Bank Accounts for people who does'nt want to visit regular Banks for deposits
The BPI / Globe BankO, the first Microfinance Banking Account for Filipinoes
For some Filipinoes who hesitates to enter or visit banks, BPI and Globe created a bank account that suits them. It was named BankO by the partnerships of Globe and the Bank of Philippine Islands. BanKO is the first to offer banking services through partner outlets. These are pawnshops, drugstores, grocery stores, internet cafes, gasoline stations, and the like, that are selected, trained and accredited to accept BanKO account applications and to perform CASH-IN (convert physical money to electronic value credited to the customer’s account) and CASH-OUT (convert electronic value debited from the customer’s account into physical money functions). Customers can transact in any of the 1,500 BanKO partner outlets nationwide.
BanKO accountholders have easy access to other services through their mobile phones. They can easily check account balance, send money, buy load (prepaid airtime), pay bills, just by accessing the BanKO menu on the mobile phone. BanKO transactions do not use up airtime and can be done even when accountholders do not have prepaid airtime load.
The BanKO savings account is designed to cater to the needs of the unbanked. This account does not require customers to maintain a minimum balance and they can save as little as P50 at a time. BanKO customers can cash in and cash out funds in their accounts through 1,400 BanKO partner outlets nationwide.
All BanKO accountholders are also provided with an ATM card which can be used to withdraw funds from any ATM nationwide. Each ATM withdrawal is charged a minimal service fee of P20 (for every P4,000 withdrawal).
Additional benefits are provided to depositors who save more. Deposit accounts with P2,000 average daily balance can earn 3% interest rate per annum, or 1% interest per annum PLUS free life insurance coverage of up to five times the size of their average daily balance (up to P200,000 maximum coverage).
To open a BanKO account, just visit any BanKO Partner Outlet with the following requirements:
- Globe or TM SIM card
- P100 (P50 for the ATM card and P50 for the initial deposit)
- Photocopy of 1 valid ID or barangay certificate with photo
BanKO charges a minimal service fee for cash-in, cash-out transactions, as follows:
Most informations regarding this account came from the official BPI / Globe BankO website at: http://www.banko.com.ph/home to acquire one, just visit their website and know more, I will posting regarding it very soon.
How to Acquire your own BPI / Globe BankO Account...
1). Visit any Globe BankO partners stores that has the Globe Banko posters displayed on their establishments. Some of the BPI / Globe BankO partners are, Generika-Drugstore, Tambunting Pawnshop, and many other retail partners nationwide, just visit their websites for complete listings of these retail partners www.banko.com.ph
2). Present the following upon visiting the retail outlets and partners; a Valid I.D. any government I.D.s will do, like BIR, Voter's I.D.,SSS I.D.,Philhealth, GSIS, Drivers Lisence, NBI-clearance and any other Government issued I.D. or your company I.D. If non of this I.D.s are available, just bring a Barangay Clearance, it will do. And of course, don't forget to bring P100 Pesos, for your initial-deposit of P50 and the processing fee of P50, total of only P100 pesos. They also require you to have have a Globe Sim of course, since you will be needing them for your account since your Globe BankO is the first ever Mobile-Banking-Account, which means, all your transactions can be made through your mobile phone. So don't forget to bring your Globe mobile phone. And just like any other banks, bring a 1x1 latest colored photo of you, it will be needed for your application form.
3). The Globe BankO representative will give you a form to fill-up, ask for your mobile number, and of course for your initial loading ang processing fee of P100 pesos. After filling up the form, he / she will configure your Globe mobile phone, to activate your Globe BankO account, so that your account will be linked to your mobile phone of course, which you will be needing for your transactions.
4). After you submit your form, picture and paid the amount above, and after he / she has finished configuring your mobile phone for your account, the representative will give you, your ATM Kit, which ofcourse consist of your BankO ATM-Card, and some instruction manual or liftlets, so that you will know how to transact using your Globe BankO account. By the way, your ATM kit doesn't contain your PIN-Slip, since your ATM PiN is also your MPIN, the PIN that you will be using in your mobile phone. Don't worry, the representative will guide you on how you can acquire your MPIN.
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