CTBC Bank business bank accounts for june 2023

CTBC Bank business bank accounts provide company owners with various digital alternatives. You may establish your company with the bank, transfer funds, deposit checks, pay bills, and so on, using your phone or a personal computer, at any time and from any location.

Types of CTBC Bank business accounts

Below are the types of CTBC Bank business bank accounts:

• Peso checking accounts. This is a business checking account that earns interest on a regular basis. This checking account includes a CTBC Bank Visa debit and ATM card, checkbook, record book, and Internet banking access through NetBanking Facility and BancNet Online. A corporate depositor requires a ₱25,000 initial deposit. When the deposit reaches ₱100,000 for corporate accounts, the account will earn 0.125% gross p.a.
• Ultimate earner checking accounts. This is a higher-yielding checking account that offers clients to receive tiered time deposit rates based on their ADB and number of withdrawals. The ultimate checking account is appropriate for clients seeking an investment or disbursement account. It includes a CTBC Bank Visa debit and ATM card, checkbook, record book, and internet banking access via NetBanking Facility and BancNet online.
• Business dollar savings accounts. This is a typical savings account in dollars for business payroll accounts. The account earns 0.10% gross per year. With a minimum deposit of merely $500. It also includes a log book for convenient tracking.
• Dollar business time deposit. This is a dollar-denominated regular time deposit that earns a greater interest rate than a regular savings account but is only maintained for a certain period or until maturity. This account can give returns with a minimum investment of merely $1,000 for company owners looking to save money. The placement period lasts 30 days. Tiered charges are also for placements lasting 60, 90, 180, and 360 days.\
• Peso business time deposit. This is a peso-denominated business time deposit account (also known as a certificate of deposit or term deposit) that earns a greater interest rate than a standard savings account but is only maintained for a certain period or until maturity. Individuals who wish to preserve money or organizations with surplus assets for investment can create a time deposit account for as little as ₱1,000. The minimum duration of placement is 30 days. Tiered charges are also for placements lasting 60, 90, 180, and 360 days.

How to apply for a CTBC Bank business account?

You can only apply for a business account in person. You must be certain that you meet all eligibility requirements and have the relevant paperwork on hand. Please, take it to your nearest CTBC Bank branch, then talk with a customer service agent and explain that you are there to apply for a business bank account.

Requirements for a CTBC Bank savings account

To be eligible for a CTBC Bank business account, you must meet all eligibility requirements and have all the necessary documentation. They are given below:

For single proprietorship

• Must have two valid identification cards that have a proprietor or any authorized signatory/
• Must have a signature card.
• Must possess the account opening form (AOF), which you can obtain in the bank.
• Must possess a certificate of registration of business name with the department of the Philippines trade and industry.
• Must possess a mayor's permit.
• Must possess the application for registration of business name with the department of the Philippines trade and industry (in case the certificate of registration is not yet given).
• Must possess the current and notarized special power of attorney if another person (i.e., other than the proprietor) is authorized to run the business or sign on behalf of the business.

For partnership

• Must have two valid Identification cards.
• Must have a signature card.
• Must possess the account opening form (AOF), which can be obtained in the bank.
• Must possess the articles of co-partnership.
• Must have the certificate of registration of the articles of partnership with the Philippines Securities and Exchange Commission (SEC).
• Must have the partnership’s resolution of authorized signatories.

For corporation

• Must have two valid government-issued identification cards of all authorized signatories.
• Must have a signature card.
• Must have an account opening form (AOF), which must be gotten from a CTBC Bank branch.
• Must have the certificate of registration from the Philippines securities and exchange commission (SEC).
• Must possess the latest general information sheet.
• Must have their articles of incorporation.
• Must also possess the by-laws.

• Must have the board resolution(s), which must include the notarized secretary's certification indicating the following:

  • The authority to open an account or conduct business with any bank.

  • Election of officers for the current work year

  • Limits and combinations of officers permitted to sign cheques and other instruments

Pros and cons of CTBC Bank business accounts

Below are some pros and cons of CTBC Bank business accounts.

Pros

• There isn't much required to open an account.
• The account can be operated using the mobile app for ease of access.

Cons

• The application is only made offline.
• There are not too many business accounts to choose from.