the code."" Click ""Submit"" after entering the one-time PIN (OTP) that was sent to your number. “A new BPI online banking account has been set up for you. The confirmation should be in your email.
You can now use your username and password to access your BPI online banking account after successfully enrolling. The BPI mobile app can also be downloaded from Google Play or the App Store.
Have fun banking!
You have it now. You just received instructions on how to open a BPI savings account. To avoid service fees and eventual account closure, ensure that your minimum daily balance is kept at least equal to zero. Never give strangers your account information to protect your money.
Call the BPI customer service hotline at (+632) 889-10000 or send an email to help@bpi.com.ph if you have any questions or concerns.
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