BDO or BPI? That is the question! If you are choosing which of these two largest banks in the Philippines in opening your savings account, here’s a post that can help you decide.
Here’s the truth, what’s best for somebody may not be the best for you and what’s best for you may not be the best for others. There are a lot of factors to consider in choosing a bank for your savings account.
Here’s a collected feedback from different parts of the internet regarding the this matter.
Reasons to Open BPI Savings Account
1. BPI’s got better online and mobile banking. One of the great features you can get from BPI is their Online Banking. BPI has been doing great development with their internet banking system plus their seamless BPI Mobile App which you can download via GooglePlay.
2. BPI offers more convenience with their branch transactions. BPI Express Assist (BEA) Online is a paperless and automated system that assists customer in making transactions and queuing. This can be used for transactions such as Deposit, Withdrawal, Check Encashment and Bills Payment.
3. BEA Online offers online appointment system. You can set an appointment and be served right ahead on your scheduled day and time. This online service is free. This can greatly save you precious time because you don’t have to line up if you use this feature.
4. BPI has greater number of Cash Accept Machines. BPI has more than 500 CAMs compared with BDO’s 400 Cash Deposit Machines scattered nationwide.
5. BPI’s Online Cash transfer is free. Compared with BDO, it will cost you couple of tens of peso for every transaction. There are other transactions with BDO where you need to pay certain fees just because you’re not transacting with your branch of account.
Reasons to Open BDO Savings Account
2. BDO allows you to do weekend banking. There are branches that offers Saturdays and BDO Branches inside SM Malls operates during Mall hours on Sundays.
3. Ease of Application. Today, BDO only requires 2 valid ID and the required initial deposit and that’s it! You don’t need to bring copy of your latest photo and there’s no need for proof of billing. Just make yourself look neat during your application so you’ll have a pleasing picture during your photo capture.
4. Longer banking hours. Since BDO is an SM Partner, many of their branches are inside the SM Malls. These branches are typically operating during Mall hours as well. Compared with typical 9 – 5 Banking hours, these offices offers additional hours for your banking transactions.
5. Offers more security. BDO Offers great security with their LOCK ATM Card to secure the cardholder in case of any theft or misplacement. BDO Also offers One Time Password (OTP) log-in to ensure that only the intended use will be able to access their accounts online.