Checking Account

Current Account, otherwise known as a regular Checking Account or Demand Deposit, is a non-interest bearing deposit, which is withdrawable thru the issuance of a check.

Individual Corporation
Regular With ATA* Regular With ATA*
Initial Deposit 5,000 7,000 10,000 15,000
Interest Rate none none none none
Minimum Maintaining ADB (MMADB) to Earn Interest n/a n/a n/a n/a
Minimum Maintaining ADB (MMADB) not subject to service charge 5,000 0.0 10,000 0.00
Manner of Interest Payment n/a
Withdrawal Issuance of check
Dormancy One (1) year from the last customer initiated transaction

Automatic Transfer Arrangement (ATA)

  • A facility wherein the current account is attached to the savings account
  • Funds are deposited and maintained in the savings account
  • Current account can have zero balance without being charged
  • Funds are automatically transferred from savings to current account whenever a check is drawn/ issued or the current account is debited.

CHARGES:

Individual Corporation
Regular With ATA* Regular With ATA*
Below Minimum Maintaining ADB (MMADB) for two (2) consecutive months 200.00 400.00 200.00 400.00
RCOCI Charge
Penalty Charge P200 for every P40,000 or fraction per day per check
Service Charge P2,000 if returned

REQUIREMENTS:

  1. Individual
    • Latest “1 x 1 ID” Picture
    • Two (2) Valid IDs
    • Proof of Billing
  2. Sole Proprietorship
    • Certificate of Registration of Business/Trade Name with DTI
    • Affidavit of Application of Business Name
    • Two (2) Valid IDs of the Proprietor
    • Proof of Billing
  3. Partnership
    • Articles of Partnership with SEC Certificate of Registration
    • By-Laws with SEC Certificate of Filing
    • Affidavit of Application of Business Name
    • Notarized Partnership Resolution
    • Two (2) Valid IDs of the Signatory/ies of the account
  4. Corporation
    • Articles of Incorporation with SEC Certificate of Registration
    • By-Laws with SEC Certificate of Filing
    • Notarized Board Resolution or Notarized Secretary’s Certificate indicating the following:
      1. USB as the Depository Bank
      2. The type of account to be opened
      3. The name of the authorized signatories to the account
      4. The signature combination/s
    • Two (2) Valid IDs of the signatory/ies of the account