a question for filipinos: how much do i need to open a savings account at BDO?
By kayedanda
@kayedanda (1850)
Philippines
August 23, 2008 9:16am CST
i don't have a credit card and have no plans of getting one in the near future but i want to verify my paypal account so that i can receive my payments in here. i'm nearing my first $10 (i already have $8.28 right now, a couple of more days and i'll reach $10) and i want to open an account with BDO because i think it is the only ATM card with a mastercard logo that paypal considers as a debit card (please correct me if i'm wrong).
i have a savings account with BPI family savings bank. the reason why i chose to open with them is because they only ask a minimum of P500 initial deposit. now i want to open a savings account with BDO for the sole purpose of receiving payments here through paypal. can you tell me how much you deposited initially? how much is the maintaining balance?
2 people like this
8 responses
@semicolonp (518)
• Philippines
23 Aug 08
I'm no expert, but I would like to greatly advise you NOT to get BDO as your debit card. I have tried using my Banco de Oro ATM Debit Card (MasterCard) and have lost around Php 200+ after continuous requests to get it verified (they take, I think, $1 for every query for verification). After asking BDO's customer service, they replied that BDO currently does not have a relationship with Paypal and would like for people to hold off using their bank to verify as they cannot help BDO users should a problem with paypal arises.
I think there are some people who have managed to use BDO to verify their paypal account, but as of current time, the BDO management warns against it. The ATM MasterCard is not an advisable option to use.
1 person likes this
@kayedanda (1850)
• Philippines
23 Aug 08
ouch. okay, the first one suggested to open a cyber account with union bank and i think i'll do that instead. no maintaining balance, no initial deposit? what more can we ask for? :D
anyways, thanks for sharing your experience with BDO. i hope this helps others who plan on using BDO as their bank of choice when doing business online :)
@semicolonp (518)
• Philippines
23 Aug 08
I'm glad I can help. :) I am still, admittedly, a little sore for those 200. Ugh.
I'm also planning to open an EON account when the Unionbank near my home opens (they close on the weekends and they're closed on Monday too, due to the National Holiday), so good luck to both of us! :D I think we'll have to wait about a month for the credit card to arrive (I'm basing this on other people's experience) but by that time, I think I'll achieve payout, so all's good, heh.
By the way: I have asked whether BDO plans to create a relationship with Paypal and while the answer was vague, they did say there are talks going about. Whether it comes to fruition is yet to be seen, but the agent on the phone did say that necessary information dissemination will occur in the event of a favorable response.
1 person likes this
@kayedanda (1850)
• Philippines
23 Aug 08
hey, where are you from? i'm planning to open on tuesday too so we just might meet at the bank if you're from baguio too. hehehe.
@mz_Ira (1090)
• Philippines
24 Aug 08
It depends on what account your going to get.
You can get an atm for P2000 as initial deposit and also the maintaining balance or You can have atm with passbook for P5000 ^_^
I, too is planning to open an account with BDO, This site has already paid me and sent it to my paypal already so I need to have one soon.
What site are getting paid neway?
@kayedanda (1850)
• Philippines
24 Aug 08
you are asking for any other site that pays? i'm sorry if i do not quite understand what you said, but if that's what you are looking for, you can check out my profile.i have a link at the upper right corner of my page. it pays, not in dollars, but in pounds :)
@kayedanda (1850)
• Philippines
25 Aug 08
ohh..NOW i understand :)
well, the link in my page pays through paypal too:)
i have my work (writing) but it pays through xoom (they don't have a paypal option for the philippines yet).
@mimico (3617)
• Philippines
24 Aug 08
You should check out Union Bank I think they have a program that allows you to transfer funds from PayPal to your account. I have an account with BDO as well but even though I can verify my paypal account, I can;t get the money to the bank! Oh well. To answer your question, the minimum balance is 5000 I think and that's the maintaining balance as well.
1 person likes this
@kayedanda (1850)
• Philippines
24 Aug 08
hee hee. that's ok. any input is welcome. i found a card best suited for people in the philippines like me who work online. and that best part? i can open it for free :D
@pehpot (4762)
• Philippines
24 Aug 08
sad to say for me because I cannot have a Union card. I vowed to hate that bank forever. I have 3 very frustrating experience regarding that bank, in the same branch, so I said to myself i would never step foot on that bank again. Imagine I just went there to make some transaction and I was the 8th or 10th on the line and it took an hour before they could serve me, an it happened 3 times. My option now is when I reached pay out I'll just let it stay in my paypal account to accumulate and have my sister's mother in law who is the US to get it for me ( I am thinking of transferring it to her paypal account) i am not yet in hurry to get it because I am saving the income here for the kid's toy. As for you, well I hope you'll have an easy time applying for a card.
@tyler1990 (47)
• Philippines
24 Aug 08
You'll just need Php2000.00 to open an account in BDO.
1 person likes this
@rsa101 (38166)
• Philippines
23 Aug 08
Well I guess you go to BDO website. There i think there are inforamtion about how to open an account with them. But if I were you, you should follow the suggestion of the above person. It is better to have an Eon Card than have a saving account just for that. Eon card does not require that you put in money in that account and does not require you to have maintaining balance on it.
1 person likes this
@julyteen (13252)
• Davao, Philippines
23 Aug 08
never tried with BDo but i inquire last when i went to their branch that we need PHP 2,000 to open an account for them. i am a verified user of paypal but i am not using BDO card. I used EON card or cyber account, this card is design for those people who earn online. you can apply this card to any union bank branch nationwide. you only pay PHP 350 for annual pay and no maintaining balance.
