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27 thoughts on “How to Choose a Bank: An Ultimate Guide to the Top Banks in the Philippines

  1. I agree with this, and I find this very helpful especially for me. I want to save money for my future and It’s hard for me to think which bank is the best. Good thing, I’ve read this article and make me decide which bank is best for my case. I also worked in UnionBank before, if you are using an EON account, I suggest to contact them through facebook direct message they replied asap. I suggest to make a follow up also if you have concern for bank transfer. I decided to put my funds in BPI as a beginner ๐Ÿ™‚

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  5. I agree with the BDO, ONB & UnionBank. The summary at the beginning is the best. It cuts the reading time for me. And on the positive side, based on your infos, I would like to try the Security Bank – Time Deposit. Thanks for the effort in researching all of these!

  6. Hello! Please also check ING, all-digital savings bank, now with a high interest rate of 4% p.a. https://ing.com.ph/

  7. PNB Budget Checking Account – https://www.pnb.com.ph/index.php/budget-checking?tpl=1
    Balance Requirements
    Initial Deposit PHP 5,000.00
    Min. Maintaining Balance PHP 5,000.00
    Min. ADB to Earn Interest PHP 0.00
    Interest Rate N/A

  8. I have been a client of Security Bank for the longest time and, to date, I didn’t have any major concerns with them. Officers and staff are friendly and accomodating. Online banking with them is a nice experience, including investing in Trust products. Btw, I am a Gold Circle member and I find it very convenient to withdraw money from any ATM of any bank with no bank fees. My other main bank is BDO. I also have a good banking relationship with them. Online banking is also good, save for some technical glitches, at times. I maintain the bulk of my funds both with SBC and BDO. I am also a client of BPI. My major beef with them is that I find their servicing of clients at their branches soooo slow. I maintain just a minimal amount of funds with them just for back-up. The other bank where I maintain minimal funds is PSBank. No major concerns with them, as well.

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  10. For students like me:

    You can present a school ID, certificate of matriculation/registration form, 1 1×1 ID picture, and proof of billing.

    I don’t know why I was asked to present a proof of billing… I mean if I am a student.

    1. They use it to determine if you’re applying at the most ideal branch based on your address. I studied in Manila, but I actually lived in Las Pinas City (thus my billing is addressed to Las Pinas). Though they recommended that I apply at the branch nearest my home, I told them banking hours make the Manila branch more accessible to me. << basically a SOP

  11. For Savings Account, I prefer Robinsons Bank Simple Savings account. No maintaining balance as well, and for just 1 valid ID you can easily open an account. 100php initial deposit and 150php for debit card. And only 500 minimum to earn interest of 0.10% per annum. You can also apply online, very easy and simple unlike other banks that will require you 2 valid IDS.

  12. I have a BPI BDO Sec Bank, but my most convenient bank to date would be CIMB a digital bank. Free ATM withdrawal to any banks the Philippines, deposit in any banks that accepts Dragonpay but I do mine in 711 LBCs. Call customer service is free from any mobile and easy application all from mobile phone app.

  13. Hello. I have just moved to Manila from Brisbane. It seems many banks including BDO in Philippines are horrible in their online offering. Do people here not even have a basic expectation to apply online and everyone goes to the branch? It’s like 1990s here. Welcome any recommendation for a young(ish) professional who wants a modern local account. Citi is nice but don’t like their fees etc. Prefer a local account as I’ll be here for a few years. Thanks!

    1. Hello Randall,

      I am currently in Brisbane but my family is in the Philippines. I am curious as to which branch you have chosen to open an account with in the end, if you would kindly share it please. Also, if you could share why you chose said bank. Many thanks!

  14. Kaka kuha ko lang ng 1st salary ko sa bago kong trabaho, buti nalang naka hanap ako ng ganito, time saver at madaming magagamit na info for the future, mag sisimula muna ako ng Savings account with BPI, less fees, thank you ๐Ÿ™‚

  15. Philippine National Bank requires that you have an existing savings account for about 6 months before you can open a checking account.

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