I created this post in 2013 but I am posting an update now, November 2019.
Currently, I am not maintaining my Easy Savers anymore and have switched to the regular debit account but still with BPI Family. I am exploring more about Mutual Funds and UITF and so I've opened another account that has no charges when withdrawing money.
Currently, I am not maintaining my Easy Savers anymore and have switched to the regular debit account but still with BPI Family. I am exploring more about Mutual Funds and UITF and so I've opened another account that has no charges when withdrawing money.
Napansin ko na maraming tumitingin ng tungkol sa savings bank na posts ko. Nilagay ko 'to rito almost ten years ago and thanks, everyone, for continuously accessing them but we now have better options if we're talking about the interest that our money will gain while deposited.
Unfortunately, I wasn't able to keep the two bank accounts that I wrote about before and stuck with BDO because there's a branch a few blocks away from home making it the most convenient traditional bank for me at the moment. And well, my credit card is still with BDO so yeah.
While the information in this post are still relevant. Digital banks are emerging these days and I made the switch. Here's my review of two Digital Banks here in the Philippines:
Interest Rate - 0.0005%
However, if you're stilling looking for the account with no maintaining balance. Continue reading below:
I used the money from my accidental picky coin bank to open a new savings account, after a lot of researching about which type of account would fit my banking needs best, I chose BPI Easy Saver.
Bakit kailangan magbukas ng Savings Account? link: here.
Activate Online Fund Transfer to Anyone (BPI Mobile App) link: here.
My reasons why:
1. You can create an account with only P 200.00
2. NO MAINTAINING BALANCE
3. With P 1000.00 in your account, your money would already start earning interest.
I researched the difference of BPI Family and BPI Islands and found out that Family Savings gives bigger interest of 0.500% Per Annum compared to the latter with 0.250% Per Annum. I know that the interest rate is so small but it's better than just hiding your money in some place where it won't earn interest at all, right? And luckily for me, a branch is just walking distance from our home; saves me fare and time.
4. Can also be used as Debit Card using BPI's E.P.S (Express Payment System) in more than 13,000 participating establishments.
Fees:
1. P 50.00 for the Expressteller Card
Easy Saver's Card is just like the regular ET card.
2. There's a fee of P 5.00 for every ATM withdrawal (maybe 11.00 if using different bank's ATM) and P 100.00 for over-the-counter withdrawals.
EDIT: 3. ALL customer- initiated debits are subject to P 5.00 service charge.
4. Be aware of 05SI charge at the end of the month.
05SI is the accumulated cost of withdrawing from a non-BPI Family ATM and it's P 15.00/transaction. Now disregarding what I have written above, a withdrawal using another bank ATM would cost you P 20.00.
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4. Be aware of 05SI charge at the end of the month.
05SI is the accumulated cost of withdrawing from a non-BPI Family ATM and it's P 15.00/transaction. Now disregarding what I have written above, a withdrawal using another bank ATM would cost you P 20.00.
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Requirements:
ID
Picture
P 200.00
P 50.00
It's not the all about the money you've earned but the money you've saved. ;)
Kamusta naman 'yang motto ko. Hahaha. Motto credits to whoever said that first.
To those who prefer the convenience of cashless transactions/spendings/payments that's why you're searching for a suitable savings account. Here's another bank product you can compare this S.A. with: Eastwest Bank Basic Savings Account.
How do you manage your bank accounts? Want to know the differences among Debit Card, Prepaid Card and Credit Card? Click: here.
To those who prefer the convenience of cashless transactions/spendings/payments that's why you're searching for a suitable savings account. Here's another bank product you can compare this S.A. with: Eastwest Bank Basic Savings Account.
How do you manage your bank accounts? Want to know the differences among Debit Card, Prepaid Card and Credit Card? Click: here.
Everything, in time. 💖
I always have coins in my purse, ideally I have 10.00, 5.00, 1.00, .25 and these days even .10 and .5 coins.
Why? The main reason for carrying coins is I dislike paying PUV drivers with paper bills. As much as possible, I try to pay them the exact amount. This practice also saves them the hassle of needing to compute my change while driving though I assume that it's already easy as pie for them and for other events when they don't have changes to give which will end up in two ways; just letting you ride for free or not giving you a change at all. Having experienced the latter was probably the reason why I love coins now. Hehehe.
Another thing, I cleaned up and was able to gather coins of .25, .10 and .5 which amounted to more or less P 50.00. I am trying to dispose of them now by dropping some on donation boxes I see in random places (I know it's a small amount but better than nothing) and by paying the cashiers. I experienced paying an Ate with exact amount until the last cent which was something like .85 and she smiled at me with her I-don't-really-understand-expression, was I the first one to do that? I think no naman!
Okay, so, what's a picky coin bank?
Apparently, there's this concept of choosing a certain money denomination which you're not allowed to spend. You'd have to place it all in your coin bank. And when filled, you can choose to deposit the coins in your savings account or treat yourself for a job well done.
Apparently, there's this concept of choosing a certain money denomination which you're not allowed to spend. You'd have to place it all in your coin bank. And when filled, you can choose to deposit the coins in your savings account or treat yourself for a job well done.
And my accidental picky coin bank?