Which is the better bank to open a savings account with: BPI or BDO?

The better choice depends not just on the savings account features but also on the quality of the banking experience.

Up to you to choose which one better matches your preferences and needs. To help you decide, here are several considerations based on customer feedback posted online:


Reasons to get a BPI savings account.

  • Better online and mobile banking experience. BPI Online and BPI mobile app are more seamless and easier to use. You can also create a BPI #SaveUp account using only your smartphone and without going to a BPI branch.
  • More efficient in-branch transactions. BPI Express Assist machines automate over-the-counter transactions. No need to fill out a deposit or payment slip. BPI tellers also won’t need to input details because the machine automatically generates them on their system.
  • Online appointment system. This cuts down a customer’s waiting time in a branch by 15 to 30 minutes.
  • More deposit machines nationwide. BPI Cash Accept Machines have a wider presence (518) than BDO Cash Deposit Machines (almost 400).
  • No service fees on intra-regional deposits and withdrawals. Unlike BDO, BPI doesn’t charge a fee for transactions in any branch other than the branch of account within the same region. For inter-regional transactions, BPI has started charging service fees (Php 50 per deposit and Php 100 per withdrawal) in January 2019.

Reasons to get a BDO savings account.

  • Easier account opening requirements. BDO approves application even without a TIN. Also, no need to bring an ID picture because BDO tellers use a small camera to take each applicant’s photo.
  • More branches open beyond 4 p.m. and on weekends. BDO branches in SM malls have longer banking hours, with some even serving customers on Sundays.
  • More secure online banking. BDO sends a one-time password (OTP) to ensure that only account holders can access their online accounts. It also has a Lock ATM Card feature to protect against unauthorized use of lost or stolen debit card.

Go back to the main article: How to Open a BPI Savings Account: An Ultimate Guide