How To Open A BDO Junior Savers Account For Your Kids + Deposit Their Cash Instantly Via BDO Online Banking

And Christmas is done just like that! It was a tiring day yesterday as my kids go to their godmothers and godfathers. They received a lot of gifts which we are grateful for as well as cash. If it's just me, I prefer cash instead of things as gifts. But don't get me wrong, my kids already have a lot of toys and clothes so I don't really want them to be spoiled with a lot of things which is overwhelming. That is why I would like to talk about opening a bank account for your kids as early as they are born. When my kids' godparents can't come to our house (we live on the East side which most of their grandparents think its too far), I always gave an option to deposit any amount (if they want to) on their bank accounts. It is hassle-free, plus you can also do an online transaction if you have the same bank.

How To Open A BDO Junior Savers Account For Your Kids

There are a lot of banks that offer opening a bank account for your kids. Always do your research. I prefer mine at BDO because I have a BDO Savings account which will help me deposit money thru online. I will tell you more about it at the end of this post.

Here are the requirements:

1. Php100.00 pesos.
2. NSO Certified True Copy of Birth Certificate of your child.
3. 2 Valid Government ids of parents or guardians.
4. 1x1 picture.

Step by Step:

1. Go to your nearest BDO branch.
2. Present the requirements listed above. Some branch doesn't require an ID picture as they can get your picture at the branch. Be sure to have the photocopy of the original requirements but they can also do it for you.
3. Fill up forms.
4. Deposit the initial Php100.00 pesos.

5. Get the BDO Junior Savers passbook and check if all information is correct. 

For other inquiries on how to open a BDO Junior Savers account, check BDO's website for more information.

That is so easy! We parents will not have reasons anymore on why our kids can't save their money. As Christmas has passed by, this is the great time to open an account for them so they can start saving money. As early as 3 months old, I had opened my kids' account from BDO because I have my personal account from them. This way, it's more convenient for me to deposit via BDO online app. Online banking is so helpful in the event of holidays like Christmas. You don't have to go line up in a bank (in most cases banks are closed during holidays) and it is one click away if you want to deposit the kids' aguinaldos. In that way I don't have to worry spending their gifts.

Here's a simple step by step on how you can deposit account via BDO online banking:

1. Enroll in BDO online banking.
2. Once done, download the BDO app and log in.

3. Click on 'Send Money'.
4. Click on 'To Any BDO Account'. You also have the option to enroll the accounts so you don't have to type in the account numbers all over again.

5. Click on the account where you'll get the funds from. Fill up the amount and type in the destination account number. Remarks is optional. Click on 'Continue'.
6. Confirm that all the details are correct, double check the account numbers.

7. Wait for the successful confirmation and an email confirmation.

And because I don't have an online access to my kids' account, I still need to go over the counter to check if the money was deposited successfully thru their accounts. This is the only disadvantage that I have from them. Anyway, updating their passbook is a breeze so I always make sure that I had the screenshots of the confirmation and the email. 

Another tip, if you don't have a BDO account, go to the nearest BDO branch and make a cardless transaction. It's like an atm machine where you'll  deposit money instead of withdrawing. Just be sure to have the account number with you. And the money will go thru real time.

I hope you find this article helpful and I hope to share with you soon on how you can make your kids' money grow by applying into investments from Banks or Mutual Funds. Join me as this is another money goal that I am trying to achieve this 2018!

Again, Merry Christmas! And don't forget to make sense in every Christmas peso gifts you received!

Disclaimer: I am not in any way paid by BDO to make this post. How I wish! :)