The hassle of withdrawing cash from the ATM is painful. This article shows you how to open BPI account online in 2022.
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.
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. Refer to our other post to generate a BPI QR code for a seamless online transfer.
Table of Contents
Why Open a BPI Account (not 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 and could not recommend a better online wallet. It is fast and secure, and the user experience is excellent. Although there were technical issues before, it’s the best online wallet in the Philippines.
There are five requirements that you need to bring with you when you go to the nearest BPI branch.
Just bring the original ID; a photocopy is unnecessary as they have their scanner.
These are the list of acceptable valid IDs on BPI’s website.
Passports, including those issued by foreign governments
Professional Regulation Commission (PRC) ID
Taxpayer Identification Number (TIN)
Government Service Insurance System (GSIS) e-Card
Social Security System (SSS) card / UMID
Senior Citizen card
Overseas Workers Welfare Administration (OWWA) ID
Overseas Filipino Worker (OFW) ID
Government office and Government-owned and Controlled Corporation (GOCC) ID (e.g., Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs)
ID issued by the National Council on Disability Affairs
Integrated Bar of the Philippines (IBP) ID
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)
PhilHealth Health Insurance Card ng Bayan
National Bureau of Investigation (NBI) Clearance
Alien Certificate of Registration / Immigrant Certificate of Registration
Department of Social Welfare and Development (DSWD) Certification
Professional ID cards issued by Maritime Industry Authority (MARINA)
Proof of billing
Prepare utility billing statements that indicate your billing address, such as Meralco, Maynilad, PLDT, credit card, or Globe/Smart.
The billing statement may or may not bear your name as long as you live at the 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 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 ready. This is a 12-digit number, so better take note and don’t just rely on your memory :)
Depending on your chosen BPI savings account type, the initial deposit could be as low as P100.
But to be safe, I recommend having a P300 initial deposit.
How to Open Additional BPI Savings Account
If you are an existing BPI account holder already and you registered your online account, you can follow these steps:
Open BPI mobile app
Select “Open A New Account“
Tap “Open another deposit account“
Log on with your username & password OR fingerprint/Face ID
Tap “Open account now“
Select the bank “Bank of the Philippine Islands“
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.
Tap “Next” and review the details
Tap “Terms and Conditions” and scroll until the last page.
One-Time PIN (OTP) will be sent to your registered mobile number. Tap “Yes, send me the code“
Enter the 6-digit OTP
Congratulations! You have successfully opened a new Savings account! Tap “Done“
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 pay any utility bill thru your eWallet.
eCommerce is also increasing; thanks to COVID-19, people are scared or discouraged from going out unless necessary. Online shopping is the new normal.
When everything’s going online, it makes sense to adopt technological breakthroughs. Indeed, it saves us a lot of time and makes our tasks easy.
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