BDO Kabayan Maintaining Balance
As of today, March 12, 2011, the maintaining balance for a BDO Kabayan savings account is ZERO. But you need to have at least one remittance per year.
What happens when one year passes and there’s no remittance?
I emailed BDO about this and here’s the reply:
After a year passes and the Kabayan account has not received any remittance, BDO will convert the account into a REGULAR passbook savings account. This account will now require an average daily maintaining balance of 5,000 pesos. This is with passbook, so it’s 5,000; the maintaining balance for the regular ATM savings account is 2,000 pesos.
If this converted account is not able to maintain the maintaining balance for two consecutive months, the account will automatically be debited with 300 pesos.
Note: Somebody commented here that his BDO Kabayan account was closed after 6 months of no remittance. So before you remit to your Kabayan account, ask your family to test your BDO account if it’s still active by making a Balance Inquiry at a BDO ATM. Or better, call the BDO call center and ask if your account is still active.
Monthly Average Maintaining Balances for Other BDO Accounts:
Peso Passbook Savings Account
(with or without ATM) — 5,000 pesos
Junior Savers Club – 100 pesos
Power Teens Club – 2,000 pesos
Smart Guarantor – 5,000 pesos
Peso ATM (without passbook) – 2,000 pesos
Regular Checking Account – 5,000 pesos
Dollar Savings Account – US$200
BDO Hotline: 631 8000
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