The Metropolitan Bank and Trust Company, commonly known as Metrobank, is one of the largest bank in the Philippines. It has a wide variety of financial services, from regular banking to insurance. In this article, you will learn the step by step process on how to open a Metrobank Savings Account. If you want to know more about the requirements and the maintaining balance for Metrobank savings account, read more.
Being one of the largest bank in the Philippines, it has thousands of ATM machines and branches around the Philippines to accommodate every Filipino’s finance needs.
Metrobank Savings Account Requirements
1. First of all, you need 1 Valid ID. Although it is recommended to bring two, just in case you need it for further verification. The ID must show your name, address, photo, and signature.
IDs are needed for your protection. This is to prevent any fraudulent transactions, money laundering, and terrorist financing on your account. Below is a list of commonly accepted valid ID:
- Driver’s License
- UMID card
- Barangay Clearance
- Voter’s ID
- NBI Clearance | NBI Clearance Online
- Senior Citizen Card
- Postal ID
- Police Clearance
- Other Government issued IDs
Your IDs should be:
- Original copy
- Photo-bearing (should be clear)
- It should be unexpired
- Issued by an official authority
For student’s who wants to open an account, you can bring a photo-bearing school ID duly signed by the principal or head of the school. The ID has to be under current school year.
2. Two pieces of 2×2 or 1×1 picture. As much as possible provide the most recent photos you have.
3. Minimum of P2000 Initial Deposit. You need to bring at least P2,000 pesos initial deposit for opening Metrobank ATM bank account or e-Teller Bank Account.
For Passbook Savings account, you need at least P10,000 as initial deposit.
4. 1 Utility Bill. This for verification of your billing address. You can use any even if it’s not named after you. Just make sure that you are residing on the same address. Here’s a list of bills you can use: Electricity Bill, Water Bill, Internet Bill, Credit Card bills, and etc.
5. SSS Number or TIN Number. Students are exempted from providing SSS or TIN number.
Always take good care of the Income Tax Return (ITR) your company provides every year. It includes your TIN number which you can use in different money transactions such as opening a new bank account.
If you are unemployed or self employed applicant, you can request for a TIN number by providing the following documents to the nearest BIR District Office in your area.
- Print the BIR Form 1904 that can be downloaded on BIR’s website and Fill it out.
- Provide any government document with the following details:
- (PSA Birth Certificate, Cedula, Passport, Driver’s License, UMID Id, Postal ID, etc)
- If you’re a married woman, provide PSA Marriage Certificate
- Barangay Certificate
- Provide a Metrobank Opening Account Endorsement from the Metrobank Branch you are applying to.
So basically, these 5 are the main requirements to open your savings account.
Step-by-Step Procedure in Opening a Metrobank Savings Account
1. Personally go to the nearest Metrobank branch in your area and bring the requirements with you. Just check what banking hours the branch in your area is operating. Tell staff that you will be opening a Metrobank savings account. Worst case scenario, you’ll face a long queuing line. So don’t forget to bring your phone with you or some other things to kill boredom while waiting.
2. Fill out the form. Make sure to double check or even triple check all the information before submitting it so you will not be wasting your time just because of simple errors.
3. After accomplishing and submitting the application form, you need to wait for them until they have reviewed and encoded all the information into their system. If you’ve applied for Metrobank Passbook Account, typically, you can get your passbook right away.
If you’ve applied for Metrobank ATM savings account, you can get your ATM card typically within a week or 5-7 days. Be reminded that you need to bring Valid ID and the slip bearing your account number.
Metrobank Savings Account Initial Deposit and Maintaining Balance
|Passbook Account||Initial Deposit / Maintaining Balance|
|Fun Savers Club||P100|
|SSS Pensioner Regular||P100|
|US Pensioner Regular||P500|
|ATM / Electronic Teller Account||Initial Deposit / Maintaining Balance|
|SSS Pensioner ET||P100|
|Checking Account||Initial Deposit / Maintaining Balance|
|MetroChecking Extra Regular||P15,000.00|
|MetroChecking Extra Commercial||P35,000.00|
The Initial Deposit / Maintaining balance are as of October 15 2015
You might want to read:
- Metrobank Online Banking – How to Enroll Your Savings Account
- How to Open BPI Savings Account (Easy Guide)
- How to Open BPI Kaya Savings Account (Zero Maintaining Balance)
- How to Open BPI Easy Saver Savings Account (Application Requirement)
- How to Open BDO Savings Account [Easy Guide]
- How to Link Metrobank Savings Account To PayPal