Metro Manila · Opening A Local / Peso Bank Account
Planning to open a Philippine bank account while you are in the country? Take a look at bank requirements here.
Foreigners can open a Philippine bank account without a problem if they present the following documents:
- two valid identifications (ID cards) with picture, e.g. passport, driver's license, alien registration card (ACR), national ID card ..
- proof of address e.g. contract of rent, utility bill, ...
If you have an ACR or an Immigrant Certificate of Registration (ICR), you should definitely use this as proof of identification. Otherwise you may be required to have a separate meeting with the bank manager.
You have to to open the bank account in person. After opening your bank account, you directly have to make a deposit. The amount that need to be deposited may vary so it is a good idea to get more information online before going to the bank of your choice.
National debit cards are issued together with online banking when opening the bank account. For a Philippine credit card, more details might be needed, e.g. an ACR which can only be acquired after you have been in the country for quite some time.
Some banks charge certain fees if you make a deposit in another branch so be sure to open an account near you or choose a bank that does not have additional charges for such transactions.