How to Open a Security Bank Savings Account

How to Open a Security Bank Savings Account
(c) Security Bank Official Website

Security Bank (Philippines, PSE: SECB) is one of the country’s leading and most trusted universal banks serving retail, commercial, corporate, and institutional clients. Through the decades of dedicated banking operations since 1951, it has proven its financial management expertise, stability, consistent profitability, and continuous growth.

With a renewed brand promise ‘You deserve better,’ Security Bank commits itself to providing client-centered solutions to the banking needs of Filipinos along with its wide range of financial services – financing and leasing, foreign exchange and stock brokerage, investment banking, and asset management.

In the recent years of stiff competition, Security Bank has established a nationwide presence in the Philippine archipelago through aggressive expansion efforts – growing number of servicing branches and strategic ATM locations (source: Security Bank official website).

Security Bank Deposit Products (Savings) 

All-Access Checking Account (Initial Deposit: PHP 5,000.00) is a savings and checking account in a package that can be a perfect choice for depositors who manage a highly active personal cash flow. It comes with a passbook, a checkbook, and a debit (ATM) MasterCard and allows an easy access to funds for daily personal and business transactions.

Easy Savings Account (Initial Deposit: PHP 5,000.00) is a basic and the simplest savings account offered by Security Bank that can be ideal for beginners. It comes with a debit MasterCard that can be used for shopping, dining, and paying bills online and offline.

eSecure Online Savings Account (Initial Deposit: PHP 5,000.00) is a high-yield savings account for existing Security Bank Peso Casa clients. It can be a good partner in pursuing savings goals.

Build Up Savings Account (Initial Deposit: PHP 5,000.00 [regular] and PHP 50,000.00 [premium]) promises an interest rate almost four times higher than any other traditional savings accounts. It can be a perfect account for serious and highly-disciplined savers who have long-term financial goals.

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Money Builder Savings Account (Initial Deposit: PHP 10,000.00) is another high-interest savings account offered by Security Bank that can be worth recommending to consistent individual savers, freelancers, sole business proprietors, and even corporations.

USD Savings Account (Initial Deposit: USD 500) is a foreign-currency savings account that promises a safe and secure dollar remittance depository. Security Bank offers one of the highest interest rates for this special type of account.

*All Security Bank deposit products earn interests at varying rates. Visit their official website or the nearest servicing branch to make inquiries about other deposit products, required maintaining balance, and existing interest rates.

Security Bank Account Opening Requirements

Here are the minimum documentary requirements upon opening a savings account with Security Bank (requirements may vary depending on deposit accounts):

  • Accomplished Account Opening Online Form (submitted online)
  • SMS-Received Reference Number
  • 1 Primary or 2 Secondary ID Cards
  • Required initial deposit

Here is the list of valid photo-bearing identification documents issued and signed by an official authority and recognized by Security Bank:

Primary Identification Cards

  • Passport
  • Driver’s License
  • Professional Regulations Commission (PRC) ID
  • Digitized Voter’s ID
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) Card
  • Senior Citizen Card
  • Unified Multi-purpose ID
  • Alien Certification of Registration (ACR) I-Card
  • Integrated Bar of the Philippines ID
  • School ID
  • NCDA ID
  • Postal IC (PVC Plastic Card)

Secondary Identification Cards

  • Company ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Barangay Certification/Clearance
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Government Office and GOCC ID, e.g. Armed Forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)
  • Department of Social Welfare and Development (DSWD) Certification
  • PhilHealth Insurance Card ng Bayan (PHICB)
  • City Health Card/Health Certificate Card
  • Tax Identification Number (TIN) Card
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Security Bank Account Opening Procedure (3 Easy Steps)

Opening savings and other deposit accounts, along with requirements, can be almost the same across all banks in the Philippines. As what I have experienced with major commercial banks, the usual process comes with a few forms, ID cards and other requirements, and verifiable personal details. With Security Bank, opening an account has been made faster and hassle-free in three easy steps:

1. Complete the Account Opening Online Form. Visit the official website of Security Bank and click Open an Account (links can be found on the mid-page promotional photo, on the page footer, and on the Accounts menu). Accomplish the series of Online Account Opening forms and click Submit.

2. Receive Your Reference Number via SMS. After accomplishing the Account Opening Online Form, you will receive an SMS (mobile message) confirmation together with your reference number.

3. Visit Your Selected Security Bank Servicing Branch and Finalize the Process. Hand over your prepared account opening requirements to the bank clerk (Check Account Opening Requirements listed above). Make your initial deposit and claim your debit MasterCard and/or passbook whichever is applicable and available.

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Disclaimer: The author is not directly affiliated with Security Bank Corporation (Philippines), however maintains a payroll account. Please take this article as a simple tutorial on how to open a deposit account with Security Bank and not a help page for your other concerns and issues with the bank.