How to Open a Metrobank Fun Savers Club Account
Along with Banco de Oro (BDO) and Bank of the Philippine Islands (BPI), Metrobank is one of the top three banks in the Philippines. Metropolitan Bank and Trust Company have an exclusive savings account for kids and teens seven to eighteen years of age called the Fun Savers Club account. No matter how young they may be, opening this account can teach children a lot about frugality and money management. Remember, saving up for the future is important and they're never too young to learn about responsibility.
Requirements for Opening a Metro Fun Savers Account for Children
- Two (2) 1 x 1 recent ID pictures
- School I.D. (must have at least 2 photocopies)
- Birth Certificate Xerox Copy (bring along the original for verification purposes)
- Php500 for the initial deposit (and also the maintaining balance)
What's an In-Trust-For Account or ITF Account
Kids (even babies) below the minimum age requirement can still obtain a savings account of their own. This is the ITF account or In-Trust-For account. Parents/Guardians should bring the following:
- Original Birth Certificate of the baby/child
- 2 valid IDs of whoever is opening the account for the minor
- 1 x 1 picture of the parent/guardian
- 1 picture of the baby
Details About the Fun Savers Club Savings Account
- The minimum initial deposit is 500 pesos.
- The maintaining average daily balance is 500 pesos.
- The minimum ADB to earn interest is 4,000 pesos.
- You can have a free educational trust benefit worth 50,000 pesos for accounts reaching the minimum average daily balance (ADB) if something tragic happened to the parent/s.
- They offer a free personal accident insurance worth twice the ADB, not to exceed P1 million (with minimum ADB requirement).
- They offer exclusive discounts and privileges from partner establishments (mentioned below).
- Both peso or U.S. dollar savings accounts are eligible for enrollment.
Fun Savers Club Gift Check (FSC-GC)
The FSC GC is a special gift check intended to initially fund a new FSC Account or to add funds to an existing FSC account. It is an ideal birthday, baptismal, graduation, or Christmas gift for children below 18 years of age. This is the perfect gift alternative for any occasion.
The FSC GC can be purchased over-the-counter at any Metrobank branch for only P500.00.
- Minimum Amount: P500.00
- Eligible Purchasers: Depositors and non-depositors, individuals and corporations
- Beneficiaries: Individuals below 18 years of age
Benefits of a Metrobank Fun Account
- Easy to purchase. Relatives/non-relatives can do away with documentary requirements in account opening.
- It provides value-for-money gift alternative.
- It's an affordable gift.
- It's a gift that offers more than its cash value—freebies, discounts, insurance and educational benefits to club members.
- It's a lasting gift.
- This account ensures the customer that the gift is used as intended (that is, to encourage saving).
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.