In 2009, Banco de Oro Universal Bank Inc. (BDO) was included in the top 10 companies in the Philippines. It was managed and administered by SM Investments Corporation.

Finance Asia is a popular finance and magazine publication and magazine in Asia and the Pacific. It conducted a survey from June 2009 to May 2010 to know who are the best banks in the Philippines. BDO got the recognition for best domestic bank in the Philippines for 2009.

BDO became so famous across the Philippines you can see it in almost every town and SM malls. It caters to all people with serivices and products such as remittance products, loans, savings account, checking account, investment funds and a lot more.

Sometimes it is hard to open a bank especially if you do not study what you will do. In opening a bank account, complete requirements is very important and just obey the tips outline below.

1. Choose which branch you will open for an account. It is very important to select a branch near your area of residence or work.

2. Bring all needed requirements for opening a bank account which are listed below.

2.1 Two recent IDs with your personal information and photo and two photocopies of it

Typical ID acceptable in most of the banks includes: GSIS ID, OWWA ID, PRC ID, Postal ID, Senior Citizen ID, Driver License and other ID valid to the bank.

2.2 The bank needs you to handle a copy of your billing statement which can be credit card bill, telephone bill and utility bill.

2.3 Two (2) 1×1 ID photo

3. Tell the bank teller you like to apply a bank account and afterward fill-up all necessary forms that will be given to you.

4. Pass all requirements and application forms together with the initial deposit for your savings account. Normally, the first deposit is in the range of P50-P100,000 depending on the the kind of account.

5. Claim your ATM card or passbook which is usually available for pick-up after 4-5 banking days. You may activate your ATM card in the ATM machine near the bank.

When opening a bank account, it is very important to ready all requirements before going to the bank to avoid delays and hassles. BDO bank can be one good choice in applying for a bank account in the Philippines.

Gily Tenorio is a personal finance blogger who loves writing on financial management, saving, investing, stocks, mutual funds and make money online. To get helpful information on how to apply a bank account at BDO Philippines, you may visit Financial Management blog for quality helpful articles on financial management, saving, investing and online money making.