Dollar Savings Account
A US Dollar-denominated savings account with interest and quarterly crediting, available for both individuals and corporates, requiring a minimum initial deposit and maintaining balance.
Save in USD, earn more—apply at any branch!
Requirements for Account Opening
Single Proprietorship
- Certificates of Registration issued by the Department of Trade and Industry (DTI); and
- Secondary license or certificate of authority issued by the Supervising Authority or other government agency based on the nature of business, such as those in item 3 below.
Corporation or Partnership
- Certificate of Incorporation issued by the Securities and Exchange Commission (SEC);
- Articles of Incorporation/Partnership;
- By-Laws, except for One Person Corporation (OPC) which were not
required by SEC to submit By-Laws (just Articles of Incorporation); - Latest General Information Sheet which lists the names of directors/trustees/partners, principal stockholders owning at least twenty percent (20%) of the outstanding capital stock, primary officers, such as the President and Treasurer;
- Board or partners’ resolution duly certified by the Corporate/Partners’ Secretary, or other equivalent document, authorizing the signatory to sign on behalf of the entity; and
- Secondary license or certificate of authority issued by the Supervising Authority or other government agency, based on the nature of business, such as in item 3 below.
Secondary license or certificate of authority issued by the Supervising Authority or other government agency, such as:
- Certificate of Registration from the Bangko Sentral ng Pilipinas (BSP) & Anti-Money Laundering Council (AMLC) for money changers/foreign exchange dealers and remittance and transfer companies;
- Certificate of registration issued by AMLC for casinos and DNFBP’s (see Part I. Section 2.33);
- Charter Certification from Rotary International in Chicago (main office) for Rotary Clubs;
- Accreditation from Philippine Council for NGO Certification or PCNC for Non-Government Organizations (NGO) or Non-Profit Organizations (NPO) (can be verified at http://www.pcnp.com.ph/ngo-list.php)