I have my savings account which is Metrobank. I went to the branch of the bank in the city and enrolled my account for online banking. A bank employee will help you process because you have to fill-up some papers. For inquiries, it is better that you should ask them over the phone.I opened for an individual account and here are the basic requirements:1. Minimum cash/check deposit payable to CitisecOnline.com Inc. for the following accounts:
• Regular Accounts - Php 25,000; and
• Easy Investment Program Accounts - Php 5,000.2. Photocopy of one (1) identity document issued by the Philippine Government e.g. passport, driver’s license, SSS/GSIS ID, Professional Regulation Commission (PRC) ID, and Comelec Voter’s ID. (Please present original for verification)3. Two (2) copies of Specimen Signature Cards; and4. Online Securities Trading Agreement duly signed.
I guess it was a week that I was able to log-in for online banking. I deposited money on my savings account so that I could fund my CitisecOnline in just one click.
These are the three banks that you could transact CitisecOnline in front of your computer with internet connection. You have to enroll your account first for online banking.
- Metrobank
- Bank of the Philippine Islands
- Banco de Oro
I invested my extra money there for it to grow for at least 3 to 5 years. Although some people are doing Cost Averaging Method (a blog post from Ready To Be Rich) which is:
As of the moment, I am not doing this method. I just put it there, log-in at CitisecOnline and monitor, then I'll just invest if I have another extra money. But doing this method is very nice especially when you religiously invest every month.What is Cost Averaging?Cost averaging is an investment strategy which requires systematically purchasing securities at predetermined intervals and set limits over a long period of time.
Investing in the stock market is very risk which is high. Take note that I use my extra money to invest.
So have you invested in the stock market?
Nice to see you're investing in the stock market!
ReplyDeletehehe yes. i just put my extra money there so that I could not spend it. sad to say i can't invest every month but i will try when budget permits. daming binabayaran pa eh. hehe
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ReplyDeleteHi,
ReplyDeleteI have a mutual fund at FAMI and I am thinking of opening also an account on CITISEC to start investing na in stock market but I have some questions though if it's fine.
When you open a savings account in Metrobank did they require you to submit a TIN? And when funding CITISEC, is it necessary that your application will be approve first before you could fund it (PHP 5000)?
Thanks
Angelie
http://angelierosegabijan.com/
Hi Jingjing,
Deleteabout the TIN, I submitted mine since I got it when I started working. But as long as you have met the basic requirements you can find here, you can open a Metrobank account.
For Citiseconline, I sent my requirements through LBC from Cebu to Manila. It is needed to approve your application first before funding the account. But if you are living near the COL Office, you can deposit the amount of your choice (starting at 5k) to COL Bank account #s. Just bring your deposit slip together with the other requirements.
:)