How to Open a Metrobank Savings Account 2018

Don’t have a savings account yet?

Why not open one? Having a bank savings account is important because you can use it to save your money or to receive remittance or funds.

And if you think that opening a Metrobank savings account requires a lot of documents or you think it takes time to apply, well, fortunately, it’s very simple to open an account with Metrobank.

Requirements

You only need 2 things to open a Metrobank Savings Account:

• 1 valid ID (with picture and signature)
  • Passport (including those issued by foreign governments)
  • Driver’s License
  • UMID or SSS ID
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) clearance
  • Police clearance
  • New Postal ID
  • Voter’s ID
  • Tax Identification Number (TIN) card
  • Other accepted valid IDs and documents
• Initial Deposit 
  • ₱2,000 for regular Metrobank ATM/Debit Card Savings Accounts
  • ₱10,000 for regular Metrobank Passbook Savings Accounts
  • ₱10,000 for regular Metrobank Checking Accounts

Generally, Metrobank would only require you to present your valid ID and a photocopy of it for their records. And upon account opening, you will be required to make the initial deposit depending on the type of Metrobank Savings Account you’d like to open.

Depending on the branch and other circumstances, the bank officer may also require you to submit additional requirements if necessary including:

• TIN ID
• 1×1 or 2×2 pictures (most recent)
• Barangay Clearance or Certificate

In most cases, TIN or Tax Identification Number is required to open a bank account.

If you are employed, you should have gotten your TIN the moment you started with your employment. If you don’t know what it is or where to find it, you may check your ID or pay slip or you may ask your Company HR officer about it.

If you’re unemployed, a housewife, or a student, and you don’t have a TIN yet and the bank requires you to secure a TIN first before you could open a bank account, you may follow these steps:

• Prepare your Valid ID and other supporting documents (NSO/PSA birth certificate, barangay clearance, etc.)
• Get a certification from the bank that you are applying for TIN for bank account opening purposes
• Go to the nearest BIR office and fill out BIR Form No. 1904
  • BIR Form No. 1904 is for One-Time Taxpayer and Person registering under E.O. 98
• Submit your Valid ID and Bank Certification for Account Opening and follow the instructions given to you by the BIR officer.

Important: You can only have 1 TIN. Having more than 1 TIN is punishable by law. Never attempt to apply for a TIN again if you know that you had one before. Ask/inquire the BIR instead to look up for your TIN records using your personal information and employment history.

Steps on How to Apply for Metrobank Savings Account

1. Go to the nearest Metrobank branch.
2. At the bank, ask the Guard on Duty where to go for New Account Opening.
3. Inform the Bank Officer that you want to open a Metrobank savings account.
4. Fill out the Customer Information Form (CIF).
5. Sign the Customer Signature Cards.
6. Submit your Valid ID or supporting documents.
7. Give your Initial Deposit.

After the account officer verifies/validates your Metrobank Savings Account application, your ATM card will be activated and it will be given to you within 30 minutes to an hour. It may take a bit longer if their system encounters some issues, which rarely happens.

Once you have your ATM card, you will need to change PIN at the ATM machine and you may start using it for your banking transactions!

Why Metrobank?

Metrobank is one of the largest and most trusted banks in the Philippines. Aside from that, Metrobank has sophisticated facilities that will make your banking transactions easier, faster, and convenient including:

• Metrobank Cash Accept Machine for easy and fast deposit transactions
• Metrobank Direct for Metrobank Online Banking
• Metrobank Mobile App for Metrobank Mobile Banking

Metrobank, just like BDO and BPI, has lots of branches, therefore it’s very accessible.

Types of Metrobank Savings Account

• Passbook Savings Account
• Metrobank Debit/ATM Savings Account
• MetroDollar Savings Account
• Other Foreign Currency Savings Account (FXCY SA) which are available at selected branches
  • Dollar
  • Euro
  • Japanese Yen
  • British Pound*
  • Swiss Francs*
  • Chinese Yuan*
  • Canadian Dollar*
  • Australian Dollar*
• Fun Savers Club
• Fun Savers Club Gift Check (FSC-GC)

Mertrobank Rates and Fees

Check the table below for the types of Metrobank Savings Account and their Initial Deposit, Maintaining Balance, Interest Rates, and Fees.

Features and Benefits of Metrobank Debit/ATM Savings Account:

1. ATM Card

It comes with an ATM card that makes it easy for you to do our banking transactions using the ATM machine and Express Deposit Machine.

2. Bills Payment

You can pay your bills at any of Metrobank ATMs (over 1,000) and other BancNet ATMs (over 2,600) nationwide.

3. Shop without Cash

You can shop without cash at POS or point-of-sale terminals located in several stores, supermarkets, and establishments.

4. Shop Abroad

You can shop abroad in any Maestro-accredited establishment, or get cash in Cirrus-accredited banks in the currency of the country you’re visiting.

5. You can buy prepaid phone PINs

6. Other Features / Details of Regular ET (e-Teller) Metrobank Savings Account

• Initial Deposit: Php 2,000
• Maintaining Balance: Php 2,000
• Balance to Earn Interest: Php 10, 000
• Interest Rate: 0.250%
• Below Maintaining Balance Fee: Php 300
• Withholding Tax: 20%

Metrobank Hotline

For inquiries about Metrobank products and services, you may call their hotline at 870-0700 or you may visit the nearest Metrobank branch. 

READ ALSO: 

• How to Enroll in Metrobank Online Banking
• 3 Ways to Check your Metrobank Account Balance