Opening your very first bank account? Thinking of partnering with another banking institution? Why not try Metrobank. It is one of the top banks in the country and has been around for quite some time now, making it a good place for your precious savings.
To open a savings account with Metrobank, there are a few things that you need to do. The application process is also easy. There is no need to worry that it might be too complicated or time-consuming.
There are two things that you need to prepare before you can start your application. These are:
- 1 government-issued ID (with photo and signature); and
- Initial deposit. Just like any other bank, the amount would vary from one product to another.
|Metrobank Peso Savings Account||Initial Deposit|
|Passbook Savings||Php 10,000|
|Debit/ATM Card Savings||Php 2,000|
One of the most important things you need to be aware of is your chosen product’s maintaining balance. Banks enforce penalties in the form of monthly deductions if the amount in your account falls below the required balance stipulated in the guidelines.
Tip: Your teller would tell you about this. However, just to be safe, it’s best to go over the Terms and Conditions. Don’t be afraid to ask questions.
For more information on Metrobank’s balance requirements, interest rates, and fees, click this link https://www.metrobank.com.ph/personal_product.asp.
Now here are the steps of the actual application process:
- Go to the nearest Metrobank branch.
- Approach one of the tellers and inform her that you wish to open an account. You will be given a customer application form.
- Fill out the form. Make sure all information is correct and written legibly. Always double check.
- Pay your initial deposit. Keep the receipt or the claim stub.
- The teller will inform you when you will be able to get your passbook and/or ATM.
It is never a bad idea to save some of your money. A very good advice someone gave me is to only start spending once you have set aside money for your bills and savings. Not the other way around. With this said, happy saving!