Getting your atm

We all want to have our own bank account no matter how big or small our money is. Some my opt for a passbook while some want a passbook and an atm in one account for easy monitoring and convinience of withdrawing. Theres also the atm account it gives convinience and flexibility than a passbook. You can use your atm for purchasing, paying bills via the atm,online purchasing etc. But getting your atm card is not that easy it you have to wait for 3 days (minimum) for most banks and a whopping 7-10 days for other banks. You ask them why is it taking so long for you to get your atm. They will say that they have no embosser machine in inside the bank. Some banks prefer to print in bank thats why you have to go back and wait for several day. If your in a hurry why not generic atm but seldom wants to have a generic atm banks that issue generic atms are bdo and rcbc savings. But if you are a first time you want to have your name emboss on your first ever atm. We only have two banks that offers convenience of getting your card right away first is PSBank largest thrift bank member of metrobank group within minutes you have your atm with you even your prepaid mastercard right away then chinabank savings subsidiary of china bank take note that some branch of chinabank savings are the former branch of manila bank just like psbank you can get it right away no time wasted you have  it when you leave the bank and what good about it you can use it right away not like all the atm cards that you have to wait for 24hrs for activation. Come to think of it why cant bdo,bpi,metrobank or  any other bank do what psbank and chinabank savings did by offering a on the spot atm. They have the resources and capability to install embossing machine on all there branches. If banks will have this banking will truly be less huscle and convinient to all of us since were leaving in a fast pace life were every minute is important to us no matter what your statue maybe

Basic savings account

In this hard trying times maintaining a savings account is very difficult specially if your a student or a plain house wife. Opening a savings account maybe stressful to some most banks have a high initial deposit ranging from 1k to as high as 5k depending on the account wether atm or passbook some banks recquire 10k for passbook. Then you have to maintain huge amount to earn interest or for some banks to avoid monthly service fee. There are banks who offer low initial and maintaining balance. While there are two banks who introduce the no maintaining balance account for almost two years now. Now east west bank the newest universal bank in the country which was given a universal license by the BSP last March of this year has a new product called the basic savings account initial deposit is 100php can you believe it wow and whats more if you reach 500php youll earn interest not bad. All you need is 100php as a maintaining balance and 500php to earn .0025% per annum. Its truely a simple yet very affordable and easy to maintain. Ideal for students and ordinary individual who really on a thight budget. Other features of the account is a visa debit card, electronic statement, can use as point of sale even internet shopping. Do remember of the fees they impose on basic savings account withdrawal over the counter and fund transfer over the counter you have to pay 100php and for deposit free of charge. Transfering fund from your personal account going to your other account is free of charge. On line transfer is also free. It is truly a small begining with east west banks basic savings account now every one can have there own savings account

Happy plus vs SM tap n pay

Last year jolibee together with bpi lunch the tap n pay system in the country were in you can use the card to buy food on all jfcs company from jolibee to re ribbon and soon mang inasal (when will that be) for only 100php valid for 2yrs you can use it buy loading it with 100php up to 10000php. Whats good about this is you get a rebate of 2% of total purchase at any jfc stores nationwide. Last May happy plus card has lunch a survey about expanding the use of its happy plus card. The survey ask its members on where they want to use the card etc. Not to be out done by this is SM's tap n pay card replacing there e plus card which was lunch last year for its cinema business. Last June 10,2013 sm officially lunch its tap n pay card same function as the happy plus card but in the meantime you can use it on sm cinemas. Hopefully by september we can use it at all sm tenants n uv xpress taxis and if sm wins the bidding of mrt ticketing system tap n pay cardscan be use for riding mrt n lrt. Is int great to have this thing one card for all. If you think tap n pay system is not that new to us if my memory is correct way back 2006 mastercard together with bdo lunch an atm called pay pass even smart communication has a pay pass to for smart money unfortunately it didnt went well because of lack of interest at that time after 3 yrs you can see so many terminals of pay pass but the pay pass card of mastercard has banish. Now that the goverment is serious about this its time to have this tap n pay in our country other countries like singapore n hongkong are using this system and dotc envision this project like those two countries. All this tap n pay card has an expiry of 2 yrs for sm you can load it all sm outlet nation wide n for happy plus card at all jfc companies nationwide. Its good to have this but wouldnt it be better to make all atm tap n pay instead of having another card. But its a long way to go but soon we will have a taste of a first world payment system. Soon we might see other banks or business establishment lunching there own tap n pay card. 

Metrobank prepaid mastercard

Metrobank recently joined the bandwagon of banks issuing prepaid cards. Metrobank the second largest bank in the philippines in terms of assets among universal banks,loans and deposit and currently the largest capitalized bank in the philippines. The former no 1 lunch there cash card powered by master card. The pre paid card is valid for 3yrs. To avail of the card simply go to the nearest metrobank branch near you.

Recquirements:
1 valid id (any goverment issued ids)
If secondary ids like postal,voters, nbi etc present two ids of secondary ids
Photocopy it
Then pay 100 peso for the kit.
Then you can get your personalized card right away no need to wait for 3 days or more.

You can access your account via online and mobile banking through smart. Just enroll your prepaid card on smarts mobile banking just type MBT or MBTC. It can also accept fund from other bancnet banks subject to approval of bancnet members.
Recieve funds via online trough metrobank account free of charge.

Fees

Every top up you pay 25php regardless of the amount.
Withdrawal is free for metrobank atms and 11.50 to 15 to other banks atm
Balance inquiry 2.50 metrobanks atm frre of charge
For international withdrawal 3.50$
For international balance inquiry 1.50.
Point of sales free of charge.

Go to your nearest metrobank branch