BDO Junior Savers Club and Metrobank Fun Savers Club

I can still remember how my mom taught me how to manage my money when she opened a bank account for me.  My dad also taught me how to earn my own money when he helped me with my "samalamig" business one summer vacation way back 1993.  All my ang paos (cash gifts in a red envelop) and all income from my "samalamig" business were personally deposited by me on my bank account.  At an early age, I already learned the value of money and saving for the future.

We received cash gifts during Baby C's baptism and the first thing that entered my mind is to open a bank account for her.  I was torn between Banco De Oro Kiddie Savers Club and Metrobank Fun Savers Club.  Yes, the interest and the requirements are the same but they have different perks and privileges.

I really wanted an account with Metrobank because they offer a free insurance and my mom also gave Baby C an ang pao with a specific intruction to open up a Metrobank Account for her.  However, I ended up opening an account with BDO because a branch is near our house.  Then recently, Metrobank opened a branch which is just a stone throw away from my work place so I also opened an account with Metrobank (ITF Account) using the money given by my mom and cash gifts from generous relatives and friends who already gave their birthday gift for Baby C in advance.

For both banks, you will need the following requirements:

1.  Photocopy of the birth certificate of your child (bring the original for verification)

2.  1x1, 2x2 or passport size picture of the parent/s who will open the account

3.  2 valid ID of the parent/s opening the account

4.  Initial deposit.

After submitting all the foregoing requirements, you will be given forms to fill up.  

Metrobank Forms

After 30 minutes or so, you will be handed these passbooks and you're done!

Metrobank Fun Savers Club

BDO Kiddie Savers Club.  You have to come back for the membership card.

Below is a table for easy comparison of the perks and features of the two banks:

	METROBANK	BDO
Initial Deposit	P500*	P500**
Maintaining Balance	P500	P500
Balance to Earn Interest	P4,000	P500
Interest	0.25%	0.25%
Service Fee for below minimum balance	P300	P300
Welcome Gift	Insulated Lunch Bag	Pencil Case (but I did not receive any)
Educational Trust Benefit	Free educational trust benefit worth P50,000 (with minimum ADB requirement of P4,000)	None
Accident Insurance	Free personal accident insurance worth twice the ADB, not to exceed P1 million (with minimum ADB requirement of P4,000)	None
Discounts and Privileges	Exclusive discounts and privileges from partner establishments	Discounts and freebies at participating merchants

 

*Peso or US Dollar savings accounts are eligible for enrollment

**In support of the Banking On Your Future (BOYF) program of Bangko Sentral ng Pilipinas (BSP) through the Bank Marketing Association of the Philippines (BMAP), and to promote the habit of saving money among children, BDO launches the Junior Savers Club (JSC) BOYF with as low as Php100.00 initial deposit. Build your balance to P500.00 and enjoy discounts and freebies at their partner stores.  JSC BOYF program will run from January 1, 2013 up to December 31, 2013.

For more information, please contact:

BDO Customer Contact Center at 631-8000
Website: https://www.bdo.com.ph/personal/accounts/peso-savings-account/junior-savers

Metrobank at 8700-700
Website: http://www.metrobank.com.ph/personal_product.asp