Perhaps you are looking for some information on how to closed your Banco de Oro (BDO) bank account and you could not find any details about it. Yes, there are many articles and tips you can find in the Internet about opening a savings account but for closing an account, it is not common and very difficult to find.
As you may know, BDO is the largest bank in the Philippines in terms of market capitalization and the number of branches it has nationwide. As a major bank, it has own system of banking which can be almost similar with other banks in the country.
Normally, when you open or apply for a new account, the normal procedure is you go to a branch with your requirements and ID. There in the bank, you fill out application forms and other documents needed to be able to open a new account.
So that’s a brief summary on how to open an account.
How About on Closing a BDO Bank Account
Many people are asking me through this blog if they can still reactivate or reopen their closed bank account. Unfortunately, most banks don’t re-open an already closed account simply because it is more work for them.
It is better to open a new one than re-opening an already closed account. Thus, you should remember this if you don’t want to happen it to you. Ok so much for that.
Anyway, there are two cases you may follow when closing a BDO savings or checking account. The first one is for those customers who has ATM card without passbook and the second one is for those customers with passbook only.
1. If you have a BDO ATM card, closing an account is very easy. The only thing you need to do is withdraw all your money using your ATM card in any machine out there and leave it as it is. You don’t need to go to the bank to apply for closing an account.
It is very simple and convenient unlike opening a new one. Don’t worry you can still open a new account in the future if you need to.
In my experience, I closed two bank accounts from different banks, one is from BPI and the other one is from Chinabank. I just withdrew all of my money on that account and do nothing at all after that.
2. However, if you have no ATM card and you have only passbook, this is the case you need to visit your branch and withdraw all your money with the help of a bank teller.
You can do this by filling out a withdrawal form and giving it to the teller. It is simple and not difficult to follow.
Most of the time if you have large amount of money in your savings account, the teller will ask you why you are withdrawing your money. Maybe just tell them that you need the money and nothing else. They are doing these so that clients will keep their money with them for longer period.
Closing a BDO bank account is much easier than opening a new account. You don’t need to send any application forms to the bank or do any extra effort. The only thing you need to do is to withdraw all your money through ATM or bank teller and leave it as it is.
Do not worry about your bank records because you can still apply for a new bank account in the future if you need to. However, you will go again to the common procedure for opening an account.