Continue building your savings goals with the bank that you can trust. Start opening a deposit account with PNB New York and grow your money to reach your goals on time.
Type of Accounts
| PNB Savings |
| Opening Balance Requirement | $500 |
| Minimum Maintaining Balance Requirement | $500 |
| Minimum Balance to Earn Interest | $1,000 |
| Interest Rate | 0.10% |
| Instrument | Notice Letter |
| PNB Checking |
| Opening Balance Requirement | $1,000 |
| Minimum Maintaining Balance Requirement | $1,000 |
| Minimum Balance to Earn Interest | None |
| Interest Rate | None |
| Instrument | Checkbook |
| PNB Time Deposit |
| Opening Balance Requirement | $1,000 |
| Minimum Maintaining Balance Requirement | $1,000 |
| Minimum Balance to Earn Interest | None |
| Interest Rate | 0.25% |
| Instrument | Certificate |
What you need to open a Deposit Account
- For Individual Account:
- Completely filled-out Account Information Form
- 2 copies of Signature Card
- W-9 form (Request for Taxpayer Identification Number and Certification)
- W-8 form (Certificate of Foreign Status)
- 2 clear photocopies of your valid IDs
- For Non-Individual U.S. Person Account
- Completely filled-out Account Information Form*
- 2 copies of Signature Card*
- W-9 form (Request for Taxpayer Identification Number and Certification) or W-8 form (Certificate of Foreign Status)
- 2 clear photocopies of your valid IDs
- Notarized Certified True Copy of Articles of Incorporation/Partnership/Association and By Laws
- Original Secretary’s Certificate of covering Board Resolution authorizing the opening of account with Philippine National Bank – New York Branch indicating authorized signatories
- Notarized Certified True Copy of Business License, if applicable
- For Non-Individual Non U.S. Person Account
- Completely filled-out Account Information Form*
- 2 copies of Signature Card*
- W-8 BEN form – Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding
- 2 clear photocopies of your valid IDs
- Notarized Certified True Copy of Articles of Incorporation/Partnership/Association and By Laws
- Secretary’s Certificate of covering Board Resolution authorizing the opening of account
- For Embassy/Consulates
- Completely filled-out Account Information Form*
- 2 copies of Signature Card*
- W-8 EXP Form – Certificate of Foreign Government or other Foreign Organization for United States Tax Withholding
- Certified list of Embassies/Consular Offices issued by an authorized officer of the Department of Foreign Affairs (DFA – Philippines)
- Certification Issued by the DFA – Philippines authorizing the Embassy/Consular Office to open and maintain a deposit account with PNB New York
- Copies of Appointment Papers of the authorized signatories, duly authenticated by the Head of the Embassy/Consular Officer or other authorized officer
- Copy of unexpired Philippine Driver’s License with photo and duly authenticated by the Head of the Embassy/Consular Officer or other authorized officer
How to open a Deposit Account
- Complete your requirements
- Go to PNB New York branch to process your application.
- Open your account.
Fees and Charges
| PNB Savings Account | |
| Balance below the required minimum maintaining balance | $8 per month |
| Dormant Account | $8 per month |
| Return of Check Deposited to Account | $10 per check |
| Request for Certification of Deposit Account Balance/s | $10 |
| Request for Interim Statement of Account | $5 |
| Request for Bank Statement | $20 |
| Investigation Charge (simple) | $20 |
| Investigation Charge (complex) | $40 |
| PNB Checking Account | |
| Request for Stop Payment Order | $10 per check |
| Dormant Account | $10 per month |
| Request for Certification of Deposit Account Balance/s | $10 |
| Request for Check Certification Charge | $5 |
| Purchase of Emergency Check | $1 per check |
| Request for copies of checks | $10 |
| Return of Insufficiently Funded Check | $15 per check |
| Return of Check with SPO | $15 |
| Post Dated Check | $15 |
| Return of Check deposited to account | $10 per check |
| Below Minimum Maintaining Balance | $10 per month |
| Request for Interim Statement of Account | $5 |
| Request for Bank Statement | $20 |
| Checkbook Charge (depends on number and style of checks ordered) | $25 |
| Investigation Charge (simple) | $20 |
| Investigation Charge (complex) | $40 |
| PNB Time Deposit | |
| Request for Certification of Deposit Account Balance/s | $10 |
Frequently Asked Questions
| 1. What will happen to my account if there is no deposit or withdrawal for a certain period? |
Inactive accounts will become dormant if there is no deposit or withdrawal transactions within a period of time.
| PNB Savings Account | 2 years from initial date of inactivity | |
| PNB Checking Account | 1 year from initial date of inactivity | |
| PNB Time Deposit | 6 months after maturity date of the deposit | |
| 2. Can I enroll my passbook account in the PNB Digital Banking App? |
No.
| 3. Is there a maximum withdrawal required per transaction? |
None.
| 4. Is my account FDIC insured? |
No.
| 5. Where can I find the Account Information Form and Signature Card? |
You can fill these out once you visit the branch to open an account.
Alright, let's dive into the intricacies of the PNB New York deposit accounts. First off, it's crucial to understand the types of accounts they offer: PNB Savings, PNB Checking, and PNB Time Deposit. Each comes with its own set of requirements and features.
Starting with PNB Savings, you'll need a minimum opening balance of $500 and maintaining the same amount to avoid charges. To earn interest, you should maintain a minimum balance of $1,000, with an interest rate of 0.10%. The instrument associated with this account is the Notice Letter.
Moving on to PNB Checking, the opening balance and maintaining balance requirements are both set at $1,000. This account doesn't offer interest, and its instrument is the Checkbook.
For those looking into PNB Time Deposit, the opening and maintaining balance requirements match those of the Checking account, standing at $1,000. However, to earn interest, there's no minimum balance requirement, and the interest rate is 0.25%. The instrument tied to this account is the Certificate.
Now, let's discuss the documentation required to open these accounts. For an individual account, you'll need a filled-out Account Information Form, two copies of the Signature Card, W-9 form, and clear photocopies of valid IDs. Non-individual accounts have additional requirements, including notarized certified true copies of relevant documents.
Fees and charges are part of the deal. PNB Savings Account holders with balances below the required minimum maintaining balance will be charged $8 per month. Dormant accounts and other services also incur charges, so it's essential to be aware of these.
As for frequently asked questions, account inactivity can lead to dormancy, with specific time frames for each account type. PNB doesn't offer FDIC insurance, and you can't enroll passbook accounts in the PNB Digital Banking App. There's no maximum withdrawal per transaction, and you can find the Account Information Form and Signature Card at the branch when opening an account.
So, if you're considering building your savings goals, PNB New York might be a trustworthy partner. Just make sure you're well-versed in the details and requirements before taking the plunge.
