You can now open a China Bank Savings account online and no need to go to the branch. China Bank launches a mobile app, China Bank START, which is dedicated only for opening an individual savings account online. It is now easy and convenient to open an account, wherever and whenever you are, even for OFWs abroad, as long as you have an active mobile number and stable internet connection. And to open an account, all you need is one (1) valid ID and a selfie for verification. Another good thing with this application, no initial deposit required.
Requirements to open an account
Here is the complete list of requirements in opening China Bank account online:
- You must be at least 18 years old of age
- You must be a Filipino citizen
- You must have permanent Philippine address
- You must have verifiable mobile number and email address
- You must have any one (1) of the following valid ID prepared:
- Philippine Passport
- Driver’s License
- UMID
- SSS ID
- PRC ID
- Voter’s ID
- PhilSys ID
- Postal ID
Types of Savings Account you can open
There are two Savings Account you can choose to open via the China Bank START app: China Bank ATM Peso Savings Account and Overseas Kababayan Savings Account.
ATM Peso Savings Account
If you want to open China Bank ATM Peso Savings Account, here are the details you need to know:
| Initial Deposit Requirement | Waived |
| Minimum Monthly Average Daily Balance (ADB) Requirement | PhP 2,000.00 |
| Minimum Balance to Earn Interest | PhP 10,000.00 |
| Minimum Balance to Earn Interest | 0.125% p.a. subjected to 20% withholding tax |
Overseas Kababayan Savings Account
The Overseas Kababayan Savings (OKS) account is a peso-denominated , no initial deposit, and no maintaining balance account for Overseas Filipinos and their beneficiaries that makes saving and sending/receiving remittances more secure and convenient.
| Initial Deposit Requirement | Waived |
| Minimum Monthly Average Daily Balance (ADB) Requirement | Waived |
| Minimum Balance to Earn Interest | PhP 1,000.00 |
| Minimum Balance to Earn Interest | 0.125% p.a. subjected to 20% withholding tax |
China Bank START app
As per China Bank, this China Bank START app is designed with the latest identity verification and security technologies. So, using this app is safe and secured. This app is available for free download in Google Play Store and App Store.
Start Online Account Application
Once you have successfully downloaded and installed China Bank START app on your phone. You can now start your online account application. Just follow the on-screen instructions:
- To start your application, tap Get Started button.
- Select Deposit Accounts to open a Savings Account. Aside from a savings account, you can also apply for a credit card using this app.
- Read the requirement needed to open an account and press Open a New Account button.
- Choose the account you need to open: ATM Savings or Overseas Kababayan Savings (OKS). Read the details of each account requirement and once you selected one of these accounts, tap APPLY NOW button.
- Answers the eligibility questions and press Continue button.
- Read the Terms of Service and click Agree and Continue button.
- Fill-out the form with your personal details and contact information as stated in each field. Then, tap Continue button.
- Enter the OTP sent to verify your contact number and press Confirm button.
- Prepare and be ready with your valid ID and taking a selfie, tap START ID VERIFICATION.
- For the selfie, center your face in the frame and follow the on-screen instructions. Tap CONTINUE button once complete.
- Enter your permanent address and press Continue.
- Input your present address as well and click Continue button.
- Select the Source of Income from the drop-down list and tap Continue button.
- Choose the Preferred Mailing Address, Servicing Branch and Estimated Monthly Transaction Amount. You need to declare also if you are related to anyone working in China Bank. Press Continue button.
- Sign using the white space and tap Submit button.
- Review the details to confirm if all information you have entered is correct. Tick the box to agree to the China Bank Terms and Conditions and Data Privacy Statement. Then, tap Submit Application button to send your online account application.
- Create your username that you will use to access your account online. The User ID should have 6 to 15 alphanumeric characters. Tap Continue button.
- You need to set a password for login credentials. The password should have 8 to 18 characters with at least:
- one capital letter
- one special character
- one number
- no repeating characters or more than two consecutive numbers
- You have successfully opened a Deposit Account.
Activation and Enrollment in China Bank Mobile App
You will receive an email from China Bank that contains one-time activation code that you need to use to activate your enrollment in China Bank Mobile app. With this app, you can monitor the transaction with your account, deposit, fund transfer and withdrawal. You can also pay bills and buy load using this China Bank Mobile app.
This code is valid for 30 days after your successful online account opening. On your first login to the app, you need to use the one-time activation code that was sent to your email.
To activate your enrollment, download the China Bank Mobile App. It is also available to download for free in Google Play Store and App Store.
Once you successfully installed the app on your phone, you can now start activating your enrollment.
- Enter your User ID and Password. These login credentials are the one you created during the online account application.
- The system will detect the phone you are using. It will register your phone that access your account. It is a security feature that detects the phone use for logging into your account. Tap the CONTINUE button.
- Enter the One-Time Activation Code (OAC) sent to your registered email address. And press NEXT button.
- A One-Time Password (OTP) will be sent to your registered mobile number. Encode the code indicated in the SMS. Click NEXT button.
- You successfully login to your account. You can now explore the app. Deposit any amount and start SAVING.
To learn more about this China Bank START app and Frequently Asked Questions (FAQs) regarding the online account application, you can visit China Bank website. Here is the link.
Key Points and Takeaways
- The China Bank START app is easy and safe to use as it is designed with data privacy and security features
- The online account application is a straightforward application. Just remember:
- Make sure you have stable internet connection during your application
- In your selfie, you should have enough light for a good capture
- Your ID should be valid and in good condition
- Complete all the details required in the application
- All information you have entered must be true and correct
- With this online application, you don’t need to visit any China Bank branch. Less hassle and very convenient, you can complete the application, anytime, anywhere
- The China Bank Mobile app is like your own China Bank branch because you can do what a physical branch can do. Fund transfer to other local banks and e-wallets, bill payment, reload mobile phone, and more.
- There is no initial deposit required if you open online. But, for ATM Savings, make sure to maintain PhP 2,000 as average daily balance (ADB)while for Overseas Kababayan Savings (OKS) account, ADB is waived.
Deposit any amount or send your remittances through your new Savings account. You can keep your emergency fund in this account as well as the budget for utility bills and daily expenses.
Happy SAVINGS!