Best Bank in the Philippines: Accounts, ATMs and Fees

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There are many local, regional and international banks available in the Philippines - which means that if you’re searching for the best bank in the Philippines for your specific needs you’ll have some homework to do. This guide is here to help. We’ll run through top banks for checking, and some deposit account details if you’re looking for the best bank for savings in the Philippines, too.

This bank comparison for the Philippines has a focus on more traditional banks which have a physical branch and ATM network, for people who prefer to have the option to bank face to face, and deposit or withdraw cash over the counter.

We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What is a traditional bank?

A traditional bank is a local, regional or international bank which has a branch network and dedicated ATMs in the Philippines. Traditional banks usually offer a full suite of services including accounts and cards, loans, investments, insurance and wealth management services.

As there’s a branch network you can get face to face service - but you can also usually manage most of your transactions online and using your mobile app if you’d prefer.

Traditional bank vs Digital bank

A digital bank doesn’t have physical branches. Instead, you manage your money online or through a mobile app, and use a card for everyday payments and ATM withdrawals.

If you travel often and need seamless access to your money when you’re away from the branch network, a digital bank might be a good pick. Similarly if you want the best bank for foreigners in the Philippines, digital banks can be a good pick as they’re often flexible to use and may offer great foreign currency services.

Traditional banks can be more helpful if you like to be able to talk through your requirements in person or if you need to make deposits and withdrawals in cash. Digital banks may not offer the full range of services that a traditional bank does - so you might also prefer a traditional bank for a loan, credit card, insurance or other more complex services.

This guide focuses on traditional banks with a physical branch network - but there’s also a guide to the best digital banks in the Philippines here.

What to consider when choosing a bank in the Philippines

• Branch and ATM network - if you need to bank in person make sure there are handy branches and ATMs close to your home or workplace
• Digital banking experience - for transactions on the move you’ll also want a provider which has an intuitive app and online service
• Fees and maintaining balance - make sure you won’t be caught out by ongoing fees, particularly fall below fees if you don’t intend to keep a large balance in your account
• Interest rates and savings options - compare your interest rate options as there are many different products with very varied features and earning opportunities
• International money transfers - if you remit money overseas, picking a provider with low costs and great exchange rates is essential
• Security and regulation - choose the safest bank in the Philippines for your needs by checking your provider is properly regulated and has good digital security features

Top banks in the Philippines

Here’s a summary of the top banks in the Philippines we’ll look at in this guide. Each bank selected offers a full range of services, including checking and deposit accounts, cards and overseas transfers. We’ve got a quick comparison of core features, followed by a bit more detail on each to help you choose.

*Details correct at time of research - 21st January 2026
**Checking account products

UnionBank

Great for: Award winning service with a focus on digital offerings alongside physical branch provisions

Core day-to-day account: Checking account in PHP, minimum balance of 10,000 PHP required
Best savings rate available: 0.1% for PHP easy access accounts
Debit card fees to consider: Out of network ATM use in Philippines 12 PHP, overseas ATM use 3 USD

BPI

Great for: One of the largest ATM networks in the Philippines, with plenty of branches to choose from

Core day-to-day account: Checking account in PHP, minimum balance of 10,000 PHP required
Best savings rate available: 0.125% (plus extra if you don’t withdraw) - Maxi-saver, 2 million PHP minimum required¹⁸
Debit card fees to consider: Overseas ATM use 3.5 USD or 1.75, whichever is higher + 1% forex markup

BDO

Great for: Largest branch network in the Philippines, ideal for face to face service

Core day-to-day account: Checking account in PHP, minimum balance of 5,000 PHP required
Best savings rate available: Check in branch - details not published
Debit card fees to consider: Overseas ATM withdrawal 3.5 USD, 2% foreign transaction fee

Security Bank

Great for: Newly launched and improved app to complement in branch and ATM services

Core day-to-day account: All Access Account - combined checking and savings with 25,000 PHP minimum balance requirement
Best savings rate available: 3.25%, Money Builder account - subject to meeting eligibility criteria¹⁹
Debit card fees to consider: Overseas ATM withdrawal 300 PHP

Metrobank

Great for: Good all rounder, with particular interest for savers and ultra high net worth individuals looking for wealth management

Core day-to-day account: Checking account in PHP, minimum balance of 10,000 PHP required
Best savings rate available: Regular easy access savings offer 0.0625% - other rates may be available on different currencies and term deposits
Debit card fees to consider: Overseas ATM withdrawal 3.5 USD

PNB

Great for: Potential to earn interest while maintaining access to funds, through easy access checking and deposit accounts

Core day-to-day account: Checking account in PHP, minimum balance of 10,000 PHP required
Best savings rate available: Top rate of 0.5% subject to meeting eligibility criteria - PNB Top Saver²⁰
Debit card fees to consider: Overseas ATM use 150 PHP, 3% foreign transaction fee

Hold 40+ currencies with Wise and save when you spend in 150+ countries with the Wise card

While Wise isn’t a traditional bank, it can be used alongside your Philippine bank to manage international money more easily.

The Wise account is an easy way to hold and exchange 40+ currencies, including PHP, USD, CNY, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.57% and absolutely no markups. Plus, you can order a Wise card for convenient spending at the same great rate, without any foreign transaction fees. At times you need cash, you can also make up to 2 free ATM withdrawals to the value of 12,000 PHP when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in PHP and a selection of other major global currencies.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

🚀 Get started with Wise