You can open a Metrobank savings account online, but only if you already have a Metrobank checking account

Metrobank does not let you open a savings account through their website unless you are already a Metrobank customer with an active checking account. If you have a Metrobank checking account, you can log into Metrobank Online (their digital banking platform) and add a savings account without visiting a branch. The process takes about 10 to 15 minutes.

If you do not yet have a Metrobank checking account, you will need to open that first, either online or at a branch. Once that account is active and you have your login credentials, you can then open the savings account online.

Key Takeaways

  • Metrobank requires you to have an existing checking account before you can open a savings account online through their website.
  • If you are already a Metrobank customer, you can add a savings account by logging into Metrobank Online and following the prompts in the Accounts section.
  • New customers must open a checking account first, either online or at a Metrobank branch, before they can open a savings account.
  • You will need your Metrobank username and password, a valid ID, and your Social Security number to complete the online savings account opening.

Opening a savings account if you already bank with Metrobank

Log into Metrobank Online using your username and password. Once you are logged in, look for the Accounts or Products section in the main menu. Select the option to open a new account or add an account.

Choose Savings Account from the list of account types. Metrobank typically offers a few savings account options — read the descriptions to see which one fits your needs, as interest rates and minimum balance requirements vary. Fill in the requested information, which usually includes how you want the account titled (in your name alone, or jointly with another person) and your preferred deposit method.

Review the account terms and the Metrobank Savings Account Agreement before confirming. Once you submit, the account is usually created when ready, and you can begin using it right away through Metrobank Online or at any Metrobank ATM.

If you are not yet a Metrobank customer

You will need to open a checking account first. Metrobank does allow you to open a checking account online if you have a valid government-issued ID and a Social Security number. Visit the Metrobank website and select the option to open a new checking account. The online process takes about 10 to 15 minutes.

After your checking account is approved and activated — which usually happens within one business day — you will receive your login credentials by email. At that point, you can log in and follow the steps above to open a savings account online.

Alternatively, you can visit a Metrobank branch in person to open both accounts at the same time. A banker can answer questions about which savings account option makes sense for your situation and can set everything up during one visit.

What you need to have ready

Before you start, gather a valid government-issued photo ID (a driver's license, passport, or state ID card). You will also need your Social Security number and information about how you want to fund the account — either a transfer from another bank account or a deposit you plan to make at a Metrobank branch or ATM.

If you are opening a joint account with another person, you will need their name, date of birth, Social Security number, and contact information as well. Metrobank will send account information to both account holders.

Minimum balance and account features

Metrobank savings accounts have a minimum opening deposit, though the amount varies depending on which savings product you choose. Some accounts require $100 to open, while others may have different minimums. Check the specific account details when you are choosing which type to open.

Most Metrobank savings accounts earn interest, but the rate changes based on market conditions and the account type. You can view the current rates on the Metrobank website or ask a banker when you open the account. Your savings account comes with online access, the ability to transfer money to your checking account, and the option to set up automatic transfers if you want to save a set amount each month.

Transferring money into your new savings account

Once your savings account is open, you can move money into it in several ways. Through Metrobank Online, you can transfer funds from your Metrobank checking account to your new savings account when ready. You can also set up a recurring transfer if you want a fixed amount to move over automatically each payday or on a date you choose.

If you want to deposit cash or a check, you can do that at any Metrobank branch or at a Metrobank ATM (for checks and some cash deposits, depending on the ATM). You can also transfer money from an account at another bank, though that transfer usually takes one to three business days to complete.

Frequently Asked Questions

Do I need to visit a branch to open a savings account with Metrobank?

No, if you already have a Metrobank checking account, you can open a savings account entirely online through Metrobank Online. If you are a new customer, you can open your checking account online first, then add the savings account online as well. Visiting a branch is optional but can be helpful if you have questions.

How long does it take to open a savings account online?

The online process usually takes 10 to 15 minutes. Your account is typically created when ready after you submit your information, and you can start using it right away through Metrobank Online or at an ATM.

What if I do not have a Social Security number?

Metrobank requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you have an ITIN, you can use that instead. Contact Metrobank directly to discuss your specific situation.

Can I open a joint savings account online?

Yes, you can open a joint savings account online if both account holders are existing Metrobank customers. If one person is new to Metrobank, that person will need to open a checking account first. You will need the other person's name, date of birth, Social Security number, and contact information to complete the joint account setup.

What happens if my online process is denied?

Metrobank will send you a notice explaining why. Common reasons include identity verification issues or a banking history concern. You can contact Metrobank customer service to ask questions or visit a branch to discuss other options.