Procedures On Applying A Bank Account At Bdo

In 2009, Banco de Oro Universal Bank Inc. (BDO) was listed in the top 10 companies in the Philippines. It was run and administered by SM Investments Corporation.

Finance Asia is a famous finance and business publication and magazine in Asia and the Pacific. It conducted a survey from June 2009 to May 2010 to determine who is the best banks in the Philippines. BDO got the award for best domestic bank in the Philippines for 2009.

BDO has many branches all over the Philippines and you will not find it hard to look for it since you can see one in every SM mall. Just like other Philippine banks, it has services on savings account, loans, remittance of money to Philippines, checking account and investment funds.

Sometimes it is hard to open a bank especially if you do not know what you will do. In opening a bank account, complete requirements is very important and just follow the tips outline below.

1. Choose which branch you will apply for an account. It is very important to select a branch near your place of residence or work.

2. Bring all needed requirements for opening a bank account which are listed below.

2.1 Two recent IDs with your personal information and photo and two photocopies of it

Typical ID acceptable in most of the banks includes: GSIS ID, OWWA ID, PRC ID, Postal ID, Senior Citizen ID, Driver License and other ID acceptable to the bank.

2.2 Billing statement in order to verify your place of residence. This can be electricity bill, water utility bill, telephone bill or credit card bill.

2.3 Two 1x1 photo ID

3. Tell the bank teller you want to open a bank account and afterward fill-up all necessary forms that will be given to you.

4. Make sure you complete all application forms, then give it to the bank officer together with your money for the initial deposit of your account. You can deposit as little as P50 or as high as P100, 000 depending on the kind of your account.

5. Claim your ATM card or passbook which is usually available for pick-up after 4-5 banking days. You may activate your ATM card in the ATM machine near the bank.

When opening a bank account, it is very important to ready all requirements before going to the bank to avoid delays and hassles. BDO bank can be one good choice in applying for a bank account in the Philippines.