OPEN A BPI MASTERCARD DEBIT ATM with ZERO MAINTAINING BALANCE

Kaya Savings gives clients a worry-free option when it comes to saving. Open a Kaya Savings account today by visiting a BPI or BPI Family Savings Bank branch near you.

PRODUCT FEATURES:

Account opening for as low as Php 200.

NO maintaining balance.

Applicable Fees:

Php 5.00 charge for all customer-initiated debits 

(EPS and 24/7 banking channels) 

and withdrawal transactions 

(ATM and over-the-counter).

Prevailing Debit Card fees will apply. (P150 for the card)

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HOW CAN I OPEN A BPI KAYA SAVINGS ACCOUNT? 

1. Prepare the BPI Kaya Savings Account requirements. (Check the requirements and list of accepted ID below)
2. Go to any BPI or BPI Family Savings Bank near you.
3. Approach the Account Officer or Customer Service Representative and inform her that you want to open BPI KAYA SAVINGS ACCOUNT
4. Fill up some forms like customer information sheets and signature card
5. Prepare the initial deposit of at least the minimum initial deposit which is P200
6. You may be asked to pay P150 for the BPI ATM Debit Mastercard.
7. Wait for your application to be processed and get your card. The card will be available instantly or 10 to 15 days after application
8. Activate your new ATM and add PIN. Ask for assistance from the bank account officer, if needed help.
9. You can use your new MASTERCARD DEBIT ATM in paying and shopping even without withdrawing cash. 

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WHAT ARE THE REQUIREMENTS NEEDED

Prepare the following:

1. 2 VALID I'Ds (check the lists of ID's below)

2. Proof of Billing where you reside. Your billing or your parents or guardian or landlord's billing address stated in the receipt will do as long as its the same address in your application or ID.

3. They might ask for the latest 1x1 or 2x2 photo

4. If you have TIN Number, please make it ready, but in our experience, they didn't ask for it.

WHAT ARE THE FEES?

1. Php 5* per withdrawal in any BPI Express Teller ATMs.
2. Prevailing Debit Card fees apply.
3. Php 100 for withdrawals done over-the-counter
4. other customer-initiated debits (EPS, and/or 24/7 banking channels)
5. Required Daily Balance to Earn Interest is only ₱1,000
6. Interest Rate per Annum is 0.25%

LIST OF ID's ACCEPTED by BPI as listed in their website

1. Passport including those issued by foreign governments
2. Driver’s license
3. Professional Regulation Commission (PRC) ID
4. Postal ID
5. Voter’s ID
6. Taxpayer Identification Number (TIN)
7. Government Service Insurance System (GSIS) e-Card
8. Social Security System (SSS) card
9. Senior Citizen card
10. Overseas Workers Welfare Administration (OWWA) ID
11. Overseas Filipino Worker (OFW) ID
12. Government office and Government-owned and Controlled Corporation (GOCC) ID (e.g., Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs)
13. ID issued by the National Council on Disability Affairs
14. Integrated Bar of the Philippines (IBP) ID
15. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC) or Insurance Commission (IC)
16. PhilHealth Health Insurance Card ng Bayan
17. National Bureau of Investigation (NBI) Clearance
18. Police Clearance
19. Baranggay Certification
20. Seaman’s Book
21. Alien Certificate of Registration / Immigrant Certificate of Registration
22. Department of Social Welfare and Development (DSWD) Certification
23. Professional ID cards issued by Maritime Industry Authority (MARINA

READ ALSO:

What is PNB TAP Mastercard Account?

It’s a zero-maintaining savings account evidenced by a Paypass-enabled Mastercard Debit Card with worldwide acceptance. PNB TAP Mastercard can be used to withdraw cash, check balance and purchase goods and services wherever Mastercard and Maestro are accepted.

Balance Requirements

Initial Deposit PHP 0.00

Min. Maintaining Balance PHP 0.00

More Details Here: THOUGHTSKOTO https://www.jbsolis.com/2019/10/pnb-atm-tap-mastercard.html

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Mortgage Loan: What You Need To Know

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Having a home is the most fervent need of all people being the basic need. We all need a shelter and a safe place where our family can stay. Some people rent, but you cannot rent in your entire life. You will eventually come with an idea of getting a house you can call a home. But where would you start? Do you have enough money to buy it in cold cash? What are the options? Where do you find help.
The best alternative in getting funds for purchasing a house and lot is through bank mortgage or through private brokers. In this article, we will provide information about the basics of a mortgage loan and how it works.

What is a mortgage loan?

Mortgage loan or commonly referred to as mortgage is used to buy a house or other properties. In this arrangement, you as a borrower, is giving the lender, usually a bank or a mortgage company, the right to the property until you have settled all the needed payment including the interests.

Therefore, if you used a mortgage to buy a house, the loan is being insured by the house you purchased by serving as a guarantee. In case that you missed the monthly payments, the lender has the right to take back the hose you purchased.

Most people rely on mortgage to help them buy a real property. A very thin number of the population  could buy properties using cold cash.

From whom and where can you get a mortgage?

If you are planning to buy a property, there are some ways to get a mortgage— it could be through banks or mortgage brokers.

To know the processes you need to go through in applying for a mortgage, click here.

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How to acquire a mortgage loan from the bank?
Negotiating with the bank is the most preferred way by most people. A loan officer will be the one to assist you in your mortgage application. In general, the additional charges are very minimal if you apply for a mortgage direct from the bank. Because it doesn't involve a middle man, the cost could be lesser. So If you have an excellent credit history, good job with stable income and financial assets, you will not have any problems in getting that mortgage that you will apply for.

Getting a mortgage from a mortgage broker.
Mortgage brokers act as a "middle man" in a mortgage transaction. giving advises about what will be the best loan for you. They are not the ones who directly lend the money to you, instead, they work as a representative of the borrower.
In finding the right mortgage broker, you should bear in mind that the most skilled broker works with many mortgage lenders. You should also need to make sure that he\she has good track record and they know they way around the industry. Dealing with a good broker could help you understand the best deal based on your financial situation and credit history.

Original Article in Tagalog from imoney.ph

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Did You Apply for OFW ID and Did You Receive This Email?

Jobs Abroad Bound For Korea For As Much As P60k Salary

Command Center For OFWs To Be Established Soon

Passport on Wheels (POW) of DFA Starts With 4 Buses To Process 2000 Applicants Daily

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Bank Issued A Statement Regarding Mysterious Disappearance Of Money From Clients Accounts

"OFWs wanted a safe place to place their savings from their hard work abroad. Having been experiencing these kinds of "mysterious" disappearance of their hard-earned money could be really traumatic on their part and needed to be addressed and resolved as quickly as possible."

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A large number of depositors of one of the leading banks in the Philippines are complaining about missing money from their accounts — withdrawn by an unknown people .

OFW from London Alicia Corales, 65, was crying as she relates how she lost her money amounting to P100,000 from her  son's bank account with Banco De Oro (BDO). According to the bank manager, quoted by Mrs. Corales, the withdrawals were made using three different Automated Teller Machines (ATM) from different places. Mrs. Corales works as a health care assistant  in a hospital in London for  eighteen years and she always send her money to her sons account.

In another instance, another client Agatha Christie Ito, an OFW from Japan lost P100,000 which was allegedly withdrawn from an ATM, the irony is that, the complainant only uses passbook and withdraw their money everytime via over the counter transactions. They do not have any ATM card associated with the savings account.

Another OFW from Dubai, UAE, Julius Cesar Cuasto Lubitos claims that he lost a big amount of money from allegedly unauthorized withdrawals made outside the country while he was holding his ATM card with him the while time and he was in the Philippines during those period that the withdrawals were made.

Just recently, Juvy Garcia, another OFW had experienced the same. Someone allegedly made a withdrawal from her BDO account while the card is physically in her possession.

"It's never my intention to tarnish the credibility of the bank, but when you become the victim of a fraud and the BDO employees/mgt continues to disregard my case, and these scenario rises in random occurrence, would someone fault me if I would question their credibility to handle our savings? Crappy things like this can happen to anyone, at nakakalungkot po kasi ung iba 50k, 100k ung nawawala sa kanila. Hopefully, BDO will 'FIND WAYS' to fix this," Juvy said.

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Due to the multiple instances of disappearance of money from their depositors, most of them are OFWs, BDO unibank has issued a statement on their social media page which reads:
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"To our valued clients,

In the recent months, there has been an increased number of clients that have experienced suspicious bank account transactions involving withdrawals and purchases done without their knowledge.

In the 4th quarter of 2017, we have seen an extraordinary rise in fraud attacks towards the entire industry with an increase in the number of claims for unauthorized transactions taking place in other countries.

We are currently running a thorough investigation process that involves tracing individual transactions, checking any irregularities and identifying signals of fraud from millions of valid transactions everyday. This challenging task is done to ensure that all cases are addressed accordingly, and that a resolution is served for all valid cases.

We also wish to remind you to keep your account information private, as well as to be mindful of people requesting for your personal account details through phone, SMS, email, or websites. Unscrupulous individuals and groups are constantly preying on unsuspecting clients to collect their bank information through skimming, phishing, social engineering, and other devious ways.

To help our affected clients, we encourage you to formally file a report via email (callcenter@bdo.com.ph), its international toll free number (IAC +800-8-631-8000), or its domestic hotline (631-8000).

Your account’s safety and security are our top priority."

OFWs wanted a safe place to place their savings from their hard work abroad. Having been experiencing these kind of "mysterious" disappearance of their hard-earned money could be really traumatic on their part and needed to be addressed and resolved as quickly as possible.

BDO reminded all depositors to keep their account information private to avoid any untoward incident from happening to their savings.

This article is filed under: Bank, banks savings account, Bank Account, Bank Account Philippines, Bank for OFWs, Bank Fees, Banking, 

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For Your Kids Savings Account, This 17 Banks Offers P100 Only as Opening Amount

As parents, we should teach our children values like on how to save, and it should start while they are young.

As a verse in the Book of Provers that says “Train up a child in the way he should go: and when he is old, he will not depart from it.”

(Photo Credit:mymomfriday.com)

Frugality is a value that is needed to be taught to children today. Just like saving money in a piggy bank.

But to make kids saving safe, why not put it in a savings account in a bank under their names?

Yes, this is now possible since more banks now offer a Kiddie Accounts. This program will be expanded to cover teenagers as well.

The program was launched last March 8.
According to Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco, Jr., 19 years old and below will be able to open a savings account with a participating bank for just P100.

The accounts will not have any minimum maintaining balance required. Kiddie Accounts were converted to regular savings accounts when the account holder reached 13 years old.
Now, there are 17 banks that joined the program.

Tetangco added, "Aside from targeting a wider market of savers, we also wish to help those who have started the habit of saving sustain it until they have graduated and started working," 

Kiddie Accounts were first introduced in 2011 to help teach young Filipinos good money habits.

These banks are: 

1. Banco de Oro - BDO Junior Savers
Feature

• Minimum Initial Deposit Php 100.00
• Minimum Monthly Average Daily Balance Requirement Php 100.00
• Minimum Balance to Earn Interest Php 2,000.00
• Gross Interest Rate Per Annum 0.25%

Service Fees and Charges

• Account Closure - Php 300.00Falling Below Minimum Balance - Php 300.00
• Account Dormancy - 300.00
• Withholding Tax for Interest Earned - 20%

Requirements

A. If account will be under the name of the child.

Present any of the following: (Original copies must be presented
for verification)

• Passport
• School ID signed by the principal/school head
• Birth Certificate issued by Local Civil Registry or NSO

B. If account will be under the name of the parent/guardian (parental account).

• At least two (2) IDs of the parent/guardian.
• Any of the child's ID/document as indicated in above (passport, school ID)
• Adoption papers - applicable if the account is to be opened by the adoptive Parente
• Guardianship documents - applicable if the account to be opened is by the Legal Guardian.

2. & 3. Bank of the Philippine Island and BPI Family Savings Bank-BPI Jumpstart Savings Account

• Minimum initial deposit - P100 pesos
• Maintaining average daily balance - P500 for a BPI Family account - P1,000 for a BPI account
• Minimum average daily balance to earn interest is P1,000 for a BPI Family account - P2,000 for a BPI account

Requirements

• At least two valid IDs
• Birth Certificate

4. China Bank Savings - Easi-Save for Kids

• Passbook
• For kids 12 years old and younger
• In-trust-for accounts or ITF accounts are opened  for children below 7 years old
• Initial deposit is 500 pesos
• Minimum Balance to Earn Interest is 500 pesos

5. Development Bank of the Philippines - DBP - Young Earners' Savings Accounts (YES)

• For kids ages 12 years and below
• Minimum initial deposit of 500 pesos
• DBP In Trust For (ITF) Savings Opened by parents on behalf of their children younger than 18 years old

6. EastWest Bank

• Minimum Initial Deposit:P 2,000.00
• Maintaining ADB:P 2,000.00
• Interest Earning Balance:P 2,000.00
• Interest Rate:.25% p.a.
• Withholding tax:20%
• Fund Access:Over-the-counter/
• Internet Banking Facility/Mobile Access
• Transaction Record:Passbook

7. Maybank Philippines - Yippie Savings Account

• Be covered with free personal accident insurance 24 hours a day, 7 days a week with coverage equal to 5 times the previous month’s ADB or up to a maximum of Php 500,000.
• Free medical reimbursement benefit equal to 10% of the personal accident insurance coverage.
• Monitor the funds through a passbook and access them with a regional ATM card which you can use at any Maybank ATMs in Malaysia, Singapore, Cambodia and Brunei free of charge!

Interest rate*

• 0.250% for balances of Php 5,000 to Php 199,999.99
• 0.500% for balances of Php 200,000 and above

Requirements

• For In-Trust-For (ITF) account, the birth certificate of the child is required to be presented.
• Any valid IDs for parents/guardian
• For Minors or student who are not yet of voting age: School ID (photo-bearing and signed by the Principal or Head of Schools)
• Birth Certificate
• Library ID
• IDs must be current and unexpired.

8. Metrobank - Fun Savers Club

Requirements and features

• Child's NSO Birth Certificate
• Student's ID duly signed by School Principal or Head of School (for student)
• Two 1x1 recent ID pictures
• Php 500.00 initial deposit (this is also the required maintaining balance)
• Balance to Earn Interest - P4,000
• Interest Rate (per annum or year) - 0.25
• Service Fee for Accounts Falling Below Maintaining Balance (for 2 consecutive months) -P300

9. Philippine National Bank 

10. Philippine Savings Bank 

Requirements

Completely filled-out bank forms:

• Customer Information Sheet (CIS) for Individual Clients
• Signature Card
• Signing Instructions and Acknowledgement of Receipt Form
• Fully accomplished Interbank Fund Transfer (IBFT) Enrollment form if parents and guardians want to avail of automatic intra-bank fund transfer service
• Quit Claim / Waiver signed by the parent or guardian (only for PSBank Kiddie Savers and Teen Savers Accounts with PSBank Debit Mastercard)

Additional requirements for legal guardians opening an ITF account:

• Customer Information Sheet (CIS) for Beneficiaries and Beneficial Owners
• A Court Order is required as proof of authority to open and operate an ITF account on behalf of the ward/s
• Valid IDs

Parents / Legal Guardians:

• At least one primary ID or two valid secondary IDs, one of which with photo and signature

Child/ren or Ward/s

• Birth Certificate issued by the NSO or Certified True Copy issued by the Local Civil Registrar
• Passport or School ID (photo bearing duly signed by the principal or head of the school)

11. Philippine Veterans Bank 

12. Rizal Commercial Banking Corp. and 13. RCBC Savings Bank

RCBC- Wise Investors Save Early (WISE) Savings Account

• For children younger than 7, parents can open a WISE account as an In-Trust-For (ITF) account
• Minimum initial deposit is 500 pesos
• Maintaining balance is 1,000
• Balance to earn interest is 5,000
• Annual interest rate of 0.5 %, subject to the 20% withholding tax
• Can be purely a passbook account, or a passbook account with ATM
• Free one-year personal accident insurance worth 20,000 pesos each for parent and child upon

14. Security Bank - Junior One Account

• Opening Balance P100
• Minimum Balance to
• Earn Interest P5,000
• Maintaining Balance P5,000
• Interest Rate* (p.a.) 0.5%

Requirements

For Resident Citizen, Non-Resident Citizen and Resident Alien:

• 1 primary valid ID or 2 secondary valid IDs
• Available for children aged 18 years and below. For children under 5 years old, a parent or legal guardian has to be a joint account holder

15. Sterling Bank of Asia -Neo Savings Account

• For kids ages 17 years old and younger
• Initial deposit: any amount
• No maintaining balance requirement
• Minimum balance to earn interest is 2,000 pesos
• Annual interest rate is 0.375%
• Passbook and Visa debit card

16. United Coconut Planters Bank and 17.UCPB Savings Bank

UCPB Kiddie Max Account

• For children 18 years old and younger
• Passbook or ATM card
• Minimum initial deposit is 500 pesos
• Minimum ADB to earn interest is 10,000 pesos
• Annual interest rate is 0.25%
• Can be funded from parents' UCPB accounts via online or phone banking

 Thriftiness should be a practice of everyone, not just for children but above all for adults. Because how can we teach our child to save when as the parents we don't have savings? It is important also so that in times of emergency we have money to use.

This article is filed under: bank, Bank Account, Bank Account Philippines, Banking, banking needs, banks savings account, best bank for savings account, banks savings account, banks, savings account for kids, 

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