If you’re looking for a bank to open a savings account with, there are a number of commercial banks out there which could offer something that you need. But with so many options available, it’s important to know which features to look out for.
In the Philippines, the United Coconut Planter’s Bank (UCPB) is one of the more seasoned universal banks belonging to the top 20 banks in the country in terms of assets. In this post, we will take a look at the features, services, and requirements needed to open your own ATM savings account with UCPB. Here’s how:
Applying for a UCPB ATM Savings Account
When you apply for a UCPB ATM Savings Account, you get to enjoy the following perks and services:
- Initial deposit and average daily maintaining balance required is only Php 2,000.
- The minimum balance to earn interest is Php 10,000.
- Annual interest rate of 0.25%
- Account balance and transaction history can be easily monitored through UCPB’s online statement of accounts
- Monitor your account status and activities using UCPB’s Automatic Transfer Arrangements (ATA).
- Use your cash balance in your account as collateral for back-to-back loans.
- Account deposits up to Php 500,000 are automatically insured with the Philippine Deposit Insurance Corporation (PDIC).
Note: Bring the original and a photocopy (front and back) of the following required documents to open an account with UCPB:
- Any of the following government-issued IDs:
- Valid passport
- Driver’s license with official receipt
- In the absence of the above-listed government-issued IDs, any two (2) of the following secondary IDs or documents may be used:
- Company ID bearing the applicant’s photo
- PRC License
- Valid SSS/GSIS ID with picture
- Tax Identification Number (TIN)
- NBI/Police Clearance
- Document permit or license to carry firearms
- The initial deposit required to open a regular ATM savings account
- Visit the nearest UCPB branch in your area and bring all the necessary requirements listed above including the required initial deposit for your savings account.
- Proceed to the new account section and ask assistance as to where you can get a number and wait for your turn to be accommodated by the bank officer.
- When it’s your turn, the bank officer will provide you a set of application forms that you must fill out completely. Make sure to double-check all the information you provide in the forms to avoid any hassle in the processing of your application.
Pay the initial deposit required to open a regular savings account. Upon receipt of payment, the bank officer will issue you a deposit slip that you will need to provide the collections officer who will release your ATM card and account documents upon notification or as per instruction.