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The BPI / Globe BankO, the first Microfinance Banking Account for Filipinos

For many Filipinoes who hesitates to input or see banks, both BPI and Globe produced a bank account which matches them. It had been called BankO from the ventures of Globe along with the Bank of Philippine Islands. BanKO is the very first to offer banking services via associate outlets. All these are pawnshops, drugstores, grocery shops, internet cafes, stores, gas stations, and such which are chosen, trained and licensed to take BanKO account software and also to execute CASH-IN (convert physiological cash to digital worth credited to the client’s accounts ) and also CASH-OUT (convert digital worth debited from the client’s account into bodily currency acts ). Clients can transact in some of those 1,500 BanKO companion outlets nationally.

BanKO account holders have simple access to additional services via their cellular phones. They are easily able to check account balance, send money and purchase load (prepaid airtime) and cover accounts by simply obtaining the BanKO menu onto the cell phone. BanKO trades don’t consume airtime and may be accomplished even if account holders don’t possess prepaid airtime load.

The BanKO savings accounts is intended to cater to the demands of the unbanked. This account doesn’t need clients to keep a minimum balance and they’re able to save as small as P50 at one moment. BanKO clients can cash in and cash out capital from their account through 1,400 BanKO spouse outlets nationally.

All of BanKO account holders can also be supplied using an ATM card that could be used to draw money from any ATM nationally. Every ATM withdrawal has been charged a minimum service charge of P20 (for each P4,000 withdrawal).

Additional advantages are given to depositors who save . Deposit balances together with P2,000 average daily balance may get 3% interest rate per annum or 1% interest per annum PLUS free life insurance policy up to five times the magnitude of their average daily balance (around P200,000 maximum policy ).

To start a BanKO account, simply go to any BanKO Partner Outlet together with the following prerequisites:
  1. Globe or TM SIM card
  2. P100 (P50 for your ATM card and P50 for your first deposit)
  3. Photocopy of 1 legitimate ID or barangay certification with photograph
BanKO charges a minimum service charge to get cash-in, cash-out trades, as follows:

Many information concerning this account came in your official BPI / Globe BankO site in: http://www.banko.com.ph/home to obtain one, simply visit their site and learn more. I’ll be posting it quite soon.

How to Win your BPI / Globe BankO Account…

1). Pay a visit to any Globe BankO partners shops which has got the Globe Banko posters exhibited in their institutions. A number of those BPI / Globe BankO partners are everywhere, Generika-Drugstore, Tambunting Pawnshop and a number of other retail partners nationally. Simply visit their sites for full listings of those retail partners www.banko.com.ph

2). Present upon going to the retail outlets and branches; some Valid I.D. Any authorities I.D.s will perform such as BIR, Voter’s I.D.,SSS I.D.,Philhealth, GSIS, Drivers Lisence, NBI-clearance and some other Authorities issued I.D. or your own firm I.D.. If non of the I.D.s can be found, simply make a Barangay Clearance, it can do. And needless to say, do not neglect to deliver P100 Pesos to the initial-deposit of P50 as well as the processing fee of P50 in total of just P100 pesos. They also ask that you possess a Globe Sim naturally as you’ll be needing them to get your accounts as the Globe BankO is your very first Mobile-Banking-Account so, all of your trades can be reached via your cellular phone. Thus don’t forget to make your Globe cellular telephone. And just like every other monies, deliver a 1×1 most recent colored photograph of you then it is going to be required to your program form.

3). The Globe BankO representative can provide you a form to fill-up, request your cellular amount and obviously for your primary loading and processing charge of P100 pesos. After filling the form, he or she will configure your own Globe cell phone to trigger your Globe BankO accounts in order for your account to be connected to your cellular phone clearly which you’ll be needing for the trades.

4). Once you submit your form, image and compensated the number above, after which he or she has completed configuring your cellular telephone for your accounts, the agent will provide you your ATM Kit that of course include your BankO ATM-Card along with a few documentation or leaflets so you will understand how to transact with your Globe BankO accounts. Incidentally your ATM kit does not include your PIN-Slip as your ATM PiN can also be your MPIN, the PIN you will use in your cellular phone. Do not worry, the agent will lead you on the way you are able to get your MPIN.

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