What you need to bring to BDO

BDO requires two forms of identification and proof of address before you can open a savings account. One ID must be government-issued with a 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, bank statement, or lease agreement dated within the last three months. Your name must appear on the document. If you do not have a utility bill in your name, a letter from your landlord or a government agency with your current address will work.

You will also need to provide your Tax Identification Number (TIN) or Social Security Number (SSN) if you have one. If you do not have either, BDO can still open your account, but you may face limits on transaction amounts until you provide a TIN later.

Key Takeaways

  • Bring a government-issued photo ID, a second form of ID, and proof of address dated within three months to any BDO branch.
  • BDO offers several savings account types — Regular Savings, Passbook Savings, and Online Savings — each with different minimum balances and features.
  • The entire account opening process takes 15 to 30 minutes in the branch, and your account becomes active the same day.
  • You can deposit money when ready after opening, and your passbook or debit card will be issued before you leave the branch.
  • If you open an account online through BDO's website, you still need to visit a branch to verify your identity and complete the process.

Choosing which BDO savings account type fits your needs

BDO offers three main savings account structures, and the one you choose depends on how often you plan to withdraw money and how much you want to keep in the account. Regular Savings requires a minimum opening balance of 1,000 pesos and allows unlimited deposits and withdrawals. This is the most flexible option if you need to move money in and out frequently.

Passbook Savings works the same way as Regular Savings but comes with a physical passbook instead of a debit card. Some customers prefer this if they want a paper record of every transaction, though you can also check your balance online or at an ATM. The minimum opening balance is also 1,000 pesos.

Online Savings has a higher minimum opening balance — usually 10,000 pesos — but pays a higher interest rate on your balance. You manage the account entirely through BDO's mobile app or website, with no physical card or passbook. This account type is best if you plan to leave money in the account for longer periods and do not need frequent in-person withdrawals.

The step-by-step process at a BDO branch

Walk into any BDO branch during business hours and go to the new accounts desk. 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 the type of account you want. The form takes about five minutes to complete.

Hand the completed form and your identification documents to the staff member. They will photocopy your IDs and proof of address, verify the information, and enter your details into their system. This step usually takes 10 minutes. They will then ask you to sign the signature card — a document that records your official signature for the bank's records.

Once your signature is recorded, you can make your first deposit. The minimum is 1,000 pesos for Regular or Passbook Savings, or 10,000 pesos for Online Savings. You can pay in cash or with a check. The staff will count your deposit, record it in the system, and issue your passbook or temporary debit card before you leave. If you opened an Online Savings account, your debit card will arrive by mail within five to seven business days.

Opening a BDO savings account online and finishing in branch

BDO allows you to start the account opening process on their website or mobile app, which saves time when you arrive at the branch. Go to the BDO website, select "Open an Account," and choose your account type. You will enter your personal information, contact details, and employment status. The system will ask for a photo of your government ID and a selfie to verify your identity.

After you submit the online form, BDO sends you a confirmation email with a reference number. You then have 30 days to visit a BDO branch with your original identification documents and proof of address. The branch staff will verify that the documents match what you submitted online, confirm your identity in person, and process your first deposit. This in-branch step takes about 10 to 15 minutes and is required — you cannot complete the account opening entirely online.

The advantage of starting online is that the branch staff can move faster because they already have your information in the system. If you skip the online step and walk in cold, the entire process takes 25 to 30 minutes instead of 10 to 15.

What happens after you open your account

Your account becomes active when ready after you make your first deposit. You can use your passbook or debit card to withdraw money from any BDO ATM right away. If you opened a Regular or Passbook Savings account, your debit card is issued on the spot. If you opened Online Savings, a debit card will be mailed to your address within five to seven business days.

BDO will send you a welcome package by mail within two weeks that includes your account number, PIN instructions, and information about online banking. You can set up online access to your account through the BDO website or mobile app using your account number and a temporary password. Change this password the first time you log in.

Interest on your savings begins accruing from the day you make your first deposit. The interest rate varies depending on your account type and your balance — Online Savings accounts earn higher rates than Regular Savings. BDO credits interest to your account monthly, and you can see the amount in your passbook or online statement.

Fees and costs you should know about

BDO does not charge a monthly maintenance fee on Regular Savings or Passbook Savings accounts as long as your balance stays above 1,000 pesos. If your balance falls below 1,000 pesos, BDO charges a monthly service fee of 50 pesos until you bring the balance back up. Online Savings accounts have a higher minimum balance requirement of 10,000 pesos, and the same 50-peso fee applies if you drop below that.

Other fees explore to specific transactions. Withdrawals at BDO ATMs are free, but withdrawing at another bank's ATM costs 11 pesos per transaction. Transferring money to another bank through BDO costs between 50 and 100 pesos depending on the receiving bank. Requesting a replacement passbook costs 50 pesos. These fees are standard across BDO and do not change based on your account type.

Interest earned on your account is not taxed by BDO — the bank does not withhold anything. However, the interest you earn may be subject to income tax depending on your total income for the year. This is a tax matter between you and the Bureau of Internal Revenue, not something BDO handles.

What to do if you cannot visit a branch in person

BDO does not allow account opening by mail or phone. You must appear in person at a branch with your original identification documents. However, if you live far from a BDO branch, you can visit any BDO branch in the country — you do not have to go to a specific location. BDO has branches in most cities and towns, and you can find the nearest one using their branch locator on the website.

If you are outside the Philippines, you cannot open a BDO savings account remotely. You must be physically present in a BDO branch in the Philippines. Some overseas Filipino workers open accounts when they return home on leave, or they ask a family member to open an account on their behalf using a special power of attorney form. If you choose this route, the family member must bring the original power of attorney document, notarized and signed by you, along with their own identification.

Frequently Asked Questions

Can I open a BDO savings account if I do not have a government ID?

No. BDO requires at least one government-issued photo ID. If you do not have a passport, driver's license, or national ID, you will need to get one first. You can use a company ID or school ID as your second form of identification, but one of your two IDs must be government-issued.

How much money do I need to open a BDO savings account?

The minimum opening deposit is 1,000 pesos for Regular Savings and Passbook Savings accounts. Online Savings accounts require a minimum opening deposit of 10,000 pesos. You can deposit more than the minimum, but you cannot open an account with less.

Can I open a BDO account for someone else?

Only if you have a notarized power of attorney signed by that person. You must bring the original power of attorney, your identification, and the account holder's identification documents to the branch. The account holder cannot be present. This process is less common and may take longer than a standard account opening.

What is the difference between a passbook and a debit card?

Both let you access your money, but a passbook is a paper record of every transaction, while a debit card lets you withdraw from ATMs and make purchases at stores. Passbook Savings accounts come with a passbook and no debit card. Regular Savings and Online Savings accounts come with a debit card. You can request a passbook for a Regular Savings account for an additional fee if you want both.

When does interest start earning on my BDO savings account?

Interest begins accruing from the day you make your first deposit. BDO calculates interest daily based on your account balance and credits it to your account once a month. The exact interest rate depends on your account type and current balance, and BDO publishes these rates on their website.