Here in the Philippines, there are a variety of banks you could choose from to be in partnership with. Banks differ from the benefits they can give you. Although these banks are too many to mention, we’ve compiled the most common banks to Filipinos and their:

  • Minimum/Required Initial Deposit
  • Maintaining Balance
  • Penalty (If below maintaining balance)

Banco De Oro Unibank or BDO

Account Type Description Minimum /Required Initial Deposit Maintaining Balance  Penalty if Below Maintaining Balance
ATM Savings


Enjoy withdrawing cash or paying through the ATM Debit card Php2,000.00 Php2,000.00 Php300.00
Peso Checking Account An affordable way to secure your payments via cheque and enjoy the convenience of an ATM Debit Card for personal accounts. Php5,000.00 Both personal and business Php5,000.00 Php300.00
Passbook Savings If the intention is really to save money, then this account is the best type of account. Php5,000.00 Php10,000.00 Php300.00
Optimum Savings BDO Peso Savings Account Product that gets higher interest rates as you build up your deposit balance. Personal:


BDO Cash Card This type of account is a prepaid, reloadable card. Reloading can be via any BDO branch or ATM and pay only P15 for every cash reload.


It is 24/7 through BDO Online, Mobile or Phone Banking (Note: Enrollment requires regular BDO deposit account)


No need to open. Pay the card at only Php150.00 None None
BDO Kabayan Savings


For OFWs and their beneficiaries. The requirement is that they must remit at least once a year to keep the zero maintaining balance feature. If not, the account will be converted to regular account with a maintaining balance of Php10,000.00. Php100.00 None None
Junior Savers The best way to teach a child to save. Php100.00 Php100.00 Php300.00
Prime Savers Prime Savers is for 60 years olds and up. Enjoy priority in servicing your transactions and get special forex rates.


Php2,000.00 Php2,000.00 Php300.00
Direct Deposit The easy and fast way to get your US pension is through your Direct Deposit Peso Savings Account. None None None

Read: How To Enroll BDO Online Banking From Abroad

Bank of the Philippine Islands

Account Type Description Minimum /Required Initial Deposit Maintaining Balance  Penalty if Below Maintaining Balance
Express Teller Savings


An affordable Savings account that provides a 24-hour superior banking convenience. Php500.00 Php3,000.00 Php300.00
Passbook Savings A liquidated asset that offers individuals a convenient way to save. Php10,000.00 Php10,000.00 Php300.00
Jumpstart Savings You may be away from home but you can teach your kids the value of saving. Jumpstart is a savings account that teaches children how saving money can be fun. Php100.00 Php1,000.00 Php300.00
Kaya Savings This gives client a worry-free option when it comes to saving. Php200.00 N/A Php300.00
Maxi-Saver With Maxi-saver, one can get the best possible earnings. Php50,000.00 Php50,000.00 Php300.00
Pamana Savings Account Beyond the savings devoted for your family and loved ones. It comes with a Free Life Insurance worth 3x your account balance Php25,000.00 -Debit Card;


Php75,000.00 -Passbook

Php25,000.00 -Debit Card;


Php75,000.00 -Passbook


East West Bank

Account Type Description Minimum /Required Initial Deposit Maintaining Balance  Penalty if Below Maintaining Balance
Basic Savings Savings


This is the most affordable interest earning savings account. Php100.00 Php100.00 Php500.00
Regular Savings with Debit Card Asavings account evidenced by a debit card Php2,000.00 Php2,000.00 Php500.00
Passbook Savings It’s an interest-bearing Peso deposit account that allows client to deposit and withdraw funds anytime by presenting a passbook. Php5,000.00 Php5,000.00 Php500.00
Basic Checking An affordable checking account that comes with a checkbook and a debit card. Php1,000.00 Php1,000.00 Php500.00
Regular Checking It’s a non-interest-bearing Peso checking account wherein funds can be withdrawn through the issuance of checks. Individual:
Kiddie Savings Account This however, is an interest-earning peso savings deposit account for children that is evidenced by a passbook. Php2,000.00 Php2,000.00 Php500.00
Super Saver A savings deposit account that pays interest in increasingly higher amounts as account balance increase. Php500,000.00 Php500,000.00 Php500.00

Land Bank

AccountType Description Minimum /Required Initial Deposit Maintaining Balance  Penalty if Below Maintaining Balance
ATM Savings Account


An interest-bearing peso savings account wherein deposit transactions are made over-the-counter and through the Cash Deposit Machine (CDM) during official banking hours/days. Php500.00 Php500.00 Php200.00
Current Account with ATM access A non-interest bearing peso account wherein withdrawals are made either through the issuance of a check or via ATM 24 hours a day, 7 days a week. Php5,000.00 Php5,000.00 Php200.00
Easy Savings Plus A premium savings account which offers higher interest rates versus a regular savings account and are tiered based on ADB levels. Php20,000.00 Php20,000.00 Php200.00
Peso E.A.S.Y Check with ATM Access An interest-bearing peso checking account (IBCA) wherein deposits are made over-the-counter while withdrawals are made through the issuance of a check. Php10,000.00 Php10,000.00 Php200.00
Regular Current Account A non-interest-bearing peso account, also known as “Checking or Demand Deposit” account, wherein deposits are made over-the-counter and withdrawals are made through the issuance of a check. Php5,000.00 Php5,000.00 Php200.00
Regular Passbook Savings Account -An interest-bearing peso-account which requires presentation of a passbook for deposit and withdrawal transactions. Php10,000.00 Php10,000.00 Php200.00


AccountType Description Minimum /Required Initial Deposit Maintaining Balance  Penalty if Below Maintaining Balance
e-Teller (ATM Savings Account)


This gives you options to keep your money safe and earn interest depending on your needs and goals evidenced by an ATM card. Php2,000.00 Php2,000.00 Php300.00
Passbook Savings with ATM Saves your money using a Passbook. In addition, you have the option to have an ATM card. Php10,000.00 Php10,000.00 Php300.00
Fun Savers Club (for kids) Metrobank Fun Savers Club is a fun and educational way to let your children learn the basics of saving money. Php100.00 Php500.00 Php300.00
Regular Checking Account With Metrobank Regular Checking Account, you can pay your bills, debt, loans, or amortization by issuing a check which is safe and convenient. Furthermore, you are allowed to make deposits in form of cash or check. Php10,000.00 Php10,000.00 Php300.00
Account One AccountOne is a checking account with passbook and ATM. This ATM card can be used to transact at more than 800 Metrobank ATM and 2,300 BancNet ATM around the Philippines. It can also be used to over a million Cirrus and Maestro POS terminals around the globe. Php25,000.00 Php25,000.00 Php500.00

Read: Applying for an ATM Bank Account in Metrobank


Account Type Description Minimum /Required Initial Deposit Maintaining Balance  Penalty if Below Maintaining Balance
PS Bank ATM Savings


A savings account that brings you the combined privileges of day and night banking access via PSBank and Metrobank’s extensive network of automated teller machines and the benefit of earning fixed interest rate. Php2,000.00 Php2,000.00 Php300.00
PSBank Kiddie and Teen Savers Clients can open individual, joint or ITF accounts for their children’s savings. The PSBank Kiddie Savers Account is a savings account for children from 0-12 years old while the PSBank Teen Savers Account is for teens 13-18 years old. Php0.0 Php0.00 Php0.0
PSBank Regular Passbook Savings


PSBank Regular Passbook Savings encourages people to save money. This personal savings account offers a fixed interest rate and convenient ways to monitor transactions. This will help build your savings easily and quickly, so you can achieve your financial goals within a short period. Php5,000.00 Php5,000.00 Php300.00
PSBank Passbook with ATM This passbook savings account offers one free inter-regional transaction per day. A transaction is considered inter-regional if a deposit or withdrawal is made in another branch other than the depositor’s branch of account. The account also comes with an ATM card for convenience. Php5,000.00 Php5,000.00 Php300.00
PSBank Overseas Filipino Savings Offers many benefits to OFWs and their families. Clients enjoy convenient OFW bank transactions and cashless shopping. It’s a fixed interest-bearing account which allows day and night banking via the automated teller machines of PSBANK Metrobank, BancNet, Megalink, and ExpressNet ATMs nationwide, and Maestro and Cirrus ATMs worldwide. Php0.00 Php0.00  N/A
PSBank Regular Checking An account that provides you check-writing flexibility for worry-free payments of bills and financial transactions. Php5,000.00 Php5,000.00 Php300.00

So these are all the most common and used bank account types of people here in our country. As you can see, there are types of accounts that are specified for usage, investments, long-term saving, etc. Now that you know which bank and account type you need, what are you waiting for?

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