BPI Dollar Savings Account
On Banking
BPI Dollar Savings Account
BPI has a deposit product named Express Dollar Savings.
I came to know this when I tried to deposit a check in US Dollar I received as payment.
Read: Valid ID in the Philippines
The BPI branch teller told me that what I have is a BPI Peso Savings Account and a check in US Dollar or Singapore Dollar for instance is not allowed.
The Bank Teller told me to open a Dollar Savings Deposit Account where my dollar check will be deposited.
Your BPI Dollar Savings Account will allow you
1. To Earn Interest
2. To Enjoy international ATM convenience with the Express Teller International ATM card that comes with your Express Dollar Savings account.
3. To Receive remittances from key cities worldwide via telegraphic transfers.
4. To accepts a wide range of deposit items- whether cash, dollar checks, travelers' cheques or demand drafts, you can deposit them all in your account.
You may also enrol your BPI Dollar Savings Account for online banking.
If you intend to open an Express Dollar Savings Account or a Dollar Savings Account with passbook, the required initial deposit is $500.
Related: BPI ID Requirements
The required monthly average daily average to earn interest is also $500.
The interest rate per year is 0.250%.
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Bigwas
Bigwas blog about Criminal law and Procedure, Criminology and Crimes, Philippine Banking and Finance, Insurance and Investment.