HOW TO OPEN A PASSBOOK ACCOUNT
Here’s the list of requirements:
- 2 valid IDs with photo and signature
- 2 1×1 picture
- Initial deposit – The minimum is 10,000 pesos.
- A utility bill with a billing address printed on it
For reference, here’s the list of requirements I have submitted:
- Unified Multi-Purpose ID [Submitted a photocopy: front and back, and presented the original for verification]
- Passport [Submitted a photocopy: bio-page only, and presented original too]
- Additional: Company ID [Submitted a photocopy: front and back, and presented the original for verification]
- 2 1×1 picture [no preferred background color]
- Initial cash deposit
- My latest PLDT bill to support declared address in the application form [Submitted a photocopy: first page only, and presented the original]
Every BPI branch has a contact number that can be reached to verify if a certain ID is accepted or to inquire about opening a passbook account. The official website of BPI has a branch locator where anyone can look up a number to call. Check it here.
Documents ready? Just go to any BPI branch and proceed to customer service.
THINGS TO FILL OUT
There are three or more application forms that need to be filled out to open a passbook account. It is much better to drop by to a BPI branch early to have enough time to fill out and sign papers.
In my experience, I went to my branch of account an hour before their closing time. The office was already closed, but they let me stay until my account was activated and my passbook was released after updating. Yap! Same day processing and release of passbook.
A separate form should be filled out to enroll a passbook account as a third-party to an EOL account. The processing time is within 24 to 48 hours. Once added, it is possible to transfer fund immediately.
Want to get a BPI credit card the easiest way without the need to submit financial documents? Find out here.
“Deposit Account Rates” Bank of the Philippine Islands. Retrieved on December 20, 2015 from info.bpiexpressonline.com/bpiprod/produpd.nsf/Deposit+Rates/DepositRates1
“Bank Service Fees” Bank of the Philippine Islands. Retrieved on December 20, 2015 from info.bpiexpressonline.com/bpiprod/produpd.nsf/Deposit+Rates/BankServicesFees
“Savings Account” Bank of the Philippine Islands. Retrieved on December 20, 2015 from www.bpiexpressonline.com/p/0/18/savings
- December 25, 2015 – Added info about enrolling a passbook account as a third-party.
- May 16, 2016 – Transferred post from iamtenten.blogspot.com to this blog. Comments were not migrated. Major post revamp.
Please take note that this post has been created based on my personal experience, research and to serve as a reference. Policy and procedure might change without prior notice.
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