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Home » Security Bank – Types Of Savings Accounts, Requirements, How To Open

Security Bank – Types Of Savings Accounts, Requirements, How To Open

Retail, commercial, corporate, and institutional clients are served by Security Bank, one of the country’s leading and most trusted universal banks.

Security Bank demonstrated its financial management expertise, stability, steady profitability, and continuing expansion committed to banking activities since 1951.

Security Bank promises to offering client-centered solutions to Filipino banking needs, as well as its extensive range of financial services – financing and leasing, foreign exchange and stock trading, investment banking, and asset management – with a refreshed brand promise of ‘You Deserve Better.’

Security Bank has built a nationwide presence in the Philippines archipelago through aggressive growth efforts – expanding number of servicing branches and strategic ATM sites – in recent years of intense competition.

Security Bank’s Savings And Deposit Products

All-Access Checking Account

Initial Deposit: PHP 5,000.00

This combines a savings and checking account into one convenient package for depositors with a high-volume personal cash flow. It comes with a passbook, a checkbook, and a MasterCard debit (ATM) card, allowing you quick access to monies for personal and business operations.

Easy Savings Account

Initial Deposit: PHP 5,000.00

This a basic and straightforward savings account that is suited for novices. It comes with a debit MasterCard that may be used for online and offline shopping, eating, and bill payment.

eSecure Online Savings Account

Initial deposit: PHP 5,000.00

This a high-yield savings account available to current Security Bank Peso Casa customers. It might be a helpful ally in achieving savings goals.

Build Up Savings Account

Initial deposit: PHP 5,000.00 (regular), PHP 50,000.00 (premium)

This offers a nearly four-fold higher interest rate than other typical savings accounts. It’s a great account for serious, well-disciplined savers with long-term financial objectives.

Security Bank’s Money Builder Savings Account

Initial Deposit: PHP 10,000.00

This another high-interest savings account worth recommending to regular savers, freelancers, solo business operators, and even corporations.

US Dollar Savings Account

Initial deposit: USD 500

This a foreign-currency savings account that provides a safe and secure storage for dollar remittances. For this sort of account, Security Bank has one of the highest interest rates.

Third Currency Accounts

These are non-interest-bearing savings accounts that keep your foreign currency safe. The following legal tenders can be used to open them:

  • Japanese Yen (JPY)
  • British Pound (GBP)
  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • Singapore Dollar (SGD)
  • Hong Kong Dollar (HKD)
  • Chinese Yuan (CNY/RMB)

Interest is paid on all Security Bank deposit products at different rates. Inquire about alternative deposit products, needed keeping balances, and current interest rates on their official website or at the local service branch.

Requirements For Opening A Security Bank Account

The following are the minimal documentary requirements for opening a Security Bank savings account (requirements may vary depending on deposit accounts):

Account Opening Online Form completed (submitted online)

  • Reference Number Received through SMS
  • 2 primary ID cards or 1 primary and 2 secondary ID cards
  • Initial deposit

The following is a list of legitimate photo-bearing identification documents recognized by Security Bank that have been issued and signed by an official authority:

Identification Cards (primary)

  • Passport
  • Driver’s Permit
  • PRC ID
  • Voter ID
  • GSIS
  • SSS Card
  • Senior Citizen
  • UMID
  • Alien Certification of Registration
  • Integrated Bar of the Philippines
  • School ID
  • Postal ID

Identification Documents (secondary)

  • Company ID
  • NBI clearance
  • Police clearance
  • Certification/Clearance of Barangay
  • OWWA
  • OFW
  • Seaman’s book
  • AFP ID
  • PhilHealth Insurance Card
  • Health Certificate Card/City Health Card
  • TIN
  • IDs from other government offices

Procedure for Opening a Security Bank Account

Opening savings and other deposit accounts, as well as the requirements for doing so, can be nearly same across all Philippine banks.

The typical process, in my experience with big commercial banks, includes a few paperwork, ID cards and other requirements, as well as verifiable personal information.

Opening an account with Security Bank is now easier and faster in three simple steps:

Fill out the online account opening form

Go to Security Bank’s official website and click on “Open an Account” (links can be found on the mid-page promotional photo, on the page footer, and on the Accounts menu). Fill out the Online Account Opening forms and then click Submit.

Reference Number sent to you via SMS

You will receive an SMS (mobile message) confirmation with your reference number after completing the Account Opening Online Form.

Completing the process at chosen Security Bank Branch

Give the bank employee your prepared account opening requirements (Check Account Opening Requirements listed above). Make your first deposit and get your debit MasterCard or passbook, whichever is appropriate and available.

Who Is Eligible To Open An Account?

Anyone can open an Easy account as long as they meet the initial and ongoing balance requirements! It’s even possible to utilize it as a payroll account.

What Is An ATM Debit Card?

Everyday MasterCard is an international Debit and ATM MasterCard that you may use both locally and internationally for ATM withdrawals, point-of-sale transactions, and online shopping.

What Are Advantages Of A Regular ATM Debit card?

The Everyday ATM Debit MasterCard gives you access to the following features:

  • Partner merchant discounts and benefits
  • No annual charge.
  • When your card expires, you can renew it for free.
  • Any ATM at Security Bank is free to use.

How To Get Discounts From Retailers And Partners?

To transact with the partner merchant, use your Everyday ATM Debit MasterCard. The following terms and conditions apply.

How Long Does It Take To Get The ATM Debit Mastercard?

When you open an account, you’ll get an ATM Everyday Debit MasterCard right away. Activation, on the other hand, takes 24 hours. You can only use your card the day after you open your account. Before you can use another bank’s ATM, you must first activate the Everyday Debit MasterCard at a Security Bank ATM machine.

Can I Use Security Debit Mastercard At Other Banks ATMs?

Yes, you can use your card at any ATM that accepts CashLink, BancNet, or MegaLink. You can use any ATM that accepts MasterCard outside of the Philippines. Please keep in mind that there are certain withdrawal fees and charges.

What Should I Do If ATM Card Is Stolen Or Lost?

Call the Customer Service Hotline at (632) 887-91-88 right away to report a lost or stolen privilege card. You can also get your card replaced at any branch. A P150 card replacement fee will be applied.

Does The ATM Debit Mastercard Have An Expiration Date?

Your card will be valid for three years after you receive it. Present your card to any Security Bank branch when it expires for a free renewal.

Can I Get A Passbook Or Checkbook in Easy Account?

No. The Easy account only comes with an Everyday Debit MasterCard because it is a savings account. You can open an All Access Account instead if you desire a Passbook or checkbook.

When Can I Activate My Digibanker And SBOL Accounts?

This will adhere to the current turnaround time:

  • Digibanker – Enrollment takes 2 to 3 days.
  • Security Bank Online – Enrollment takes only 24 hours.

What Are Security Bank Charges and Fees?

  • Dormancy Fees (beginning in the 61st month): PHP 350 per month
  • Charge for Failure to Meet Minimum Bal – P300 per month after two months
  • Fee for early closure (within 30 days): P300
  • Replacement Fee for Debit Mastercard – PHP 300
  • Printing a Statement of Account (SOA) costs PHP 100 per page.
  • Withdrawal Fee for Over-the-Counter (OTC) – PHP 100
  • Branch PIN Reset – PHP 100 per page

Please contact the Security Bank helpline at 887-9188 if you have any further questions.

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