People nowadays are getting cautious and conscious about their finances.
It is indeed a good thing, right?
Apparently, who doesn’t want to save and be financially stable as young as possible? Who else doesn’t want to have some extra finances when something emergency or unforeseen circumstances happen, or for some future getaways, or just for the sake of savings?
I guess most of us has the thought of saving a penny on a separate home-wallet or primarily, open a bank account.
Talking back, saving money these days are not just being a habit of the older people. Young people are now also thriving themselves to save up for their future.
Regardless of age, it is way advisable to save earlier to live better.
SAVINGS BANK ACCOUNT
Savings is commonly used as a term for the money being saved a person most particularly in a bank or in an investment plan. This “money” is mostly used for future endeavors.
When we hear the word “saving”, unconsciously we are relating it to bank or bank accounts.
Some prefer to save up on their own --- with their personalized piggy banks and the likes, yet for some who can’t resist opening their piggy banks or just wanted to have a more secured savings, opening a bank account is definitely the answer to that.
Saving money is both an easy and a difficult journey. There is always this temptation to spend the money you have saved for the mean time and just return it the next time you deposit. This goes beyond the matter of responsibility and discipline.
Yes, it is still our money yet we can’t really save if we always practice this kind of mindset once we have decided to save up.
As mentioned above, the money that is saved is mostly used for future endeavors -- either expected or unexpected. More to this, savings guarantee financial freedom.
It is a good thing to aim for financial freedom and stability. Yet in reality, this is indeed a long process that requires discipline and good financial mindset.
You can save wherever and whatever process you feel that your money is safe with, and anytime you are ready to save. Still, the earlier the better.
Young People To Open a Bank Account
One great fact that we have now with the young people is that they are now concerned with their finances.
Young people like college students are now being conscious and cautious about their expenses personally and even with their other responsibilities such as with school works and other expenditures.
They are now aware how saving up at an early age is a good step to secure a financial freedom in the future.
Young people these days are wise enough how to set their priorities in all aspects of their life ---- as a student and as a person who dreams to live a better life in the future.
Being a student, most especially as a college student, is indeed a season of spending money. These includes the school requirements plus the daily expenses such as the transporation fee, foods, clothes, cellular and internet fees, lodging, and definitely the tuition and miscellaneous fees.
These are just some of the common things that a student is spending as a student itself. What more if their outside expenditures comes in? Definitely a never-ending sense of financial obligations.
Yet to at least control the finances, being responsible with all the money that is coming in at-hand should be practiced as much as possible.
This enters the importance of saving money. More like saving money on your own bank account.
As a student, you can open a student bank account in the Philippines.
A question might pop up in your mind.
How to open a bank account for a student in the Philippines.
OPENING A BANK ACCOUNT IN THE PHILIPPINES
There are numerous banks in the Philippines. It can be seen as that the Philippines prioritizes the aspect of money and finances in the bank industry. More to this, Filipinos are adapting the importance of banks or opening a bank account for their own benefit.
Some of the common banks we have in the Philippines are:
- Land Bank of the Philippines
- Metropolitan Bank & TCO
- BDO Unibank Inc
- Bank of the Phil Islands
- Phil National Bank
- China Banking Corp
- Security Bank Corp
- Union Bank of the Phils
- East West Banking Corp
…and more.
These are some of the banks that you can choose from if you wanted to open a bank account.
Good news for a college student who wanted to have their own savings and have their own bank account!
You can open a student’s bank account here in the Philippines!
Good news, right?
Maybe saving and securing your money now is more possible as you are now allowed to open a bank account.
You may wonder how can a student open a bank account?
Well initially in the Philippines, you can open a regular bank account if you are 18 years old and above. If below 18 years old, your parents or guardian can open a bank account for you and decide if its either a custodial or joint account.
Additionally and commonly, you need to have the requirements needed in the bank where you wanted to open a bank account.
The following are some of the common requirements upon opening a bank account:
- Two Valid ID’s (acceptable ID’s are listed below)
- Philippine Identification Card (PhilID)
- Passport (including those issued by foreign governments)
- Driver’s License
- Professional Regulation Commission ID
- Postal Identity Card
- Voter’s ID
- GSIS e-Card
- SSS Card or UMID
- Senior Citizen Card
- OFW ID
- Seaman’s Book
- Alien Certificate of Registration or Immigrant Certificate of Registration
- Government Office and Government Owned and Controlled Corporations ID
- PWD ID issued by the NCDA
- Integrated Bar of the Philippines ID
- Valid photo-bearing school ID signed by either Principal, Registrar or Head of the School
- For Filipino students of public/government schools that does not issue school IDs:
- Individual school certifications containing picture and signature of the child certified by the principal or head of the school
- Blanket school certification signed by the principal or head of the school (applicable for local sales activities conducted by the Bank at school premises)
- Company ID (if signature bearing) issued by Covered Person registered with or supervised or regulated by BSP, SEC, or Insurance Commission
- Two (2) copies of most recent 1x1 picture
- Proof of Billing (Utility bills, etc)
- Minimum initial deposit depending on the bank’s discretion
These are some of the requirements needed on how a student like you can open a bank account.
Knowing how to open a bank account for students in the Philippines is a great attitude at an early age. This can signify that you are starting to see yourself being financially stable in the long-term.
Everyone is allowed to save and there are various ways and forms on how to save.
Thus, save earlier to live life better.
If you want to make your savings worthy, you can contact ().
For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.
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