Previously, me and my lovely wife opened a joint savings account in BDO for our emergency fund. We want to have a separate savings account for our emergency fund aside from other savings account we have.
So we went to the nearest BDO branch in our area and advised the teller we’re going to open a joint savings account.
If you’re planning to open a joint savings account in BDO too, this short article might help you.
Joint savings account in BDO requirements
- 2 pcs. of 2×2 latest photo
- valid I.D(original and photocopy)
- proof of billing(should be the same address with any of your valid I.D)
- initial deposit (P2,000) for ATM joint savings account
- TIN number (in earlier part of 2016, almost all establishments doing financial transactions ask to require TIN numbers from their clients/customers)
Steps in opening joint savings account in BDO
1. Prepare all the requirements and visit the nearest BDO branch in your area.
*Reminder: BDO has a new policy to refer the applicant to the nearest branch in their area based from your valid I.D and proof of billing address.
2. Go to the new account section and advise that you want to open a BDO joint savings account. The teller will check the requirements and will provide the application form for you to fill up.
3. Fill-up and complete the application form. Make sure all information are correct. You will also be asked what type of joint savings account you’re going to open.
Me and my wife chose to open an “OR” BDO joint savings account so we can have both the ATM and we can withdraw anytime(for emergency) without having the consent of each other.
4. Submit the application form. We also advised the teller to have it open or activated for BDO online banking. The teller will provide all the details and will inform you when you can claim the ATM card. In our case, it took 3 business days.
*Tip: We were asked to present a valid I.D that has the same address with our proof of billing. And since we were just “new” in our place, our I.D are in different addresses. We tried to “beg” the teller but unfortunately she didn’t allowed.
Instead, we were advised to get a barangay clearance where we live before they can completely process the application.
So we’re not able to open a joint savings account in BDO that day. We have to acquire barangay clearance first. We went to the barangay hall in our place and requested for a clearance. We paid P50. After a day, we went back to BDO and apply again for joint savings account. Everything was settled.
That’s it! We now have an ATM joint savings account in BDO. Actually, we’ve already completed our emergency fund after almost a year of opening this joint savings account in BDO.
Putting your money in the bank gives you a little interest and small room to grow. If you’re goal is to grow your money over the long term, I suggest you study and learn how to invest.
If you don’t have idea, here is a great article that shares and discusses the fundamentals and basics of investing. It’s called investing 101.
Thanks for dropping by. Cheers!