20 February 2019
OFBank is now also offering a Regular Current Account to its clients. This is a non-interest bearing peso account, also known as “Checking or Demand Deposit” account, wherein deposits are made over-the-counter and withdrawals are made through the issuance of a check. The required minimum deposit is ₱5,000.00 for individual and ₱10,000.00 for corporate or institution.
The product is being offered to individuals who are existing depositors of good standing and new depositors with referral from OFBank or LANDBANK officers or from known and valued clients of the bank. It is also offered to institutional clients such as Government Line Agencies, Government-Owned and -Controlled Corporations (GOCCs), and Local Government Units (LGUs) and reputable private corporations, cooperatives, partnerships and associations.
A Personal Checkbook (Booklet of 50 pcs.) can be requested for a fee of ₱300.00 while Commercial Checkbook (Booklet of 100 pcs.) is at ₱600.00.
For individuals, the Bank Officer conducts interview to explain the product and the basic requirement is at least two (valid) identification documents and two (2) most recent ID photos while institutional, the authorized representative shall present valid and latest corporate documents.