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Demand Deposit

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Requirements for Account Opening

Personal

PERSONAL - INDIVIDUAL
 

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  • One (1) valid photo-bearing ID

  • 2 pcs. latest 2x2 ID picture

  • Alien Certificate of Registration if foreign national

Single Proprietorship

PERSONAL – JOINT

  • One (1) valid photo-bearing ID of each depositor

  • 2 pcs. latest 2x2 ID picture of each depositor

  • Joint Account Agreement

  • Alien Certificate of Registration if foreign national

SINGLE PROPRIETORSHIP

  • One (1) valid photo-bearing ID of depositor (or authorized representative)

  • 2 pcs. latest 2x2 ID picture of depositor (or authorized representative)

  • Business/Mayor’s Permit

  • DTI/BIR Certificate of Registration

  • Current and notarized SPA, if another person is authorized by the proprietor

Partnership

PARTNERSHIP

  • At least one (1) valid photo-bearing ID per signatory

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  •  Certified true copy of Articles of Co-Partnership

  •  Certificate of SEC registration

  • Partnership Agreement

  • Duly notarized Partnership Resolution/ Authorization designating the bank as depository bank and the authorized signatories

  • General Information Sheet or List of Partners and Key Officers

  • The Bank shall identify partnership entities as well as the partners and authorized signatories of these entities. It shall open and maintain accounts only in the true and full name of the entity and shall have primary responsibility to ensure that the entity has not been or is not in the process of being dissolved, struck-off, wound-up, terminated or otherwise placed under receivership or liquidation.

Clubs and Associations

CLUBS AND ASSOCIATIONS

  • At least one (1) valid photo-bearing ID per signatory

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  • Articles of Incorporation and By-Laws of Club or Association

  • Board resolution or notarize minutes of meeting of general membership and/or governing body certified by its Secretary indicating the authority to open an account or transact business with the Bank and the authorized signatory/ies representing the entity.

  • Certificate of Registration with the SEC and/or with the concerned affiliation or other government agency

  • Certificate of Recognition duly signed by the School Head (PTA).

  • Latest General Information Sheet or List of Board of Trustees/Directors and Key Officers.

Unincorporated org,Asso

UNINCORPORATED ORGANIZATIONS, ASSOCIATIONS
( Group or body of persons that are not duly registered with the SEC shall comply with the rules applicable to individual customers relative to customer identification. )

  • At least one valid photo-bearing ID of authorized representative/s

  • Latest 2x2 ID picture, 2pcs. each for every authorized representative

  • Documents assigning the authorized representative/s, delineating authority to the said representative/s to open an account with the bank under the name of the authorized representative/s and indicating the purpose for the opening of the account.

  • Complete names, contact information, and addresses of all members of the group/association/organization.

  • Documents and information necessary to establish the existence of the group/association/organization.

Cooperative

COOPERATIVES

  • At least one (1) Valid photo-bearing ID per signatory

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  • Articles of Cooperation and By-Laws

  • Resolution indicating persons authorized to operate the account and Bank where the account is to be opened

  • Cooperative Development Authority (CDA) Registration

CORPORATIONS - DOMESTIC

  • At least one (1) valid photo-bearing ID of authorized signatory/ies

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  • Certificate of SEC Registration

  • Certified true copy of Articles of Incorporation and Corporate By-Laws with SEC Certificate of Filing

  • Board resolution duly certified by the Corporate Secretary indicating the authority to open an account or transact business with the Bank and the authorized signatory/ies representing the entity

  • Latest GIS or List of major stockholders owning at least 10% of the outstanding capital stock, Board of Directors, and Key Officers.

  • The Bank shall identify corporate entities as well as the stockholders, directors, officers and authorized signatories of these entities. It shall open and maintain accounts only in the true and full name of the entity and shall have primary responsibility to ensure that the entity has not been, or is not in the process of being dissolved, struck-off, wound-up, terminated or otherwise placed under receivership or liquidation.

Corporations

CORPORATIONS – FOREIGN

  • At least one (1) valid photo-bearing ID per signatory

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  • License to do business in the Philippines/Amended License or Certificate of Exemption from licensing requirement issued by the SEC.

  • Certified copy of Articles of Incorporation and By-Laws/Amendment (with English translation) duly authenticated by the Philippine Consul in the place where the corporation was established

  • Board Resolution certified by its Secretary and authenticated by the Philippine Consul authorizing the opening of the account

  • Latest General Information Sheet or List of Major Stockholders owning at least10% of the outstanding capital stock, Board of Directors, and Key Officers

  • - The Bank shall identify corporate entities as well as the stockholders, directors, officers and authorized signatories of these entities. It shall open and maintain accounts only in the true and full name of the entity and shall have primary responsibility to ensure that the entity has not been, or is not in the process of being dissolved, struck-off, wound-up, terminated or otherwise 

  • placed under receivership or liquidation.

Foundations

CORPORATIONS – FOREIGN

  • At least one (1) valid photo-bearing ID of the stockholder

  • 2 pcs. latest 2x2 ID picture

  • Certificate of SEC Registration

  • Articles of Incorporation If the Stockholder of the OPC is under a fiduciary duty, current notarized SPA or proof of authority to act on behalf of the trust or estate and at least one (1) valid photo-bearing ID of agent/trustee/administrator/executor/guardian/conservator/ custodian.

  • If Stockholder is a foreign natural person, Authority to do business under the Foreign Investment Act.
     

FOUNDATIONS

  • At least one (1) valid photo-bearing ID per signatory

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  • Certificate of SEC Registration as a non-stock, non-profit organization

  • Articles of Incorporation and By-Laws as a Foundation

  • Notarized Board of Trustees’ resolution duly certified by the Foundation’s Secretary stating the following:

A. Authority to open an account or transact business with the bank 

B. Officers authorized to sign checks and other instruments, their limits and combinations

  • Latest General Information Sheet which lists the names of Trustees, and primary officers such as the President and Treasurer

  • Accreditation certificate as a Foundation from government agencies such as BIR, DOH and DSWD

ACCOUNTS IN TRUST OF FIDUCIARY ACCOUNTS
( Where the account is opened through a trustee, agent, representative, nominee or intermediary. )

Accs in trust of Fid

IN-TRUST-FOR (ITF)
 

  • At least one (1) valid photo-bearing ID of guardian or representative

  • 2 pcs. latest 2x2 ID picture of guardian or representative

  • Birth certificate of minor

FOR-THE-ACCOUNT-OF (FAO)
( Where the account is opened in behalf of an entity or an individual other than a minor. )

  • At least one (1) valid photo-bearing ID of the depositor/principal/trustor

  • At least one (1) valid photo-bearing ID of the agent/nominee/trustee

  • 2 pcs. latest 2x2 ID picture of the depositor/principal/trustor and agent/nominee

  • Current and notarized Special Power of Attorney (SPA) or its equivalent executed by the depositor/principal in favor of the agent/nominee

  • Documents evidencing the relationship and/or agreement of the depositor/ principal with the agent/nominee, as necessary (particularly if the agent/ nominee is not a relative of the depositor/principal)

Estate Accounts

ESTATE ACCOUNTS

  • Where the account is opened after someone has passed away. The named estate Executor is in charge of setting up the account and managing it. The account can be accessed by the Executor of the estate to deposit the decedent’s money and pay the decedent’s personal debts and bills, including funeral expenses. It is also the account from which the Executor distributes any applicable funds to beneficiaries of the estate. When the money is in the Estate account, the Executor holds it in trust for the beneficiaries of the estate.

  • At least one (1) valid photo-bearing ID of administrator or executor

  • Latest 2x2 picture of Administrator or Executor Death certificate of deceased person Court order or testamentary will authenticated by its Legal Department.

TresureInTrustAcc

TREASURER-IN-TRUST ACCOUNTS
(The Treasurer-In-Trust (TIT) account is a requirement for corporations that intend to set up a business in the Philippines. The TITF holds a specific amount of either capital, paid-in-capital, or inward remittance deposited in a bank until the SEC application to do business has been completed and the company can start operating.)

  • Latest 2x2 ID picture, 2 pcs. each for every signatory

  • At least one (1) valid photo-bearing ID per signatory

  • Proposed Articles of Incorporation and By-Laws which include the temporary appointment of Treasurer-in-Trust

  • Letter from Treasurer-in-Trust addressed to the Bank

  • Treasurer's Affidavit

  • Corporate papers

  • Proof of registration from SEC as a corporation/partnership must be submitted within one (1) year and to be allowed with one (1) year extension, provided, proof of submission of requirements to SEC shall be submitted

Fees and Charges

Fees and Charges

Account Closure
(less than 31days upon account opening)

₱500

Falling Below Maintaining Balance

₱5,000

Account Dormancy

₱30

Account Opening Process

Account Opening Process

STEP 1   : Visit the nearest First TRuBank Branch

STEP 2   : Go to our Customer Service Associate and fill out account opening forms.

STEP 3   : Prepare your valid ID, other requirements and the minimum initial deposit.

Accepted IDs

Accepted IDs for Account Opening

For proof of identification, request for at least one (1) valid photo bearing
identification documents:

1.   Passport including those issued by foreign government
2.   PhilSys ID or National ID
3.   Driver’s License
4.   PRC ID
5.   NBI Clearance
6.   Police Clearance
7.   GSIS e-Card
8.   Barangay Certification
9.   SSS ID Card
10. Postal ID Card
11. Voter’s ID Card
12. Senior Citizen’s ID Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. OFW ID
15. Seaman’s Book
16. Alien Certificate of Registration/ Immigrant Certificate of Registration
17. Government Office and GOCC ID (e.g., AFP, HDMF IDs)
18. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
19. DSWD Certification
20. Company ID Card
21. Birth Certificate
22. TIN
23. IDs duly issued by foreign government where customer is a citizen or resident
24. Student’s ID
25. Integrated Bar of the Philippines (IBP) ID
26. PhilHealth Cards
27. Company IDs issued by private entities or institutions registered with or supervised or
regulated either by the BSP, SEC or IC
28. Maritime Industry Authority (MARINA) ID Card

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​Deposits are insured by PDIC up to P1,000,000 per depositor.

For complains or concerns, you may visit our First TRuBank Branch

or you can reach us through any channels listed in our Consumer Assistance Page.

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First TRuBank (A Rural Bank), Inc. is regulated by the Bangko Sentral ng Pilipinas.

www.bsp,gov.ph​​

Copyright ©2024 First TRuBank (A Rural Bank), Inc. Serving the Countryside since 1960.

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