What you need to open an RCBC savings account

RCBC (Rizal Commercial Banking Corporation) offers several types of savings accounts, and the documents you bring depend on which one you choose. The most common option for someone new to banking is the RCBC Savings Account, which requires a minimum opening deposit (the amount varies by branch and changes over time, so ask when you visit) and two forms of identification.

Your first form of ID should be a government-issued photo ID — a passport, driver's license, national ID, or PRC license all work. Your second ID can be another photo ID or a document that shows your current address, like a utility bill, lease agreement, or government-issued mail. RCBC also accepts a TIN (Tax Identification Number) as proof of address if you have one.

You will also need to bring proof that you can make the opening deposit — usually a check, cash, or a debit card from another bank. Some branches allow you to transfer money from another account during the opening process, but call ahead to confirm your branch does this.

Key Takeaways

  • You need a government-issued photo ID, a second form of ID or proof of address, and money for the opening deposit to start an RCBC savings account.
  • RCBC has different savings account types with different minimum deposits, so ask which account fits your situation when you arrive at the branch.
  • You can open an account in person at any RCBC branch during business hours — there is no online-only option for new customers.
  • The account opens the same day you visit, and you receive a passbook and debit card within a few days.
  • RCBC charges a monthly maintenance fee on most savings accounts, so ask what the fee is and what balance keeps it waived.

Steps to open your account at an RCBC branch

Visit any RCBC branch during business hours with your documents and opening deposit. Tell the teller or customer service representative that you want to open a savings account. They will ask you to fill out an account opening form — this is a single sheet that asks for your name, address, date of birth, employment information, and contact details. You do not need to memorize anything; the form guides you through what to write.

The teller will review your documents, verify your information, and process your opening deposit. This takes about 15 to 20 minutes. Once complete, you will receive a passbook (a small booklet that records your deposits and withdrawals) and temporary debit card information. Your physical debit card arrives by mail within three to five business days.

Before you leave, ask the teller three things: the monthly maintenance fee, what balance or activity keeps the fee waived, and how to check your balance by phone or online. Write these down — you will need them later.

Which RCBC savings account to choose

RCBC offers the basic RCBC Savings Account and the RCBC Savings Plus Account. The Savings Account is the simpler option and works well if you are new to banking — it has a lower opening deposit and fewer requirements. The Savings Plus Account offers higher interest rates but usually requires a larger opening deposit and a higher balance to avoid the monthly fee.

Ask the teller which account is right for you based on how much you plan to keep in the account. If you are saving small amounts and do not have much to deposit at first, the basic Savings Account is the better choice. If you have a larger amount to deposit and want to earn more interest, Savings Plus may work better — but the teller can explain the exact numbers for your branch.

What happens after you open your account

Your account is active the moment the teller processes it. You can deposit money at any RCBC branch using your passbook, and you can withdraw using your passbook or debit card once it arrives. You can also set up a salary deposit if your employer uses RCBC — ask the teller for the account details to give your employer.

RCBC charges a monthly maintenance fee on most savings accounts. The fee is waived if you maintain a certain balance (the amount depends on your account type and branch) or if you make a certain number of transactions each month. Ask the teller what the threshold is for your account so you know what to aim for.

You will receive statements by mail or can check your balance by visiting a branch, calling RCBC's customer service line, or using RCBC's online banking platform once you set up a username and password.

Setting up online banking and a debit card

Your debit card arrives in the mail within three to five business days. Once it arrives, you can use it to withdraw cash at any RCBC ATM or to make purchases at stores and online. You will need to set a PIN (personal identification number) — the card comes with instructions on how to do this at an ATM or by calling customer service.

To use online banking, visit the RCBC website and look for the "Register" or "Enroll" link. You will need your account number (on your passbook), your debit card number, and your date of birth. Once you register, you can check your balance, transfer money between your own accounts, and see your transaction history from home.

Online banking is optional — you can manage your account using your passbook and visiting branches if you prefer. But setting it up gives you a way to check your balance without leaving home.

Fees and charges to know about

RCBC charges a monthly maintenance fee on savings accounts. The exact amount varies by account type and branch, so ask when you open your account. Most branches waive the fee if you keep a minimum balance (often around 5,000 to 10,000 pesos, though this varies) or if you make a certain number of deposits or withdrawals each month.

You may also pay a fee if you withdraw cash at an ATM that is not RCBC-owned, if you request a replacement debit card, or if you ask the bank to stop a payment. These fees are small but add up if you use these services often. Ask the teller for a complete fee schedule so you know what to expect.

Interest rates on savings accounts are low — usually less than 1 percent per year — but your money is safe and grows slightly over time. The interest is calculated monthly and added to your account.

What to do if you cannot visit a branch in person

RCBC does not offer a way to open a savings account online or by mail if you are a new customer. You must visit a branch in person with your documents and opening deposit. However, if you live far from an RCBC branch, you can visit any RCBC branch in the country — the account opens at whichever branch you visit, and you can manage it from any branch afterward.

If you have a family member or trusted friend who can visit a branch on your behalf, ask RCBC whether they can open an account with a power of attorney (a legal document that gives someone permission to act for you). Call your nearest RCBC branch to ask about this option before you try it.

Frequently Asked Questions

Can I open an RCBC savings account if I do not have a job?

Yes. RCBC does not require proof of employment to open a savings account. The account opening form asks for employment information, but you can write "self-employed," "student," "retired," or "none" if that applies to you. The bank cares that you can make the opening deposit, not where your money comes from.

What if I lose my passbook or debit card?

Visit any RCBC branch and tell the teller your card or passbook is lost. They will cancel it when ready so no one else can use it, and they will order a replacement. A replacement passbook usually arrives within a few days, and a replacement debit card within one to two weeks. You may pay a small replacement fee.

Can I have more than one savings account at RCBC?

Yes. You can open multiple savings accounts at different branches or at the same branch. Each account has its own passbook and debit card. This can be useful if you want to save for different goals, but remember that each account has its own monthly maintenance fee.

How much money do I have to keep in the account?

There is no rule that says you must keep a certain amount in the account after you open it. However, most RCBC savings accounts charge a monthly maintenance fee unless you keep a minimum balance or make a certain number of transactions. Ask the teller what the minimum balance is for your account type so you can plan accordingly.

Can I withdraw all my money at once?

Yes. You can withdraw your entire balance at any time by visiting a branch with your passbook or debit card, or by using an ATM with your debit card. There is no penalty for withdrawing money, though large withdrawals (over 50,000 pesos) may require advance notice so the branch has enough cash on hand.