Of all the major banks in the Philippines that I examine, the banks that offer the lowest maintaining balance are BDO, Metrobank, BPI, UCPB, PNB, ChinaBank, DBP, AUB, RCBC, EastWest Bank.
I notice in these banks that the ATM accounts have a lower maintaining balance compared to the Passbook accounts.
That’s why most of the accounts listed in the table below with low maintaining balance are ATM accounts, more particularly, the ATM accounts for OFWs. But you can open an OFW account in these banks if you want to even if you’re a non-OFW. You will just need a simple “DISKARTE” to do that.
IMPORTANT! What I also notice for most bank accounts with low maintaining balance is that they can have hidden service fees or hidden conditions you should meet. Like withdrawal fees and a required deposit/withdrawal transaction in a year.
You should take note of those fees and conditions in order to save and keep more of your hard-earned money! I write some Notes in the table. Just click the plus (+) button to view those Notes.
The 0 (zero) figure in the table means zero maintaining balance or no maintaining balance and no initial deposit.
In the table, you can sort the Maintaining Balance column from lowest to highest or highest to lowest. The same goes for the Initial Deposit column.
Top Bank Accounts with Lowest Maintaining Balance in Philippines
|wdt_ID||No.||Type of Bank Account||Maintaining Balance||Initial Deposit||Notes|
|1||1||Asia United Bank (AUB) Redi Money MasterCard ATM Account (for OFWs)||0||0||Free withdrawal at any AUB ATM machines|
|2||2||Asia United Bank (AUB) Starter Savings ATM Account||0||0||P5 service fee per withdrawal in any AUB ATM machines|
|3||3||BDO Kabayan ATM Savings Account (for OFWs)||0||100||Requires at least 1 withdrawal/deposit transaction in a year or else you account will be converted to regular account with maintaining balance of P10,000.|
|4||4||BPI Direct Savings Bank's Bpinoy Savings Account||0||0||Requires at least 1 withdrawal/deposit transactions every 3 months|
|5||5||BPI Easy Saver (Kaya Savings) ATM Account||0||200||P5 service fee per withdrawal in any BPI ATM machines|
|6||6||BPI Padala Moneyger||0||0||Requires at least 4 withdrawal/deposit transactions in a year|
|7||7||BPI Pamana Padala ATM||0||500||Requires at least 4 withdrawal/deposit transactions in a year in a year|
|8||8||ChinaBank Overseas Kababayan Savings ATM Account||0||0||Free withdrawal at any ChinaBank ATM machines|
|9||9||Development Bank of the Philippines (DBP) EC ATM Account (for OFWs)||0||0||Free withdrawal at any DBP ATM machines|
|10||10||LandBank Bagong Bayani ATM Account||0||100||Free withdrawal at any LandBank ATM machines|
|No.||Type of Bank Account||Maintaining Balance||Initial Deposit||Notes|
In choosing a bank, find one that is most convenient for you. For me, I find it more convenient to use BDO, particularly the BDO Kabayan Savings ATM Account. It has zero (0) maintaining balance. Convenience is better with BDO than other banks. It has the largest network of banks (largest number of branches). So great accessibility. It has also great customer service support (24 hours hotline), free withdrawals in any BDO ATMs, and only requires at least 1 withdrawal or deposit transaction in a year.