What you need to bring to BDO

BDO (Banco de Oro) requires two forms of identification and proof of your current address before you can open a savings account. One ID must be government-issued with your photo — a passport, driver's license, or national ID card. The second can be any valid ID, including a company badge, school ID, or another government document.

For proof of address, bring a recent utility bill, lease agreement, or government document showing your name and current home address. The document should be dated within the last three months. If you don't have a utility bill in your name, a lease or rental agreement works just as well.

You'll also need to bring money to fund the account. BDO savings accounts have a minimum opening deposit that varies by account type — some accounts require as little as 1,000 pesos, while others may ask for more. Ask the bank teller which account types are available and what each one requires before you hand over your documents.

Key Takeaways

  • Bring two forms of ID (one with your photo) and proof of your address dated within three months to any BDO branch.
  • You will need an opening deposit, which ranges depending on the account type you choose — ask the teller what each option requires.
  • The entire process usually takes 15 to 30 minutes if you have all your documents ready.
  • BDO will issue you a passbook or debit card to access your account, depending on which product you open.

The step-by-step process at the branch

Walk into any BDO branch during business hours and go to the customer service desk or the new accounts area. Tell the staff member you want to open a savings account. They will hand you an account opening form to fill out — this asks for your name, address, date of birth, employment status, and contact information. Fill it out completely and legibly, because errors on this form can delay your account setup.

Hand the completed form and your two IDs and address proof to the staff member. They will review your documents to make sure everything is there and readable. Once they confirm everything is in order, they'll ask you how much you want to deposit to start the account. Tell them the amount, and they'll process the deposit and create your account.

At the end, BDO will give you either a passbook (a small booklet that records your deposits and withdrawals) or a debit card, depending on which savings product you chose. Some accounts come with both. Keep your passbook or card safe — you'll need it to withdraw money or check your balance at any BDO ATM.

Types of BDO savings accounts

BDO offers several savings account options, and the one you choose depends on how much money you plan to keep in the account and how often you'll use it. The BDO Savings Account is the most basic option and usually has the lowest minimum opening deposit. It earns a small amount of interest on your balance, though the rate is low.

The BDO High-Yield Savings Account pays more interest, but typically requires a higher minimum balance to earn that rate. If you plan to keep a larger amount in savings and leave it there, this account may earn you more money over time. Ask the teller what the current interest rate is, because it changes.

BDO also offers accounts designed for specific groups — students, seniors, and overseas workers may have special account options with different fees or requirements. If any of these categories explore to you, mention it when you arrive, and the staff can show you what's available.

What happens after you open the account

Once your account is open, you can deposit money at any BDO branch or ATM. You can withdraw money the same way. If you received a debit card, you can also use it to buy things at stores and online, and to withdraw cash from any ATM that accepts your card's network (usually Visa or Mastercard).

BDO will send you a monthly or quarterly statement showing all your deposits, withdrawals, and interest earned. You can also check your balance anytime by visiting an ATM, calling BDO's customer service line, or using the BDO mobile app if you set one up. Keep your statements and passbook together in a safe place — you may need them to prove your account history later.

If you have questions about your account after opening it, you can visit any BDO branch, call their customer service number, or use their online banking platform. BDO staff can help you understand your interest rate, explain fees, or help you move money between accounts.

Fees and things that cost money

Most BDO savings accounts have no monthly maintenance fee as long as you keep a minimum balance in the account. If your balance falls below that minimum, BDO may charge you a small monthly fee. The minimum varies by account type, so ask the teller what it is for the account you're opening.

Other charges you might encounter include fees for withdrawing money at a non-BDO ATM, fees for transferring money to another bank, or fees if you close your account within a certain time period. These fees are usually small, but it's worth asking about them upfront so you're not surprised later.

Interest earned on your savings is not a fee — it's money BDO pays you for keeping your money in their account. The amount depends on your account type and your balance. Even if the interest is small, it's still information programs, so it's worth keeping your savings in the account rather than under your mattress.

If you can't visit a branch in person

BDO also allows some people to open accounts online or through their mobile app, though this option is not available to everyone. If you already have a BDO account, you may be able to open a second savings account without visiting a branch. If you're a first-time customer, you will likely need to visit a branch at least once to verify your identity in person.

Some employers and schools have partnerships with BDO that allow employees or students to open accounts through their workplace or campus. If this applies to you, ask your employer or school whether they offer this service — it can be faster than going to a branch on your own.

Frequently Asked Questions

Can I open a BDO savings account if I don't have a job?

Yes. BDO does not require you to be employed to open a savings account. You will still need to fill out the account opening form, which asks about your employment status, but being unemployed or self-employed will not stop you from opening an account. Bring your two IDs, address proof, and opening deposit.

What if I lose my passbook or debit card?

Visit any BDO branch and tell them you lost it. They can issue you a replacement passbook or reissue your debit card. There may be a small fee for a replacement card, but passbook replacements are usually free. Until you get a replacement, you can still access your money by visiting a branch and asking a teller to help you withdraw.

How long does it take to open an account?

If you have all your documents ready and the branch is not busy, the process usually takes 15 to 30 minutes from start to finish. During busy times, it may take longer. Arriving early in the morning or on a weekday afternoon usually means shorter wait times than visiting on a Friday or payday.

Can I open an account for someone else, like a child?

Parents or guardians can open savings accounts for children, but the rules vary by age. For very young children, you may need to open a joint account where you are listed as the account owner. Bring the child's birth certificate along with your ID and address proof. Ask the teller what documents you need for the child's age.

What's the difference between a savings account and a checking account at BDO?

A savings account earns interest on your balance and is meant for money you want to keep. A checking account (called a current account at BDO) is for frequent deposits and withdrawals, usually for business or payroll purposes, and typically does not earn interest. For most people new to banking, a savings account is the right choice.