ATM Savings Account
- Savings Deposit Account that allows you to save and earn a fixed interest rate and enjoy a 24-hour banking convenience with the use of ATM card.
- Withdraw anytime thru Bancnet, Megalink and Expressnet ATMs nationwide.
- Avail of the Bancnetonline facilities thru the use of their ATM card
- Client may avail of the following ATM Services 24 hours a day, 7 days a week: (a) Balance Inquiry; (b) Bills Payment; (c) Cash Withdrawal; (d) Cashless Shopping; (e) Funds Transfer; (f) Checkbook Request; (g) Request of mini-statement of account; and (h) PIN Change
|Regular Client||SSS Pensioner||Employee’s Payroll|
|Minimum Initial Deposit||₱500.00||₱100.00||₱100.00|
|Maintaining balance requirement-based on MADB¹||₱500.00||₱100.00||₱100.00|
|Required MADB¹ to Earn Interest||₱1,000.00||₱1,000.00||₱1,000.00|
|Gross Interest Rate Per Annum||0.25%||0.25%||0.25%|
|Evidence of Deposit||ATM||ATM||ATM|
|Maximum Withdrawal per day||₱20,000.00||₱20,000.00||₱20,000.00|
¹MADB – Monthly Average Daily Balance
Fees and Charges
|Balance Inquiry Fee (Other Banks ATM)||₱1.00|
|Withdrawal Fee (Other Banks ATM)||₱10.00 – ₱13.00 (depending on servicing bank)|
|Falling Below Minimum Balance³||₱200.00 / Waived for SSS Pensioners’ and Payroll Accounts|
|Account Dormancy⁴||₱30.00 per month|
|Replacement of Lost/Damaged Passbook||₱100.00|
Change of ATM PIN
₱50.00 plus ₱20.00 for every additional sheet
|Certification Fee||₱200.00 plus ₱30.00 (documentary stamps)|
|Withholding Tax for Interest Earned||20%|
²Account Closure Fee will be collected if account is closed within 30 days from account opening.
³Falling Below Minimum Balance Fee will be collected if account falls below the required minimum MADB for two consecutive months.
⁴Account Dormancy Fee will be collected if account is dormant and falls below the required minimum MADB.
- A savings account is dormant if it has no client-initiated activity for two (2) years.
- Collection will start five (5) years after the last client-initiated activity date.
Benefits to Clients
- Client can access their funds anytime and anywhere in the Philippines.
- With withdrawal limit of ₱10,000.00 per transaction (Withdrawal limit may vary depending on the bank)
- Account earns interest
- Completely filled-out bank forms
- Customer Information Sheet (CIS) for Individual Clients
- Signature Card
- Presentation of at least one primary ID or two valid secondary IDs, one of which with photo and signature
- Additional for SSS Pensioners Acccounts:
- SSS Identification Card/UMID
- Letter of Introduction from SSS
- Additional for Employees’ Payroll Accounts:
- Employer with existing MOA-Payroll arrangement with the bank
- IDs should be the Company ID plus additional government issued ID
For more information, please feel free to call or visit your nearest or preferred OF Bank Branch.