Are you looking for BDO ATM savings account requirements?
Have you applied for a BDO ATM card before?
Or maybe you want to open a BDO savings account for your emergency fund needs?
If so, then this blog post is especially made for you.
Here, we’ll talk about the ATM card requirements you need for BDO, together with the step-by-step process of ATM card application and some frequently asked questions about opening a BDO ATM card.
- What is BDO maintaining balance?
- BDO ATM Savings Account Requirements
- How to Open a BDO Savings Account?
But first, let’s talk about what BDO is.
What is BDO?
BDO or BDO Unibank Inc. is a popular choice among a lot of Filipinos mainly because of its convenience and accessibility.
Because of SM’s overpowering presence in the country, almost every mall I go to has a BDO branch, how about you?
Also, a lot of Filipinos trust its name because of its credibility. In fact, a few years ago, FinanceAsia has named it as the Best Bank in the Philippines.
I also appreciated what BDO did during the pandemic to ease the financial burden of its consumers. Since they delayed payments, other banks followed suit, so that was a good move on their part.
I have a confession to make, though.
When I was in college around 3 years ago, I actually disliked BDO because I always had bad experiences with their staff.
No one smiled. No one seemed to enjoy doing his job. And no seat is available for seating every time I went to their branch.
Several years later, I’ve decided to give BDO another chance.
I mean, just because I had an unpleasant experience with one of their branches doesn’t mean that I have to shun it altogether, right?
Now, I’m nostalgic to say that BDO is one of the oldest banks that I opened a savings account and investment account with when I was 19 years old. 🙂
What is the BDO ATM maintaining balance?
Upon researching, I found out that BDO has a lower amount of maintaining balance with regards to the ATM savings account.
BPI demands a ₱3,000 maintaining balance amount while BDO only needs ₱2,000 maintaining balance for your BDO ATM account.
The ₱1,000-difference may not seem like a lot. But I actually appreciated this because it means that the lower the maintaining amount is, the more accessible it is to Filipinos, so the more Filipinos can get started having a bank account.
Now that you know what the minimum maintaining balance is for your ATM account, let’s talk about the requirements to open a savings account below.
What are the BDO ATM savings account requirements?
Before opening an ATM savings bank account with BDO, make sure you have the following requirements below.
- At least two (2) valid IDs presented below (with your name, picture and signature)
- School ID or Company ID
- Driver’s License
- NBI Clearance or Police Clearance
- Postal ID
- Voter’s ID
- PhilHealth card, SSS card or TIN card, among others
- Two (2) pieces of 1×1 pictures
- ₱2,000 to be deposited as your maintaining balance
- Proof of billing – other branches require this, although in my experience, they didn’t ask for this anymore
- Proof of billing can be a credit card statement, electricity bill, water bill, cable bill or even internet bill that’s under your name. If it’s not under your name, you can submit one under your parent’s name and get an authorization letter signed by them, too.
Already prepared the BDO ATM card requirements in advance? Great for you.
In the next section below, we’ll show you the steps so you can find out how to open an account in BDO this 2022.
How to Open a BDO ATM Savings Account (Easy Steps)
To apply for your BDO savings account, you need to do the following:
1. Prepare the BDO ATM card requirements.
You can either bring your originals and let the bank photocopy them for your or bring the originals and two (2) photocopies of your IDs already.
Personally, when I opened my bank account with BDO, there was a photocopier near our house so I brought my original IDs together with their photocopies.
2. Fill out and print the BDO account opening forms.
Now that more and more banks want to adapt an online banking approach, you can easily download BDO’s forms and fill them out at your home.
Make sure to complete these account opening forms and print them once you’re done filling them out.
• Customer Information Record
• Foreign Account Tax Compliance Act
• Supplemental Form for Online Gaming Business
3. Go to your preferred BDO branch.
You can even choose which one is the best in terms of location and customer service. You’ll be with them for a long time, should you choose to, after all.
Recently, I find that most branches have different qualifications when you tell them you want to apply for a BDO ATM card with them.
Some branches want your home or office to be within their vicinity, so they can accept you as a depositor.
Other BDO branches don’t really mind, so it depends on the branch that you’ve chosen to open an ATM account with.
4. Proceed to the New Account desk.
Not sure where to go? You can always ask the guard to direct you to where to go if you want to open a bank account with BDO.
Once you’ve arrived at the New Account desk, tell the bank officer there that you’d like to open an ATM savings account.
Specify that no, you don’t want a passbook. What’s the difference between a passbook and ATM account? It’s their maintaining balance. Passbook savings account has ₱5,000 maintaining balance.
5. Confirm the data you’ve filled out in your printed forms.
Check for mistakes and confirm the accuracy of your information. Some people write “2022” for their birth year, so take note! 🙂
6. Give the ₱2,000 deposit.
The bank officer will get your money and deposit it to BDO. Make sure to keep the deposit slip with you, because it contains your ATM bank account’s number.
7. Come back to the branch after seven (7) working days.
You can also call them first before going to the branch: sometimes, your BDO ATM card isn’t ready yet so you may end up wasting your time by going there without confirming its availability.
Better to call them or text the official branch representative first before going back.
That’s it! Now all you have to do is wait for your BDO ATM card.
Then, after a week, you can go to your BDO branch and claim your BDO ATM card already. Congratulations! You’re well on your way to having a bank account for your own financial security.
Frequently Asked Questions on BDO Account Opening
I’m not connected with BDO, but since I have personal experience about opening a bank account with them, I can help you out if you have any questions about it.
Here are some questions you may have about how to open an account with BDO, together with my answers based on experience, so tread lightly. 🙂
What is the minimum maintaining balance for BDO ATM?
The minimum maintaining balance for BDO ATM is ₱2,000. This means that if you have less than ₱2,000 on your BDO ATM savings account, the bank can close your account.
How much is the minimum account I can withdraw from BDO ATM?
Technically speaking, the minimum withdrawal amount from a BDO ATM is ₱200.
Based on my experience, though, ATM terminals usually dispense ₱1,000-bills during ATM withdrawal, so this depends on the ATM machine you’re using.
What’s the ID I can use for BDO ATM savings account if I’m a student?
No worries. According to the BDO website, you can present a student ID if you’re a minor. Make sure your IDs are original and within their period of validity — not expired.
Want to know which other banks you can open an account with? Here are the top banks with the lowest initial deposit in Philippines.
Do you know about SeaBank Philippines digital bank? Here’s a review of Shopee’s partner bank, SeaBank.
Your Adulting + Travel Accomplice,
Live Free With Lianne