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Friday, June 22, 2012

East west bank respond

One of the banks that i emailed to bsp a few days has replied and they sent me a letter citing the BSP circular 608 that no TIN no processing of opening of bank accounts. It seems that people with no TIN number will excluded to have a savings account. For those potential depositors with no TIN number avoid EAST WEST BAnk, METROBANK and SECURITY BANK they are very particular with that specific recquirment. As of the moment im still waiting for the feedback coming from security bank and metrobank they have to communicate with me within 10 days as ordered by the Bangko Sentral ng Pilipinas

Wednesday, June 20, 2012

Quick respond from BSP

There are some problems encountered when we an ordinary individual open an account with some banks. Most common problems are ids which as a normal practice is we need 2 valid ids to open an account regardless if is an atm or a passbook. As we all know there are primary ids and secondary ids. Primary ids are ids issue by the goverment like passport licenses,company id , sss, gsis and others.secondary ids are postal ids,nbi clearance,police clearance,voters id,school id and other form of id. If you look at it they have no difference they are all ids bearing your name, basic info,signature and othere but not all.
When we present primary ids or one primary and one secondary id we can they will accept it.as for the difference of using primary ids to using secondary ids in opening of account. The difference is when you use primary ids are your allowed to deposit check even if you use one primary id and one secondary id you can still deposit check but if you present or use secondary ids you can only deposit cash meaning no checks i dont know why.

When you satisfiy there id recquirements they will ask you if you have a TIN number which i dont have one. Some banks will not allow you just like what i experience while some will allow you provided that you can present more recquirements like utility bill under your name,brgy clearance etc. Those banks who did not allow you will tell you that one of there recquirements in opening of accounts is TIN number so all you can do is look for banks that will allow you but there are branches who are very accomodating.
Because of this incident i have sent an email to BSP last june 01,2012 about banks who doesnt allow to open an account if you dont have a TIN number. To my suprise BSP has replied and endorse my problem to the banks three president.that namely metrobank,east west bank and security bank. Ordering them within 10 days to communicate with me directly and copy furnish bsp on the feed back and steps taken to resolve this.So far only east west bank has communicate with me regarding this problem.

Thursday, June 14, 2012

Low initial and maintaining balance for regular savings account

No maintaining balance
Bpi and bpi family bank
Pay 250php 200php initial deposit and 50php for the atm fee. 5php transaction fee every time you use the card. 1000php to earn interest
China bank savings account
100php charge for the atm get your card instantly 1000php to earn interest

100php initial and maitaning balance
East west bank 
basic savings account 
initial deposit is 100php and 500 to earn interest comes with an atm visa. The lowest initial and maintaining balance in the market today

500 initial and maintaining balance
Land bank of the philippines
500 initial deposit and 500 For maintaining balance
Security Bank
500 initial deposit and maintaining balance 2000 to earn interest
Security bank savings (subsidiary owned by security bank formerly premiere bank) 500 for atm
The Real Bank
500 for passbook
100 initial deposit and 500 maitaining balance for atm
China bank savings
500 initial deposit and 1000 maintaining balance
RCBC savings
500 initial deposit
BPI direct
500 initial and maintaining balance
*apply through online
Sterling bank of asia
Any amount but you need to maintain 2000php with in 3 months comes with atm and passbook
Bank of commerce
500 initial deposit
Equicom savings bank
500 initial deposit

1000 initial and maitaining balance

China bank
1000 for atm or passbook
Opens till 5:00pm mondays to saturday inside sm malls
5000php to earn interest
Philippine business bank
1000 for atm or passbook
BPI family bank
1000 initial depost
City state savings bank
1000 atm
GSIS bank
1000 initial deposit atm
Philippine veterans bank
1000 atm or pass book or both
Philtrust bank
1000 passbook

2000 initial deposit

Banco de oro
2000 initial and maintaining balance
Branch are open till 7pm mondays to sunday inside sm malls
Philippine savings bank (PSB)
2000 initial and maintaining balance
*get your atm instantly
Planters bank
2000 initial deposit and maintaining balance
Metrobank
2000 initial and maintaining balance
EastWest bank
2000 initial deposit
Robinsons Bank
2000 initial deposit

Bank recquirements on opening of account

The basic recquirements for opening of accounts are as follows

2 valid ids
Primary ids
Passport
SSS/GSIS id atm type
Company id
Credit card with picture
Drivers license
PRC or IBP license
TIN atm type

Secondary ids
Voters id
Postal id
Phil health id
NBI clearance
Police clearance
*note if your presenting secondary ids you need four coz 2 secondary ids is equivalent to 1primary id
*for secondary ids use for opening of account you are prohibited in depositing any checks purely cash deposits

Picture either 1x1 or 2x2 depending on the banks.
Utility bills
*meralco,pldt,skycable etc
For record purposes (some bank recquires one billing statement under your name)
If the bill is not under your name some banks my ask for a brgy clearance just like in Land Bank.

For students bring your birth certificate school id and your study load or proof that you are enrolled.