The hassle of going out to withdraw cash from the ATM is really painful. The pain is even amplified by the risk of being infected by the sneaky COVID-19 virus.

As more and more businesses go online, paying for cash (crisp peso bills) is no longer a necessity but an option. Online wallets such as GCash, Paymaya and Coins make online payments and shopping so convenient.

Related: Pay and Schedule Bills Payment on BPI Online

And to make these online wallets work for you, you need a primary bank to fund your wallets. This is where BPI comes into action.

If you want to open a new BPI account or an additional deposit account then you are in the right place.


Why Open a BPI Account (not with other banks?)

BPI is probably the best option for your online banking needs for three reasons.

Easy sync with GCash

I’ve been using GCash for years now and I could not recommend a better online wallet. It is fast, secure and user experience is really great. Although there were technical issues before but overall, it’s the best online wallet to use in the Philippines.

Related: How to Cash in to GCash via BPI online in 2021

A lot of eCommerce and traditional stores accept GCash so it’s really convenient.

GCash works seamlessly with BPI as these companies are owned by the Ayalas. And not only GCash, other online wallets work great with BPI too.

Related: How to Send Money Via GCash in 2021


Mobile app is so easy (and safe) to use

BPI mobile app is perhaps the most intuitive financial app. I have tried other banks’ mobile app but they’re slow, buggy and awful. Try and see for yourself.

Also, the app is always updated so you could take advantage of secure logins via fingerprint or Face ID.

One Time Pin (OTP) is another feature for account protection. Every time you make a transaction, a OTP is sent to your mobile phone for confirmation.

Related: How to Pay & Schedule Bills Payment on BPI Online 2021


Customer support is way better than other banks

Yes, banks seem very friendly and approachable when you open a savings account but what if you couldn’t make a payment online or your account is credited for a transaction that didn’t go through?

Well, online systems aren’t really perfect and incidents like these do happen. I know, I experienced it myself and the anxiety of losing money creeped me out.

When issues do occur, you could reach BPI’s customer support thru their social media channels, email or hotline.

BPI on Facebook –
BPI on Twitter –
Email – [email protected]
BPI’s hotline –

On certain incidents that I freaked out, I reached out to them simultaneously via Facebook, Twitter and email. The quickest response I got was from their Twitter support.

Yes, I know only a few us use Twitter but it’s really helpful to consider this platform for help. I was lucky (perhaps) that time to have a knowledgeable customer support.

When I had problems with my other credit cards, their customer support were confusing, conversations went into circle and issues were never resolved. I hate that experience.

How to Open a New BPI Deposit Account

If you are opening a new BPI account for the first time then it is mandatory to go to your nearest BPI branch.

Opening a BPI account online (for the first time) is not supported yet so you need to appear on any BPI branch.

Don’t worry, this is just for the first time. Your future transactions will be done entirely online.

Requirements to Open a New BPI Account

There are 5 requirements that you need to bring with you when you go to the nearest BPI branch.

Valid ID

Just bring the original ID, photocopy is not needed as they have their own scanner.

These are the list of acceptable valid IDs on BPI’s 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 / UMID
  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)

Proof of billing

Prepare any of your utility billing statements such as Meralco, Maynilad, PLDT, credit card or Globe/Smart that indicate your billing address.

The billing statement may or may not bear your name as long as you live on billing statement’s address. You can use an authorization letter from the owner of the billing statement to use the document.

1×1 ID picture

This is a proof of your identity. This will be attached to your specimen signatures and application form.

Tax Identification Number (TIN)

You don’t need to bring your TIN ID but have your TIN number ready. This is a 12 digit number so better take note and don’t just rely on your memory :)

Initial Deposit

The initial deposit could be as low as P100 depending on the BPI savings account type that you chose.

But to be on the safe side, I recommend having a P300 initial deposit.

How to Open an Additional BPI Savings Account

If you are are an existing BPI account holder already and you registered your online account, you can follow these steps:

  1. Open BPI mobile app
  2. Select “Open A New Account
  3. Tap “Open another deposit account
  4. Log on with your username & password OR fingerprint/Face ID
  5. Tap “Open account now
  6. Select bank “Bank of the Philippine Islands
  7. Select your preferred savings account type. Either Regular Savings with Debit Card or Maxi-Saver with Debit Card.
    • Regular Savings – 3,000 minimum deposit, 5,000 average balance to earn interest of 0.125% per annum
    • Maxi-Saver – 50,000 minimum deposit, 50,000 to <5M earns 0.125% per annum or >5M earns 0.25% per annum. Plus get a bonus interest of 0.125% per annum if no withdrawal is made within the month.
  8. Tap “Next” and review the details
  9. Tap “Terms and Conditions” and scroll until the last page.
  10. Tap “Accept
  11. Tap “Confirm
  12. One-Time PIN (OTP) will be sent to your registered mobile number. Tap “Yes, send me the code
  13. Enter the 6 digit OTP
  14. Congratulations! You have successfully opened a new Savings account! Tap “Done
  15. Your new savings account should now reflect under “Deposits” and an email confirmation about your digital deposit account opening will be sent.


Having an eWallet is a necessity. I always wonder why some people still opt to pay at Bayad Center, SM Bills Payment or Cebuana Lhuillier when you could just pay typically any utility bill thru your eWallet.

eCommerce is also growing at a rapid pace, thanks to COVID-19, people are scared or discouraged to go out unless necessary. Online shopping is the new normal.

When everything’s going online, it makes sense to adapt technological breakthroughs. Surely, it saves us a lot of time and makes our task easy.

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