How I opened my BDO Kabayan Savings

Most of you know that I will be venturing to be an OFW soon.  Opening a savings account is a must because this is where I will place my remittance.  I've decided to open a  BDO Kabayan Savings because  it was near our place and I was enticed with the idea that there is no maintaining balance compared to their regular savings account.

BDO Kabayan comes with a yellow passbook and an ATM which you can enroll for online banking.

The requirements are the following:

• 2 Government issued ID
• Contract copy
• PDOS copy
• Passport

Remarks:  As much as possible they want to see the original ones especially the contracts and passport,  but I told them that all was at the agency already.  I just got it photocopied because I will open a bank account with them.  They are kind of strict especially with the requirements because after all there is no maintaining balance.

The clerk at the bank told me that I need at least 1 transaction per year for this account to remain a KABAYAN SAVINGS or else it will be converted into a regular savings account which have a maintaining balance of Php10,000 and aside from that if I can't maintain the account they will charge Php300 for dormancy.. hefty right?

By the way there is a Php100.00 amount value for opening the account. and It will take a week to get the ATM.  So, I will be back on Tuesday.   According the their website, it's perks is Free Life and Accident Insurance and you can get rewards from it as well.

Regarding their Free Life and Accident Insurance - you have to meet their requirements and enroll it here.

What about you?  What is your bank of choice?