What you need to bring and where to go

BPI (Bank of the Philippine Islands) lets you open a savings account in person at any of their branches. You will need a valid government-issued ID, proof of address (a utility bill or lease agreement dated within the last three months), and your Social Security System (SSS) number or Tax Identification Number (TIN). If you do not have a TIN yet, BPI can help you explore for one during the account opening process.

Walk into any BPI branch during business hours — most are open Monday through Friday from 9 a.m. to 3 p.m., and some branches open on Saturday mornings. You do not need an appointment. Tell the teller you want to open a savings account, and they will direct you to the appropriate desk. The whole process usually takes 30 to 45 minutes.

BPI also offers online account opening for certain account types, though this requires you to have an existing BPI account or a valid Philippine passport. If you are opening your first account, the in-person route at a branch is the standard path.

Key Takeaways

  • Bring a valid government ID, proof of address dated within three months, and your SSS number or TIN to any BPI branch during business hours.
  • The account opening process takes 30 to 45 minutes and requires you to sign documents and provide basic personal information.
  • BPI offers several savings account types with different minimum opening deposits, ranging from as low as 1,000 pesos for some accounts to higher amounts for premium options.
  • Your account becomes active when ready after approval, and you receive a debit card and passbook or digital access depending on the account type.
  • Monthly maintenance fees vary by account type, and some accounts waive fees if you maintain a minimum balance or meet other conditions.

Documents the teller will ask you to complete

The teller will hand you a signature card and a new account form. The signature card is a single page where you sign your name exactly as it appears on your ID — BPI uses this to verify your signature on future transactions. The new account form asks for your full name, date of birth, address, occupation, and contact information. You will also provide your SSS number or TIN on this form.

You will be asked to choose a PIN (personal identification number) for your account, which you will use at ATMs and for online banking. Write this down somewhere safe but separate from your debit card. BPI will also ask you to read and sign a deposit agreement that outlines the terms of your account — interest rates, fees, and your rights as a depositor. This document is standard across all BPI savings accounts.

If you are opening the account for a minor (someone under 18), a parent or legal guardian must be present and sign the documents as well. The minor's ID is still required, along with the guardian's ID and proof of relationship, such as a birth certificate.

Minimum deposit and account types

BPI offers several savings account options, and the minimum opening deposit depends on which type you choose. The BPI Savings Account (their basic option) typically requires a minimum opening deposit of 1,000 pesos. The BPI Savings Account Plus, which includes additional features like higher interest rates, may require 5,000 pesos or more. Premium accounts aimed at higher-balance customers can require 50,000 pesos or more.

You can bring cash or a check to cover the opening deposit. If you bring a check, it must be drawn on a Philippine bank and made payable to BPI. The teller will deposit this into your new account when ready. If you bring cash, the teller will count it in front of you and issue a receipt.

After your account opens, BPI will mail your debit card to the address you provided, usually within 5 to 7 business days. You will receive a passbook (a physical record of your transactions) at the branch when ready, or you can choose digital statements instead. Your account is active and ready to use as soon as the teller completes the paperwork, even if your debit card has not arrived yet — you can make deposits and withdrawals at the branch or through online banking once you set up your login credentials.

Monthly fees and how to avoid them

BPI charges a monthly maintenance fee on most savings accounts, typically ranging from 100 to 300 pesos depending on the account type. However, many accounts waive this fee if you maintain a minimum average daily balance throughout the month. For example, a basic savings account might waive the 100-peso fee if your balance stays at or above 5,000 pesos.

Other ways to avoid or reduce fees include setting up automatic salary deposits (some accounts waive fees if you receive a regular paycheck deposited directly) or maintaining a combined balance across multiple BPI accounts. Ask the teller which fee-waiver options explore to the specific account type you are opening.

BPI also charges fees for certain transactions: withdrawals beyond a set number per month, transfers to other banks, and ATM usage outside the BPI network. These fees vary and change periodically, so confirm the current schedule with your teller before you leave the branch.

Setting up online banking and your debit card

Before you leave the branch, ask the teller to help you register for BPI Online, BPI's internet banking platform. You will need to create a username and password. Write down your username and keep it somewhere safe — you will use this to log in from any computer or phone to check your balance, transfer money, and pay bills.

Your debit card will arrive by mail within 5 to 7 business days. When it arrives, you must set up it by calling the number on the back of the card or using BPI Online. You will be asked to set a PIN for card transactions (this is separate from your online banking password). Once activated, you can use the card at any ATM displaying the Visa or Mastercard logo, or at merchants that accept cards.

BPI's mobile app, BPI Mobile, lets you check your balance, transfer money, and pay bills from your phone. You can read it from the Google Play Store or Apple App Store and log in with the same username and password you created for BPI Online.

What happens after you leave the branch

Your account is active when ready. You can deposit money at any BPI branch or ATM, and you can withdraw cash at any BPI ATM or branch. If you set up direct deposit with your employer, your paycheck will be deposited automatically on payday.

BPI will send you a welcome letter and account statements by mail or email (depending on what you chose). Your first statement will show your opening deposit and any fees charged. Keep this statement for your records.

If you lose your debit card or forget your PIN, visit any BPI branch with your ID and passbook. The teller can issue a replacement card or reset your PIN on the spot. If you need to close the account later, you can do this at any branch — bring your debit card and passbook, and the teller will process the closure and return any remaining balance to you.

Interest rates and how your money grows

BPI savings accounts earn interest on your balance, but the rate varies depending on the account type and your balance level. Basic savings accounts typically earn between 0.25% and 1% per year, while higher-tier accounts may offer rates up to 2% or more. Interest is usually credited to your account monthly or quarterly — check your account agreement to see the schedule.

The interest you earn is calculated on your average daily balance throughout the month. This means that if you maintain a higher balance for longer, you earn more interest. For example, if your account earns 0.5% annually and your average daily balance is 10,000 pesos, you would earn approximately 50 pesos per year (or about 4 pesos per month).

Interest rates change periodically based on BPI's policies and economic conditions. You can check your current rate by logging into BPI Online, calling BPI's customer service line, or visiting a branch. Your monthly statement will also show the interest credited to your account.

Frequently Asked Questions

Do I need to be a Philippine citizen to open a BPI savings account?

No. Foreign nationals can open a BPI savings account with a valid passport, visa, or travel document, plus proof of address. Some branches may ask for additional documentation, so call ahead to confirm what you need to bring.

Can I open a BPI savings account online without visiting a branch?

BPI offers online account opening through their website, but this typically requires you to already have a BPI account or a valid Philippine passport. If you are opening your first account, you will need to visit a branch in person.

What is the difference between a BPI Savings Account and a BPI Savings Account Plus?

The main differences are the minimum opening deposit (Plus accounts require more), the interest rate (Plus accounts typically earn higher rates), and the monthly maintenance fee (Plus accounts may charge more but offer more features). Ask the teller which account type fits your needs and budget.

How long does it take to receive my debit card after opening an account?

BPI typically mails your debit card within 5 to 7 business days. You can use your account at BPI branches and ATMs before the card arrives by using your passbook or logging into BPI Online.

What should I do if I forget my online banking password?

Log into BPI Online and click "Forgot Password" to reset it. You will be asked to verify your identity using information from your account. If you cannot reset it online, visit any BPI branch with your ID and passbook, and a teller can help you regain access.