Failing to Maintain Minimum Balance in a Bank Account | BDO

Saving money is a good thing, that’s why many Filipinos are eager to save especially if it is hard-earned money. So we entrust and deposit our money to a bank to make sure that it is safe until we figure out where to use that money. However, there are circumstances that happened when you check your bank account, and your money in the bank was all gone. One of the main reasons why that happened is because of failing to maintain a minimum balance in a bank account.

That is why it is very important that you should know more about maintaining a minimum balance in a bank account to avoid any problem in the future. So if you wanted to know more information about maintaining balance specifically in BDO Bank Account, this might help you.

How much is the Maintaining Balance in BDO Bank Account?

SavingsMinimum Initial DepositMinimum Monthly
Average Daily Balance (MADB) Requirement		Minimum Balance to Earn Interest
Junior SaversPhp 100Php 100Php 2,000
ATM SavingsPhp 2,000Php 2,000Php 5,000
Passbook SavingsPhp 5,000Php 10,000Php 10,000
Optimum SavingsPhp 30,000 (Personal)
Php 50,000
(Business)		Php 30,000
(Personal)
Php 50,000
(Business)		Php 30,000 (Personal)
Php 50,000
(Business)

What Will Happen if You Fail to Maintain Minimum Balance in BDO Bank Account?

If a BDO bank account owner fails to maintain a minimum maintaining balance, the bank will impose and collect service charges or maintenance fees on the accounts whether the account is active or dormant. As long as they have fallen below the minimum monthly Average Daily Balance (ADB) for dormant accounts or have fallen below for 2 consecutive months for active accounts.

The account will be considered dormant if it has no client-initiated activity for 2 years.

In addition, if the bank account has zero balance, the bank will automatically close it without notice.

Fees and Charges

Falling Below Minimum BalancePhp 300 fee
Account DormancyPhp 30 fee
Account ClosurePhp 300 fee
Withholding Tax for Interest Earned20%

Here are some tips on how to maintain a minimum balance and avoid account closure:

  • Make sure to always check your bank accounts
  • Do not open multiple bank accounts. If you wanted so, make sure that you can handle it to avoid any problem
  • Make a lump sum deposit to maintain your monthly average balance
  • Do not withdraw all the money in your account

Opening up a bank account might be easy these days. Some bank only requires few documents and it can be processed within just a few hours. However, the responsibility that lies with it is not that easy. So it is very important for you to be aware and knowledgeable about “Failing to Maintain Minimum Balance in a Bank Account.”

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