BPI Savings Account Requirements: Open an Account with Ease

When choosing a bank to open a savings account, one of the top choices of Filipinos is the Bank of the Philippine Islands or BPI. The BPI savings account already has a proven track record in savings, safekeeping, money management, small business accounts, and even payroll accounts for company salary disbursements. Whatever the purpose for opening a bank account, this article will guide you on how to open a BPI savings account and the requirements for it.

Benefits of Choosing BPI

Whether for a personal savings account, salary account, or business, your bank choice will affect your finances and money management.

BPI’s financial stability

A bank established by the Spanish in 1851 and eventually taken over by Filipinos means, it demonstrated a strong financial capability by weathering every storm for over a century. After all, few banks can boast of surviving two revolutions, World War 2, a bad dictatorship, several coup attempts, the 1997 Asian financial crisis, the 2008 global recession, and the recent pandemic. BPI is the fourth largest bank in the Philippines in terms of total assets. Nationwide, it has over 8 million depositors.

In its existence, BPI has been given numerous awards and recognitions from international award-giving bodies. The most recent award it received was “Best Sustainable Bank in the Philippines” in the 2021 Finance Asia Country Awards.

Accessibility and convenience

BPI is one of the banks in the country with the most branches and ATM networks, with over 900 branches, and up to 30 new branches for further expansion in 2023. Customers can access over 3,000 BPI ATMs, cash-accept machines nationwide, and over 800,000 Cirrus ATMs globally. For further convenience, BPI has online and mobile banking access, cash-accept machines, and some branches open on weekends, especially in malls.

The BPI Express Assist (BEA) online facility allows customers to reserve a timeslot through BPI Express Online to avoid lining up for banking transactions.

Lowest account opening initial deposit

The BPI savings account has the lowest required initial deposit and maintaining balance. You can open a savings account for as low as P200.

BPI and BPI Family Savings Bank Have Merged and Are Now the Same

Beginning on January 1, 2022, BPI decided to absorb BPI Family Savings Bank, the merger now creating a “One BPI.” Before the merger, both banks functioned as separate entities, although BPI Family Savings Bank is a subsidiary of BPI. Thus, customers could not interchange cash deposits, withdrawals, loan payments, or other transactions between the banks. But today, under the “One BPI,” both banks give the same range of services.      

How to Open BPI Account

Firstly, prepare all BPI savings account requirements –

1. One valid ID (original and photocopy) – You need an unexpired government-issued ID that contains your photo, birth date, and signature, such as SSS or UMID card, driver’s license, passport, Philippine National ID, postal ID, PRC ID, and the like. Most BPI banks now have their own scanner and photocopier. However, instead of waiting for the clerk to photocopy your ID and other documents, have them photocopied in advance to save time.

For students, prepare any of the following (original and photocopy):

  • Philippine National ID
  • School ID (with the signature of the principal or school head)
  • Birth certificate signed and certified by the PSA.

Note: IDs such as PhilHealth, TIN/BIR ID, and barangay clearance are not accepted by BPI.

2. Proof of billing – You must submit the latest utility bill to verify your billing and residential address. A billing statement for electricity, water, phone, internet, cable, or credit card will suffice. If you rent a home, the proof of billing can be under a different person’s name as long as you live at the indicated address. However, it needs to be supported by an authorization letter from the person whose name appears on the billing statement. Or you can request a Barangay Certification with “bank requirements” stated as the purpose.

3. 1×1 ID picture – This ID picture will be attached to a signature card that contains your multiple signatures. Note: Most BPI branches now have their own computer camera to generate your picture. Inquire in advance from the branch you will be opening an account if they require an ID picture.

4. Tax Identification Number (TIN) – The TIN is a new requirement to open any BPI account because this will be indicated on the account opening forms. You only need to indicate the number; there is no need to submit the actual TIN ID.

Note: If you are unemployed, you can secure a TIN so long as the following requirements are submitted to the BIR revenue district office (RDO) in your area:

  • An accomplished BIR Form 1904
  • An official ID or document that contains the applicant’s name, birth date, and address, such as a PSA-issued birth certificate, passport, driver’s license, SSS or UMID card, etc.
  • Marriage certificate (for married women)
  • Barangay certification
  • Certification from BPI that you will be opening a bank account.

5. Initial deposit – Depending on the preferred account type you are opening, the initial deposit is P200. However, check with your preferred BPI branch as they might require P500. No initial deposit is required to open a BPI Padala Moneyger or Save-up.

Once you visit your chosen BPI branch:

1. Approach the New Accounts section or table. Inform the clerk what type of BPI account you will be opening.

2. Fill out the application form. While filling out the form, hand over all documents to the clerk. Ensure that you provide complete and accurate information. Double-check the form before handing it back to the clerk.

3. Pay the required initial deposit After the clerk has processed your BPI account application.

4. Wait for the account activation, which is usually activated between 24 hours and 48 hours. For that period, you cannot transact using the new account.

Related: A Step-by-Step Guide On How To Create Your First IPON Challenge

5. After seven banking days, you can now claim your ATM card or passbook from the BPI branch where the account was opened. Just present the BPI savings account number and a valid ID to make a claim.

6. All new ATM cards come with a temporary PIN. For security reasons, you must change it within two days of getting the card.

  • Insert the ATM card into the BPI ATM.
  • Select a language.
  • Press the Change PIN button.
  • Enter the old temporary PIN found on the paper where the new ATM card is attached.
  • Please enter your new six-digit PIN and re-enter it. (Note: All new BPI ATM cards now use a six-digit PIN).
  • When the screen shows “Do you want a receipt?” select “Yes” or “No.”
  • “Successful PIN change” will appear on the screen.
  • After changing the PIN, you can now use the card with the new PIN.

How to Open BPI Account Online

If you prefer opening BPI savings account online, you can open one through the BPI Mobile App. Take note that only the BPI Save Up savings account is available that can be opened online.

1. Download the BPI mobile app from Google Play Store or Apple Store.

2. Select “Open an account now.”

3. Tap “Create a bank account.” You will then see a list of valid IDs you need to create an account. (See BPI requirements above) Tap “Continue.”

4. Answer the question if you are at least 18 years of age, Filipino, and with a permanent Philippine address.

5. Read the privacy statement and select “Confirm.”

6. Enter your mobile phone number and email address, provide an answer to a mathematical question, and select “Confirm and continue.”

7. Enter the one-time PIN (OTP) sent through SMS.

8. You will then see details about BPI Save Up. You will also be asked to receive a BPI ePay Mastercard, an optional and separate e-wallet for online purchases. Read the terms and conditions, check the appropriate checkbox, and select “I agree.”

9. Enter other details such as your name, mother’s maiden name, birth date, country of birth, and place of birth. Tap “Verify Identification” and select the type of valid ID you will upload. Tap “Confirm.”

10. Select “Let’s scan” and scan your valid ID. Be sure to place the ID within the scanning frame and ensure the information is clear and readable. After scanning, select “Okay.”

11. Take a selfie to verify your identity. Make sure your face is at the center of the screen and is not covered in any manner, such as eyeglasses, scarf, etc. Make sure there is adequate lighting.

12. Complete the additional details and review your application.

13. Create your account’s username and password.

14. your deposit account number will appear on the screen after this. Then, read all instructions on how to fund your initial deposit. You must do this within seven days, or the account will automatically close. You can fund the account using Instapay, CAM cardless deposit, GCash, or deposit at any BPI branch.      


Opening a BPI savings account is one of the wisest financial decisions regarding security, convenience, and flexibility. From experienced business owners and those who are still new to the world of personal finance, the bank offerings of BPI are no doubt considered a game changer. Although Filipinos tend to be wise with their money, some may need help managing funds due to a lack of knowledge or access to proper banking resources. Now, everyone can easily manage funds with accessibility and ease. So, wait to open your BPI savings account now!

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