Today’s article will discuss the difference between BDO Savings Accounts and Current Accounts. Opening a BDO savings account is similar to buying a new phone.
A real bank account can be opened by visiting a branch, presenting the documentation, signing a few documents, and that’s it.
There are still many people who don’t open one up. So if you are interested to open an account, listed below are the requirements needed.
Requirements for BDO Savings Accounts.
Please ensure that you already have all the following items before you visit BDO:
1. Two valid IDs (original and photocopy).
When opening a new BDO savings account, applicants may present any of the following IDs:
Philippine Postal ID.
Driver’s License issued by the Land Transportation Office (LTO).
Professional Regulations Commission (PRC) License/ID.
Tax Identification Number (TIN) ID.
New Social Security System (SSS) ID.
Government Service and Insurance System (GSIS) e-Card.
Overseas Filipino Workers (OFW) ID.
Senior Citizen ID/Card.
School ID (for minors).
A valid ID is required to apply to BDO. In addition to the 2 valid IDs above, make sure they are within their validity periods. The concept of a primary and secondary ID doesn’t exist. Even if you bring a passport, for example, you’ll still need to present an additional ID needed despite the fact that the passport has long been considered a primary one.
You should open a BDO savings account at a branch near where you live or where you work.
2. Deposits are required at the beginning.
Each savings account type requires a minimum initial deposit as shown below.
Type of the BDO Savings Account
Minimum Initial Deposit
Peso Passbook Savings (with or without ATM)
Peso ATM Debit Card (without passbook)
P30,000 (Personal) and P50,000 (Business)
Prime Savers Dollar
Direct Deposit Dollar
Australian Dollar Savings Account
Canadian Dollar Savings Account
Chinese Yuan Savings Account
Euro Savings Account
Great Britain Pound Savings Account
Hongkong Dollar Savings Account
Singapore Dollar Savings Account
Yen Savings Account
Peso Time Deposit
Premium Flexi Earner
Dollar Time Deposit
Dollar PRS (Philippine Retirement Authority)Time Deposit
as advised by PRA
Two Year Dollar Time Deposit
Three Year Dollar Time Deposit
Five Year Dollar Time Deposit