Monday, 21 March 2011

Opening a Bank Account in the Philippines

It's been several years, since I opened my last bank account in the Philippines. By that time, I think it was in 1997, it was very easy, just a copy of the passport and an address which could even have been the address of the hotel you were staying at, was needed.
In the meantime I was informed that an ACR (Alien Certificate of Registration) was mandatory to open an account, which you had to get and pay for at an immigration office. Now this is no longer true. Just a few days ago, I opened up a new account with the BPI (Bank of the Philippine Islands) and this is what they asked for:
  • Copy of the passport (or driver licence or ACR)
  • 1 picture 1" x 1 "
  • Proof of billing for the address (Any official bill will do it: water bill, telephone bill and it does not need to be on you name. Only the address is important)
This was for a Peso Savings Account with ATM Card at the BPI. Other banks may ask different papers.

2 comments:

Matt said...

Caution note here though is that you WILL NOT receive your bank card for around 2 weeks and at that time you pick it up and sign for it. Your pin number is activated when you put it in a machine.

Now why is this important? Because I know of several people having money stolen by bank employees signing for cards. So when openining an account PLEASE OPEN WITH MINIMUM BALANCE ONLY

Jon Pranzetti said...

Hello, I've heard that you need to have stayed in the Philippines for atleast 1 year before being eligible to apply for and ACR card. I'm currently living in Dipolog City.