Ever wonder how checking accounts can save your money? Checking account is a transactional deposit account that you can use for unrestricted deposit, post dated check (PDC) and withdrawal of funds. Most banking institutions offer no fee for these accounts that make checking account a good way for someone to manage and check his/her money.

Also through checking accounts, you can pay your monthly bills, have a remittance of money, and have a debit card that can be used for buying several things, from online to physical transactions.

pnb-checking-account

Philippine National Bank (PNB) is considered one of the banks that offers the cheapest way of opening checking accounts in the Philippines. So to all Filipino overseas working very hard and wanting to make sure that while abroad all your money are saved up safely, having a checking account aside from savings account is the best solution. And worry no more because you can create a PNB bank account online by just going through their official website www.pnb.com.ph.

How to open a checking account at PNB?

You can either open a budget checking account or a regular checking account at PNB.

PNB Budget Checking Account

  • Low maintaining balance
  • Non-Interest earning account
  • Statement of accounts are sent on a monthly basis
  • Issue check as medium of payment
  • Convenient and safer to carry than cash
  • Deposit/Withdraw at PNB’s extensive branch network nationwide
  • 2 photo-bearing government issued IDs (e.g., driver’s license, SSS/ GSIS ID, voter’s ID, PRC license, passport)
  • 2 ID pictures (1×1 or 2×2)
  • Accomplished Client Information application Form, Account Information Form, Signature Card and Conditions Form
  • Required Initial Deposit: ₱5,000.00

Maintaining Balance Requirement

  • Initial Deposit: ₱5,000.00
  • Minimum Maintaining Balance: ₱5,000.00
  • Dormancy: 1 year
  • Dormancy Fee: ₱300.00

Other charges

  • Checkbook cost: ₱175.00
  • Average Daily Balance: ₱300.00

Note: The PNB Budget Checking Account is available at all PNB bank branches nationwide.

  • Non-Interest earning account
  • Statement of accounts are sent on a monthly basis
  • Issue check as medium of payment
  • Convenient and safer to carry than cash
  • Deposit/Withdraw at PNB’s extensive branch network nationwide
  • 2 photo-bearing government issued IDs (e.g., driver’s license, SSS/ GSIS ID, voter’s ID, PRC license, passport)
  • 2 ID pictures (1×1 or 2×2)
  • Accomplished Client Information application Form, Account Information Form, Signature Card and Conditions Form
  • Required Initial Deposit: ₱10,000.00

Maintaining Balance Requirement

  • Initial Deposit: ₱10,000.00
  • Minimum Maintaining Balance: ₱10,000.00
  • Dormancy: 1 year
  • Dormancy Fee: ₱300.00

Other charges

  • Checkbook cost: ₱175.00
  • Average Daily Balance: ₱300.00

Note: The PNB Regular Checking Account is available at all PNB bank branches nationwide.

How to close PNB checking account?

PNB at its exclusive option, close the account upon thirty (30) days prior written notice to Depositor, in any of the following cases:

(a) Depositor’s issuance of three (3) or more check against insufficient funds within one calendar month, of five or more checks within 3 calendar months;
(b) Depositor’s failure to maintain the minimum daily balance for three consecutive calendar months; or
(c) Depositor’s ‘kiting’ operations or repeated issuance of checks against uncollected deposits without prior clearance or arrangement, and;
(d) Bank’s receipt of adverse credit report or finding regarding Depositor, or Depositor’s abuse or improper handling of the account.

The Depositor may request closure of the account any time provided that such closure shall be effected by the bank only after all checks drawn by the depositor against the Account and unissued checks shall have been accounted for to the satisfaction of the bank.

  • All credit balance in the account shall be transferred to the Depositor by way of Manager’s or Cashier’s check.
  • The bank will send a monthly-itemized statement of account together with all cancelled checks.

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Hi! Do you need to have a savings account first in PNB before you can actually open a checking account? Thanks!