What you need to open a BPI savings account
BPI (Bank of the Philippine Islands) requires two forms of identification and proof of address to open a savings account. You can walk into any BPI branch with these documents, and the process takes about 30 minutes to an hour. You do not need to have an existing relationship with BPI or a minimum balance before you start—you only need to fund the account after it opens.
The two identification documents must be government-issued and include your photo. A passport, driver's license, national ID, or PRC professional license all work. For proof of address, BPI accepts recent utility bills, lease agreements, or official mail from a government agency showing your name and current address. The document must be dated within the last three months.
You will also need to decide which type of savings account fits your needs. BPI offers several: the regular savings account (no minimum balance requirement), the BPI Savings Account with a higher interest rate (requires a minimum balance), and specialized accounts for students or senior citizens. Ask the branch staff which account type matches your situation before you sit down to open it.
Key Takeaways
- Bring two government-issued photo IDs and proof of address dated within three months to any BPI branch to open an account.
- The account opens the same day, and you can fund it when ready or later—there is no minimum balance requirement for the basic savings account.
- BPI offers different account types with different interest rates and minimum balance requirements, so confirm which one you want before you explore.
- You will receive a debit card and passbook on the day you open the account, though the debit card may take a few days to set up.
Documents to bring to the branch
Gather your documents before you go to the branch. You need the two photo IDs and proof of address in original form—photocopies alone will not work. BPI staff will photocopy them for their records, but they must see the originals to verify they are real.
If your proof of address is a utility bill or lease, make sure your full name and current address are clearly visible. If the document is old or the address has changed since it was issued, bring a second document that shows the newer address. Government mail (like a tax notice or voter registration card) often works better because it is harder to dispute.
Bring your original documents in a folder or envelope so they do not get bent or damaged on the way to the branch. You will also want to bring a pen, because you will fill out the account opening form by hand at the branch.
The account opening process at the branch
Walk into any BPI branch during business hours. Tell the staff at the entrance that you want to open a savings account. They will direct you to the new accounts desk or give you a queue number. Wait for your turn, then sit with the account officer.
The officer will ask you basic questions: your full name, date of birth, occupation, and the source of your funds. Answer honestly. They will then ask which account type you want. If you are unsure, ask them to explain the difference between the regular savings account and the higher-interest accounts—the choice depends on how much money you plan to keep in the account and how often you will withdraw.
Once you choose, the officer will fill out the account opening form with your information. You will review it, sign it, and provide your two IDs and proof of address. The officer will photocopy these documents and file them. You will then be asked to sign the signature card, which BPI uses to verify your signature on future transactions.
The entire process takes 30 to 60 minutes. At the end, you will receive your account number, a passbook (a small booklet that records your deposits and withdrawals), and sometimes a temporary debit card. Ask the officer when your permanent debit card will arrive—this usually takes three to five business days.
Funding your account after it opens
You can deposit money into your new account the same day it opens. The officer will tell you the account number before you leave the branch. You can deposit cash at the teller window, or you can transfer money from another bank using the account number and BPI's routing information.
If you are depositing cash, bring the exact amount or be prepared to receive change. There is no minimum deposit required to keep the account open, though some account types require a minimum balance to earn the advertised interest rate. Ask the officer about the minimum balance for your specific account type before you leave.
If you want to set up automatic deposits from your employer or another source, ask the officer for the bank transfer details. You will need to provide your account number and BPI's bank code to your employer's payroll department or to whoever is sending the money.
What happens after you leave the branch
Your account is active when ready, and you can use your passbook to make deposits and withdrawals at any BPI branch right away. Your permanent debit card will arrive by mail within three to five business days. Do not throw away the temporary card—keep it until the permanent one arrives, in case you need to withdraw money before then.
Once your debit card arrives, you can set up it by calling the number on the back of the card or by visiting a BPI branch. The card will work at BPI ATMs and at merchants that accept Visa or Mastercard (depending on which type of card you received). You can also set up online banking through BPI's website or mobile app once your account is fully set up.
Your passbook will show every deposit and withdrawal. Bring it with you when you go to the branch, because the teller will update it each time you make a transaction. If you lose your passbook, you can request a replacement at any BPI branch—there is usually a small fee.
Account types and which one to choose
BPI's basic savings account has no minimum balance requirement and no monthly fees. Interest is paid, but the rate is lower than other account types. This account is best if you are just starting to save and do not have much money to deposit yet.
BPI's higher-interest savings accounts require you to keep a minimum balance—usually between 10,000 and 50,000 pesos, depending on the account. If your balance falls below the minimum, you lose the higher interest rate and may be charged a monthly fee. These accounts are best if you plan to keep a larger amount in savings and want to earn more interest.
BPI also offers specialized accounts for students (with lower or no minimum balance) and senior citizens (with special benefits). Ask the account officer whether you may have access to for any of these before you decide. The choice matters because it affects how much interest you earn and whether you will be charged fees.
Frequently Asked Questions
Can I open a BPI account online instead of going to a branch?
BPI does not currently offer full account opening online. You must visit a branch in person with your original documents. However, once your account is open, you can manage it online through BPI's website or mobile app.
What if I do not have a utility bill for proof of address?
Bring any recent official document with your name and current address: a lease agreement, government mail, property tax notice, or voter registration card. The document must be dated within three months. If you have multiple documents, bring them all—BPI staff will choose which one they need.
How much money do I need to deposit when I open the account?
There is no required deposit amount for the basic savings account. You can open it with zero pesos and deposit money later. If you choose a higher-interest account, you will need to meet the minimum balance requirement to keep earning that rate, but you do not have to deposit it on the day you open the account.
What if the branch is closed or very busy when I go?
BPI branches are open Monday through Friday, usually 9 a.m. to 3 p.m., and some branches are open on Saturday mornings. If your nearest branch is far away, you can open an account at any BPI branch in the country—the account will work the same way. Call ahead if you want to confirm the branch is open or to ask about wait times.
Can someone else open an account on my behalf?
No. You must be present in person with your own identification documents. BPI requires you to sign the account opening form and the signature card yourself. If you are a minor, a parent or legal guardian must accompany you and may need to co-sign some documents.