Great news everyone! Now we can open UITF account online without going to the bank personally. PNB is the first bank in the Philippines to allow this convenient way of UITF eBanking.
In the past, investors were strictly required to appear in person to open UITF account, sign stuff, have assessment and so on. But now, everything is done online. Are you excited? Read this post because I’m sharing here how to open PNB UITF account online.
Many readers of Philpad asked about the possibility of UITF account opening online especially OFWs. I think this is the moment they’ve been waiting for. I’d like to give my kudos and cheers to PNB for making this online service possible. Geez if I could launch fireworks for that job well done, I would too 🙂
Apparently, other banks like BDO, BPI, Metrobank and others are into developing their UITF application online features too. I know BPI’s online banking system has been so convenient but they were not so vocal about their UITF online application feature yet.
With BDO, you can link and sync and enrol your existing UITF account online but you cannot yet open one online. I’m so glad PNB launched this feature because time is money.
Why I Choose PNB UITF?
I’ve been a fan of Trust Funds ever since and as an investor, I also want to diversify my portfolio and money. Earlier last year, Lucio Tan’s Allied Bank has acquired PNB and few months after that PNB launched their online UITF facility.
Looking at their funds’ performance and fact sheets, I decided to invest with them. I’m also impressed with their High Dividend Equity Fund which is new in their line of investment products. I know I have to join the wagon so I’m starting with their Prime Peso Money Market Fund and High Dividend UITF Equity Fund.
How to Open UITF Account Online in PNB?
- First you need to have a PNB Online Banking Personal account (aka eBanking). Sign up for one. This means, you must have an existing account with PNB. Doesn’t matter if it’s Savings account or Current Account, or ATM account or non-ATM account.
- Sign in to your PNB eBanking Personal account.
- On the left side of the page, select “UITF Investments” menu then click “Enroll Now”
- Read the UITF Online Service Agreement and make sure you understand it fully before selecting Agree.
- Answer the UITF Client Suitability Assessment. No worries, there is no right or wrong answer. Be honest with your answers to know what type of investor you are and how much you can take risk.
- Go on and read everything until you agree with the Client’s Conforme.
- Read and understand the Risk Disclosure Statement and tick the box if you read it already. Then select Agree.
- Your Nomination of Settlement Account page will be displayed. Choose which PNB account you wish to enroll then click Submit.
- Then you will receive an Acknowledgement message like this one below. Wait for an email from PNB confirming your UITF account approval.
- Wait for the approval email message from PNB regarding your UITF application. After that, you can Make a Direct Investment.
- Make a Direct Investment and choose the UITF type you want to open. Provide the amount you wish to invest.
- Confirm your investment by following the next procedures. PNB will email you once your COP (Confirmation of Participation) is ready. You can then view your Investment Portfolio online anytime to see your earnings.
Now you have started your investment. If you want to learn more about money investments, stocks, type of UITFs, and mutual funds, read our MONEY section.
“Don’t just work for money, let your money work for you.”
Disclaimer: I’m not affiliated with PNB. Everything shared in this article is based from personal experience. Likewise, every fund preference is based from personal financial goal. UITFs like other investments have risks. If you don’t know or you’re not sure what you’re doing, read and read and learn.
Have questions darlings? Feel free to leave your messages at the comment box. Happy investing!