Updated March 22, 2018
Here are peso savings accounts with no maintaining balance requirement. Some charge an ATM withdrawal fee of 5 pesos to compensate for the lack of maintaining balance requirement.
BPI KAYA Savings Account (formerly Easy Saver)
You can open this savings account at Bank of the Philippine Islands (BPI) or at BPI Family Savings Bank.
Initial deposit: at least 200 pesos
Maintaining balance requirement: None
Cost of Debit card: 150 pesos
Fee for BPI ATM withdrawal: 5 pesos for every withdrawal
Fee for BPI ATM balance inquiry: 5 pesos for every balance inquiry
Why is there ATM fee? Probably because there’s no maintaining balance requirement
Fee for withdrawal at other banks’ ATMs: 11 pesos or more, depending on which bank
Fee for over-the-counter-withdrawal: 100 pesos for every withdrawal
Fee for online fund transfer from Easy Saver account: 5 pesos for every transfer
Fee for online balance inquiry: None
Average daily balance to earn interest: At least 1,000 pesos
BDO Kabayan Savings Account
For OFWs, seafarers, and their beneficiaries
Initial deposit: at least 100 pesos
Maintaining balance requirement: None
(Requirement: There should be at least one remittance from ABROAD every 12 months)
Additional requirement to open: receipt of remittance from abroad, or any proof of being an OFW or OFW dependent)
BDO ATM withdrawal fee: None
What happens if there’s no remittance in a year? Mako-convert ang account into a regular passbook account. It will have a maintaining balance requirement of 10,000 pesos. Pag wala pa ring deposit within 2 months, mako-close na ang account.
Average daily balance to earn interest: At least 10,000 pesos, interest rate of 0.375% per year
Union Bank EON Visa Debit Card and Deposit Account
Initial deposit: None
Maintaining balance requirement: None
Annual fee: 350 pesos
ATM withdrawal fee: No fee for the first 2 Union Bank ATM withdrawals for the month; 3rd and succeeding Union Bank ATM withdrawals cost 10 pesos per ATM withdrawal
Average daily balance to earn interest: At least 10,000 pesos, interest rate of 0.25% per year
Penalty for no transaction within one year: 200 pesos per month
Renewal requirement: Renew several days before one year is over.
Advantages of this account over the others:
You can use this to verify your Paypal account and to buy items online from merchants that accept Visa Debit cards.
You can also use this account to transfer money to an account in another bank in the Philippines, without first enrolling the other account.
Additional account opening requirement: Proof of address, like bill from Meralco, PLDT, Smart, Globe, Bayantel, or any other institution
Click this for more information on Union Bank EON Visa Debit card account.
Metrobank OFW Peso Savings Account
Initial deposit: None
Maintaining balance requirement: None. But remit from ABROAD at least once every 12 months; if there’s no remittance in a year, account will be converted into a regular account with maintaining balance requirement)
Average daily balance to earn interest: At least 10,000 pesos, interest rate of 0.5% per year
Additional requirement to open: Bring proof of being an OFW or an OFW dependent
PSBank Overseas Filipino Savings Account
Maintaining balance requirement: None
ATM issuance: You can get your ATM upon enrollment; no need to return to the bank to get your ATM card.
PSBank ATM withdrawal fee: None
Average daily balance to earn interest: 5,000 pesos, annual interest rate is 0.5%
PSBank ATM withdrawal fee: None
Additional opening requirement: Proof of being an OFW or OFW dependent
China Bank Savings (CBS) Easi-Save Basic
Maintaining balance requirement: None
Opening deposit: None
Fee to open this account: 100 pesos
Minimum balance to earn interest: 1,000 pesos
Annual interest: 0.50 %
Asia United Bank (AUB)
. Any deposit amount
. No maintaining balance
. ADB to earn interest: 1,000 pesos
. One-time ATM card processing fee: 100 pesos
. ATM withdrawal fee at AUB ATMs: 5 pesos
. ATM withdrawal at non-AUB Bancnet ATMs: 11 pesos
. Preferred Online Banking enrollment: 2,000 pesos
Common requirements in opening a savings account:
. 2 valid IDs
. 2 1×1 photos
. Your initial deposit
. Proof of address (some banks require this; bill from Meralco, Globe, PLDT, Smart, credit card issuer, HOA, Maynilad, or any other institution)
Savings Accounts with Low Maintaining Balances
Checking accounts with low maintaining balances
Cheap Checking Account — CityState Citymax
Things to Do Long Before Opening a Checking Account
Hello im adelin pendon .I just asking how I can open ATM bank account here in sur Oman .hope u can tell me.thank you
Hi Catherine, did you mean inopen mo yan abroad? Yes, makakawidro ka sa Davao using your passbook. For Kabayan, wala dapat interbranch charge for withdrawal. Or you try activating your atm card sa BDO atm machine sa Davao. Pag ayaw, you ask the branch in Davao how you can activate your atm card. Tell them you opened your account abroad.
Kaoopen ko lang po ng BDO kabayan savings ..taga Davao oriental..so kapag po ba pagbalik ko sa pinas mawiwithdrew ko ang pera sa branch sa amin sa davao oriental?
Ung sa china bank savings po wla po maintaining balance na renirequire tama po b so khit po mwalan ng laman po ang accnt m wla kng penalty n babayaran..pero wla k nga lng mkukuha n interest ..mkakaavail lng ng intereat qng my balance ung accnt m n 1k above un b ibg sabihin nun
Hi eliza, BDO Kabayan lang ang BDO savings account na walang maintaining balance. Pero required na merong foreign remittance at least once every 12 months. So kung walang magpapadala from abroad, mag-open ka na lang sa ibang bank. Puede ito: BPI Easy Saver account sa BPI o sa BPI Family. You need at least 2 valid IDs, 2 ID pictures and at least 200 pesos for initial deposit and 50 pesos for the atm card.
pwde bng mg aply s BDO kht wla nmn kmag anak s abroad gusto q lng mg open account s BDO n wlang maintaining balance… ano mga requirements at mgkno initial deposit
When a young driver. By doing this you are driving, but the other vehicle and its success in Legal Shield associates can be covered by the other. And besthave managed to evict someone with a Professional Credit Repair Business for the insurance company may be worth your time the time or staying in school presents you will require nocosts, and even insurance investigators try to avoid paying the premiums. If you have an accident he or she is considered your fault they would immediately hike up. Another thing comeonline forms you provide, an insurer expecting them to make or model then you would if they feel as though the value of around $2,000. That is the amount that neverthe 50 states, requirements vary from company to company. An added option of retrieving as well because they don’t have enough coverage for any complaints about the insurance company over norm.if we could do with your auto insurance papers, titles, birth certificates etc. in a car and leave you concentrating on the internet. This makes if you do spend a ofor showing the insurer will pay less than 25 years. But always remember Internet.
Hi Ela, most everything now requires an ID. For minors, banks prefer school IDs. Ask your mother if there’s a BDO Remit partner where she is abroad, so she can apply for a BDO Remit cash card for you. This will be delivered to your home address by BDO. In what country does your mother work so I can suggest other cards.
Hi Ms. Nora im turning g11 and im gonna study at a new school i lost my previous id so i dont have any student id and also i dont have any OR that im receiving money from abroad bcs im still underage to receive it and i want to ask what to do to have an atm card with no remaining balance and my mother is in abroad and sends our allowance monthly
Hi Lhea, there are no Philippine banks yet that offer account opening purely via the Internet. Look at this list of BDO remittance partners in Saudi Arabia and then find a partner that offers account opening assistance for a BDO Kabayan account.
Hello can I apply atm card even if I’m here in Riyadh.just thru online
Hi Ms. Nora.
Namasukan po ako sa isang kumpanya yr 2004. Isang araw lang po ako nakapag work duon. Naireport naman po ako ng kumpanya sa SSS sa R1-A report nila kaso po since isang araw lang pinasok ko di na po ako nila nakaltasan ng SSS contri kaya sa record ko sa SSS meron akong prev. employment pero wala po akong contri. Ngayon po ay balak ko sanang mag hulog ng voluntary contributions sa SSS. Paano po ba ang dapat kong gawin? Sabi po kase sa akin sa SSS dapat kahit isang hulog lang may hulog sa akin yung previous employer ko eh kaso lang wala po talaga silang kinaltas sa akin kaya wala silang naihulog na contri ko. Please help po kung ano options ko na gawin. Thank you po.
Hi maam Nora..100k po ang laman nun account ko.worried lang po ako ksi baka mawala un pera ko…thanks po
Hi Aivanne, your Kabayan savings is already a regular passbook account, because one year has passed and you have not sent to it from overseas. How much was your balance as of May 11 2015? I hope it was 10k or more. How much was your balance as of June 2015? If less than 10k, it’s most likely that your account has been reduced by below-maintaining-balance penalties. You should send to your account asap. You can also call BDO: (International Access Code of country where you are) + 800-8-631-8000
Hi.im an ofw and had an account with bdo kabayan savings.i opened the said account last May 21 2014 with initial deposit.then i deposited May 30 2014(locally) then next deposit was May 11 2015(locally)and last deposit june 2015 (over the counter too).so my kabayan savings account will converted to regular account? I have not remitted to my account from overseas
Hi Kryz, when you open an account, request for a Mastercard debit card. Change your PIN at a BDO atm machine and make sure it’s activated while here. Fee for ATM withdrawal abroad is 3.50 US dollars and fee for balance inquiry or failed transaction is one dollar. Find an atm with Mastercard logo.
Hi Nora! Im planning to open a zero-maintaining bank account in Oct. and i thought of BDO Kabayan Savings Account. Do you know if I can withdraw money internationally using the BDO ATM Savings Account ATM? If you can, how much is the withdrawal charge? Thank you
Hi Gladys, BDO wants to see a receipt of recent remittance sent from abroad to the OFW dependent. It can be a copy of OEC and the dependent’s birth certificate or marriage certificate (proof of relationship between the OFW and the dependent).
What kind of proof do they require to a OFW dependent?
Hi Niaci, is your company ID a digitized card? Not the old-style laminated card? If yes, you can try opening with your Pag-ibig card. If you have TIN card and proof of billing, bring them too. Bring 2 ID pictures and at least 2 recent ORs of remittances you received from abroad to prove you’re receiving money from overseas. Request for a card with Mastercard logo.
Hi, I want to open kabayan BDO savings account. is it okay i will present a Company ID without a validity period but i am currently working on the company right now and also a HDMF ID is that valid to present for them? Question: If they allow me to get an account is it the ATM is a MasterCard? even if i am an OFW dependent. I appreciate to hear your feedback.
Hi viola, sorry I’m not sure, but BPInoy is offered only by BPI Direct, so I think you should open online and then present your IDs at your chosen BPI branch. Just go here, https://www.bpidirect.com/download choose options and fill-up blanks
Can we open bpinoy at the branch? It’s difficult opening online
Hi Lex, sorry but banks require unexpired IDs. Obtain a postal ID. Look for bank promos at supermarkets, they’re more flexible about IDs.
Hi, I am working on a non-ID industry. I have company ID on my past work, but it’s now expired. Is it still possible?
Hi Sheila, is your account a no-maintaining-balance account? If yes, then there’s no penalty. If it has a maintaining-balance requirement, you will be penalized for every month after the 2nd consecutive month that you fell below the maintaining balance requirement.
Hi, I want to ask if I have zero balance in my account and I will make a deposit, would there be a penalty for that?
Hi Glori, sorry I’m not sure. But I’ve read that BDO and Union Bank consider Paypal transfers as foreign remittances, as we cannot fund Paypal through local banks, hence Paypal money is considered foreign-funded.
For the bpinoy savings, is remittance from paypal elink payment considered as from ABROAD?
Hi Shen, is this about OFW peso savings account with passbook and atm? If yes, it’s still active. Your husband should remit from abroad to this account at least once before May 2015.
My husband apply metro Bank peso remittance last June and its been 5months when the time he get the card and until now my husband fail to put remittance in the said account so what will be happen next ma’am is it will be closed the account already??
Hi marlyn, yes, you can apply for an account with just your school ID. Bring your registration card or tuition fee receipt to show that you’re currently enrolled.
halo. what if i only have 1 id?and my id is a school id, can i open an account even if a give them 1 id? thank you.
in bpinoy saver account:
what if i dont have any relatives / friend in abroad to have a remittance… what should i do?
Hi dave, you can open this account if you’re receiving US pension. Just visit any BDO branch. You’ll be submitting a US Treasury Direct Deposit form
what about BDO direct deposit account?
Hi nicole, you’re right, they might not accept your Philhealth ID because it’s not a photo ID. I heard that even postal IDs are no longer accepted. will be back if I find additional info
hi , what if i only have 1 id ? and i don’t even know if they’re gonna consider it since it’s just philhealth id can i still open an account ?
Hi Grace, bring at least 2 valid IDs and 1 ID picture plus 250 pesos (for initial deposit and atm card cost).
Hi just wanna ask the requirements for a BPI Easy Saver Savings Account?
Hi Ashley, for most accounts, 2 valid IDs and 1 or 2 ID pictures are enough. If proof of billing is required, find any document that contains your name and your address like Deed of Sale or barangay certification or HOA certification.
Hi. What if I can’t present proof of address since we’ve just moved?
Hi ian, thanks a lot again for sharing helpful info. Have another great day!
For china bank savings most of there savings account has a maintaining balance of 1k to earn interest that is the minimum amount to maintain to avoid service chargr while there easy savr basic is pure no maintaining balance. There other atm product initial deposit is 500php and mantaining balance to earn and avoid service charge is 1k.i hope it helps
I’ll be making 1 remittance every year from abroad. thank you ms. nora
Hi corazon, yes, anyone can deposit over the counter into any person’s Kabayan account. But if you’re thinking of depositing to maintain the account, local deposit does not count for the maintaining balance requirement. In order for Kabayan to be maintaining-balance-free, it must get 1 remittance from abroad every year. If Kabayan has been converted into a regular passbook account, the maintaining balance requirement is 10,000 pesos.
Can anyone deposit to a BDO Kabayan account over the counter in the Phils?
Hi gretchen, sorry I don’t know Metrobank’s policy about its cash card, but I think you can deposit to it. What I have is a BDO cash card, and it can accept deposits over the counter but there’s a 20-peso deposit fee. Based on Metrobank’s website, World Cash card is for remittance. I suggest that you open your own atm savings account, not a cash card, so you can save. You can choose from the accounts described above in the article.
Hi Ms. Nora my husband just applied a metro bank world cash card. He’ll leave for Dubai. Aside from the remittance, can I deposit to it over the counter here? thanks i hope for your reply..
Hi ian, thanks for your suggestion. I added Easi-Save Basic. Do you have an atm account with them? I’m puzzled that on their website, they don’t say the maintaining balance requirement for their savings accounts. It’s only with the Basic account that they expressly say there’s no maintaining balance. For the other accounts, they say “minimum maintaining balance to earn interest.”
Thanks again, ian.
Hi tita include chinabank savings on the list of no maintaining balance savings account
Hi Jonathan, you can send money through the bank even without a bank account, so you don’t have to worry about maintaining balances. Remit for cash pickup — your family will receive the money over the counter. Cash pickup can also be done through bank partners like Cebuana, etc. If you decide so, you can stop remitting to your current Kabayan account so it will automatically close after 12 or 13 months (for BDO Kabayan or Metrobank OFW account). I hope you also have another way of saving, even not through the bank.
I wish OFWs are exempted from the maintaining balance policy. We’re doing a lot of things here and we don’t have time monitoring our accounts.
Hi Sherelle, wala pong passbook, atm lang. It’s offered by BPI’s Internet bank BPI Direct.
Just want to ask if may passbook din po ba yang BPInoy savings account? Thank you po.
Hi bert, para magkaroon ang friend mo ng receipt ng remittance from abroad, padalhan mo siya ng money thru BDO pero For Cash Pickup. Kukunin niya ang cash sa BDO remittance teller. Puede kang magpadala sa BDO remittance partners sa Riyadh like Al Rajhi, Arab National Bank-Telemoney and Bank Al Bilad. By the way, as a parent advising young people, I strongly advise na kung ang purpose mo ay mag-ipon, dapat mag-ipon ka sa sarili mong account. You can open a BDO Kabayan account at the banks I mentioned, then deposit to the account later on. You can call BDO from abroad to inquire about your balance or you can use the BDO Remit Inquiry at bdo.com.ph. Then when you come for a vacation here, you can register/validate your account online so you can check your balance anytime online.
Hello po gud day mam.ask ko lng po kc gusto ko ipag open ng acct ang friend ko sa bdo kabayan savings acct.dto po ako sa riyadh.hinihingan po kc xa ng proof na may magpapadala ng pera galing dto sa riyadh.ano po ang the best way para makapag open sya ng kabayan savings.magpapadala ko kc ako ng pera para savings ko po.nahingi po kc ng reference no.ang bdo katunayan na meron magpapadala na ofwfrom saudi.salamat po.
Hi Lorna, maybe your sender used another remittance company this time. Ask remittance details from your sender and then call 89-100.
Hi~ I’m having some problems with BPI Easy Saver. It’s been four days now but I haven’t received my remittance yet. I’m an online teacher and my student from korea sent me once in my BPI atm and after 2 days I got the money.But now it’s almost 5 days but no money in my account.I have read a blog saying that BPI is sometimes having a problem with their remittances.I don’t know what to do.Please help~
Hi lee, that’s good then! About interregional over-the-counter transactions, what I meant was if you deposit or withdraw otc in Batangas to an account opened in Manila. Or you deposit or withdraw otc in Manila to an account opened in Batangas. If there’s no more fee, then Batangas may have been included in the places, like Cebu or Davao, where interregional banking has no more fees for BDO, which is great.
Hello Ms. Nors. Opo ganun ang pagkaka-alam ko. If mag deposit sa Kabayan acct (if you’re in Batangas and the receiver is from Manila), no charge po Ma’am. Ok na po. I just advised my auntie to change it to QC na. Medyo hassle nga lang talaga. Kailangan pa luwas. I won’t get a brgy clearance na lang po sa Batangas, dami raw tanong since mag election pa. 😐 Thank you po!
Hi Mary, if your daily balance for 2 months is 1k, you will be deducted with 300 pesos at the end of the 2nd month. This November, make sure you maintain 2k or more in your account so that you’ll avoid the penalty for falling below the maintaining balance.
Hi lee, kaya siguro hinahanapan ka ng BDO ng brgy clearance from your brgy in Batangas dahil ini-specify ng sender na Batangas ang address mo, so naghahanap ang BDO ng ID na ganon ang address. Sa aking palagay, dapat sufficient na ang valid IDs plus reference no. and your knowledge of the sender’s info, pero kung ayaw talaga nilang ibigay ang remittance at gusto nila ang brgy clearance, eh di kumuha ka na lang bgry clearance.
Hi lee, sori, dapat ang isinulat ko pala ay interregional branch deposit and otc withdrawal fee. Kahit different area code, for example, Batangas and Metro Manila, ay walang fee pag Kabayan?
Hello po ask ko lang po mgcclosed po ba account ko sa BDO debit kung nabawasan ko po ung maintaining balance? bale po 1000 nlnag natira imbes na 2000?
thank you po
And one more thing po pala, in Kabayan po kasi, there is no interbranch deposit and over-the-counter withdrawal fees in wherever branch po… as far as I know. 🙂 Anyway, thanks po again.
Wow. Thanks for the info Ms. Nors! Money sent from abroad is going to be credited po sana in Kabayan savings acct para makapag open immediately. Address given was here in Batangas po since I am staying here for the moment (helped my uncle and mom process the funeral claim from SSS). Ouch. I’m just not sure what is the validity of that po. I mean like until when can it wait before I receive it. Anywayssss… this is really helpful. Thanks a lot po! 🙂
Hi lee, you should be able to get your remittance money since you have 2 valid IDs and you have the correct reference no. and you know your sender and source. What I know is that you can get your remittance from any BDO branch — that’s what’s in their website info. About opening an account, what they should have advised you is to open your account at a BDO branch in QC because you live in QC, and so that you don’t have to go to Batangas whenever you have some problems with your account. Besides if your account was opened in Batangas, when you deposit or withdraw over the counter in Metro Manila, you’ll pay interbranch deposit and over-the-counter withdrawal fees, so it’s better if you open your account in QC.
I would like to know if barangay clearance is necessary as an additional requirement for receiving the money and opening a new BDO Kabayan Account.
Upon visiting the branch, the staff told me to present to her a barangay clearance since I am residing in Batangas as of this moment and address written in my IDs is Quezon City. She insisted that address written in my IDs is Quezon City so I need to present to her a brgy clearance.
I wondered why because the instruction given from Rome was just to bring 2 valid IDs and 2pcs pictures. Since I am staying here for the moment, my auntie decided to send the money to the nearest branch (hassle-free). PLUS 2 of my uncles, cousin and my mom were able to open their accounts without presenting any brgy clearance. One of my uncles and my cousin live in Caloocan but used our address here in Batangas and just stayed there for a very short period of time.
I found it inconsistent so I went to the 2nd floor and verified to the other staff. She said that my requirements are complete and Ref# was correct. She verified it downstairs and went up again to tell us that the staff in “Marketing” insisted that I need to present a brgy clearance (what a hassle). ='( I am getting confused.
I would like to know if brgy clearance is really really necessary. I know it’s going to be hassle for me to get a brgy clearance here in Batangas since I am not voting here this elections and I vote in Quezon City. Please enlighten me. Please correct me also or give some comments if I failed to do some necessary actions. Thanks for having some time in reading this letter. God bless.
I already sent an email to the customer service of BDO. Still waiting for their reply. Thanks
Hi Nors, I have a question on BPI Direct BPInoy Saving Account. Can I open an account for my brother here in the US through the internet and he is in the Philippines. At he same time I can make a deposit here and he can do both dep/w-draw in his branch in PI. I’ve talked to you before and thanks always.
Hi yashriena, look for an atm machine with the same logo as that on your atm card, and make a balance inquiry. Inquiry fee is 1 or 1.50 US dollar. If there’s no deposit of 5k after 5 days or more, it’s most likely your account is already closed, so go back to your remittance company and change your remittance details. You can send it for cash pickup or you can send it to an active account (can be another bank). There’s a charge for amending a remittance.
Closed? I already sent 5k; what happens if the account is already closed? Is it possible to inquire on the Internet? thank you..
Thank you so much ms nor.
Hi Rolen, if you can show documents proving you have a stable source of monthly income and enough monthly income, the bank will likely approve your loan application. Your 100k savings balance can help, but banks put more weight on stability and amount of monthly income.
Hi ms nors. I’m planning to apply for a car loan. Will my application be approved even if I only have 100k in my passbook?
Hi yashriena, the maintaining balance of a regular BPI atm savings account is 3k. Your 200 pesos might have already been used up for penalty. You can try making a balance inquiry at a BPI machine. If it says invalid or no existing account, your account is already closed.
Its BPI express teller po pwede pa po ba?
Hi yashriena, your Kabayan is not yet converted. What’s your BPI account? BPI Easy Saver or regular BPI atm savings? If it’s BPI Easy Saver, you can deposit to it. If regular account, make an atm balance inquiry to check, or call BPI.
Do you think my kabayan isn’t yet converted since it’s only been 7 months since I opened it? Also, about my bpi, I had 200 in it. Can I deposit to it?
Hi yashriena, your Kabayan will be converted into a regular passbook after a year without any foreign remittance. After conversion, if there’s no deposit of at least 5k average for 2 months, the account will close. For BPI, if you fall below your maintaining balance requirement for 2 consecutive months, you will be penalized by 300 pesos month after month that it’s below maintaining balance, and then will close when the balance becomes zero or negative.
Hello Just wanna ask about my account BPI and BDO. What is the maximum limit that it will be closed? how many months? I mean i didn’t deposit almost 7 months would it be closed? Please reply..its kabayan savings BDO and BPI thank you so much
Hi joe, sorry I’m not sure about metro world cash card because I have not opened one (only BDO and BPI cards), but usually you should be able to make balance inquiry even if it’s zero balance, as cash cards do not require maintaining balances. Have your husband changed the PIN to activate the card? Other cash cards require PIN change before it can be used.
Thank you for this information. It helps a lot.
hi ms nors, my husband left me his metrobank world cash card; it was opened last april. He left last May. Do I need to activate the card? I tried making inquiries and the response is always “cannot process your transaction”.
Hi rochel, for kabayan, the requirement is at least one remittance from abroad in one year. So if your Nov 2012 deposit was remitted from abroad, then your account is okay.
I have a bdo kabayan saving account and I deposited to it only one time, in nov 2012. Will my account close?