Some of the most important lessons that parents can impart to their children are the values of thrift saving, discipline and perseverance. These values prepare their children to become the best persons that they can be when they grow up.

Starting your children on the road to saving is very easy with the PSBank Kiddie Savers and Teen Savers accounts. Your children can start saving with a small amount as these accounts do not require an initial deposit or maintaining balance.

Aside from enjoying the security and stability of banking with PSBank, your children are also protected through a free personal accident insurance from Charter Ping An Insurance Corporation. Your child could get insurance coverage equivalent to five times the value of his average daily balance.

The PSBank Kiddie Savers account is a savings account for children from 0 - 12 years old while the PSBank Teen Savers account is for teens 13 - 17 years old. The PSBank Kiddie Savers may be opened as an In-Trust-For (ITF) account, a joint account or an individual account for each of your children.



Minimum Maintaining Balance

No minimum maintaining balance required

Average Daily Balance to Earn Interest

PhP2,000

Evidence of Deposit

Passbook and ATM Card* (issued upon request)

Interest Rate (per annum)

Click here for the prevailing interest rates

Interest Crediting

Monthly

* ATM Card is not available for In-Trust-For (ITF) accounts

Higher insurance coverage as savings grow.

The PSBank Kiddie and Teen Savers Account come with a free personal accident insurance from Charter Ping An Insurance Corporation which is equivalent to five times (5x) the monthly average daily balance. This means that the child or teen is insured against accidental death or disability up to a maximum of PhP500,000 for those who are 0-7 years old and up to an aggregate limit of PhP5 million for those who are more than 7 years old but not more than 18 years old.  To claim the insurance, the account has to be active and should have a monthly average daily balance of at least PhP1,000 during the time of accident.

Saving is easy and affordable.

There’s no initial deposit or maintaining balance required.

Easy access to funds.

In case, you choose to open a Passbook and ATM, he/she can request for a PSBank Debit Mastercard and can use this to conveniently withdraw cash in any PSBank ATM nationwide or through BancNet and Mastercard ATMs.

Banking made easy.

Enroll in PSBank Online and PSBank Mobile, the Bank's secure and convenient electronic banking facilities, to be able to check your account balances and perform other banking transactions anytime, anywhere.

Service fee (accounts closed within 1 month from opening date)

PhP500 is charged if account was closed within one month from opening date.

ATM WITHDRAWAL / BALANCE INQUIRY FEES

ATMs Balance Inquiry Withdrawal Declined transactions*

PSBank

FREE

FREE

N/A

Metrobank

FREE

PhP7.50

N/A

BancNet-member Bank and ExpressNet

PhP1

PhP10

N/A

Mastercard (overseas)

US$1 per inquiry

US$3.50 per transaction

US$1.50 per transaction

* (insufficient funds and/or exceeds daily transaction frequency)

Withdrawal fee at any PSBank branch
  • up to PhP100,000 = PhP50 withdrawal fee
  • PhP100,001 and above = PhP100 withdrawal fee

Card replacement fee (for lost/stolen/demagnetized card)

PhP200 per card 

Request for account balance and transaction history
  • via PSBank branch/PSBank Online/PSBank Mobile
  • PhP100 for the 1st 3 pages, PhP 20 for every succeeding page
  • via ATM – FREE for the last 5 transactions
Inter-bank fund transfer (if source account)
  • via ATM - PhP25
  • via PSBank Mobile and PSBank Online
    • InstaPay - Waived (until further notice)
    • PESONet - Waived (until further notice)
  • via PSBank Mobile QR - Waived (until further notice)

Note: All aforesaid fees and charges will take effect immediately and may be cancelled or modified anytime at the Bank’s sole discretion without any prior notice.

  • Completely filled-out bank forms:
    • Customer Information Sheet (CIS) for Individual Clients
    • Signature Card

    • Signing Instructions and Acknowledgement of Receipt Form
      • Fully accomplished  Interbank Fund Transfer (IBFT) Enrollment form  if parents and guardians want to avail of automatic intra-bank fund transfer service
      • Quit Claim / Waiver signed by the parent or guardian (only for PSBank Kiddie Savers and Teen Savers Accounts with PSBank Debit Mastercard)

    • Additional requirements for legal guardians opening an ITF account:
      • Customer Information Sheet (CIS) for Beneficiaries and Beneficial Owners
      • A Court Order is required as proof of authority to open and operate an ITF account on behalf of the ward/s

    • Valid IDs
      • Parents / Legal Guardians:
        • At least (1) primary ID or (2) valid secondary IDs, one of which with photo and signature
      • Child/ren or Ward/s
        • Birth Certificate issued by the Philippine Statistics Authority (PSA) or Certified True Copy issued by the Local Civil Registrar
        • Passport or School ID (photo bearing duly signed by the principal or head of the school)

Note: Kids/teens from 7-17 years old should be accompanied by his parent(s) or legal guardian/s during account opening.

For more information:


 

* Deposits are insured by PDIC up to PhP500,000 per depositor.



PSBank Near You

Queue Anywhere

Get Queue No.

Forex

PH Peso - US Dollars

PhP {{buying}}

Today is October 30, 2020
Guiding Rate as of {{asOf | date: 'MM/dd/yy'}}
Rates

PSBank Online

Log in