It was a Wednesday afternoon when I decided to open a US Dollar account in BDO because of the needed US bank draft or demand letter for NCLEX RN examination application fee.
To open a regular US Dollar account, bring USD500, the minimum requirement and minimum balance requirement to earn interest and bring two valid governments IDs.
BDO does not allow to sell US dollars to clients who will open USD account with them nor convert certain amount from your peso account to US dollars.
If you don’t have US dollars with you, go to a legit money changer with low selling rates so you can buy your USD. At that time, Western Union offered a lower selling rate compared to other money changers. Take a receipt from the money changer with USD serial numbers written on it and have a copy. BDO teller took my copy of serial numbers of my USD100 bills.
Sign the application forms including FATCA form. Have your digital photo taken in the branch.
Finally, receive you passbook and atm card from the teller.
US bank draft or demand letter will be processed only after 7 days clearance from day of USD account opening.
Note: Not sponsored by BDO or Western Union.