What You Need to Open a BDO Savings Account
BDO (Banco de Oro) is one of the largest banks in the Philippines. To open a savings account, you will need a valid government-issued ID, proof of address, and an initial deposit. The amount of the initial deposit depends on the type of account you choose — some accounts require as little as 1,000 PHP, while others ask for more.
You can open an account either in person at a BDO branch or online through BDO's digital banking platform. The in-person route is more common and takes about 30 minutes to an hour. The online route is faster but has more restrictions on account types and may require you to visit a branch later to complete verification.
BDO has branches in most cities and towns across the Philippines, as well as in several countries abroad. You can find the nearest branch on BDO's website or by calling their customer service line at 1-800-631-8000 (toll-free in the Philippines).
Key Takeaways
- You will need a valid government ID, proof of address, and an initial deposit amount that varies by account type.
- Opening an account in person at a BDO branch typically takes 30 minutes to an hour and is the most straightforward method.
- BDO also offers online account opening through their website, though some account types are only available in-branch.
- After opening your account, you will receive a passbook and ATM card, which you can use to manage your money immediately.
Opening an Account in Person at a BDO Branch
Visit any BDO branch during business hours with your required documents. Bring your original government-issued ID (passport, driver's license, national ID, or similar), a photocopy of that ID, and a document showing your current address — a utility bill, lease agreement, or bank statement dated within the last three months will work. You do not need to make an appointment; you can walk in and take a number.
Tell the teller or customer service representative that you want to open a savings account. They will ask you which type of account interests you — BDO offers several options, including the BDO Savings Account (the basic version), BDO Kabayan Savings Account (for overseas Filipinos), and BDO Optimum Savings Account (which offers higher interest rates but requires a larger minimum balance). Ask about the current minimum deposit and monthly maintenance fees for each type, as these can change.
The teller will have you fill out an account opening form and verify your information. You will then make your initial deposit — this can be cash or a check. Once the deposit is processed, you will receive a passbook (a small booklet that records your transactions) and an ATM card. The ATM card usually arrives within 5 to 7 business days if you did not receive it on the spot.
Opening an Account Online Through BDO's Website
Go to the BDO website and look for the "Open an Account" or "Digital Banking" section. You will be asked to enter your personal information, including your full name, date of birth, contact details, and address. Have your government ID ready, as you will need to provide your ID number and the date it expires.
BDO's online process asks you to upload a photo of your ID and a selfie for identity verification. Make sure the photo of your ID is clear and shows all four corners of the document. The selfie should show your face clearly and match the photo on your ID. This step typically takes 1 to 3 business days for BDO to review.
Once BDO approves your online application, you will receive a confirmation email with instructions on how to complete your account setup. In most cases, you will need to visit a BDO branch in person to verify your identity and make your initial deposit before the account becomes fully active. Some online accounts can be funded through a transfer from another bank account, but this option is not always available for new customers.
Documents You Will Need
| Document Type | What Counts | Notes |
|---|---|---|
| Government ID (original) | Passport, driver's license, national ID, PRC ID, postal ID | Must be valid and not expired. Bring the original. |
| Government ID (photocopy) | Clear copy of the ID you brought | BDO will make this for you if you ask, or bring one yourself. |
| Proof of Address | Utility bill, lease agreement, bank statement, government notice | Must be dated within the last three months and show your current address. |
| Initial Deposit | Cash or check | Amount depends on account type; ranges from 1,000 PHP to 25,000 PHP or more. |
Account Types and Minimum Deposits
BDO offers several savings account options, each with different minimum deposit requirements and features. The BDO Savings Account is the most basic option and typically requires a minimum opening deposit of 1,000 PHP. This account has a monthly maintenance fee (usually 150 PHP or waived if you maintain a minimum balance), and you earn interest on your balance, though the rate is modest.
The BDO Optimum Savings Account requires a higher minimum deposit — often 25,000 PHP or more — but offers a higher interest rate and may waive the monthly maintenance fee if you keep the minimum balance. This account is better if you plan to keep a larger amount of money in savings.
The BDO Kabayan Savings Account is designed for Filipinos living abroad and has different rules around deposits and transfers. If you are an overseas Filipino worker or living outside the Philippines, ask a BDO representative whether this account might suit you better.
Interest rates and fees change periodically, so ask the teller for the current rates and fees when you open your account. BDO's website also lists this information, though it may not always be up to date.
What Happens After You Open Your Account
Once your account is open, you will receive a passbook and an ATM card. The passbook is a small booklet that records every deposit, withdrawal, and interest payment. You should keep it safe and bring it with you when you visit the branch to make deposits or withdrawals, though it is not required — the teller can look up your account by ID number.
Your ATM card allows you to withdraw cash from BDO ATMs and ATMs in the BDO network (which includes many other banks in the Philippines). You can also use your card to make purchases at stores that accept debit cards. If you did not receive your ATM card at the branch, it will be mailed to the address you provided within 5 to 7 business days.
BDO also offers online banking through their website and mobile app. You can set up online banking by visiting a branch or by calling their customer service line. Online banking lets you check your balance, transfer money between your own accounts, and pay bills without visiting a branch.
Frequently Asked Questions
How much money do I need to open a BDO savings account?
The minimum opening deposit is 1,000 PHP for a basic BDO Savings Account, though some account types require more. Ask the teller about the current minimum for the specific account type you want, as this can change.
Can I open a BDO account if I don't have a government ID?
No, BDO requires a valid government-issued ID to open any savings account. If you do not have one, you will need to obtain one first — this usually means applying at your local civil registry office or the appropriate government agency for your country.
How long does it take to open a BDO account online?
The online application itself takes about 10 to 15 minutes to complete. BDO then takes 1 to 3 business days to review your documents and approve your application. However, you will still need to visit a branch in person to verify your identity and make your initial deposit before the account is fully active.
What if I lose my ATM card or passbook?
Visit any BDO branch and report the loss to a teller. They can issue you a replacement ATM card (usually within 5 to 7 business days) and a new passbook on the spot. There may be a small replacement fee, typically 100 to 200 PHP.
Can I open a BDO account if I'm not a Philippine citizen?
Yes, but you will need a valid passport and may need additional documents depending on your visa status or residency. Ask at a BDO branch about the specific requirements for your situation, as these vary by country and visa type.