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Applying for a checking account had never been my priority until I got the need to have one because it’s the only way that I could pay for a certain transaction. So I went to BDO, which is the nearest bank from our house, and asked about the requirements. I thought it was easy to apply and get approved because I have a savings account with them and my current balance is more than the required amount. However, I wasn’t approved to apply for a checking account because my MADB (Monthly Average Daily Balance) for 6 consecutive months was a hundred shy from the requirement which is P10,000.
So I moved on to the next bank, BPI, where I also have an account with and asked for the requirements. I found out that they’re not as strict as BDO when it comes to the MADB requirement. In fact, they don’t even require to have an existing savings account to apply for a checking account, though it’s much better to have one.
The requirements were 2 valid IDs, 1 1×1 photo, and a proof of billing. The only valid ID that I have under my married name is my Postal ID but I also have a certified copy of our marriage certificate. But since they required 2 valid IDs, I had no choice but to apply for a checking account under my maiden name.
I filled out the application form, gave P10, 000 for the initial deposit and P175 for the checkbook, and submitted the requirements to the BPI personnel. After a few minutes of waiting, I got my first checkbook!
Before, I thought having a checkbook was only for the rich. Yeah, seriously, I thought it’s only for those who have millions in the bank! 🙂 I remember, in some of the teleseryes that I’ve seen before, the kontrabida or the matapobre character issues the check and the bida would refuse to accept it or even tear it off in front of her/him. And now that I have my own checkbook, I feel like I am the “kontrabida”. Haha funny!
There are several advantages of having a checking account. It allows us to pay our bills and other transactions that require a check as mode of payment. It’s safer to carry around checks than large sums of cash. If well maintained, a checking account can be an asset to establish a good credit rating, which is important if we’re considering to apply for a loan or a big purchase like a house or a car.
With all the advantages that a checking account offers, there’s one thing that we should never ever think of doing, and that is, to issue a check with insufficient funds. Why? Because you will be penalized or worse, you will be sent to jail. I don’t know if this is updated but you may want to take a look at this post or better yet, ask a lawyer or the bank personnel. I’m sure they’ll explain to you the terms and conditions in details.
How about you? Do you have a Checking Account? Where do you use it for and how do you maintain your good credit rating with your checking account?
This is good news.
I thought it is complicated to get a checking account.
I also prefer to pay checks because it is less headache. My only is concerned then is to fund the account.
Thanks for sharing
That’s also what I thought.
Good thing it was easier to apply for a checking account with BPI.
If you have an online account with BPI, you can transfer your funds online to your checking account.
You’re welcome. 🙂
I remember, in some of the teleseryes that I’ve seen before, the kontrabida or the matapobre character issues the check and the bida would refuse to accept it or even tear it off in front of her/him.
^ This is so funny because I remember this, too, very well! LOL
yeah, that’s how it worked before! 🙂
Janice, ask ko lang, saang branch ka naaprove…. Ako din di na approve sa BDO, need ko pa naman, kakainis sila, 3 years nna ang account ko and on/off syempre and pera mo. Sabi nila i need to have at leasr 50k daw sa account ko.
at kailangan i maintain ko daw na ganoon lagi ang balanse, so disspointed talaga ako. By the way, saan branch ka nag open baka ma approve din ako.:)
Hi Eleanor, I applied at the BPI-Aurora branch. 🙂
Aurora Cubao
Thank you very much for these helpful info. Planning to get a checking account soon. Keep it up!
Nice website btw.
Thanks Mike, I appreciate it! 🙂
Good luck on your application!
This sure is very helpful! My boyfriend’s lola asked me to get a checking account para sa kotseng kukunin namen (2nd hand). Naguumpisa palang kame sa pagpupundar ng gamit so ang unang reaction ko was “what??! Hindi naman ganun kadali kumuha ng checking account eh!” Mali pala ako 😀 Thanks so much po for the info 🙂
I’m glad this article helped.
Thanks for sharing your experience 🙂
I applied for a checking account and attendant says it will take 5 to 7 workings days to get the checkbook.
I just tried to apply for a checking account at BPI and the main requirement they require is to the PURPOSE!? What is my purpose in applying for a checking account. I have no purpose and was declined. I have a six digit savings account with them. Maybe it depends on the branch?
But why are you applying for a checking account nga ba? 🙂
You sure you want to have a checking account for nothing? 🙂
I’m just curious also… hehe
Ask ko lang what if mag papa open palang kmi ng acc sa BPI? Pwede nadin ba magpa open kaagad ng checking acc kahit na kaka open mo palang sa kanila? Thanks!
HI, thanks for your info but can I ask after mo makapgopen ng checking account, pwede mo din ba makuha agad ung initial deposit na 10k? thanks
Hi Ms.janice nice post.
Anyway ask ko lng po kpg nagopen ka ng checking acnt then somehow you badly needed the money and needed to close the accnt will i’ll be able to get the 10k maintaning balance?
Tnx