Best Bank to Open a Checking account

[numonorean]

^Yep, sis.  Kasama na.  Although, I'm not very fond of their service.   I opened mine with my company that's why I'm keeping it.  Pero I asked the terms if I were to keep it on my own.

[sachism]

with the citi ATM, can you withdraw sa ATM abroad with no charge?

[numonorean]

^^I don't think so, sis.  But don't quote me on it.   The deal we have with Citi, though, is no ATM fees when using Banknet or Megalink machines nationwide.

^No worries, sis.

[Frozen Toes]

Opened a regular checking account with BPI Fort-Serendra Branch. Wala akong account with BPI pero they allowed me naman na mag-open. It was quick. Katamad nga lang magfill up ng forms. I got the checkbook that same day. P 175 yung checkbook. Yung ATM naman, the following day ko pa nakuha. Yes, maintaining and initial deposit is P 10k. Meron din silang AccountOne Checking Account na ang maintaining and initial is P25k. Pero earning ng 1% interest 'to.

[sinichi]

buti natuloy ka sa BPI, yun ang pinaka okay for me so far =) I had a bad experience w/ Citibank. yung checkbook ng BPI eh Php 175 lang yung sa citi naman eh more than 300. sa Robinson's Pioneer Boni ako nag open pero pinakuha din yung tseke sa akin sa Ortigas (tabi ng Anson's) tapos kinaltasan nila ang savings ko kasi ang nag issue raw ng atm eh citibank ortigas at hindi raw yun ang mother branch ko.

[jmeangeL]

i love BPI's checking account.
kung meron kang iba pang account with BPI like an savings account, pwede itong ilink sa checking account mo.

magiging back up account sya in case that you forgot to fund your checks, doon nya sa SA kukunin ang fund.  no hassle and no charges!

[freelancer_babe]

I've tried scouting this one and I learned that the best bank to open one is where you have opened your savings account.

I have a savings account at BPI but I was turned off at the minimum balance requirement of P10k. That BPI savings account is where I collect my earnings regularly from a freelance site.

Yung nangyari sa case ko, I've "shopped" online for the universal/commercial bank that offers the minimum balance. I've avoided thrift and rural banks. Chinabank and BDO offered the lowest at P5k.

But I couldn't easily open pala on both banks. BDO has this strict requirement that I should have a savings account with them for 6 months. Yung Chinabank ganun din, but they would consider opening a checking account for me if I would submit bank statements from my BPI savings account.

I don't want to be wasting time travelling from BPI to Chinabank just to fund that checking account on another bank, so I decided to stick to BPI. Para sa online ko na lang gagawin ang fund transfer.

Well, it turned out that I was more than happy to have such an account, kahit na mataas ang minimum balance. Pwede palang i-encash ang check kahit saang BPI branch! It even gets deposited immediately to someone's BPI account na rin, so the clearing time is eliminated!

[mxherr5]

We had the same experience.. I was reluctant to go with BPI because of their 10k maintaining balance
even though I had a savings account with them.

So I shopped around for the cheapest(read lowest maintaining balance) checking account and
found Bank of Commerce with a maintaining balance of 2k.

Kinausap ko lang ang manager and showed bank statements to show that I can handle
a checking account. Pinagbigyan naman ako hehe

[freelancer_babe]

@mxherr
You're here too? LOL.

I'm consider opening a low-maintaining balance checking account just for PDCs (post dated checks) separate to my existing checking account. Mahirap palang magbalance ng checkbook kung merong mga PDCs issued in advance for so many months (like that required in housing loans).

Bank of Commerce is a nice find, and we have one branch pala dito which is outside SM.

PNB's budget checking account is not bad too - at P2,500 for maximum of 3 checks issued per month.

Pero baka patulan ko na rin ang P5k ng BPI Family, para online transfer na lang talaga ang lahat at di na ako bibisita ng banko. Lines are long sa banks rin dito.

[super bratinella]

You may try to inquire in RCBC Banks, they have checks designated to pay monthly amortization for only 2K maintaining balance.

[shineshinegray]

best and easiest way to open a checking account is with BPI. unlike other banks, you can open with BPI even if you dont have an existing savings account with them. as in bilis ng processing. 2 valid id's lang need for req. regular checking maintaining balance is 5k. not bad

[sachism]

anong BPI ang 5k sis at anong klaseng account? i thought kasi 10k. thanks. Mine is 10k.

[smiley327]

^i think it's BPI Family sis.

[shineshinegray]

anong BPI ang 5k sis at anong klaseng account? i thought kasi 10k. thanks. Mine is 10k.

sis smiley327 is right sis. BPI Family. i opened mine at Capitolyo-Shaw branch.

[freelancer_babe]

anong BPI ang 5k sis at anong klaseng account? i thought kasi 10k. thanks. Mine is 10k.

Yes, BPI Family branches allow you to open 5k accounts. regular BPI branches are 10k.

However, you can just encash BPI Family checks on any BPI Family branch nationwide, and you can just encash regular BPI checks on any regular BPI branch. You can't encash BPI Family checks on any regular BPI branch and vice versa.

There are more regular BPI branches than BPI Family branches. This is something to consider.

Go for regular BPI if you give out checks that will be convenient to the people whom you will issue checks. This was my choice since I'm giving checks every week to my mom (instead of cash, and she doesn't want to deal with any ATM/debit or credit card) and some few people whom I pay regularly. They won't go to that lone BPI FAmily bank that we have - they could just easily go to any regular BPI bank that they want.

Otherwise, it's much better to have that 5k BPI Family checks so you have better use of that extra 5k for other investments like mutual funds.

[Dacian]

bpi

[brattinella]

for those who want a Checking Account just for the sake of issuing PDCs.... you may want to check out Citystate Saving Bank... you just need 1,500 to open & maintain monthly:)

[freelancer_babe]

^ yun nga lang walang citystate savings bank dito sa amin.

bank of commerce na lang.

O kaya BPI Family - para online transfer na lang ang gagawin ko galing sa mga regular BPI accounts.

[cherubin]

PNB 3,500 lang maintaining balance.ang dali pa mag open at nagkalat ang branches

[freelancer_babe]

^ PNB Budget checking yan sis?

According to their website the maintaining balance is at P2,500.

However, the catch is, you are allowed 3 negotiated checks each month free of charge. I wonder kung magkano na ang aabutin kung lampas na diyan.

In addition, mahal din ang service fees nila, particularly yung dormancy and below the minimum balance fees.