How to Open a BPI Checking Account

Last week, I successfully opened a checking account with BPI. The process How to open a BPI checking account  was more challenging than opening a regular savings account, and I will explain why shortly. While the procedure is similar, the experience is different as it makes you feel more affluent, akin to how wealthy characters on TV are often portrayed using such accounts. Jokes aside, a checking account offers numerous benefits, making it a wise decision to have one.

Advantages of a Checking Account

To begin with, it’s important to note that a checking account is no longer exclusively for the wealthy. I was able to open mine with just Php 10,000. I made this decision because I am at a point in my life where having a checking account is necessary. If you find yourself in a similar situation, then this post may be helpful for you.

With that said, here are five benefits of opening a checking account.

Secured Payment Option

Undoubtedly, the most valuable attribute of a checking account is the level of security it provides. For instance, if you are engaging in a business deal with someone who you don’t know well, you can use a crossed check to make the payment. This measure ensures that the payee can only deposit the check into their legitimate account, which helps to confirm their identity and establish that they are the same person with whom you are conducting the transaction.


“Using a check is more convenient and secure when purchasing big-ticket items like a new car or a house. It provides added convenience over using cash due to the security measures in place.”

Use to Track Cashflow

Checks are written in sequence, and the first few pages of your checkbook contain spaces where you can record information about the checks you have written. By doing so, you can keep track of where your money is being spent.

Payment for Recurring Bills

Your landlord may ask you to provide post-dated checks (PDCs) before you sign the lease agreement. This allows you to pay your rent on time and makes it easier for your landlord to deposit the checks into their account. Using PDCs can help you establish a good credit history and make things more convenient for your creditors.

Payment for Investments

Having a checking account can be very useful if you have to pay for insurance and investments. Personally, I like to invest in Initial Public Offerings (IPOs), but they usually only accept manager’s checks or personal checks. Getting a manager’s check can cost an extra Php 50, and you’ll also have to wait in a long line. Therefore, having a checking account can save you time and money by avoiding the queue and the extra cost of a manager’s check.

To open a BPI checking account, simply visit the nearest branch in your area and follow these steps to ensure a smooth transaction:

  1. Familiarize yourself with the necessary steps and requirements before visiting the branch.
  2. Bring all the required documents and identification.
  3. Fill out the necessary forms and provide accurate information.

By following these steps, you can easily open a BPI checking account.

1. Secure the Requirements

To open an account, you are required to provide 2 pieces of 1×1 picture with a clear background, 1 billing statement indicating your current address, photocopies of 2 valid IDs, and an initial deposit of Php 10,000.

2. Proceed to the Branch

After preparing the necessary requirements, you can proceed to the nearest branch in your area and obtain a queue number from the guard.

3. Short Interview with the Bank Teller

When you go to the bank to open a checking account, the bank teller may inquire about your reason for opening it. It’s important to have a clear goal in mind, unlike opening a savings account. If you simply express a desire to open a checking account without a specific purpose, there’s a high chance that your application may be rejected. Therefore, it’s essential to provide a valid reason, such as for business purposes, investment, or to purchase a condo, among others.

4. Fill-out the Application Forms

After providing a satisfactory response on why you require it, the bank teller will furnish you with the necessary forms for completion. Once finished, you can then present the forms along with any other prerequisites to the teller. Additionally, apart from the Php 10,000 deposit, you must also prepare to pay Php 250 per checkbook.

5. Wait Until Done

In certain cases, the bank may be able to issue your checkbook on the same day, provided they have the necessary resources to do so. However, typically they will advise you to return the following week on the same day to collect both your checks and ATM card.

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