How To Open a BDO Joint Savings Account: An Ultimate Guide

A BDO joint savings account is like your regular savings account, except you’re sharing it with one or more people.

Contrary to popular belief, a joint savings account is not only designed for married couples. Associations, business partners, organizations, friends, and families can also open one to keep their funds under one account.

A joint account can be in the form of savings, checking, or time deposit account. For this article, however, we’re going to focus on the most common type–joint savings account.

Here’s how to open a BDO joint savings account in two simple steps:

1. Complete All the BDO Joint Savings Account Requirements

Application requirements for BDO joint savings account are the same as when you’re applying for a regular one (i.e., two valid IDs and minimum initial deposit).

But since there are more than one people applying for a joint account, each applicant must bring his/her 2 valid IDs (photocopy and original). You can see the complete list of valid government-issued IDs here. 

The minimum initial deposit for BDO joint savings account is also the same as a regular one. Therefore, if the minimum initial deposit for the ATM Savings account is Php 2,000, the required initial deposit for Joint ATM Savings account is also Php 2,000.

Please refer to the table below for a complete list of BDO savings accounts and their corresponding minimum initial deposit requirement.

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No need to bring ID pictures since BDO is already equipped with cameras to do the image capturing.

2. Submit Your Application at the Nearest BDO Branch

It’s important to file your application at the nearest BDO branch. You may get rejected if your place of residence is too far.

Upon arrival, go to the “New Account” section and wait for the bank officer to issue you the BDO Joint Account Opening Form/s.

All applicants that will be part of the joint account will be required to fill out an application form.

The bank officer will also ask you for the type of BDO joint savings account you prefer. Choose from either “OR” or “AND” joint account:

  • If it’s “OR” joint account, each account holder will have an ATM card and either one of you can withdraw cash from the account without the other’s consent.
  • If it’s “AND” joint account, you will only be issued a passbook and every time you want to withdraw cash, both account holders must personally go to the bank and affix their signatures.

Submit the required minimum initial deposit and then wait for your pictures to be captured.

The bank officer will then discuss with you the terms and conditions of the bank as well as when the BDO joint savings account will be activated.

Go to the main article: How to Open a BDO Savings Account in the Philippines