Bdo Savings Account

admin 4/3/2022

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Banco De Oro (BDO) is one of the most noticeable banks here in the Philippines. Furthermore, they offer some services that other banks don’t; in contrast, some banks also offer services that BDO doesn’t. With that in mind, you may be wondering if BDO reactivates or reopens a now closed/deactivated account. In our previous article, we mentioned that once your bank closes/deactivates your account, you can no longer reopen it. But given that BDO is a bank that a lot of Filipinos look up to, do they give this exemption? Moreover, does their tag line “We find ways” apply in this kind of scenario?

Bdo Savings Account Terms And Conditions
Bdo Savings Account Online Application
Bdo Savings Account Application Requirements

Pick a BDO Savings Account Type. Each account has a similar gross interest rate (except for the. Click here to know about Terms and Conditions Governing Deposit Accounts. In adherence to the requirements of the Anti Money Laundering Council, BDO reserves the right to require the submission of additional document/s it may deem necessary. Your BDO Kabayan Savings Account is your key to a better future as you start your life aboard. By having an account, you build credit history with the bank, making it easier for you to apply for a car, home, or business loan in the Philippines.

Before we answer that, you may be wondering how BDO closes or deactivates an account. As far as banking concerns, if you are not at par with the agreement you had with the bank, your bank has the option to close the account or to deactivate it.

What is a deactivated BDO account?

In shorter and simpler terms, a deactivated BDO account is an account that can neither accept any more remittances nor transfer funds and deposits. BDO can choose to deactivate your savings or passbook accounts if you weren’t able to cope with the required minimum amount; or some other reason.

Can I reactivate or reopen a closed BDO Account?

To finally answer the question, No, you cannot reactivate an already closed BDO Account. It’s public general information that once a bank account closes, it can no longer accept remittances or transfer funds.

What can I do if my BDO Account closes?

If the account closes, you should not worry because this does not mean you cannot be with BDO anymore. Of course, you can open a new bank account with a different BDO Account Number. Furthermore, you need to bring the required documents for you to successfully open a new savings or passbook account.

Since this is a new application, you are required to go through the same process of getting a new BDO account.

What can I do to avoid closure of my BDO Account?

You should be able to know the terms and conditions if you open a bank account. From here, you will be able to know the do’s and don’ts in order for you to be sure that your account doesn’t close.

However, for your convenience, the following guidelines should be followed for your account to be safe from closure/deactivation:

Ensure that your account holds the minimum maintaining balance; if not, BDO may charge you with below maintaining balance fees and failure to pay these may result to closure.
Be sure to transact at least twice (two times) a year (either deposit or withdraw)
For you to monitor or follow what’s happening to your account, enroll yours in BDO Online Banking. You will also be notified via text messages or email about your account if in any case it’s at risk of closure.

Read: Can You Reopen A Closed Bank Account In The Philippines?

No one likes their dear bank accounts to be closed, right? For us to be sure with this, we just have to follow the steps on how we can successfully reach the other side without our BDO accounts closing.

If you have further queries or concerns, you can post a question here or you can contact BDO directly at:

Email Address: [email protected]
Metro Manila: (+632)631-8000
Domestic Toll-Free Nos:
1800-10-631-8000 (PLDT)
1800-3-631-8000 (Digitel)
1800-5-631-8000 (Bayantel)
1800-8-631-8000 (Globelines)

Read Also: How to Open UnionBank Savings Account

Previously, me and my lovely wife opened a joint savings account in BDO for our emergency fund. We want to have a separate savings account for our emergency fund aside from other savings account we have.

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So we went to the nearest BDO branch in our area and advised the teller we’re going to open a joint savings account.

If you’re planning to open a joint savings account in BDO too, this short article might help you.

Joint savings account in BDO requirements

2 pcs. of 2×2 latest photo
valid I.D(original and photocopy)
proof of billing(should be the same address with any of your valid I.D)
initial deposit (P2,000) for ATM joint savings account

*New requirement:

TIN number (in earlier part of 2016, almost all establishments doing financial transactions ask to require TIN numbers from their clients/customers)

Steps in opening joint savings account in BDO

1. Prepare all the requirements and visit the nearest BDO branch in your area.

*Reminder: BDO has a new policy to refer the applicant to the nearest branch in their area based from your valid I.D and proof of billing address.

2. Go to the new account section and advise that you want to open a BDO joint savings account. The teller will check the requirements and will provide the application form for you to fill up.

3. Fill-up and complete the application form. Make sure all information are correct. You will also be asked what type of joint savings account you’re going to open.

Me and my wife chose to open an “OR” BDO joint savings account so we can have both the ATM and we can withdraw anytime(for emergency) without having the consent of each other.

4. Submit the application form. We also advised the teller to have it open or activated for BDO online banking. The teller will provide all the details and will inform you when you can claim the ATM card. In our case, it took 3 business days.

*Tip: We were asked to present a valid I.D that has the same address with our proof of billing. And since we were just “new” in our place, our I.D are in different addresses. We tried to “beg” the teller but unfortunately she didn’t allowed.

Instead, we were advised to get a barangay clearance where we live before they can completely process the application.

So we’re not able to open a joint savings account in BDO that day. We have to acquire barangay clearance first. We went to the barangay hall in our place and requested for a clearance. We paid P50. After a day, we went back to BDO and apply again for joint savings account. Everything was settled.