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How To Open BDO Savings Account: An Ultimate Guide

How To Open BDO Savings Account: An Ultimate Guide

Opening a BDO savings account is as easy as buying a new phone.

All you need to do is go to the nearest branch, present the requirements, sign a few documents, and call it a day.

And yet, people still make a lot of excuses why they haven’t opened one yet.

The latest Financial Inclusion Survey by the Central Bank revealed that many Filipinos still have no bank accounts1. Surprisingly, aside from insufficient funds, respondents also mentioned a lack of requirements (40%) and knowledge in opening an account (22%) as the reasons why they’re still not saving for a rainy day through a savings account.

Let this guide teach you the essential requirements and procedures for opening BDO savings account to stop you from making the same excuses.

Why Open a BDO Savings Account?

One word: Convenience.

Almost every town, city, and shopping mall in the country has a BDO branch.

SM Group owns BDO, so you’ll always see a BDO branch in almost any SM mall you visit. This gives BDO the competitive advantage of weekend banking and longer banking hours than other banks outside SM malls.

As of this writing2, BDO has 1,600 branches and more than 4,500 ATMs and electronic channels nationwide3 ready to meet its customers’ various banking needs. Furthermore, BDO has 16 international offices in Asia, North America, Europe, and the Middle East.

In terms of overall performance, BDO isn’t trailing behind, either.

BDO Unibank Inc. has consistently won the “Best Bank in the Philippines” award by FinanceAsia4 for several years now due to its “strong business franchise, low-cost funding, quality assets, and extensive distribution network.”

Current Account vs. Savings Account: What’s the Difference?

Whether you’re withdrawing or depositing money into the bank, you’ll always be required to fill out a form to complete the transaction.

On this form, the first question usually asked is the type of account you have–Savings or Current.

Before this, the naive, younger version of myself would usually check the box corresponding to the “Current” account without any idea what it meant. It was only later that I realized that I had a savings account!

Let’s briefly discuss the difference between these two deposit accounts to avoid confusion.

Savings Account

  • A type of deposit account ideal for those with regular income. It’s used to save money to meet short- or long-term financial goals like financing a wedding, buying a car, saving for an emergency fund, and other future purchases.
  • Interest rates range from 0.10% to 1.75%.
  • It has a maximum limit on the number of transactions the account holder can carry out in a month.
  • Lower minimum balance/initial deposit.

Current Account

  • Also known as a checking account, this type of deposit account is intended for frequent or regular financial transactions like paying bills, loans, tuition, and rent. Suitable for businesses, firms, companies, organizations, and public enterprises.
  • It doesn’t earn interest due to its fluidity.
  • There is no maximum limit on the number of transactions the user can carry out.
  • Higher minimum balance/initial deposit.

Benefits of Opening a Savings Account

The following are some of the perks of getting your savings account in the Philippines:

  • A savings account allows your money to grow in the bank every year. The interest rate may vary depending on the bank you’re enrolled in.
  • It takes less money to open a savings account.
  • It requires a lower maintenance balance. If you open a BDO ATM account, for example, you can keep the account active with just ₱2,000.
  • Enjoy convenient and quick banking transactions with the new BDO Pay mobile app. This e-wallet is linked to your savings account; you can manage your deposits, pay bills, send money, pay via QR, and shop online. Additionally, BDO Pay does not require an initial deposit or maintaining balance, so you can easily use the application.

Of course, with all advantages also come a few disadvantages:

  • The interest rate is lower than what you can earn from other financial products like stocks and mutual funds. Even Pag IBIG Fund offers its account holders a relatively higher interest rate.
  • Most Philippine banks limit the number of daily transactions you can carry out and the amount of money you can withdraw per transaction.
  • In the case of BDO, you will be charged ₱100 for over-the-counter withdrawals regardless of whether their ATMs are functional. They also charge absurd fees for literally every transaction you can think of. For instance, you’ll be charged a deposit fee of at least ₱50 if you’re depositing money in a branch other than where you opened your BDO account.

BDO Savings Account Requirements

Before going to the BDO branch, make sure you already have all the following requirements:

1. Valid IDs (Original and Photocopy)

According to BDO5, one valid  ID is accepted if you present any of the following:

If you do not have any of the valid IDs above, you need to prepare at least two of the valid IDs listed below:


  • BDO is strict with its “no valid ID, no application” policy. You should bring at least two valid IDs above as long as they remain within their validity periods. 
  • You should open a BDO savings account at a branch closer to your location or residence.

2. Minimum Initial Deposit

The table below shows the minimum initial deposit required for each type of savings account.

Type of BDO Savings AccountMinimum Initial Deposit
Peso Passbook Savings (with or without ATM)₱5,000
Peso ATM Debit Card (without passbook)₱2,000
Optimum Savings₱30,000 (Personal) and ₱50,000 (Business)
Junior Savers₱100
Prime Savers₱2,000
Direct Deposit₱0
Dollar Savings$200
Prime Savers Dollar$200
Direct Deposit Dollar$0
Australian Dollar Savings Account$500
Canadian Dollar Savings Account$1,000
Chinese Yuan Savings Account¥2,500
Euro Savings Account€500
Great Britain Pound Savings Account£500
Hongkong Dollar Savings Account$500
Singapore Dollar Savings Account$500
Yen Savings Account¥50,000
Peso Time Deposit₱1,000
Premium Flexi Earner₱10,000
Dollar Time Deposit$1,000
Dollar PRS (Philippine Retirement Authority)Time Depositas advised by PRA
Two-Year Dollar Time Deposit$50,000
Three-Year Dollar Time Deposit$50,000
Five-Year Dollar Time Deposit$50,000

What Are the Different Types of BDO Savings Accounts?

Here are BDO savings accounts that you can choose from depending on your financial goal:

a. BDO Passbook Savings

The Peso Passbook Savings can be availed with or without an ATM. You won’t be tempted to splurge on unnecessary stuff if you choose the no-ATM option. This makes the passbook savings account ideal for those who want to save money to achieve short- or long-term financial goals.

Whereas Peso Passbook Savings ensures all your financial transactions are safely recorded in a bank-issued notebook or passbook, an ATM/debit card makes you more vulnerable to identity theft and other fraudulent activities.

If safety is a significant concern, choose a passbook savings account and consider having an ATM only if you’re ready to handle the risks.

Key Features:

  • With or without ATM.
  • Minimum Initial Deposit: ₱5,000
  • Minimum MADB (Monthly Average Daily Balance) Requirement: ₱10,000
  • Minimum Balance to Earn Interest: ₱10,000
  • Gross Interest Rate Per Annum: 0.0625%

b. BDO ATM Savings

A bank account you can carry anywhere you go, the BDO ATM Savings enables you to receive payments, pay bills, withdraw cash, transfer funds, shop online, and experience a host of other conveniences made possible by the BDO online banking facility.

Choose this account if you prefer to spend money without bringing cash.

Key Features:

  • Without passbook.
  • Minimum Initial Deposit: ₱2,000
  • Minimum MADB (Monthly Average Daily Balance) Requirement: ₱2,000
  • Minimum Balance to Earn Interest: ₱5,000
  • Gross Interest Rate Per Annum: 0.0625%0.125%

c. BDO Optimum Savings

Optimum Savings offers the highest interest rates among BDO savings accounts. It is ideal for entrepreneurs who want the highest return for their money or anyone with long-term financial goals but don’t want to be tied down with a time deposit account.

In addition to its high-interest rates, Optimum Savings also allows you to debit or withdraw money from your account for free up to three times a month.

Key Features:

  • Minimum Initial Deposit: ₱30,000 (Personal); ₱50,000 (Business)
  • Minimum MADB (Monthly Average Daily Balance) Requirement: ₱30,000 (Personal); ₱50,000 (Business)
  • Minimum Balance to Earn Interest: ₱30,000 (Personal); ₱50,000 (Business)
  • Gross Interest Rate Per Annum: Please call or visit your preferred BDO Branch for the latest interest rates.

d. BDO Junior Savers

A vital tool to teach financial literacy to youngsters 12 years old and below, the BDO Junior Savers is every responsible parent’s dream come true.

By giving your kids their savings accounts early, you’re instilling in them the value of saving money and handling it well.

Key Features:

  • Passbook for kids below 12 years old.
  • ATM/BDO EMV Debit Card available to children aged 7 to 12 upon request.
  • Transfer money from an existing BDO account to the child’s Junior Savers via online banking or Easy Saver.
  • Minimum Initial Deposit: ₱100
  • Minimum MADB (Monthly Average Daily Balance) Requirement: ₱100
  • Minimum Balance to Earn Interest: ₱2,000
  • Interest rate (per annum): 0.25%

Additional Information6

  • You are required to submit authenticating documents of the child’s personal information, such as PSA Birth Certificate, School ID signed by School Head or Principal, or a Passport
  • You need to present adoption documents if you are an adoptive parent
  • You must present guardianship documents if you are the child’s legal guardian.
  • BDO may convert Junior Savers account into PESO ATM Savings Account once the child reaches the age limit set by the bank

e. BDO Dollar Savings

This is the best savings account to keep your US dollars and earn interest in the same currency. It also comes with a passbook.

Key Features:

  • Minimum Initial Deposit: USD 200
  • Minimum MADB (Monthly Average Daily Balance) Requirement: USD 500
  • Minimum Balance to Earn Interest: USD 500

f. BDO Prime Savers Dollar

Intended for senior citizens (60 years old and up), a Prime Savers Dollar account offers perks like special forex rates and access to priority lanes during bank transactions.

Key Features: 

  • Minimum Initial Deposit: USD 200
  • Minimum MADB (Monthly Average Daily Balance) Requirement: USD 200
  • Minimum Balance to Earn Interest: USD 500
  • Gross Interest Rate Per Annum: 0.05%

How To Open a BDO Savings Account Online: A Step-by-Step Guide

Now that you know the basics, let me walk you through every step to open a BDO savings account in the Philippines.

1. Decide on the Type of BDO Savings Account You Want To Open

bdo savings account 1

BDO offers a wide range of savings accounts to suit your particular needs. However, the only types of BDO savings account you can open online are the PESO savings accounts (Passbook and ATM), US Dollar Savings Account, and the BDO Kabayan Savings Account (Peso and Dollar), which is dedicated to OFWs.

If you want to open an Optimum Savings or a Junior Savers account, go to a BDO branch instead. 

2. Fill Out the Online Application Form

bdo savings account online application

Here are the steps to complete the BDO online application form:

  1. Go to the official BDO website.
  2. Under Personal, on the left side of the page, select Accounts.
  3. Under How to Open an Account, you can choose whether to open an account online or in-branch. 
  4. Select “Online.” Please scroll down the page to view Available Accounts. 
  5. Select from the list of savings accounts on the page. Click the Apply Now button under the savings account name to start. For instance, if you want to open a BDO Passbook Savings account, click the Apply Now button under this savings account. 
  6. Once you have picked a savings account to open, click Start Application.
  7. You’ll be asked whether you’re an existing BDO customer or not. Select whichever applies to you. Click Next.
  8. Complete the personal information of the online application form with your details. You will receive a One-Time Pin (OTP) to your mobile number. Enter this OTP to proceed to the next part.
  9. Complete the Financial Information portion of the online application form. Indicate your primary source of income and gross annual income.
  10. Upload a clear photo (front and back) of your valid ID. Make sure that every detail in the ID is readable in the image. You also need to upload a selfie while holding your valid ID.
  11. Select your purpose for account opening.
  12. Complete the remaining portions of the form, including your preferred interview schedule and BDO branch of account. You must also set up your BDO online banking account by providing a username and a password.

3. Prepare for the Online Interview

Once you have completed the online form, you will receive an email notification regarding your account application. You will also receive information regarding your upcoming KYC interview with a BDO representative to complete your application.

Note that the interview is done virtually through Zoom. Make sure to have a stable internet connection, and you’re in a well-lit area. Bring also at least two valid IDs and a black ink pen and a piece of paper. 

If your online application and interview are successful, your application will be endorsed for approval. You will receive a confirmation email stating that your application is approved and your savings account is ready. You can now also open your account in BDO online banking app. 

However, you need to fund your account within seven days after your account approval to continue your savings account’s validity.

How To Open a BDO Savings Account In-branch

1. Print and Fill Out a BDO Savings Account Application Form

bdo branches

If you prefer to open an account at a BDO branch, you must download, print, and fill out the required personal account form and submit it to the nearest BDO branch with other requirements and the initial amount of deposit needed.

Ideally, you should open a savings account near your BDO branch.

You can use the BDO branch locator to determine if branches are near you.

For most branches, banking hours are from 8:30 AM to 4:00 PM7. They are open from Monday to Friday, but some operate on Saturdays. These BDO branches are also open every Saturday until 4 PM.

BDO branches open on weekends (including Sundays) are located inside SM malls. Their banking hours are until 4:00 PM.

2. Proceed to the “New Account” Station and Submit All the Requirements

bdo savings account application form

There is no need to fill out another form upon arrival at your preferred branch because you have already completed the online application form (see step #3).

You will be asked to provide three identical signature specimens.

There is no need to submit ID pictures because most BDO branches already have cameras for image capturing.

After submitting the requirements, including the initial deposit, the bank officer will inform you when your account will be activated and when you can return to claim the passbook, ATM, or both.

3. Wait for Your BDO Savings Account To Be Activated

bdo atm requirements

Account activation usually takes at least 1 to 2 days from the date of application.

On the other hand, the passbook and ATM are issued after 5 to 7 banking days.

Once you’ve been issued the ATM card, follow the steps below to activate it:

  • Go to any BDO ATM and insert your new card.
  • Select “Other Services.”
  • Choose “PIN Change” and enter the 6-digit PIN (Personal Identification Number) provided to you.
  • Enter your preferred PIN.
  • Re-enter your desired PIN.
  • Wait for the message “New PIN has been generated.” Don’t forget to keep the transaction receipt.

If you have any questions concerning account activation, please call BDO Customer Contact Center at 631-8000 or visit the BDO branch where you opened your savings account.

4. Access Your Savings Account Through BDO Online Banking

bdo online banking

After your BDO savings account is activated, you can access your BDO online banking. As you can remember, you already enrolled in online banking via the online application form you accomplished earlier.

Although it’s optional, getting into online banking can give you access to many features that can benefit you in the long run.

The following are some of the transactions you can do via BDO online banking:

bdo online banking services

Tips and Warnings

  • According to a BDO customer service agent I interviewed, BDO no longer requires proof of billing (e.g., water bills, MERALCO bills, credit card bills, etc.). As part of their protocol, applicants may be asked instead to provide vital personal information, including their employment background or source/s of income. The two valid IDs and the initial deposit should be enough to open a BDO savings account.
  • There’s no need to bring 2 x 2 or 1 x 1 ID pictures. BDO is already equipped with cameras for image capturing.
  • Read the fine print before choosing the BDO savings account to open. For example, while a Passbook account can be converted to an ATM account, the same is not valid for the contrary (i.e., you can’t convert a BDO ATM Savings to a BDO Passbook Savings).

Frequently Asked Questions

1. What is the Minimum Initial Deposit?

The minimum initial deposit is required to open an account with BDO. As you can see in the table below (second column from left), the minimum initial deposit varies depending on the type of savings account.

bdo savings account 1

The higher the interest rate (as in the case of Optimum Savings), the higher the required initial deposit.
Remember that the initial deposit is part of your savings, not a payment to BDO, so that you can open a savings account with them.

2. What is the Monthly Average Daily Balance (MADB)?

The monthly average daily balance (MADB) is the money you must maintain in your savings account to avoid a penalty fee.

To understand it clearly, emphasis should be given to “average.” Therefore, if the MADB of a savings account is Php 2,000 (as in the case of BDO ATM Savings), it doesn’t mean you should maintain a balance of Php 2,000 in your account every day of the month. Again, we’re talking about the average.

In this case, MADB can be computed by adding the remaining balance in your account for each day in the month and dividing the total by the number of days in the month. For example, from November 1 to 15, your ATM Savings had a Php 2,000 balance left untouched throughout that time frame. Then, come November 16, you withdrew Php 300 from your account and failed to make any deposit throughout the month (i.e., 15 days–from November 16 to November 30). At the end of November, your monthly average daily balance would be:

(Php 2,000 x 15) + (Php 1,700 x 15) = 55,000
55,000/ 30 = Php 1,850

As the table below suggests, you fall short of the required minimum average daily balance (i.e., Php 2,000) for ATM Savings.

bdo savings account 1

However, failing to meet the MADB once is insufficient for you to incur fees. Only if you don’t meet the required MADB for two consecutive months will you be charged Php 300, also known as the “Falling Below Minimum Balance Fee.” In the case of BDO Passbook Savings, where the MADB is twice the minimum initial deposit (see table above), account holders must deposit an additional Php 5,000 within the month of opening the account to meet the required MADB of Php 10,000.

3. What is the Minimum Balance to Earn Interest?

As its name already suggests, it is the minimum amount of money you need to keep or maintain in your savings account for it to earn interest. Save for Optimum Savings and Junior Savers, all BDO savings accounts enable you to earn a gross interest rate of 0.0625% every year. This earning is spread out over 12 months, which means:

0.0625% / 12 = 0.0052083% per month

Again, to consistently earn interest every month, you need to ensure your balance doesn’t end up less than the minimum balance to earn interest (see the fourth column of the table below).

bdo savings account 1

As for Optimum Savings, interest rates may vary depending on how much your money is and the BDO branch where you opened the account. Account holders can expect between 0.50% to 1.25% gross interest rate per annum.

Keep in mind, however, that interests earned from the BDO savings account are taxable. A 20% withholding tax is imposed on every interest you earn monthly. Therefore, if you make Php 100 in interest this month, Php 20 (20%) will be deducted from it as withholding tax, trimming down your earnings to only Php 80 per month.

4. I want my kids to have bank accounts. How can I open a BDO Junior Savers?

For parents who want to instill in their children the value of money and the importance of saving up for rainy days, the BDO Junior Savers is the perfect tool. Available for young Filipinos aged 0 to 12 years old, this BDO kiddie savings account is your child’s key to early financial independence.

As with the regular savings account, BDO Junior Savers allows you to choose between a passbook, an ATM/BDO EMV Debit Card, or both. However, the card is only available for kids 7 to 12.
Also, kids under seven years old are only allowed to open an account under the name of a parent/guardian. 

Another excellent feature of BDO Junior Savers is the ability to transfer money from the parent’s bank account to the child’s BDO Junior Savers account. Money transfers can be done either through online banking or Easy Saver.

To open a BDO Junior Savers account, you can follow the same procedure written above, albeit with the addition of a few more requirements:

List of BDO Junior Savings Account Requirements

a. For Kids 7 to 12 Years Old

*Original copies of the following:
*Birth Certificate issued by PSA or Local Civil Registry.
*School ID signed by the school head or principal.
*School registration/Certificate of enrollment.

b. For Kids Under 7 Years Old

*Original copies of the following:
*At least two valid IDs of the parent/guardian. 
*Any child’s ID or document listed in the previous section (i.e., passport, birth certificate, or school ID).
*Adoption documents, if applicable (if the account will be opened by or named under the adoptive parent).
*Guardianship documents, if applicable (if the account is to be opened by the legal guardian).

c. Proof of Income

Since the parent is the one who will deposit the money, BDO may ask you for your latest payslips or certificate of employment (employed).

For self-employed parents, you may present a business permit from DTI and your barangay to prove that your income comes from a legitimate business.

d. Initial Deposit

Aside from the documentary requirements, don’t forget to bring Php 100 as an initial deposit. 

5. How can I open BDO savings account if I’m an OFW?

The BDO Kabayan Savings Account was developed with Overseas Filipino Workers (OFWs) and their families in mind. It can be an indispensable tool for OFWs struggling to develop the self-discipline of saving money, especially those who regularly send remittances via BDO Remit.

This OFW-friendly savings account offers the following features and benefits:

*A low initial deposit of Php 100 for Kabayan Peso Savings Account and USD 100 for Kabayan Dollar Savings Account.
*Gross interest rate per annum: 0.05%.
*Minimum balance to earn interest: Php 5,000 (Kabayan Peso Savings Account) and USD 200 (Kabayan Dollar Savings Account).
*Passbook and ATM debit card.
*Zero maintaining balance
, provided you remit at least once within two years. Otherwise, your account will be converted to a regular one with a maintaining balance of Php 2,000.
*Opportunity to qualify for BDO Rewards points and free life and accident insurance. 
*A great tool to build a good credit score to leverage to qualify for housing, car, or personal loans.

If the above reasons convince you to open a BDO Kabayan Savings account, go to any BDO branch in the Philippines and complete the application.

Bring the following requirements to apply for a Kabayan Savings account:

a. Minimum initial deposit: Php 100 for a peso account and USD 100 for a dollar account.
b. One (1) valid ID.

According to BDO, OFWs applying for the Kabayan Savings account may bring any one of the following valid IDs:

*Passport, preferably a Philippine passport. Should you present a foreign passport, it must be written in or translated into English, and you must have a Philippine residence.
*Driver’s license issued by the Land Transportation Office
*PhilSys ID
*Professional Regulations Commission (PRC) ID
*National Bureau of Investigation (NBI) clearance
*Police clearance with the dry seal of PNP
*Philippine Postal ID
*Voter’s ID
*Barangay certification with the dry seal from the barangay where it was issued
*Government Service and Insurance System (GSIS) eCard
*New Social Security System (SSS) ID
*Senior citizen ID
*Overseas Workers Welfare Administration (OWWA) ID
*Overseas Filipino Workers (OFW) ID
*Seaman’s book
*Alien Certificate of Registration (ACR) / Immigrant Certificate of Registration (ICR)
*Government office and GOCC ID (e.g., Armed Forces of the Philippines [AFP], Home Development Mutual Fund [HDMF])
*Integrated Bar of the Philippines (IBP) ID
*Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
*Department of Social Welfare and Development (DSWD) Certification
*Company IDs (issued by private entities or institutions registered, supervised, or regulated by BSP, SEC, or IC)
*Green card (issued by US Immigration and Naturalization Service)
*Foreign IDs with picture (issued by the government of the country of origin)
*Locally issued credit cards (current with picture)
*Firearms License with picture
*Tax Identification Number (TIN) card (card type with picture)
*Investment ID card signed by the Department of Foreign Affairs (DFA)
*For students who are not yet of voting age – school ID (duly signed by the principal/head of school together with the registration form for the current semester/school year)

Meanwhile, OFWs applying for a Kabayan Shipping Dollar Savings account may present any one of the following:

*Seaman’s Book
*PRC ID (issued to Seafarers)
*Marina ID

Submit the above requirements and wait for bank personnel to process your application. BDO Kabayan Savings comes with a passbook and an ATM debit card which you can use internationally.

You can also open a Kabayan Savings Account (Peso or Dollar) online. 

Access the BDO Kabayan Savings account page and select what type of Kabayan Savings account you want to open. 

Afterward, complete the online application form and the required photos of your valid ID. Once done, you will be in the queue for a Zoom interview with a BDO representative. If your interview succeeds, you can now deposit online or in-branch. 

Additional Information: A Kabayan Savings Account with no remittances for one year will be converted into a Regular Savings account

6. Can I open a BDO savings account in the Philippines as a foreigner?

Foreigners staying in the Philippines for less than 180 days can easily apply for a dollar/foreign currency savings account since the requirements aren’t as rigid.

However, to open a regular peso account, you should prove to BDO that you’ve been staying in the Philippines for at least 180 days. This is the reason why BDO and other Philippine banks require foreigners to present two valid IDs (photocopy and original) upon application:

*Foreign passport with characters that are written in or translated into English.
*Alien Certificate of Registration ID Card (ACR I-Card) / Immigrant Certificate of Registration (ICR).

Save for the two valid IDs above, the requirements and application procedures are the same for foreigners.  The ACR I-Card is the most difficult to obtain among the requirements since it’s only issued to those with long-term visas. However, the Bureau of Immigration can also give you an ACR I-Card for tourists, provided that you apply for a visa extension to show your intention to stay in the Philippines for more than 59 days.

7. How can I open a BDO Joint Savings account?

A BDO joint savings account is like your regular one, except you share 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 savings, checking, or time deposit account. However, this article will focus on the most common type–a 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 applying for a regular one (i.e., two valid IDs and minimum initial deposit). But since more than one person is applying for a joint account, each applicant must bring his/her two valid IDs (photocopy and original). You can see the complete list of valid government-issued IDs here. 

The minimum initial deposit for a BDO joint savings account is 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.

There is no need to bring ID pictures since BDO is already equipped with cameras to capture the image.

2. Submit Your Application at the Nearest BDO Branch

It’s essential 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 who will be part of the joint account must 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:

a. If it’s “OR” joint account, each account holder will have an ATM card, and either 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 minimum initial deposit and 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.

8. Can I open an account in BDO without an initial deposit?

You cannot “completely” open BDO savings account without providing an initial deposit.

If you apply for a savings account online, you are not required to give the initial deposit during the online application and interview. Once your application is approved and you already have a savings account, you must fund it within seven days after its approval.


  1. 2021 Financial Inclusion Survey [PDF]. (2021). Manila: Bangko Sentral ng Pilipinas.
  2. Market Reach (BDO). (2021). [PDF]. Retrieved from https://www.bdo.com.ph/sites/default/files/pdf/Market%20Reach.pdf
  3. BDO Frequently Asked Questions. (2020). [PDF]. Retrieved from https://www.bdo.com.ph/sites/default/files/pdf/BDO_FAQ_Website_FINAL.pdf
  4. Gatdula, D. (2013). FinanceAsia cites BDO as Best Bank in Phl. Retrieved 4 January 2021, from https://www.philstar.com/business/2013/07/16/974041/71jOicX2xtoLh8wg.99
  5. How to Open an Account at A BDO Branch. Retrieved 26 November 2021, from https://www.bdo.com.ph/personal/accounts/how-to-open-an-account
  6. Junior Savers. (n.d.). Retrieved April 7, 2023, from https://www.bdo.com.ph/personal/accounts/savings/peso-savings/junior-savers
  7. Branch and Mobile Machine Schedules. (2021). Retrieved 26 November 2021, from https://www.bdo.com.ph/covid-updates

Luisito Batongbakal Jr.

Luisito E. Batongbakal Jr. is the founder, editor, and chief content strategist of FilipiKnow, a leading online portal for free educational, Filipino-centric content. His curiosity and passion for learning have helped millions of Filipinos around the world get access to free insightful and practical information at the touch of their fingertips. With him at the helm, FilipiKnow has won numerous awards including the Top 10 Emerging Influential Blogs 2013, the 2015 Globe Tatt Awards, and the 2015 Philippine Bloggys Awards.

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