Checking Account

A low-interest bearing deposit product that allows individuals or institutions to access a wide-range of financial services, with ease of payment as a primary objective, using bank checks.


a. Customers who are willing to provide all necessary information and documents.
b. As a prerequisite, any individuals who wish to avail Checking Account services from RMB shall have to open a Regular Savings Account and must be active and moving for at least a period of six (6) months before the actual opening of the account.
c. Age - Any individual of legal age may open a Checking Account.
d. Nationality – All customers from different countries are allowed to open an account as long as the proper profiling and KYC procedures are met, especially on customers from high-risk countries, embassy officials and diplomats.
e. Jurisdiction – Domestic and foreign corporations are allowed to open an account, subject to proper profiling and KYC procedures.
f. Residency – Residents and non-residents are allowed to open an account.
g. Capacity – Account opening may be allowed for persons who have physical defects but are able to understand the nature and consequences of their acts and whether they can manifest their consent to a given transaction.
h. Financial and Social Status – The bank shall accept all customer regardless of their financial and social status.
Acceptable Valid ID’s
a) PhilID or ePhilID from the PhilSys
b) Other identification documents with picture issued by the Government of the Republic of the Philippines
1. Passport
10. OFW e-Card
2. Driver’s License
11. Alien Certificate of Registration (ACR)
12. Seaman’s Book
4. NBI Clearance
5. Police Clearance
14. PWD ID issued by the National Council on Disability Affairs
6. Voter’s ID
15. Integrated Bar of the Philippines (IBP) ID
7. Postal ID
16. PhilHealth ID
8. Senior Citizen Card17. Unified Muti-Purpose ID (UMID)
c) Other identification documents that can be verified using reliable, independent source documents, data or information.

IDs should be:

  • ✓ Clear
  • ✓ Un-expired (for IDs with expiration date)
  • ✓ Bears photograph and with signature of the individual-owner
  • ✓ Signed by an official authority and whose authenticity may be verified with said agencies/instrumentalities
  • ✓ Free from alterations
  • ✓ Preferably bears the security features or seal (if applicable) provided by the issuing agencies/instrumentalities that will prevent tampering of the ID.

Initial Deposit and Maintaining Balances

Required Initial Deposit - Personal Account
P 5,000.00
Required Initial Deposit - Corporate Account
P 10,000.00
Minimum Average Daily Balance to Earn Interest - Personal
P 10,000.00
Minimum Average Daily Balance to Earn Interest - Corporate
P 20,000.00

Fees and Charges

Deposit falling below minimum balance, per month
P 300.00
Closure of account within 180 days from opening
P 300.00
Dormancy fees of checking account
P 30.00
Checkbook, Personal, 50 checks/booklet
P 350.00
Checkbook, Corporate/Commercial
P 750.00
Stop Payment Order (SPO), upon application
P 500.00
Printed Statement of Account, per page
P 10.00
Charges on Closed Account due to Mishandling (based on the remaining balance of the Account)
Maximum of P1,000.00

Charges on Returned Checks

ReasonPCHC Charges on Returned Checks
Drawn Against Insufficient Fund (DAIF)P 2,000 + 200 every 40,000 (amount of check) or a fraction thereof
Drawn Against Uncleared Deposits (DAUD)P 2,000 + 200 every 40,000 (amount of check) or a fraction thereof
SPO, unfunded upon clearingP 2,000 + 200 every 40,000 (amount of check) or a fraction thereof
SPO, funded upon clearingP 2,000.00