Updated December 9, 2020
Sorry, this BPI KAYA no-maintaining-balance savings account is NO LONGER offered by BPI.
They have stopped offering this account since April 20, 2020.
And now they have announced that effective January 15, 2021, they will convert existing BPI KAYA savings account to Regular Savings Accounts.
This means BPI Kaya account owners will now need to maintain at least 3,000 pesos in their accounts. Monthly daily average daily balance (MADB) will now be 3,000 pesos or more.
If your converted BPI Kaya account is not maintained, you will incur a penalty of 300 pesos every month, starting from the last business day of the second month that you failed to maintain your account.
Nagkakaroon ng penalty kapag hindi na-maintain ang account sa dalawang magkasunod na buwan.
If you opened your KAYA account at a BPI Family branch, your maintaining balance requirement could be 1,000 pesos because the required maintaining balance for regular ATM accounts at BPI Family is 1,000 pesos.
But please ask BPI Family. To be sure.
Your existing ATM card is still valid and usable. You don’t need to replace it.
To earn interest, you need to maintain a monthly average daily balance of 3,000 pesos or more.
If you’re just starting in your career or business, and you want a no-maintaining-balance account, think about opening an account with the digital banks ING Bank and CIMB. Just download their apps from Google Play or Apple Store and open your account. Just be ready with your ID and TIN no.
If you have a GCash account, you can start opening there a GSave account — one of the digital accounts offered by CIMB. GCash and CIMB are partners on this GSave account.
There’s also KOMO savings account, another no-maintaining savings digital account offered by Eastwest Bank. Just download the app and open.
They will inform you about how you can receive your debit cards via delivery.
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Most notes below, written years ago, are no longer true, as BPI has stopped offering this BPI Kaya no-maintaining balance account in April 2020, and has announced it will convert all existing Kaya accounts to regular ATM savings accounts.
The popular BPI savings account without maintaining balance — the BPI Easy Saver savings account — is now called BPI KAYA Savings account. Zero pa rin ang maintaining balance requirement.
Just go to the nearest BPI or BPI Family Bank and open with 200 pesos, at least 2 valid IDs, 2 1×1 ID pictures, and 150 pesos for the ATM card or debit card.
Merong branch na nagre-require ng proof of address, so bring one bill (Meralco, phone, Cignal, etc.), or any bill that shows your address is correct and true. Kung walang bill in your name, puede ka ring magdala ng barangay certificate certifying na nakatira ka sa address mo at resident ka sa barangay ninyo.
If you have a BPI Easy Saver account, good for you. Continue saving.
Hindi na ino-offer ito for those opening new accounts. Pero your BPI Easy Saver ay valid pa basta active at hindi pa closed. Kapag Invalid Card na ang nakikita mo sa ATM screen, malamang closed na ang BPI Easy Saver mo. Once na nag-negative balance na, automatic na itong ma-closed.
Itong KAYA Savings account na ang ino-offer ng BPI or BPI Family to those asking about BPI Easy Saver or a savings account without maintaining balance.
Maintain at least 1,000 pesos if you want to earn interest. Super liit nga lang: 0.25%.
Kahit parang walang earnings, ang importante ay meron kang savings. Train yourself to save.
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Why will you open a KAYA Savings Account?
This account is good for those who are not yet able to maintain the minimum balance requirement for regular bank accounts.
It’s better to pay 5 pesos for every ATM withdrawal than paying 300 pesos a month as penalty for not maintaining the balance requirement for 2 consecutive months.
What you will do is to plan your withdrawals so you don’t get deducted a lot of 5 pesos.
. as your first savings account
How to Open a KAYA Savings Account
. Go to a BPI or BPI Family branch.
. Bring:
— two valid IDs
— photocopy of two valid IDs
— 2 1×1 ID pictures
— Bring also a bill with your name and address (Meralco, PLDT, or a credit card bill) just in case the branch requires a proof of address. Some branches accept barangay clearance or certificate as proof of address. Yong ibang branch naman, okay lang na walang proof of address basta meron kang 2 valid IDs.
– For students, bring extra documents, just in case the branch requires more documents:
— your school ID
— current registration card or enrollment card
— NSO-issued birth certificate
— barangay clearance or certificate, or any proof of your address (bill in the name of your father; your birth certificate shows your relationship)
If the branch is strict, inquire at another branch. Or at an Express branch at a mall.
Or simply go to another bank. There are a lot of banks. And if you have time, please comment here or on other banking blogs about banks and bank branches that require lots of documents.
. Pay 150 pesos for the Express Teller ATM debit card.
. Deposit at least 200 pesos.
Dahil libre ang maintenance, merong bayad (5 pesos for every transaction):
- BPI ATM withdrawal
- BPI ATM balance inquiry
- Online fund transfer
- Mobile fund transfer
- Online bills payment
- Mobile bills payment
- Online phone loading
- Mobile phone loading
Ang libre: Online and mobile phone balance inquiry
Obvious na advice: If possible, don’t withdraw from a non-BPI bank para hindi matriple yong withdrawal fees mo.
Warning!: Huwag hayaang mag-negative balance ang KAYA savings account mo! Kasi your account will automatically be closed.
Bakit magne-negative? Halimbawa, ang balance mo na lang is 515 pesos. Nagwidro ka ng 500 pesos sa non-BPI ATM. Na-process ang withdrawal mo. Later on naging negative 5 pesos na ang balance mo, kasi napunta sa non-BPI atm yong 15 pesos as ATM withdrawal fee. Saan na kukunin yong 5 pesos na KAYA atm withdrawal fee? Negative na.
What if I only have 1 valid ID?
Be on the lookout for BPI KAYA savings account opening promos in schools, supermarkets, malls, fairs or other events. Usually, during promos, BPI officers accept only 1 ID. Try also applying at BPI Express Centers in malls or near malls.
BSP has ordered banks to offer Basic savings accounts
Maybe later on BPI will even lower the minimum initial deposit amount for KAYA to less than 100 pesos to comply with the new BSP order for banks to offer BASIC savings accounts to serve the unbanked.
The BASIC savings account described by the BSP will have these:
Initial deposit: less than 100 pesos
Maintaining balance requirement: None, zero, wala
Dormancy penalty: None, zero, wala
Pero merong maximum balance: 50,000 pesos
(para hindi i-take advantage ng mga can-afford naman to maintain regular savings accounts)
Incentive for banks to offer this type of account: preferential 0% reserve requirement for BASIC accounts to reduce maintenance costs
The BPI KAYA no-maintaining-balance savings account is now a regular savings account. If you have this account and you like to continue using it, know that effective January 15, 2021, you will need to maintain a monthly average daily balance of at least 3,000 pesos (if you got it from BPI).
If you got it from BPI Family Savings Bank, ask if the minimum maintaining balance requirement is 1,000 pesos.
Read also:
Savings Accounts in the Philippines with the Lowest Maintaining Balances
Best Savings Accounts for Students
Savings Accounts for OFW Remittances
Many Comments and Replies Have Been Moved to:
BPI Easy Saver comments
(from Feb February 20, 2013 to October 8, 2013)
Easy Saver comments
(from December 3, 2014 to May 22, 2016)
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