How to open a checking account at BPI

The need for a checking account came in my life. 😆 It’s for a monthly bill that requires “checks”.

BPI was my first option because I would be able to easily transfer funds online from my savings account into my newly created checking account. I dislike going to banks to fall in line and deposit, so online funds transfer is very convenient to me.

Click here to jump to the directions on how to open a checking account at BPI.

Some info on BPI checking accounts…

Types of BPI checking accounts

Let me tell you about the 2 types of BPI checking accounts first, based on what the BPI staff told me:

• Current Account: maintaining balance is P10,000 without interest
• Maxi-One Account: maintaining balance is P25,000 (eek!) with interest

Both Current [checking] account and Maxi-One checking account come with a checkbook (P175).

Can you convert an individual BPI checking account into a joint checking account?

I asked the bank staff this question and she said yes. Your co-depositor will be required to visit the same branch where you opened your checking account and present the same requirements, after which he/she will be able to issue checks from your account too.

ATM Card with BPI checking account?

Whether you get a Current/checking account or a Maxi-One checking account, you may request an ATM card with it. You may request an ATM card upon opening of the account, then you’ll have to wait a few days before visiting the BPI branch again to claim it.

Warning(s) on using any checking account

Never issue a check with insufficient funds in your account! BPI-to-BPI check encashment is realtime and has no clearing period, which means that once the recipient of your check goes to a BPI branch to encash the check, your checking account must have sufficient amount of money as written in the check.

This is how you can open a checking account at BPI:

Prepare BPI checking account requirements

Prepare the following before you visit a BPI branch:

• 2 Valid IDs with photo and signature: For example, SSS ID and passport
• 1×1 ID picture:
• Initial deposit: P10,000 for a regular current/checking account, or P25,000 for a Maxi-One checking account
• Payment for checkbook: P175
• Utility Bill reflecting address: For example, Meralco billing statement. This is to prove that you are providing BPI your correct address.
• Your SSS number, TIN number, and employer’s phone number (if applicable)

Visit a BPI branch

1. Go to the area for opening new BPI accounts and approach the bank staff. Ask a manong guard where to go for opening accounts, just to be sure.
2. Tell the bank staff you want to open a BPI checking account. Tell him/her whether you’d like a  regular current/checking account or the Maxi-One checking account. The staff might ask you the purpose of opening this account.
3. Present the required documents to the bank staff, as listed in my requirements section.
4. Fill up the forms given to you by the bank staff. He/she will tell you which parts of the form should be filled, then will later verify and might ask you to fill up some fields you missed.
5. The bank staff should orient you about using BPI checking accounts… feel free to ask him/her about anything you are unsure of.
6. Hand over your initial deposit + payment for checkbook when the bank staff asks you for it. He/she will deposit it for you and give you a stub/receipt for the deposit. Also, according to the bank staff who assisted me, if you have an existing savings account with BPI, you may request that they just transfer funds from that account into the new checking account that you’re opening. I think that’s more convenient if you want to deposit a large amount of money on your newly created checking account.
7. Wait for the checkbook. You should get it on the same day.
8. You’re done. Use your checks wisely and carefully! 🙂

What actually happened when I tried to open a BPI checking account:

Requirements that I had to present at BPI

I prepared all the requirements as listed above, but I did not have to present a utility bill. Maybe that’s because she has seen that I already have an existing BPI account that reflects the address I provided.

The bank staff asked me for 2 valid IDs (I used SSS ID and passport), one recent 1×1 photo, and P10,175 for initial deposit plus the checkbook.

How long does it take to open a BPI checking account?

Your BPI checking account opening should be done within 1 hour. I was at BPI – Legaspi Gamboa around 9:15AM (Eek! Daming nakapila sa mga BEA, buti hindi yun ang sadya ko) and got my checkbook around 9:50AM. 🙂

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