Easiest Bank to Open Checking Account | Philippines

I never thought opening a checking account can be a pain in the neck until I had to get one for housing purposes. It wasn't easy even though you have an existing account in a particular bank, it will still be subject for approval like BPI , for instance.  I've tried Security Bank, BDO, and China Bank unfortunately, they didn't allow me to open one. They require an existing account for at least 6months.


Then, I tried to inquire in PSbank. I was delighted when they say, yes you can! You don't need to have the existing savings account to open a regular checking.


I filled-out bank forms right away. The staff advised me to come back on the next day and assures that she will process my application first thing in the morning.

Philippine Savings Bank

-  a savings bank based in the Philippines.

- a subsidiary of Metrobank.

- they first opened in 1960

Requirement for PSbank Regular Checking

• Complete filled-out bank forms

         - Customer Information Sheet (CIS) for Individual Clients

         - Signature Card.

         - Signing Instructions and Acknowledgement of Receipt form

• Presentation of at least 1 primary ID with picture and signature.

          - passport, UMID, voters or any other government ID's

• Check book payment

Product Feature

• Minimum Deposit                          :         PhP5, 000

• Minimum Average Daily Balance :         PhP5, 000

• Evidence of Deposit                       :         Statement of Account and Checkbook

• Interest Rate                                   :         Not Applicable

Fees and Charges

• Below Maintaining Balance           :          PhP500 if below ADb for two consecutive months.

• Service Fee                                     :          PhP500 if account was closed within one month of                                                                         opening

• Checkbook Reorder                        :          PhP250/checkbook

• Returned Check Charges                :          PhP2000 for every check returned due

For more details about their Products and Services. Please visit their website. 

That's as easy as 123. You can have your checkbook right away. They will advise you to download their app and register to mobile banking. Btw, checkbook reorder will take about 2 weeks.

I'm glad that I tried their service. PSbank may not be as popular as others but, they have been there for so long, plus you can do bank transactions without a long line.