Allied bank is formally known as Allied bank Corporation, it is one of two universal banks in the Philippines not traded in Philippine Stock Exchange. It was incorporated on April 1, 1977 and on May 20, 1977 the Bangko Sentral ng Pilipinas granted it as commercial/universal bank.
Background of Allied Bank
On June 2, 1977 with 26 branches, Allied Bank started its operation with Mr. Lucio Tan as the Founding Chairman. But now, it operates 283 domestic branches and offices including its subsidiaries Allied Savings Bank with 20 branches, Finance Corporation, and Allied Leasing.
Allied Bank offers products and services that fit to the needs of their clients and one of this is the savings account. In passbook-Peso Savings Account they only gave 0.50% interest per year and with P10,000 maintaining balance.
If you were about to invest or open an account in this bank the below information will give you the requirements and procedures that you need to open an account in Allied Bank. To bring the complete requirements and to know the procedures before visiting the bank will help you to avoid hassles and to apply easy for faster approval.
Requirements and Procedures in Applying for Savings Account at Allied Bank
1. Prepare at least 2 valid IDs to be presented upon opening of accounts, such as:
- Social Security System (SSS) ID
- BIR ID
- Company ID
- If Corporation, corporate papers, such as Articles of Incorporation, By-Laws, Board Resolution or Secretary’s Certificate
- You can see the complete requirements here.
2. Visit the nearest Allied bank branch and inform the Branch Head of your interest to open an Allied Bank savings account. You will be given some application forms for you to fill up and supply all the necessary information.
3. Make sure you bring your two valid IDs, a proof of billing and the initial deposit of your account. If you want more information on the requirements for opening a bank account, you can visit this post for more information:
4. You must wait at the bank until the completion of the processing of your application so you will know whether there are problems or none. Your passbook or ATM card will be normally available after 3-5 days. You can confirm this to the bank employee in-charge of processing your account application before you leave the bank.
In general, applying for a savings account at Allied Bank is not a complicated process, you only need to have the complete requirements and enough money to start your own savings account.