If you’re looking for the cheapest checking account in the Philippines, check out the
Citymax checking account offered by Citystate Savings Bank. The initial deposit is only 1,500 pesos and the maintaining balance is only 1,500 pesos. I’ve been using this account for about four years already.
I discovered Citystate checking through a businesswoman-friend when my checking account with a big bank was closed during my most difficult year, and I had to open another checking account quickly. You know, of course, that the bigger banks don’t easily allow you to open a checking account with them if you don’t have a longer and high-amount account history with them.
The advantages of Citystate’s Citymax, aside from being the cheapest checking account in the Philippines are the following:
- Only 1,500 pesos to open and to maintain
- One-in-three account: It’s a checking account, it’s a savings account, and it earns interest as long as you have at least 1,500 pesos in average daily balance.
- You get an ATM card and a passbook
- No interbranch transaction fees
- You can pay your credit card bills, utility bills, insurance premiums through the Bancnet ATM system.
- You can check your balance through Citystate’s online banking system.
- You can reorder checks through the ATM system.
- Just like other savings and checking accounts, your CityMax deposits up to 500,000 pesos are insured with PDIC.
Citystate Savings is one of the 74 savings banks in the Philippines.
As of June last year, it has 2.47 billion in total assets and 771.41 million in stockholders’ equity.It has 24 branches. Contact numbers: 637-8397 to 98; 637-4189; 636-3333; 637-8743; 470-3333; 706-5860; 706-5849
CORRECTION: First week of this June 2011, I learned that there may be more than one branch that DO NOT allow immediate opening of checking accounts. One is the Malate branch. Someone who applied for a checking account at this branch was told that she needed to maintain a savings account for at least six months first before she can open a checking account.
It was at the Muntinlupa branch (along the National Road, near the Muntinlupa Doctor Hospital) where I opened my account. I hope the branch is still approving applications immediately without the six-month requirement.
Other Banks’ Checking Accounts with Low Maintaining Balance Requirements
Opening a Checking Account in the Philippines — Lay the Groundwork
Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks
List of Banks in the Philippines — Universal Banks, Commercial Banks
If you are looking for checking account, I can refer you to a PSBank with 5,000 MAINTAINING balance. Just send me a message through 0917 6577890.
Hi anthony, thank you very much! You’re so nice. I’m glad you’re on the final stage of your application. Maganda rin sigurong ipakita yong NOA mo sa bank, kasi kung meron ka nang NOA, that means your source of income is stable. I hope you finally get your checking account, and I hope, when you have time, you can share with us which bank finally gave you a checking account. God bless too!
Hi Miss Nora, actually po approved na yung loan ko, complete n rin po yung requirements from my NOA and I’m on the final stage. I just need to issue 12 post dated checks to pagibig before they’ll issue a check sa seller nung bahay, mejo naiinip n po kc ung seller ng bahay and nahihiya po ako sa delay. I will call citystate and check the list of the rural banks po. Thank you po talaga sa advise and support nyo sa akin, and please do not feel bad Ms Nora you’ve never done anything wrong. I’ll will go ahead and try all my options! God Bless po!!!
Hi Anthony, I’m so sad that your request was rejected by Pag-ibig. I advised that because I saw the checking account requirement of Laguna Prestige Bank for Pag-ibig housing loan — it says “For Housing Purposes: Letter from the Developer approved by Pag-ibig,” so I thought Pag-ibig is also giving referrals. But I advised that with the thought that your loan application was already initially approved by Pag-ibig. I’m very sorry that I gave you false hopes. You appreciated my effort so much, but I failed in that part. But thank you that you are a very understanding person.
Since you cannot get a referral, try applying just by your company ID and other valid IDs. Kasi meron namang nakaka-open kahit walang referral. Nagpunta ka na ba sa CityState? Or try mo kaya itong rural bank na Luzon Development Bank? Here’s a list of rural banks offering checking accounts.
By the way, have you started your loan application with Pag-ibig? Is the initial stage of your application already approved?
I just receive pagibig’s reply this afternoon in regard to my request to obtain a referral to open a checking account. Unfortunately pagibig does not give referrals to any member for opening a check account. Despite explaining my situation to them, of buying the property from someone & not from a housing developer. Is there any other possible way to work around this? Thank you for accomodating my questions, I really appreciate any othrer suggestions you might have to bring light to this matter. Thank you for your kind assistance.
Thank you po ng marami Miss Nora, akala ko po kc I can only acquire a referral from a developer not knowing that Pagibig can issue one to me. I will send Pagibig an email and visit their main office in Shaw Blvd right away. I really appreciate your advise!!! I’m really, really happy and can now have a peace of mind! Your website is really helpful to people in dire need of help and cannot find a helping hand nor advise! I wish you great health and more power so you can help more people like me!!! I will definitely share this to a lot of people sharing the same dilemma and finally, I wish God bless you as you are a blessing to others. Thank you po!!!
Hi Anthony, it seems your loan application is about to be approved by Pag-ibig. Have you tried asking for a referral from Pag-ibig so you can open a checking account? Are you buying a property from a developer? You don’t need to know anyone in the real estate company; you can request for a referral from them. There are banks that will issue a checking account even without an existing account or referral; just keep on looking and asking. Bring your IDs. Present yourself as confident but humble, and someone with a stable source of income. Try EastWest Festival Mall. Ask about their Basic Checking (1,000 maintaining balance). Or Optimum Bank StarMall (Regular Current Account – 3k maintaining Balance). Ask ka lang. You’ll learn a lot even if rejected. CityState along National Road (meron silang 1,500; pero mas ino-offer nila yong 5k maintaining balance). Hope you can share your experience here later on.
Ang strict talaga are those big banks like BDO and BPI because they can afford to choose clients.
Hi Miss Nora,
I’m Anthony Flores, who urgently need a checking account for my pag-ibig housing loan to issue PDC, but I don’t have an existing account with any bank. I’ve inquire with PBB but they require a referral from either a client or developer, before they allow me to open a checking account. Is there any way that I can open a checking account without a referral? I don’t know anyone in particular banking with PBB nor working for a developer. Can kindly give any suggestion to help me with my situation. Thank you kindly!!!
Hi Ariel, nakapag-down payment ka na ba sa NHMFC? Puede mong tanungin if they can give you a referral for opening a checking account. Usually mga big banks ang very strict in issuing checking accounts, so you try the smaller banks (savings banks and some rural banks). Kung ayaw sa isa, don’t get discouraged, punta ka sa susunod until you find one. Explain well why you need a checking account and that you are able to maintain your account and fund your checks.
I need a checking account ASAP but most of the banks are 6 months before you could have a valid checking account. Can you help me? I need it for a housing loan with NHMFC. Any nearest branck to Marilao would be fine
Thank you nors. I’ll call them tomorrow to check. Thanks for the big help! 🙂
Hi Donato, it was easier before in Citystate’s Muntinlupa branch because it was newly opened then. But now they insist on offering the 5,000-peso maintaining account. Try the Paco branch. I know someone who opened an account there last year. Look at the list here of savings banks, then see what’s near your work or residence, then google their websites.
About the 6-month savings-account requirement: this is not mandatory. Present yourself as someone who can handle a checking account. It also helps if you work in a good company or a stable source of income.
Hi! I badly need a checking account. I will be needing it for pagibig house loan. According to the CityState Savings on their website, only 1,500 is needed for maintaining and opening an account. Based on your own experience, in which branch is it easier to open? Do they require 6 months savings with them? Thank you for the reply.
pero pwd po b sa citystate magopen ng citymax nila kahit wla kng savings sa kanila
Hi mary faith, yes, you try applying. Bring your IDs. If they see that you’ll be able to maintain a checking account, they will grant you one. It might be easier if you apply for the account with 5,000 maintaining balance. Be ready to answer about your purpose in opening a checking account and your source of income.
hi po can we open at citystate a checking account even without a savings account? at del monte branch?
Unionbank’s checking account opening requirement seems reasonable at P35,000.
Hi i.would like to inquire if citystate bank here in baliuag allow to open a checking accoubt w/o 6mos requirements i need.it badly for my pag ibig loan thanks
hi inquire ko po yong tel number ninyo sa cagayan de oro branch..thanks po
Hi ella, try smaller savings banks. Try asking any savings bank that you pass by on your way to work. Not the bigger ones because they’re strict now. Try Optimum Bank at Starmall Alabang or Shaw/Edsa, or RCBC Savings Bank (Lite checking account).
Hi miss nora which branch of city state bank can i open quickly a checking account without waiting for 6 six months? Can you suggest other banks?
alright! thanks for the info anyway!:)
Hi jo, sorry I’m not sure now, but some Citystate branches are stricter than other branches and certain branches are promoting the 5k checking account and de-emphasizing the cheaper account. I think that PBB 2k account is already good despite not giving interest, as deposit interest rates today have become negligible. Have a good day too
hello! may i ask if citystate bank still offer that amount in opening a checking account? Because i went to citystate bank las pinas branch and yet the teller said it is 5000 and should have a savings account for 6 months. So, i go with the philippine business bank 2000 with NO INTEREST. I must say “sayang!” because citystate bank offered as lowest as 1500 with INTEREST as you have said in your blog. have a good day:)
Hi Aileen, yes, you should be able to avail in July, following the 3-of-6-months rule. But some hospitals are sigurista. To be sure, if you’re near a Bayad Center or SM Business Center, pay Apr May June now, before they close today, since this is the last day you can pay the 2nd quarter.
Hi, Ms. Nora.. Magpapa-schedule na poh kasi ako ng confinement sa hospital this coming July or August para magpa-opera..Kaso poh 1st quarter lang ng year 2014 ang nabayaran koh..Hindi poh ako nakabayad ng contributions koh for this month of April to June 2014…Pano poh ba yun?Maa-avail koh pa rin poh ba yung benefits ng Philhealth?Pls. reply..Thanks!
Pwede ko na poh bang magamit sa hospital ang Philheath ko kahit 1st quarter of this year 2014 lang ang nabayaran ko?Magpapa-opera po kasi ako this coming July or August 2014…
Hi jennylyn, try mo nga yong branch nila sa Paco. Pero try mo pa rin the branch nearest you. Basta naman you’re able to show that you’re responsible, able to explain why you need a checking account, and how you’re going to fund your account.
Hi, I badly need to open a checking account and i dont have any savings account in any bank. Alam nyo po ba kung anong specific branch ng citystate pwedeng mag open without having a savings account?
Hi Tin-tin, sori wala pa sa Nueva Ecija. Find another savings bank or rural bank in your area.
Hello po Nors. Ask ko po kung yung CityState ay meron ba sa nueva ecija? Meron po ba sa Cabanatuan city?
Hi Jennyvie, here you can copy Landbank’s requirements for checking account opening: https://www.landbank.com/prodDepProd_regCurrent.asp If you want to know other banks’ requirements, just visit their websites. Banks have similar requirements.
what are your requirement to open an account of
-joint accouny (AND account)(AND/OR account)
-single proprietor with additional signatory
-clubs and organization
*for school purposes*
Hi mae, based on previous comments, the ones that are likely to allow you to open your checking account without previously being a client are CityState, RCBC Savings, and the smaller savings banks. Here are rankings of savings banks.
I need to open a checking account because it’s one of the requirements for pag ibig housing loan, I need it right now so i can move in to my new house after a month. I tried to inquire with PS Bank but as per them i need to have an account with them and i need to wait for 6 months before they can approved me for a checking account can you please give me a list of banks were i can open a checking account immediately without waiting for 6 months.
do citystate savings have a branch here in cavite or any near branch?
Hi Gel, look for CityState in Caloocan, or other smaller savings banks. Do you mean you need checks to pay a Pag-ibig developer? You can also ask for a checking account referral from the developer. Here’s a list of savings banks: http://www.banksphilippines.com/2011/04/list-of-73-savings-banks-in-philippines.html
I need to open new checking account because my existing account at B** requires me to maintain 6mos with minimium amount of 50k but I need it right now to release my check loan at pag-ibig fund because the seller need my payment. Kindly help me where did you get your check instantly/quickly. I’m from North Kalookan. Thank you!