How to Open a BPI Savings Account: Step by Step Guide

A close-up graphic featuring a red BPI bank passbook and a red BPI Mastercard debit card resting on top of a bank application form. Bold white text overlaid on the left reads, "How to Open BPI Savings Account." — A close-up graphic featuring a red BPI bank passbook and a red BPI Mastercard debit card resting on top of a bank application form. Bold white text overlaid on the left reads, “How to Open BPI Savings Account.”

Bank of the Philippine Islands (BPI) is the oldest bank in the Philippines and Southeast Asia, established in 1851. BPI functions as a financial institution that collects funds in the form of savings, checking accounts, and time deposits and distributes them in the form of loans. You can open a BPI savings account online or visit your nearest branch.

With a BPI account, you can easily make purchases, withdraw cash, and transfer funds internationally. As explained above, you can not only save but also easily access asset management (investment) products, insurance, and even housing and vehicle loans.

This article will discuss how to open a BPI savings account.

Table of Contents

Types of BPI Savings Accounts

There are at least several types of BPI savings accounts specifically designed to meet the financial needs of various customers. Here’s a list of the types of BPI savings accounts you should know about:

Main Savings and Daily Transactions

The BPI Main Savings & Daily Transaction Account is divided into two categories:

First, BPI Regular Savings. This account is the most popular choice for everyday transactions and cashless shopping. It offers an interest rate of 0.0625% per annum with a minimum initial deposit of PHP 3,000. This account comes with a debit card and full access to the mobile banking app.
Then, BPI #MySaveUp is a fully digital savings account that’s highly convenient for smartphone users. You can open and manage this account directly through integration with third-party apps like Gcash.

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Special Savings and Remittances

The next account is the Special Savings & Remittance Account. This account is divided into two types:

First, BPI Padala Moneyger, a savings account with no minimum balance fees designed specifically for families of Filipino migrant workers (OFWs). This account simplifies the process of receiving, disbursing, and safely managing remittances from abroad.
Then, BPI Pamana Savings is a unique card-based savings account that offers the added value of free life insurance for account holders, perfect for those who want to save and provide financial protection for their families.

Investment Savings and Foreign Exchange

And third, there’s the Investment & Foreign Currency Savings account. This account is divided into two types:

First, the BPI Maxi-Saver, an account aimed at customers who want to optimize the growth of their money. With this account, you earn a much higher interest rate than a regular savings account (1% per annum). You can also earn a 0.5% interest bonus if you don’t withdraw your balance for a month. The minimum deposit for the ATM card version is PHP 50,000.
Then, there’s the BPI US Dollar Savings, a US dollar savings account designed to protect your assets from exchange rate fluctuations, making it easier for you to deposit funds in cash or dollar checks.

How to Open a BPI Savings Account

There are two ways to open a BPI savings account: visit the nearest BPI branch office or use the BPI Mobile app.

Before proceeding, you’ll need to prepare several documents, including:

A valid government ID such as a passport, driver’s license, UMID, SSS ID, PRC ID, or Postal ID.
A valid mobile phone number and email address.
And, an initial deposit if you register in person at a branch office.

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Method 1, Open a BPI Account Directly at a Branch Office

If you’d like to receive a physical card immediately and receive in-person assistance, you can visit the nearest BPI branch. Here are the steps:

Visit the nearest BPI branch office with your original ID and a photocopy.
Then, take a queue number and go to Customer Service.
You will be directed to fill out a savings account opening form provided by an officer.
Once completed, submit your identity documents and make the initial deposit according to the type of BPI savings account you selected.
The officer will process your account, and you will immediately receive your passbook and BPI debit card.

Method 2: Open a BPI Account Online Through the BPI Mobile App

If you prefer a quick and convenient way to avoid in-person banking and long queues, you can use the BPI Mobile app, which can be downloaded from the Google Play or App Store. here are the steps:

After downloading the app, open it, tap the “Open a New Account” option, and then select “Create a Bank Account.”
Then, select the option that indicates you are a new customer (you have never had a BPI account before).
You will then be directed to fill in your personal information completely and correctly on the provided electronic form.
Upload a photo of your government ID and complete facial verification (selfie) according to the on-screen instructions.
Your account will be immediately activated with a temporary initial balance of PHP 30,000 until the full verification process is complete.
Make a deposit into your new account within 7 days to avoid deactivation.

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Note: for those of you who are already BPI customers and want to add a new savings account (for example, USD currency savings), you only need to log in to the BPI application, open the More menu, then select Products and click New Deposit Account.

These are the steps to open a BPI savings account. Register now and enjoy additional benefits.

If you encounter any issues or other problems during the process, don’t hesitate to contact BPI Customer Service or call the following number: +63 2 8891 0000. Hope this help!