12 thoughts on “How to Close a Bank Account in the Philippines

  1. if i have a balance of not more than 100 pesos, do i need to pay for dormancy fee? as we all now we cant withdraw it in atm

    • Hi, if the balance is below P100, you have to pay dormancy fee, and since it is not enough to pay for dormancy fee, the bank will close your account.

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  3. What if it’s a Passbook account? I have a Passbook account in Chinabank and it have P1,000 inside. Am I just gonna withdraw the whole P1,000 and leave it empty? I kinda feel embarrassed just going there and leaving it empty. lol :p

  4. Does the bank need a separate authorization letter from the authorized signatories of a corporate account to close an account? I understand that the bank needs a special power of attorney (SPA) or secretary’s certificate to designate the authorized representatives who can open an account, but does the bank need a separate authorization to close said account?

  5. Hi, my money left in my savings account is P1500.00,last year, however, i checked my savings it became P900.00, because i was not able to deposits after my money is below P5000.00…so i want to get my remaining money because it sayang naman…but the the atm teller will not release it…so what shall i do? I want to get my P900.00…kasi malaki na rin ang nakuha ng METRO Bank sa akin just because of the dormancy fee…..please give me the response and solution for this….thanks

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  7. If it is a checking account..can i just issue a pay to cash check amounting to the full balance and deposit it to my other account? Thanks.

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