Best Banks in the Philippines in 2024

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The following are the lists of best banks in the Philippines in 2024. Taken from the published ranking by the Bangko Sentral ng Pilipinas, the lists include the best commercial banks in terms of assets, deposits, capital, and loans.

It would be great to have savings and investments with these banks. If you are still a student and you are looking for the best bank to work for in the future, they are also recommended.

Update: Let us know which is the best bank for you in terms of customer service by leaving your experience in the comments section.

Best Banks in the Philippines in 2024

We consider the following as the best banks in the Philippines to be banking with this year because of their impressive growth and great performance. The top are always BDO (Banco de Oro), Metrobank, Landbank, BPI (Bank of the Philippine Islands), China Bank, and PNB (Philippine National Bank).

It’s obvious why BDO came up to the rank number 1 because it started the bank operations for the weekends. Every SM mall also has BDO. Apparently, SM employees and other employees get their salaries through their BDO bank account.

We can say that BDO, Metrobank and BPI are also the best banks in terms of investment. They have their own trading platforms. Metrobank launched the most advanced trading platform in the Philippines through its First Metro Sec Pro.

Euromoney cited Metrobank as the best bank in the country for the past few years. Metrobank is also one of the Strongest Banks in Asia. China Bank has also done a massive growth in the past years.

PNB climbed up since it was acquired by Allied Bank and maintained its top position. Landbank did an excellent job this time ranking number 3 in terms of total assets.

Security Bank also did a great performance climbing up ahead after revamping their company. East West Bank is also doing a great performance just like Unionbank (the top digital bank in the Philippines).

Taken from their published balance sheets and statistics, we have summed up the useful values and amounts associated with their assets, capital (Stockholder’s Equity), loans and deposits.

How we ranked the top banks in the Philippines?

Notice that we listed the official data as of March 31, 2024. Data is shared by the BSP (Bangko Sentral ng Pililipinas), available to the public. The figures will be updated every quarter.

Top 10 Best Banks in the Philippines in Terms of Assets

Amounts in Million Pesos

  1. BDO – 4,375,916.74
  2. Metrobank – 3,271,008.11
  3. Landbank – 3,268,437.36
  4. BPI – 3,033,330.88
  5. China Bank – 1,627,194.58
  6. RCBC – 1,284,475.02
  7. PNB – 1,193,674.90
  8. Security Bank – 1,069,477.38
  9. UnionBank – 983,205.26
  10. East West Bank – 453,875.71

Top 10 Best Banks in the Philippines in Terms of Deposit Liabilities

Amounts in Million Pesos

  1. BDO – 3,536,174.84
  2. Landbank – 2,880,877,61
  3. BPI – 2,384,019.00
  4. Metrobank– 2,116,019.72
  5. China Bank – 1,087,883.77
  6. RCBC – 959,100.17
  7. PNB – 912,030.08
  8. DBP – 756,046.32
  9. Security Bank – 640,685.24
  10. UnionBank – 567,982.69

Top 10 Best Banks in the Philippines in Terms of Loans and Receivables, net

Amounts in Million Pesos

  1. BDO – 2,837,473.66
  2. BPI – 1,936,067.49
  3. Landbank – 1,411,592.37
  4. Metrobank – 1,338,683.45
  5. PNB – 699,157.87
  6. China Bank – 681,426.54
  7. RCBC – 645,127.40
  8. Security Bank – 539,841.42
  9. DBP – 488,854.68
  10. UnionBank – 392,877.54
best-banks-in-the-philippines

Top 10 Best Banks in the Philippines in Terms of Capital (Stockholder’s Equity)

Amounts in Million Pesos

  1. BDO – 523,189.44
  2. BPI – 401,058.25
  3. Metrobank – 333,234.41
  4. Landbank – 276,832.99
  5. PNB – 187,272.67
  6. UnionBank – 170,749.51
  7. RCBC – 150,164,37
  8. China Bank – 148,358.26
  9. Security Bank – 134,598.41
  10. DBP – 86,571.56

Best Banks in the Philippines in Terms of Customer Service

It’s your vote that counts here. Tell us your favorite bank in terms of service by commenting in the comment box. Share your experiences and why do you consider it as your favorite bank.

What about you, where do you put your savings, deposits and investments? Who do you count on when you need loans? Share about your banking experience by commenting.

Other Banking Guides:

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Fehl is the founder of Philpad and has been writing online for 12 years. She has a bachelor's degree in Accountancy and a background in Finance. She is a licensed Career Service Professional and author of a poetry book at Barnes & Noble. In her spare time, she likes to travel and discover new places.

183 thoughts on “Best Banks in the Philippines in 2024”

  2. For me BPI is an okay Bank , though I don’t have an account with them. Due to their machine it’s easier to pay bills , deposit and withdraw. We have an account in BDO though , we don’t experience the long waiting because we know all the staff in our BDO branch . Kaya pwede namin isingit anytime ang transaction namin kapag mahaba Pila. Kaya I can’t tell the side of depositors waiting in long line.
    Worst bank we’ve experience is METROBANK meycauyan. All the staff and the manager too are all nakasimangot. Not accommodating specially if you dont look rich. They’ll keep you waiting for hours just to confirm a check before you can encash it. At pag hindi mo pa pinalow-up . You wouldn’t know na hindi pa sumasagot yung branch ng checke NA wini-withdraw mo.

  3. You wanna treat like a GOLD? Please visit our website and learn more about the new Security Bank. New products and Services that tailor fit to your needs because #YouDeserveBetter

  4. BDO sucks! Their tellers and staff are not accommodating especially on weekends. Tellers wont even smile at you and there are time when I needed to make a deposit that tellers would pause at what they are doing to chitchat with one another in front of clients who have been in line for at least 40 mins. BPI’s online services are the best! Transfer funds, manage your accounts, pay bills, etc in seconds. Whe you walk in, you dont need to fill up confusing bank sllips as everything is done electronically. They will give you a queue number and you can wait for your turn comfortably on your seat. Everyone, even the guards will smile at you. Most of these banks products and services are the same, but how they treat their clients is what matters. BDO should learn a thing or two with how BPI serve their clients, just like how they are now copying the mobile banking app of BPI.

    So Sorry Miss BDO endorser / employee or whatever, I;’m not sure where you are getting your figures but your poll would tell that many favor BPI over your beloved BDO.

    • BDO is the worst in customer service. Bank employees discriminate class d & e customers but they are know as a “wet market bank.”

  5. Bdo

    Worst customer service..

    Only bank in the Philippines that has no seats for customers.

    You have to bring your own portable chair because you’ll be standing up for quite some time.

    Parang Pila sa tayaan ng lotto. Pag malaki ang jackpot

  6. Aside from Having international accounts (HSBC,SCB,Citi)) meron din akong BPI, BDO. They got strengths and weakness. So I just treat them fairly lang din. One thing that I’ve noticed about BPI is that they are promoting self-service methods w/c convenient lalo na yung deposit machines nila which is I find it convenient lalo na at ang uwi ko is 1am( I’m working in HSBC technohub) With BDO naman, they got saturday banking which is great lalo na if you have branch transactions that is needed during weekends. Pero it’s long line talaga. With my international banks naman, I use those 3 companies kasi they got branches in overseas specially with HSBC and Citi. Last but not the least, SCB is the only international bank na nakita ko na merong savings account without maintaining balance and no opening balance so I find then very convenient and in par with BPI since they also got self service methods such as deposit machines and etc.

  7. My experience. BPI is the best bank. BPI requires less documents and requirements + staffs are direct to the point. Unlike BDO, they requires more requirements and documents+ the worst are the staffs. Why? they ask you everything as if they are not experience employee. They will ask you, what is A,B,C,1,2,3//////etc

  8. I’m from the states and banking in the Philippines is just flat out terrible. I have both BDO and BPI. But between the two…BDO is the worst. They make you stand in line to deposit or withdraw, sometimes for as long as an hour or more. A guard also makes his rounds scolding you everything you touch your cellphone. I’m a business man my business shouldn’t stop when I come in the bank. Customer service is horrible and they charge for everything even depositing at a different branch. I can’t say in enough words how terrible BDO is.

    • That is true, even though their motto is “We find ways.”

      Obviously they choose to not find ways to make banking with them as good or even better than with Bpi.

      Still, at least they have to my observation the most number of atm machines and branches and hours, in particular with their branches in the SM malls.

      Then also I am worried that Bdo being a Chinese bank, it will stop operating and disappear once the family breaks up.

      That is what to my limited observation though, a lot of big businesses owned and operated by Chinese who succeed in a lifetime to get richer than the Spanish mestizos like the Ayalas and the Zobels, these businesses don’t continue upon the death of their Chinese founders.

  9. i recently became a member of bdo bank mactan,cebu…im from the uk but live here with my family and i think bdo bank here need to learn more about how to treat there customers..the customer is the persons who make any bank there profits,without them they woudnt exist so you should treat the customer with respect and dignity…in the uk when you enter any bank there are service assistants who ask if they can help you,there are hardly any queues and there are also atms inside and outside most banks where you can deposit and withdraw funds,no hassle,no problem and quick service.so why here in mactan bdo branches there are always long queues,no atms inside whether it be for deposits or withdrawals,im sure the bank is making big profits and can invest more to make customers more comfortable, more welcoming when entering there branches wherever they are..because sometimes when i go to deposit money with my wife and baby daughter we have waited more then 1 hour and a half,that is bad customer service and unacceptable,we have seen at the most 2 tellers when it is obvious the more tellers are needed,if they are unable to supply more tellers when the queues are long why dont they employ more people,becuase it seems to me that the bank has a dont careless attitude towards people who have to put up with this evreytime they go into the bank..point taken….

    • Sir, Since you mentioned about deposit and if you are a frequent depositor. I suggest go with BPI Bank, any branch will do. They do have Money Deposit Machine wherein you can just insert your cash, you don’t need to face a teller. Plus, the customer service is great.

  10. In all the banks mentioned, i prefer PSBANK! Philippine Savings Bank simple lang, maaasahan! the only savings banks in Philippines na nakapasok sa ASIA’s 500. Bakit ko nasabi? Well sit back, check it out, and vist their website! But wait !theres more! PSBANK ang may pinakamababang interest in terms of Loans sa lahat ng banks! Simple lang di ba? Think well my friends.

  12. Hi Guys! after reading this helpful topic and comments… I’ve decided to go on BDO and MetroBank but still I’m confuse what type of bank account should I open 🙁 I want my money grow with or without depositing in month/s in the bank and I want to use this account for my future Investment… Thanks guys!

  13. for me i would go through BPI. very knowledgeable ang kanilang mga employee.kahit nagtanung lang ako sa teller regarding investments alam na alam nila.Hindi yung type na teka e rereffer muna kita sa officer namin.that’s what I’ve like BPI very smart employee and very convenient bank.

    PS: Kung gusto mo rin ma una sa queuing number nila.pwede ka kumuha ng online number sa bpiexpressonline as long as nka enroll yung account mo sa online.you know for me BPI is incomparable.

    and this is my experienced…..

  15. Can you also do a review on the negative sides, like how often their system go down or the likes. In that way we can tell which one can provide the best consistent service.
    Just my piece. By the way, very good list. It gives me an idea where to go to.
    Thanks.

  16. for all your banking concerns, try east west bank. just a suggestion. one of the best bank i experienced in terms of customer service and satisfaction.

  17. I had bad experience with Metrobank. I had a credit card and salary account in the same bank. They deducted my credit card balance from my salary account without my consent. I thought I was hacked when my salary was less than expected. For some reason and rage, I figured out that my salary deduction came from the credit card. And it turned out they even got more than my credit card balance. However, they returned the excess payment after my dispute. But, they could never gain back my trust. I’ve closed all accounts there and have already considered other banks.

  19. Never Bank wih BDO, they are “The Modern day Robbers”. I opened an ATM account with them some years ago for only P1,000(opening and maintaining) but months after they had to increase the maintaining amount to P3,000 and we were not even advised! so after 5 months my account was closed. They charged me P200 for going below their maintaining. Went to my branch of account and asked what happened, they just told me that it was closed and they couldnt access my account anymore… lesson learned? don’t bank with robbers!

  22. hi.. Just want to add that BDO strive to serve their client better. If you have any complains or anything you think needed to be reported, they have this want you call BDO watch. You can text or email your concern and 100% anyone involve will be reprimanded.. Visit their webssite toget the contact #

  23. Hi to all!

    I suggest you might as well try other emerging banks other than the top 3 banks that’s always been listed as of the best. I can suggest Eastwest Bank to try because apparently:

    1. They are expanding within this year, they are targeting to have 400 branches nationwide within the end of the year.
    2. No charges for interbank transaction (unlike bdo)
    3. They offer good rates for Dollar exchange and doesn’t necessarily need an account to have a transaction with (Just bring valid id)
    4. They offer low maintaing balance in checking account and passbook.
    5. Easy to enroll with their online enrollment which can also give you convenience in banking.
    6. They are now offering good rates especially to Time Deposits.
    7. They have a good customer service.

    You can also try PS Bank, which is a subsidiary bank of Metrobank which can offer you fast approval in loans such as housing and auto loans

    This is just an insight and opinion though. It doesn’t always necessary to open an account within the top 3 banks isn’t it? 🙂

    • I opened an ATM account at Eastwest Bank last August 19, 2014. I liked how there wasn’t any long queues unlike in most big banks nowadays. I was told I’ll be able to get my ATM card “next week”.
      I came back eight days later and my ATM card was still not available. I needed to withdraw money that day so I was forced to withdraw through the teller and I was charged P100.
      I understand the charges. But the least they could have done was waive the charge since they were at fault for the delay.

      But to be fair with Eastwest Bank, I’ve been using their credit card for two and a half years now and I’m overall very satisfied with their credit card services especially how I could easily check online my outstanding balance and available credit limit. I no longer open the monthly bill they sent me because I can check the bill earlier online.

      • Hi Miss Henie!
        Can I ask some information about the credit card of EastWest Bank?
        I’m conducting a research about the collection practices of EastWest Bank credit cards. Can I know what are they doing/ procedures/ steps they are making in collecting your debts to them?
        I hope you can read my comment. This would be a big help for me. Thankyou!

  24. Hello,

    Just recently I opened a savings account at chinabank due to some factors. First of which is that di mahaba ang queue (kasi lesser and depositors compared to the big three. lol). I am also interested in investing part of my salary in prension/life insurance or probably a TD. Ano po ba yung suggested Insurance companies or banks niyo. thank you so much.

    • TD won’t give so much income. I recommend you get Mutual Funds instead or UITFs if you want to open from banks. If you dno’t have insurance yet, go for VUL coz it has investment + insurance.

  26. Depositing at a different branch or withdrawing at a different branch is extra charge, anytime I go to another branch expect extra charges for anything I do. These charges aren’t cheap either minimum 50 pesos or higher depending on the transaction. One company one entity does not apply to them, Kanya Kanya style, they compete with each other and blame other branches for screw ups. Customer service isn’t good either, due to their bad security on their credit card line someone was able to purchase 50 airline tickets from my credit card in a matter of 2 days worth 80 thousand. I complained about it and told them I haven’t purchased any airline tickets in 4 months so they told me to fill out forms for each transaction then I should scan and email it to them. What a hassle for something that’s common sense, in the states I would never fill out forms for something like this. With so much money going into bdo you would expect them to provide better service, less procedures, less charges. Unfortunately that’s the opposite.

  27. The best bank in your list for 2014 (specially the top 5) are the worse in customer service and satisfaction. For me the best bank should be the one who takes good care of their client, No long lines/wait, no burden of having to justify that money wasn’t dispensed, or that the billing statement came late. ATM is online when you need it the most (online during payday and holiday). We the banking customers just want to be treated better by their banks since we put money in them, invested in these banks with a measly amount of return on interest.

    • Like I said, as to customer service, I lay out the decision in the comments here 🙂 Thank you for sharing your comment about your banking experience. 🙂

  28. I have to agree that your money is secured with Metrobank, but I absolutely hate their staffs. I went to a Metrobank branch and their security guards are rude. Their tellers are slow and very masungit. They also have long queues for their turtle-like service. What irritates me the most is that they refuse to accept cash with scotch tapes. Aren’t they suppose to accept mutilated cash because they’re a bank? I just don’t like Metrobank at all and I don’t recommend to open an account there .
    It’s better to open at BDO, BPI, Sterling or Chinabank in my opinion.

  29. Hi Fehl,

    Pros for BDO: Secure online banking with Mastercard ATM abroad. BDO has been able to assist me activating my one-year-and-a-half unvisited account.

    Cons for BDO:
    1. Very slow to resolve my online enrollment, which took 12 days to get approved.
    2. Most of the branches do not accept any check deposit to my Savings Account, which is ridiculous. Thank God, one of them relented after two weeks of haggling

  30. Hi, I’m still new to the different banks here in the Philippines. Taga-isla kasi ako eh 😀
    Anyways, I want to save my money as an emergency/college fund so what bank do you think is student friendly base on your experiences? (14 pa kase ako kaya wala pa masyadong experience)

    • Most banks have products for students like you who want to save early. Go to BPI, BDO and PNB and check out their latest bank products that suit your goal

      • Hi my husband s a businessman we wany to open an savings account we also want to have cheque for business porpuse and credit card for us and in the nesr future try to loan a car…what bank you think is the convenient for me and the least interest.

  31. LARGE DEPOSITOR – super asikaso by bank reps.. NAkA smile pa…
    AVERAGE DEPOSITOR – MAGSAWA KA SA KAKAHINTAY SAMAHABNG PILA. SUSUNGITAN KPA NG TELLER..
    HAAAAYYYYYY…

    (MADALAS NANGYAYARI SA BDO)

  33. Okay, maybe Metrobank always ranks high on different lists but I just have to say that I hate their employees. I don’t like how they treat customers. My mom and I went to a branch (I won’t tell) to inquire about that UITF stuff, actually we brought already some amount so we can invest that day. And since the amount is actually quite high, we didn’t dress up so much. Our clothes are just really simple yet presentable (like no make up and accessories) but when we ask one of their employees, she took a very long time answering while she’s actually doing nothing work related (just fixing files etc. on the table) and apparently she doesn’t know the UITF that much so she let another employee of a higher position, i think, to entertain us. However, I don’t like the attitude of that another employee. She looked at us like we’re some sort of people who just can’t afford to invest anything in their bank. She answered our questions but not in a welcoming way (she talked so lazily) so I just took the first step out because I was really irritated.

    I know this may not apply to all but an attitude of one or two employees had already change my perspective towards Metrobank.

    • Whoa that sounds so disappointing. Perhaps those bankers really had no idea about what you’re asking so they acted like that (which they must not). Not all bankers could entertain investments and trust fund stuff. Every bank has few Trust rep. who knows about those investment products. I admire you because you didn’t lose your cool 🙂 Thank you for sharing your banking experience here.

  35. Hi Fehl! Thanks for your insights. This blog is a BIG help for me. I’d like to ask if I can also invest in Mutual Fund if I only have P10t?

    • Yes, you can start Mutual Fund if you have 10K and just add 1K+ every month. Some Mutual Funds companies have investment products that allows that like Sun Life

  37. Does Eastwest have a good standing among the top 10 banks here in the phils? No one has answered yet the others before me who also asked about East West. Hope someone can address my query. Thank you very much.

    • Eastwest is in the top 15, not top 10.and has very poor service too.always offline! My atm card supposed to be released after 5 days, i went to the branch 8days after. And still they haven’t requested my atm card because they are always offline!

      • I heard same thing with my brother’s lost ATM card. He tried to get a new one in a branch near us but they said it would take 2 weeks so the branch suggested to apply in Makati instead.

      • Hi, eastwest bank is now the 10th largest private universal/commercial bank in the Philippines (source BSP website); also rank 5th in credit card business and one of the fastest growing commercial bank in the Country. eastwest bank is a subsidiary of Filinvest Group of the Gotianun family ( Gotianun Sr, considered as the 10th richest)

      • I totally agree that EastWest Bank has the very poor customer service. Even their online banking is worst. It’s difficult to access, very slow and always crashes. Their online banking is such a joke. When you update your contact information, you still have to personally go to your branch of account even if prior to updating your contact information, you are asked of One Time Password. Bullshit.

      • yes. i think using the word ‘best’ in this post is misleading since ‘best’ is more appropriately used in qualitative assessments and not quantitative (i. e. figures like assets, deposits, etc.). like, to be very honest, bdo may be the top in almost all quantitative categories above but i wouldn’t call them the best since their service is pretty shitty.

        • That is why I categorized the best banks as to capital, loans, etc. I just left the best banks in terms of customer service at the readers comments here. 🙂

          • Assets are what a company owns such as machinery, cash, equipment, land, building etc. Capital is usually the funds required to produce goods or profit and can be considered as asset

    • Any commercial banks would do, as long as you have an account w/ the branch, provide documents of where you got that large amount of money or if it does commensurate with your financial capacity. Php44M is just a small amount. You need to call the bank and inform them of the exchange to prepare the cash as banks do have cash limits in vault. Though It would take atleast an hour to serialize your 1k pcs in 100’s haha…

        • yes this is a big money!!!!… this dollar got to my grandfather!! and i don’t know what is the best bank who can afford!!

          • I suggest you approach a bank Trust Department in the head office and put your funds in a Trust Fund to be more secure because PDIC only insures 500,000 pesos and you have damn a lot of money. Did you say 100 million dollars? That is 4.4 billion pesos. Don’t approach a branch, go directly to the head office of a bank. I can assist you but we need James Bond and some convoy of men in black LOL

  40. best bank in terms of security of bank account?
    i dont think OTP can stop online theft, thumb print would be better
    neither could we stop some from peeking on our accounts, such as AMLA, NBI, BIR, etc.
    better to maintain only the maximum amount of deposit insured with PDIC and
    with explanation where such deposits came from and forget the bank secrecy law

    best bank in terms of customer service?
    each of them have possibly had lapses particularly in talking with clients and chronic culprits may have been removed from the front line,
    but a bank did better, they installed BEA machines which also queues before going to the teller
    giving more impression that “first come, first served” policy is maintained with no discrimination
    clients not oriented with these machines are promptly guided by bank personnel
    tellers recheck the BEA transaction before processing, thus minimizing error
    you could even use the BEA online system even if you have not yet reached the branch
    clients and bank personnel still talk and inter-act
    i still see no material disadvantage of BEA machines

    bank is open outside regular hours or regular days? convenient to some, but expect it is jam packed
    Personally, bank’s customer’s service doesn’t mean clients’ amenities, perks or even coffee, but more on explanation on specific account transactions, could or could not be resolved, alternatives, time frame and other points to minimize the stress of the client on the transaction

    my favorite bank usually is conservative, minimal interest on regular deposits, lower loan limit
    but it has not substantially stressed me yet.
    all transactions clear, most transactions prompt, delays have definite time to be resolved

  42. How about banks that are not strict in dealing with student’s needs.. lols.. Cuz’ we’re doing this thesis thing, and we really like to study Metrobank. however, ang susungit nila sa amin 🙁 Can we have the list of top 10 most student friendliest bank? Lols :)))

    • BPI and PNB are always friendly to everyone. If you’re having thesis, it’s best you conduct a survey. Give a form containing questionnaires and let some students answer them to gather the info. Share us the most loved bank from your survey ok 🙂

  43. Having read all of the comments to your article… Now I am so much confuse on where to open an account.. At first I said, I’ll go with Metrobank.. But now I’m really really confuse. All I want is to open an account, have my money be sevured WITH increasing its intetest.. Is that right? When you are having an account with a bank, it will turn your money gain interest? Please help me understand the process.. I want to know where or how to invest my money. Thanks

    • All commercial banks in the Philippines offer similar interest rates in terms of savings accounts. If you want higher interest rates, opt for time deposits but I tell you, it’s still low. If you want higher profit with your money, opt for Mutual Funds and UITFs

      • If you want a higher interest rate I would suggest you go open a TD account in a savings bank, they have much higher interest since they have a faster flow of money. Savings banks focus more in lending that is why they increase their int rate to encourage people to place their money in their bank and lend it.

  44. Hirap wg withdraw sa bdo. Withdraw lang ako ng 1thousand dollars wala daw sila kasi naka reserve.Pinapahanap pa ako s ibang branch. Ang laking bangko walang 1thousand dollars. Dapat daw tumawag muna ako etc etc. Another bank which has a poor customer service is security bank, nagloloko ang atm machine nila, captured ang card ko, need ko pa naman, nung withdraw ako over the counter dun s same bank kungsaan nandun ung account ko considering na reported machine problem un chinarge pa ako ng 100php. Ano ba yan? Para din akong ninakawan.

    • Oh wow that sucks. Oh girl I feel you. I think SM and BDO are very strict in foreign exchange. The client needs to write down the money serial numbers and stuff when exchanging to pesos. Big hassle.

      • Though the hassle would pay off later when you found out your dollar is fake! What proof would you present when you return the dollar? Wollah its their serial numbers! Remember, the most counterfeited money is $ because of its easy security features!

  45. BDO has a lot of tellers but still having a long queue, unlike RCBC with very pleasant tellers and officers!

  46. above mentioned banks are good but dont ignore the PHILIPPINE BUSINESS BANK theyre in the top 8 savings bank in the past 5 years. owned by ALFREDO YAO of the zesto group, considered the most admirable businessman among his contemporaries. has more than 100 branches nationwide. its a silent ‘performer’ bank.. check it out..

  47. No to BDO!!! Last tuesday (july 8, 2014), I wondered y I only have 4,700 in my savings acct (pasbook) because I know I never withdraw any amount because I know 5k is their maintaining balance. To my surprise, the teller just told me that i have been charged 300 for having below maintaining balance, so I asked her why and how come?!! She just simply said that they recently changed their maintaining balance amt from 5k to 10k effective last may 2014. I never got any letter or any type of notification about this change so after walking out of the bank, I withdraw the 4,700 in their atm and just decided to put the money in my piggy bank at home while Im still trying to save up to have the 10k maintaining balance for BPI because Im planning to open a new savings acct with them instead. I sooooooo hate BDO since then!!! Never open an acct in BDO!!!

    • BDO has higher maintaining balance compared to other banks and that doesn’t benefit the account holder IMO.

    • same here. i asked the teller regarding the two-300php deductions (600php). sabi niya service charge daw dahil bago na yung maintaining balance from 5k to 10k. sabi ko hindi manlang nag inform kung gusto ko daw gawa daw ako ng letter BUT hindi daw siya sure kung mababalik pa, useless din so bakit pa ko gagawa ng letter di ba. sa inis ko pinaclose ko account ko ngayon. Pero dapat talaga gagawa ko ng letter eh, iattached ko sa letter ko like tong comment mo as proof na hindi lang ako yung hindi nainform but huwag na lang. kanila na yung 600.

      • Direct the letter to the CEO. I’m sure there will be a very very quick action 🙂 We will all benefit from it

      • Im a bank officer of BDO and Im very sorry for that..for your information,it was never 5k its 10k. 5k is only a partial deposit or initial deposit as what we call it. Again we’re sorry, some customer representative might informed you wrong.

        • i opened my savings account since 2010 and the initial and maintaining balance was 5,000.00 so you cannot say that representative informed us wrong it was you who didin’t give any information to your client about the increase of maintaining balance i was a victim of this also debited of 900.00.

  49. Best Bank in terms of Customer Service? BPI will be on the top spot.

    BDO is the worst in terms of Customer Service.

  50. I have been with BDO for quiet sometime as Im an original Pcib depositor, then became equitable and now BDO. I stayed with Bdo because im an ofw and remits my hardearned money bank to bank thru bdo, and i would say bdo remittances are the best, my remittance is deposited in a matter of 1 hour from overseas banks and with the best exchange rates used.. However, when im in Manila i get so dissapointed with bdo branches due to long queues at the counters and customer services. I happen to live walking distance to an sm mall, so i always jave acces to atms, but most of the time bdo atms do have very very long queues too, if not offline. So now im just using my bdo for my remittances and kept my savings with BPI, metrobank for me is not an option as i had very bad experience with that bank.

  51. I think Eastwest is the most convinient way of banking, easy access facilities never been hard, no long wait for branch transactions and high credit card limit in their credit card

  52. Sorry but I think this article is misinformation.
    Just because the banks are the biggest in terms of assets, capital, deposits or loans doesn’t mean it’s the “BEST”.
    You could have used the term biggest as it is more appropriate. The term “BEST” is utterly misleading.
    I would understand if the numbers presented are based on growth of deposits and loans, or the performance of its investment instruments.

  53. Hi Author. Nice article. These banks may be belong in the top 10 list in terms of their assets, capital, and loans but have you consider what’s the top 10 as well in terms of best service and worst service? Just saying. Thanks

    • As for Savings Bank, it maybe new in the market ,but Sterling Bank of Asia has a very good customer service. In all branches even if you do interbranch transactions, the staff and officers are really nice.

    • I know. That is why the comment section is open. The people’s comment will give the result for that. 🙂

  54. i hope there is ranking as to customer service. i had a very bad customer experience with #metrobank. Last time when i was a victim of skimming, it took them 5 months to resolve the issue. If i didnt complain to BSP about their slow response – wala silang gagawin. i even have to suggest on some audit procedures on how to established that my case is skimming.

    • Hello ck, i hope you can help me… same experience with metrobank until now di pa resolved they dont want to return the money because wala daw sa records nila na naskim ung atm ko and that never naman daw nagkamali sa pag input ng PIN. so they want to make it seem like it was just me who withdraw the amount or that i gave my PIN to someone, which i did not. did you get your money? Pano ka nag file ng complain sa bsp? Really need help… thanks!

  55. Hi ms mariz, do you have any suggestions were i can put my money with a high interest rate like mutual funds or something?
    thanks.

  57. PNB has good service on internet banking, until recently, when they introduce the a system which they called OTP ( one time password) now it sucks???

    • To be honest, both banks and the account holder need that OTP. BDO has it too in their online banking log in. It is very important for account holders’ online security. You wouldn’t be wanting an online thief or hacker to view or enter your online banking account, would you? Passwords and logins are easy to guess nowadays, One Time Password is very important.

  58. Security bank and security bank savings will merge soon. account officers can give personalized services to the clients regardless if corporate or individuals. They can go to the clients to transact without you going to the branch.

  59. Ms. Fehl, please try to rank them as to their performance. BDO have been on top since they have acquired several banks before. Whay we may want to know is how strong are these banks. Life of banks depends on their performance and what they do to their stakeholders – owners, clients, employees and the community.

  60. i think bdo is makamasa but its like a big bayad center bec of madami tao pero when it comes to service i think they failed to it imagine people were standing while waiting for chinabank is still more on makamasa than bdo pagpasok mo pa lang guards palang nka smile na at nkabati pa sayo pati feeling at home kapa because of the service of the staff and officers san kapa!!!!

  61. basta ako di ko na kailangan pumunta ng bangko para lang mag bayad ng bills at magtransfer ng pera.mobile at internet banking sa BPI ganda talaga.try ninyo amazing talaga

    • BPI is one of the best banks here. I think though they must reinvent their banks interior design. Just a suggestion

    • But you still need to go there to make deposit. One thing that BPI may lose is the personal relationship between the employees and the clients. At BPI, machines will be the one to greet you since it’s more of a self service thing.

      • I admire what BPI did about the machine / kiosk thing when you fall in line coz it make transactions easier and faster plus no “singit” Metrobank, BDO, PNB need to do something about their long que service too. If they won’t add tellers, they should add machines like BPI did. Some banks put priorities to their big time clients than those ordinary clients who are falling in long lines. Time is money but sometimes money becomes time. Sad but true

  63. I still think bpi is the best…for me its more convenient..there are no charges..I remember in bdo if u deposit in the other branch even if its just a block away they will charge 50 pesos..unlike in bpi…just saying..

  64. Just to correct, PNB was acquired by Allied Bank not the other way around. but since PNB is more known than allied bank. so they decided to carry the Name PNB…

  67. I have maintain savings account with the big 3 banks and Chinabank too.
    I love Chinabank’s online banking feature – very secure, convenient and easy to do transactions like transfering funds to the 3rd party banks with low transaction fee which only chinabank offers.

  71. Hi! I would just like to ask the standing of Asia United Bank among the rest of the newly emerging banks in the philippines.

    • PBCom right now is in the midts of changes.. They are into Next Level Banking..I saw their new branches, its awesome. a merger of of global and local bank culture..As to security, its safe to bank with them, they offer competitive rates, especially time deposit and dollar savings.. they have few branches but distance was never a problem with them..great bank..

      • Isn’t it that they are still under the radar of PDIC? As you may know, PDIC has injected addtl liquidity to PBCOM to help dispose of its bad loans a few years ago. The good thing is that they are under a new management and controlled now by the ISM group headed by Eric Recto. Are they stable right now? I mean is it safe to deposit our money with them?

        • As to safety for deposit, yeah its safe to deposit with PBCOM, they are growing and as a matter of fact, in business world issue August 22, 2013 PBCOM topped all banks with an astounding Return on Equity of 35.31%, with BDO and BPI on 29.62% and 24.77% respectively. That’s a good indication that the bank oi doing well. Let us see what will happen next 🙂

  74. Hi my account was frozen by AMLA for having a regular dollar remittance abroad. It is on a regular basis already for a month before they froze it. Can anyone please suggest a bank that can accept big deposits from oversee on a regular basis. PS. Please give me advice too on what I can do about my account being freeze and how can I unfreeze my account the fastest way. Thank you.

    • Hi! Your account should not be frozen for that long a time if you can substantiate your remittances. Like where these come from and from what business are these proceeds of. Contact me,if you please…

  77. Rather than comment, May I ask your opinion about BOC , owned by SMC whose shares were offered for sales to CIMB, Malaysia’s No. 2 bank. The 2nd bank am curious about is Maybank which is also a PHL and Malaysian partnership. Please email their rankings as of the latest in 2013.

    In the province they are easy to deal with too, other than the top 3. Thanks.

    Mariz

      • Hi, i bank at Maybank. Its the largest bank in Malaysia with assets equivalent to the total of all the top 10 banks in the Philippines. Its so easy to bank with them & assured that its a stable bank.

    • Hi! Partnership of BOC and CIMB didn’t push thru. So BOC is still under San Miguel Corp. Nothing to worry about, still one of the most stable local commercial banks.

      Maybank is also a very good bank. They are also aggressive especially with Loans and Deposits. And a very stable foreign bank.

  78. This topic is interesting. I am about to open a personal savings account but a little bit confuse where to open. I am an employee and my payroll falls on BPI and I am thinking of opening a personal account on BDO. I want to choose BDO since it has a good schedule because you know, as an employee, I have the same office hours together with some banks specially with BPI. By the way, these are the things I preferred before opening an account.
    1. Accessibility
    2. No conflict in office hours
    3. Bank stability
    4. Interest rate
    5. Good service crew
    6. Quick service response (online, over-the-counter)
    7. Online banking
    8. Have many branches and ATM availability
    9. Dollar account access
    10. Security
    – Oh my, seems like I’m over acting…. Hahahahaha ^_^

    • Hi, Bong 🙂 No you’re not over reacting 🙂 It means you are a smart saver and investor. Personal savings have low interest rate and they are all the same here. I like BDO too coz they are accessible and they are open every weekend. I see BPI and Chinabank have also branches in malls too. Still BDO is the most accessible. hehe I agree with you about the factors to consider when opening bank account here. Thank you for sharing them here. 🙂 You have an amazing mind!

    • with bdo you can have: 1,2,3,7,8,9,10
      with BPI: 1,3,5,6,7,8,9,10
      with Metrobank: 1,3,5,6,7,8,9,10

      this big 3 will not give you GOOD interest rates if it’s a regular savings deposit. even a time deposit, you will not go so far. It’s more of a safekeeping.

      if you want to have a better interest rates but compromising all those 10 considerations you have listed, try to bank with rural banks. I think Bank of Makati is a good one. I can not speak for all those other Rural banks.

      • In any category BDO is always on the no. 1 spot. While its co-brand Chinabank is at no. 8 on assets, No. 5 on Loans and No. 8 again on Capital. Hadn’t BDO acquired Equitable Bank who merged with PCI Bank previously all together with its assets, loans, deposits and liabilities could they be no. 1? The buy out was a big help as it absorbed its market thru its depositors/clients and borrowers which most investors are concern of, specially with its banking system that is extended on mall hours and still serves even on weekends. So, congratulations to Mr. Henry & Hans Sy and their family!

        • Yeah it acquired Equitable some years ago. The merge was a big factor for big growth. Speaking of merging, PNB was acquired by Allied Bank last February. I heard BSP is planning to focus to maintain only big 4 to 5 banks in the Philippines so we expect more merges soon 🙂 Let’s see which bank will remain.

  79. well the ranking is based on their financial statements…do you have a ranking based on their good services
    to their clients ?

    • Yeah, ranking was based from figures. I guess we could see the ranking for good service by hearing people’s comments here. Some people are sharing their bank service insights and experiences at the comments. It would be interesting to know yours 🙂

      • How about rating these banks according to the extent of their customer service orientation. I once encashed a BDO check ( issued from BDO= Tagaytay Branch) at a BDO branch in Quezon City. I was paid 1,800 pesos out of 2,000 BDO check payable in my name. Their explanation: service fee.

        • Whoa! The things they do to make more money. You should have deposited the check in your BDO account instead 😀

          • Some time last year, I reluctantly opened an account at this BDO branch in QC. Several years back this same branch refused to trade me dollars for pesos because I didn’t have an account with them. It’s policy, they insisted. I left. By the time I tried to open last year, I was hoping things have changed.

            The account opening went without a hitch and everything was pleasantly smooth until this one fateful day. More than half a year later and several over-the-counter transactions of check deposits I was told that my account has been restricted to “Cash Deposits” only. I argued I’ve never been aware of such a restriction. I pointed out that I, in fact, have already made several such deposits in the same branch. I even produced a copy of a deposit slip that happened to still be in my wallet. The teller advised me to wait and that she will have to check their records.

            Several minutes later she came back and told me that my account has had the restriction ever since the day it was opened. What?! Why have I not been informed about this? So I asked why it had such a restriction. The teller responded that it is policy that an account holder must have a landline for the restriction to be lifted. What?! Who uses landlines nowadays? It’s policy, they insisted. Fine. Realizing the futility of arguing, I opted to just encash the check then since it was a BDO check. Lo and behold, I had to be charged One Hundred Pesos to encash the check!

            These rankings are misleading and can drive more uninformed clients. There should be ratings for Customer Service too.

        • I think it was fair for you to be charged because you are encashing a provincial check in a metro manila branch. I work in a bank and i find these charges just. Imagine if no charges were applied, a lot of local remittance comp would lose their businesses. People and their relatives would just open a bank account and if they need money, they would deposit money in metro manila and withdraw it in the province.

          • Actually, BPI does not charge anything for inter-branch deposits and we know we can always withdraw from any ATM branch nationwide for free. So people do and have been depositing money from major cities and withdrawing it in rural areas or vice versa free of charge. When I was still studying a decade ago, my mother deposited cash in her Metrobank account in Leyte and I used her ATM card in withdrawing it in Cebu – for free. Now, my brother in Manila currently has a BPI account, as do I, and when I need him to buy me something, I just use my smartphone to transfer money to his account – again for free.

            There are many ways to send money without paying anything which many just are not aware of. But it doesn’t mean that local remittance companies would go out of business. There will always be people who’ll find it a hassle or impractical to open a bank account especially if they live far from the city. Besides, why would they when it’s just as fast, cheap and so much easier to send money through remittance channels. Maybe this is a reason why Palawan Pawnshops/Remittance Centers have sprouted like mushrooms as of late.

            Anyway, back to the issue of BDO charging for encashing a check, most money changers I know of only charge 0.5 – 1% of the check amount. So a P200 “service charge” for a P2,000 check is over the roof for me.That’s way too much not to mention that the check was issued by the same bank just from another branch. Tsk3x. Not cool, BDO. Not cool.

          • Your line of reasoning is archaic at the very least. Interconnectivity is now the new name of the game. BDO charges relatively the highest among banks in terms of their finance and transaction charges. Yes, charges should and must apply, for inter-bank transactions. I don’t mind that. Same bank transaction? C’mon, I would have agreed with you had we been in the 90s. Landbank charges 50.00 While BPI charges nothing.

            I would go for BPI when it comes to customer satisfaction. Lest you say I am being biased, i have accounts from most of the banks enumerated above. Landbank for payroll, BPI family for savings, BPI for trade and investments, Metrobank for my insurance, Unionbank for another insurance, and BDO, well for shopping at SM. BPI trumps them all when it comes to customer satisfaction.

  80. What a great article on banks in the Philippines. This is very useful for anybody saving or opening an account or just starting a job. You really know things about finance and business. There are so many business opportunities there for Filipinos and banks are necessary in order to make them work and make things function financially. We depend on banks so much. Have a sweet day, Fehl 🙂

    Cathy

    • It would be helpful to know the best banks to be banking with here in the Philippines. Those are commercial banks. Looking forward to post the other kinds of bank soon. 🙂 The top 4 have always been the top 4 for the past 3 years I think. Let’s see how things would change. Thank you for dropping by here honeybunny. 🙂

      • Hi Fhel…thanks for the posts. Personally, I still find bpi less expensive and more innovative. But im continuing to find other things among the top 3 banks to compare

        • BPI is ahead when it comes to service according to the poll here and the comments 🙂 Well kudos to BPI and keep up the great job!

    • Hi there! With BDO, long line, with Metrobank, cue card. With BDO, small loan interesr rate but it’s an add-on rate, with Metrobank Loan, annuity rate and no add on rate. With BDO, go home late. But in Metrobank, HAPPY people, HAPPY customer, Go home late. The center of our heart, is to give excellent and quality service:-)

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