How to Open a Bank Account in the Philippines as a Foreigner

Yes, you can open a bank account in the Philippines as a foreigner. What you can actually open, and how easily, depends on your visa and whether you hold an ACR I-Card yet. A tourist with only a passport has a much harder time at the counter than a 13a or SRRV holder with a lease in hand.

Quick answer

• Bring: your passport, your ACR I-Card or resident visa ID if you have one, proof of a Philippine address (lease or a bill in your name), and your initial deposit in cash.
• Tourist (9a) with passport only: some banks list a foreign passport as valid ID, but branches can and do decline. Expect to try more than one branch.
• ACR I-Card holder (9g, 13a) or SRRV: this is the easy path. Go to a branch in an expat-dense area like Makati or BGC.
• TIN: not on BPI's published foreigner ID list, but some branches may ask for one.
• Until the account opens: hold and convert your money in Wise, then send pesos to your new account number once you have it.

Once your ACR I-Card or resident visa paperwork is in hand, pick a branch in an expat-dense district and go in with the full document set. Until then, move money with Wise so nothing is waiting on the bank.

Get a Wise quote for the transfer into your peso account(affiliate link) Some links here earn a commission at no extra cost to you; see how recommendations work.

Opening a local account as a foreigner

Branch managers in the Philippines have real discretion. Each bank publishes a list of valid IDs, but the officer across the desk decides whether your application goes through. Your job is to arrive with more documents than they could possibly ask for.

Requirements by visa status

Where these come from: BPI's account-opening requirements say you can open a deposit account at any BPI branch with one valid ID. For foreign nationals, that list includes a PhilID or ePhilID for resident aliens, an ACR from the Bureau of Immigration, or a foreign passport. BDO's accounts FAQ says foreigners can apply online if they have a valid resident visa and a Philippine address, using a passport with English characters plus a second ID like the ACR I-Card. BDO may ask for more. Metrobank's account-opening page accepts foreign passports and the ACR or ICR. Security Bank's USD savings page lists ACR/ICR, passport and SRRV ID as primary IDs, and its general ID list includes TIN as a secondary ID. All of these were checked on 2026-10-16.

One more thing for tourists. The Bureau of Immigration says the ACR I-Card is for foreigners who have stayed more than 59 days, and that includes tourist visa holders. BI's ACR I-Card page says the application is submitted together with the application for a visa, so the card doesn't arrive by itself on day 60. It makes the bank visit much easier.

Which banks open accounts for foreigners

Four banks cover most of what a foreign newcomer needs. The real questions are whether they'll take your documents and whether you need pesos only or a dollar account too.

BDO Unibank has the largest branch and ATM network in the country. That matters if you'll live or travel outside Metro Manila. Many branches inside SM malls keep evening and weekend hours, which helps if you work. It's the only one of the four that publishes a clear foreigner rule: resident visa plus a Philippine address. That's strict for tourists, but if you have a 9g, 13a or SRRV, you know where you stand. BDO doesn't publish minimum deposits for its peso products on the pages we could check, so ask the branch.

BPI has the most foreigner-friendly published list. One valid ID, and a foreign passport is on it. That doesn't mean every branch will open an account for a tourist with only a passport, but BPI is the best bank to try first if you don't have an ACR I-Card yet. Its mobile app is also one of the better ones among the older banks.

Metrobank is the one to look at if you want to hold foreign currency. It offers accounts in USD, CAD, CNY, JPY, GBP, EUR, CHF, AUD and SGD, though availability depends on the branch. To open, you visit a branch with one valid photo ID that has your signature, fill in a Customer Information Form, and bring the initial deposit for the account you picked. Metrobank points you to the product list and the branch for deposit amounts, so confirm them there.

Security Bank is strong in the main business districts like Makati and BGC, and branch staff there are used to foreign paperwork. Its USD savings account has a published opening and maintaining balance of USD 500. Security Bank's online account-opening form is currently for Filipino citizens residing in the Philippines. Security Bank's help page encourages non-Filipino citizens to go to the nearest branch. The bank also says it may decline or ask for more ID after your interview.

If you're thinking about UnionBank, ask the branch for its deposit-account checklist before you go.

Step-by-step: at the branch

1. Pick the right branch. Go to a branch in an area with lots of foreign residents: Legaspi Village or Salcedo Village in Makati, or Bonifacio Global City. Staff there see foreign passports every day and are less likely to send you away.
2. Pick the product before you go. Look at the bank's product page for the account you want (peso savings, peso checking, or USD savings). Note the initial deposit and maintaining balance if they're published. If they aren't, call or ask the branch. Don't guess.
3. Pack the full document set. Passport. ACR I-Card or SRRV ID if you have one. Your signed lease or a utility bill with your Philippine address. Your TIN if you have one. Two passport photos and your home-country tax ID number are worth bringing too. Some branches ask for more than the official list.
4. Sort out proof of address. No lease yet? Ask the branch what they'll accept before you get there. A signed lease is the strongest proof. If you're still in a short stay, the cleanest fix is to sign a lease first and open the account after.
5. Bring the initial deposit in cash. Metrobank's page, for example, says to bring the initial deposit when you open. Bring pesos for a peso account and dollars for a USD account.
6. Fill in the forms and do the interview. You'll fill in a customer information form and answer some questions about where your money comes from and why you're in the country. Answer truthfully and keep your documents handy.
7. Ask what happens next. Before you leave, ask when your ATM card and online banking will be ready, and whether you need to come back for anything.

If you're refused

A refusal is usually about a missing document, not about you. Here's what tends to work:

• Ask exactly what's missing. Write it down. Usually it's an ACR I-Card, proof of address, or a resident visa.
• Try another branch. Discretion goes both ways. If one branch says no, a branch down the street in the same district may say yes.
• Try BPI if BDO refused you. BDO's published foreigner rule needs a resident visa. BPI's list accepts a foreign passport.
• Get your ACR I-Card. It's applied for together with a visa application, and it fixes most refusals.
• Bridge with Wise and an e-wallet. Keep your money in Wise and spend through GCash or Maya until you can get an account. Plenty of newcomers live this way for their first month or two.

TIN and ACR I-Card

The ACR I-Card is a microchipped ID from the Bureau of Immigration for registered foreigners who have stayed more than 59 days. That includes immigrant and non-immigrant visa holders, plus tourists who extend past 59 days. Long-stay paths like the 13a marriage visa and the SRRV retirement visa come with one. BI posts fees on its ACR I-Card issuance page. BI's ACR I-Card page still shows a fee table dated March 2014, so confirm the current amount at BI before you pay.

A TIN (Tax Identification Number) is not on BPI's published foreigner ID list for opening a deposit account. Some branches may still ask for one, and Security Bank's general ID list includes TIN as a secondary ID (a passport or ACR I-Card is the primary ID it asks foreigners for). You'll also need a TIN for some government transactions and for work. If a branch asks, or you need one for work or a government transaction, apply at the BIR Revenue District Office for your address using Form 1904 (the E.O. 98 registration for people who need a TIN to deal with government offices).

Moving money in before (and after) your account opens

You don't have to wait for the bank to get money into the country. Open and verify a Wise account while you're still at home. Hold your home currency there, convert when the rate suits you, and send pesos to your new Philippine account as soon as you have the account number.

Wise shows its exchange rate and fee before you send; compare the total you receive. The fee depends on how you pay for the transfer and where you're sending from. Paying from a Wise balance or by direct debit usually costs less than paying by card, so check the live quote for your route. On 2026-10-16, Wise showed a rate of about 1 USD = 62.98 PHP. Rates change all day, so check the live quote before you send.

On speed, Wise's Philippines page says 77% of transfers arrive in under 20 seconds and 95% arrive in less than a day (checked 2026-10-16).

For bigger transfers, property money, or a full comparison against bank wires and other providers, compare transfer costs.

GCash and Maya

Phone wallets are how you'll pay for groceries, rides and small shops, and you can link them to your bank account once it's open. Full GCash verification for foreign residents needs an approved ID like the ACR I-Card or SRRV rather than a passport alone, so see our GCash guide for foreigners for the details.

Renting long-term is where a local account really pays off. Landlords usually want deposits and advance rent in pesos, and many ask for post-dated checks for the rest of the lease, which means a peso checking account. The housing guide covers the usual deposit terms.

Frank's Take

I've had a BDO account for years, and my advice is the same every time: don't go to a bank your first week. Get your ACR I-Card or resident visa sorted first, sign a lease, then go in with everything in one folder. Passport, ACR I-Card, lease, TIN if you have it, a couple of passport photos, and cash for the deposit. Overprepare, because the officer decides.

Go to a branch in Makati or BGC. Legaspi Village, Salcedo Village and the BGC branches see foreigners all day, and that makes a real difference to how the conversation goes.

BDO or BPI? Pick BDO if you'll travel or live outside Metro Manila. The branch and ATM network is huge and the mall branches keep useful hours. The app isn't its strength, but having a branch everywhere makes up for it. Pick BPI if you'll live in the city and want to do most things on your phone. BPI is also the one I'd try first without an ACR I-Card, because its published list accepts a foreign passport. If you want to hold dollars, add a Metrobank or Security Bank USD account next to your peso account.

Until the account opens, and for regular living money after that, I use Wise. Get a Wise quote for most transfers(affiliate link).

FAQ

Do I need a Philippine bank account before I arrive?

No, and as a foreigner you usually can't open one from abroad anyway. BDO's online opening for foreigners needs a resident visa and a Philippine address, and Security Bank's online account-opening form is currently for Filipino citizens residing in the Philippines. Set up Wise before you leave, use your home card for the first few weeks, and open a local account once your paperwork is done.

Can I open a bank account on a tourist visa?

Sometimes. BPI and Metrobank list a foreign passport as valid ID, and Security Bank accepts a passport for non-resident aliens on its USD savings page. Branches still decide, and many turn away tourists who don't have an ACR I-Card or a lease. BDO's published foreigner rule needs a resident visa. If you're refused, try another branch in Makati or BGC, or get your ACR I-Card first.

Can I open a USD account as a foreigner?

Yes. Metrobank offers USD and several other foreign currency accounts, depending on the branch. Security Bank's USD savings account has a published opening and maintaining balance of USD 500, and foreigners are encouraged to open it at a branch. The same ID rules as peso accounts apply, so bring your passport and ACR I-Card or SRRV ID.

Do I need a TIN to open an account?

Not always. A TIN is not on BPI's published ID list for foreigners. Some branches may ask anyway, and Security Bank's general ID list includes TIN as a secondary ID (a passport or ACR I-Card is the primary ID it asks foreigners for). If a branch asks, or you need one for work or a government transaction, apply at the BIR Revenue District Office for your address using Form 1904 (the E.O. 98 registration for people who need a TIN to deal with government offices).

What fees will I pay using my foreign card at a Philippine ATM?

Usually two: a fee from the ATM owner, which shows on screen before you confirm, and whatever your home bank charges for foreign withdrawals and currency conversion. BDO lists PHP 250 per withdrawal for cards issued overseas, and Metrobank lists a PHP 250 access fee. Other banks and independent ATMs vary, and BPI doesn't publish a flat figure. Per-withdrawal limits are often PHP 10,000 to PHP 25,000 depending on the bank (Metrobank lists PHP 10,000 for non-Metrobank cards; BDO lists PHP 25,000), so large amounts may take several withdrawals. Always decline the on-screen currency conversion offer and let your home bank do the conversion. (Fees checked October 2026.)