Thursday, November 6, 2008

Identification (ID) Cards as Bank Requirements!

The other day, I was talking about saving money for the future and compared two known and prominent banking institutions in the country, Banco de Oro (BDO) and Land Bank of the Philippines. I also tackled some information on initial deposits and maintaining balances for the said banks, which in turn, I find BDO as the more favorable. Today, I will tackle the most important bank requirement/s before opening a personal passbook savings account — the identification cards or IDs.

ID cards are the most important requirement a bank should ask from you before opening a personal passbook savings account. Aside from giving them a recent 1x1 or 2x2 photo or ID picture (which some banks does not even require), identification cards are always on top on their list when trying to open a savings account from any bank establishments or institutions. Listed below are some of the identification or ID cards a bank institution would ask before opening ANY savings account.

Photo credits to

Identification cards usually classified into two: the primary and the secondary identification cards. Primary identification cards are considered very important. Apparently, secondary IDs are less important but some banking institutions would require some of them.

Primary Identification Cards
• Passport;
• Foreign passport with English characters or translations with reliable and exact residence address;
• Alien Certificate of Registration (if immigrant);
• Driver's license with validated official receipt;
• Professional Regulations Commission (PRC, for Philippine residence) ID/License;
• Green Card (if immigrant);
• Current company employment/student ID (with school registration form for verification);
• Social Security ID with picture and signature;
• Tax Identification Number ID (TIN);
• Locally issued credit cards (current, with picture); and/or
• Senior Citizen IDs.

Secondary Identification Cards
• Foreign ID or ID Card with picture issued by the country of origin (if immigrant);
• Postal ID Card (Philippine residence);
• Firearm License with picture;
• National Bureau of Investigation (NBI) Clearance with picture (Philippine residence);
• Voters ID
• Barangay Certificate or Clearance with picture and dry seal from the barangay where it was issued;
• POEA Card with picture; and/or
• OFW Card with picture issued by POEA.

More or less, some these IDs or identification cards are also used by foreign banks (e.g., Bank of America). Check your local banking institutions for ID cards requirement. You may post your ID requirements in your country at the comment section below. Always remember that banking institutions are very strict in terms of IDs and other requirements. Make sure that what you give them is the real thing!

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