This guide will assist with the necessary information you will need on BPI Kaya Savings account requirements.
Just before we start, a statement on the Bank of Philippine Islands (BPI) website reads, “Effective January 15, 2021, all existing Kaya Savings Accounts will be converted to Regular Savings Accounts”.
Hence for this guide, we shall be using these names interchangeably, do not be thrown away because they mean the same thing.
With the numerous benefits that come with operating a BDI Kaya savings account, like competitive interest on savings, access to a wider ATM network, cashless shopping using BPI e-cards at approved outlets, among others.
It is not surprising that most people would like to have this type of account.
However, before you can have one, you need to know what the BDI Kaya Savings account requirements are. So without much ado, let’s find out.
BDI Kaya Savings Account Requirements
The requirements to open a BDI Kaya Savings account are:
1. Proof of Identification: Residents of the Philippines can submit any of the government-approved cards, whereas foreigners can use their passport or ACR card.
2. Proof of residential address from any document containing your home address
3. Tax Identification Number (TIN)
4. A passport size picture
5. The minimum initial amount for account activation
Who To Contact For Help With The BDI Kaya Savings Account Requirements
Account management and operations are the duty of the Customer Support Service.
For any information regarding your BDI Kaya savings account , kindly contact their customer support department.
There are various ways of contacting them. These include email, phone calls, or visiting any of their branches.
Savings Account Vs Current Account
First of all, a BDI Kaya Savings account is different from a BDI Current account.
Therein lies the difference, though both of these accounts are purposely for holding money; the Savings account is used for keeping money for the future, whereas a Current account is used for keeping money for daily transactions.
Even their names suggest, individuals who operate savings accounts are not allowed daily withdrawals, but current accounts do not work that way.
Individuals are allowed to withdraw as and when they want.
You can find more about this on https://www.bpi.com.ph/announcements/kaya-savings.
This is all that we have for you in “BPI Kaya Savings account requirements.”