• 10 Best Debit Cards for Students in the Philippines 2022 | BPI, RCBC, and More 1
  • 10 Best Debit Cards for Students in the Philippines 2022 | BPI, RCBC, and More 2
  • 10 Best Debit Cards for Students in the Philippines 2022 | BPI, RCBC, and More 3
  • 10 Best Debit Cards for Students in the Philippines 2022 | BPI, RCBC, and More 4
  • 10 Best Debit Cards for Students in the Philippines 2022 | BPI, RCBC, and More 5

10 Best Debit Cards for Students in the Philippines 2022 | BPI, RCBC, and More

Giving debit cards to students help them learn how to properly budget their allowances. This is helpful, especially for those living on campus and away from their homes. It is a more secure and convenient way of paying for goods and services because it eliminates the need to carry cash. However, should the need arise, it can also be used to withdraw cash from ATMs.


Spend wiser and save more this school year by getting a debit card of your own! If you don’t know which one to get, or if you’re a parent looking to get one for your child, just keep reading because we made a guide on how to select one that best fit your needs as a student as well as a list of the 10 best debit cards you can choose from. 

This article's contributors

Editorial Team
  • Last updated: 11-07-2022
Table of Contents

How to Choose a Debit Card for Students - Buying Guide

Here are some points to consider:


  1. Know the requirements needed to get a debit card.
  2. Choose a bank that has accessible branches and ATMs.
  3. Check the bank’s online banking platform.
  4. Take note of transaction fees and penalties.
  5. Keep an eye out for extra features and rewards.

For more detailed information, read through our buying guide below.

Know the Requirements Needed to Get a Debit Card

Know the Requirements Needed to Get a Debit Card

Compared to credit cards, debit cards are easier to obtain for students. The process is very straightforward; you just need to open a deposit account at your preferred bank. Most banks will ask you to bring valid IDs, the minimum initial deposit amount, and fill out the necessary forms. There’s no need to think about credit scores and history.


It's also best for students who are not of legal age yet to be accompanied by a parent or guardian during the application, so they can be guided accordingly. Once you get your debit card, be mindful of the maintaining balance required to keep your account up and running, as well as average daily balances (ADB) to prevent incurring penalties. 

Choose a Bank That Has Accessible Branches and ATMs

Choose a Bank That Has Accessible Branches and ATMs

Even though your debit card allows cashless payment transactions, there will still be instances where you’ll need to have cash on hand. Given that not all establishments and vendors accept this mode of payment yet, having an ATM nearby is very convenient. Having a branch of your preferred bank near your school or dormitory is also helpful when you experience troubles with your account and need assistance.


Since most students get their allowances from their parents, you might also want to check if your preferred bank has a branch and ATM in their area before you apply for a debit card. This is especially beneficial in times of emergency and for your convenience as well.

Check the Bank’s Online Banking Platform

Check the Bank’s Online Banking Platform

Nothing compares to the ease-of-use that online banking provides, especially if your bank has an efficient platform for its online services. Through this, you’ll be able to check your current balance, send money to other banks, and change your card security settings without having to use an ATM.

 
With just a few clicks, online banking applications and/or websites can also help you track your expenses and access your transaction history. This is an effective way to keep an eye on your spending habits and determine where your money usually goes. In turn, you’ll know whether you need to save more or if you have some room to spare for a little splurge.

Take Note of Transaction Fees and Penalties

Take Note of Transaction Fees and Penalties

When applying for a debit card, make it a point to thoroughly research the bank's transaction fees, service fees, and penalties. Usually, this information is indicated on the bank's website, but it's much better to call your preferred bank to inquire directly should you have further questions.


Doing so will save you from wondering where your money went and incurring additional charges, for example, when you go below the maintaining balance of your account. Balance inquiries and withdrawals made through ATMs, as well as interbank money transfers through online banking, are just some services that charge transaction fees. 

Keep an Eye Out for Extra Features and Rewards

Keep an Eye Out for Extra Features and Rewards

Aside from being a safer and more convenient way to manage and access their allowances, a debit card provides many other advantages for students and their parents as well.


  • Parents and their children, especially those who are still minors, can collaborate in supervising their spending habits through parental controls, spending alerts, and merchant blocking features of some debit cards.

  • Having a savings account with a debit card can help money grow over time due to interest rates that vary from bank to bank. Take note, however, that there is a required minimum balance required for the money in your account to gain interest.

  • With a debit card, you can be eligible for perks and rewards from your bank. These include getting cashbacks on your purchases, special discounts in restaurants and hotels, and exclusive in-store deals that can help you save more.

Compare the Best Debit Cards for Students

To give you a rundown, here are our top 5 picks for the best debit cards for students:


  1. Best parental features: BPI Jumpstart Savings Account
  2. Best in value for money: RCBC GoSavers
  3. Best interest rates: Sterling Bank of Asia Neo Savings Account
  4. Best perks: PNB MyFirst Savings Account
  5. Best for college students: UnionBank Personal Savings
Image
1
Bank of the Philippine Islands (BPI) Jumpstart Savings Account  1

Bank of the Philippine Islands (BPI)

2
Rizal Commercial Banking Corporation (RCBC) GoSavers 1

Rizal Commercial Banking Corporation (RCBC)

3
Sterling Bank of Asia Neo Savings Account 1

Sterling Bank of Asia

4
Philippine National Bank (PNB) MyFirst Savings Account 1

Philippine National Bank (PNB)

5
UnionBank of the Philippines Personal Savings Account 1

UnionBank of the Philippines

6
Security Bank  Junior One Savings Account 1

Security Bank

7
Banco De Oro (BDO) Power Teens Club 1

Banco De Oro (BDO)

8
Metrobank  Sparks Savings Account 1

Metrobank

9
Philippine Savings Bank (PSBank) Teen Savings 1

Philippine Savings Bank (PSBank)

10
Robinsons Bank  Simplé Savings 1

Robinsons Bank

Name

Jumpstart Savings Account

GoSavers

Neo Savings Account

MyFirst Savings Account

Personal Savings Account

Junior One Savings Account

Power Teens Club

Sparks Savings Account

Teen Savings

Simplé Savings

Features

With Special Features to Help Your Child Save Money Safely and Easily

Enjoy the Perks of the MyDebit ATM Card

Requires Low Minimum Deposit and No Maintaining Balance to Open

Earn Points With the PNB-PAL Mabuhay Miles Debit Mastercard

Comes With a Visa EMV Debit Card

Grow Your Child's Money With Higher Than Usual Interest Rates

Ideal Savings Account for High School Students

For Young Filipinos Who Want to Start Saving Early

Provides Free Personal Accident Insurance for Your Children

Beginner-Friendly Savings Account With Zero Maintaining Balance

Age10 to 17 Years Old0 to 21 Years Old19 Years Old and Below7 to 19 Years Old18 Years Old and Above7 to 18 Years Old13 to 19 Years Old7 to 21 Years OldKiddie - 0 to 12 Years Old, Teens - 13 to 17 Years Old18 Years Old and Above
RequirementsProof of Billing, Government ID of Parent/Guardian, Account Holder's Birth Certificate, School ID, 2 1x1 ID Photo, Initial Deposit (Php 100)Filled Out RCBC Account Opening Forms, Identification Documents1 Valid Photo-Bearing Government ID 1 Valid ID, Fully Accomplished Forms, Valid Enrollment/Registration Form of the Current School YearUnionBank Account (Can Be Opened Online), Valid ID1 Primary Valid ID or 2 Secondary Valid IDs, Initial Deposit (Php 100)2 Valid IDs, School Registration and ID, 2 1x1 Photos1 Valid, Photo-Bearing ID With SignatureFilled Out Bank Forms, Valid IDFilled Out Form, Valid ID (Can Also Apply Online Through the RBank Sign-Up App)
Minimum Initial DepositPhp 100Php 100Any AmountNoneNonePhp 100Php 2000NoneNonePhp 100
Maintaining BalancePhp 1000NoneNoneNoneNonePhp 5000Php 2000Php 500NoneNone
Online BankingAvailableAvailableAvailableAvailableAvailableAvailableAvailableAvailableAvailableAvailable
Minimum Monthly ADBPhp 1000NoneNonePhp 5000NoneNot MentionedPhp 2000Not MentionedNoneNone
Minimum Balance to Earn InterestPhp 2000Php 5000Php 2000Php 5000Php 10,000Php 5000Php 2000Php 4000Php 2000Php 500
Interest Rate (Per Annum)0.0625%0.15%0.375% P.A.0.100%0.10%0.0675%0.25%0.0625%0.1000%0.10%
Service Fees and ChargesMonthly Service Charge for Falling Below the Required ADB - Php 300, Fee for Closing within 1 Month from Date of Opening - Php 500, Card Replacement - Php 150Early Closure (Within 30 Days) – Php 500, Card Replacement Fee – Php 150Falling Below Required Maintaining Average Daily Balance - Php 300Card Replacement - Php 200, Early Closure (Within 30 Days) - Php 500 Annual Fee: Php 350 (Waived for the First Year, Falling Below Minimum ADB for 2 Consecutive Months - Php 1000, Card Replacement - Php 300Falling Below Minimum Balance for 2 Consecutive Months - Php 300/month, Early Closure (Within 90 days) - Php 300, Card Replacement - Php 150Account Closure Within 30 Days - Php 300, Below Minimum Balance - Php 300Early Closure (Within 30 Days) - Php 200Card Replacement - Php 200Payment for Debit Card - Php 150
Account FeaturesGuaranteed Savings, Allowance Transfer Facility, and Cellphone ReloadingCashless and Online Shopping, Enhanced Security, Worldwide Acceptance Through Mastercard, Manage and Access Your Account 24/7Comes with a Visa Debit Card and Specially Designed PassbookComes With PNB-PAL Mabuhay Miles Debit Mastercard or PNB PassbookTransact at UnionBank and Bancnet ATMs Nationwide and at Visa ATMs Worldwide, 24/7 Access to Your Money Via UnionBank Online, Allows You to Purchase at Visa Establishments WorldwideComes With a Passbook and/or an Everyday Debit Mastercard, Higher Than Normal Interest RatesComes with an ATM Debit Card and Passbook24/7 Access, Convenient as Cash, Manage Your Account OnlineComes With free Personal Accident Insurane, Easy Access to Fund Using the PSBank Debit MastercardVirtual and Physical Card, Online Account Monitoring, Online Shopping and Transactions
Link

10 Best Debit Cards for Students

The products we introduce below were carefully curated by the mybest team using the points mentioned in our detailed and thoroughly researched buying guide.

1

Bank of the Philippine Islands (BPI)Jumpstart Savings Account

Age10 to 17 Years Old
RequirementsProof of Billing, Government ID of Parent/Guardian, Account Holder's Birth Certificate, School ID, 2 1x1 ID Photo, Initial Deposit (Php 100)
Minimum Initial DepositPhp 100
Maintaining BalancePhp 1000
Online BankingAvailable
Minimum Monthly ADBPhp 1000
Minimum Balance to Earn InterestPhp 2000
Interest Rate (Per Annum)0.0625%
Service Fees and ChargesMonthly Service Charge for Falling Below the Required ADB - Php 300, Fee for Closing within 1 Month from Date of Opening - Php 500, Card Replacement - Php 150
Account FeaturesGuaranteed Savings, Allowance Transfer Facility, and Cellphone Reloading
2

Rizal Commercial Banking Corporation (RCBC)GoSavers

Age0 to 21 Years Old
RequirementsFilled Out RCBC Account Opening Forms, Identification Documents
Minimum Initial DepositPhp 100
Maintaining BalanceNone
Online BankingAvailable
Minimum Monthly ADBNone
Minimum Balance to Earn InterestPhp 5000
Interest Rate (Per Annum)0.15%
Service Fees and ChargesEarly Closure (Within 30 Days) – Php 500, Card Replacement Fee – Php 150
Account FeaturesCashless and Online Shopping, Enhanced Security, Worldwide Acceptance Through Mastercard, Manage and Access Your Account 24/7
3

Sterling Bank of AsiaNeo Savings Account

Age19 Years Old and Below
Requirements1 Valid Photo-Bearing Government ID
Minimum Initial DepositAny Amount
Maintaining BalanceNone
Online BankingAvailable
Minimum Monthly ADBNone
Minimum Balance to Earn InterestPhp 2000
Interest Rate (Per Annum)0.375% P.A.
Service Fees and ChargesFalling Below Required Maintaining Average Daily Balance - Php 300
Account FeaturesComes with a Visa Debit Card and Specially Designed Passbook
4

Philippine National Bank (PNB)MyFirst Savings Account

Age7 to 19 Years Old
Requirements1 Valid ID, Fully Accomplished Forms, Valid Enrollment/Registration Form of the Current School Year
Minimum Initial DepositNone
Maintaining BalanceNone
Online BankingAvailable
Minimum Monthly ADBPhp 5000
Minimum Balance to Earn InterestPhp 5000
Interest Rate (Per Annum)0.100%
Service Fees and ChargesCard Replacement - Php 200, Early Closure (Within 30 Days) - Php 500
Account FeaturesComes With PNB-PAL Mabuhay Miles Debit Mastercard or PNB Passbook
5

UnionBank of the PhilippinesPersonal Savings Account

Age18 Years Old and Above
RequirementsUnionBank Account (Can Be Opened Online), Valid ID
Minimum Initial DepositNone
Maintaining BalanceNone
Online BankingAvailable
Minimum Monthly ADBNone
Minimum Balance to Earn InterestPhp 10,000
Interest Rate (Per Annum)0.10%
Service Fees and ChargesAnnual Fee: Php 350 (Waived for the First Year, Falling Below Minimum ADB for 2 Consecutive Months - Php 1000, Card Replacement - Php 300
Account FeaturesTransact at UnionBank and Bancnet ATMs Nationwide and at Visa ATMs Worldwide, 24/7 Access to Your Money Via UnionBank Online, Allows You to Purchase at Visa Establishments Worldwide
6
Security Bank  Junior One Savings Account 1

Security Bank Junior One Savings Account

Age7 to 18 Years Old
Requirements1 Primary Valid ID or 2 Secondary Valid IDs, Initial Deposit (Php 100)
Minimum Initial DepositPhp 100
Maintaining BalancePhp 5000
Online BankingAvailable
Minimum Monthly ADBNot Mentioned
Minimum Balance to Earn InterestPhp 5000
Interest Rate (Per Annum)0.0675%
Service Fees and ChargesFalling Below Minimum Balance for 2 Consecutive Months - Php 300/month, Early Closure (Within 90 days) - Php 300, Card Replacement - Php 150
Account FeaturesComes With a Passbook and/or an Everyday Debit Mastercard, Higher Than Normal Interest Rates
7

Banco De Oro (BDO)Power Teens Club

Age13 to 19 Years Old
Requirements2 Valid IDs, School Registration and ID, 2 1x1 Photos
Minimum Initial DepositPhp 2000
Maintaining BalancePhp 2000
Online BankingAvailable
Minimum Monthly ADBPhp 2000
Minimum Balance to Earn InterestPhp 2000
Interest Rate (Per Annum)0.25%
Service Fees and ChargesAccount Closure Within 30 Days - Php 300, Below Minimum Balance - Php 300
Account FeaturesComes with an ATM Debit Card and Passbook
8

Metrobank Sparks Savings Account

Age7 to 21 Years Old
Requirements1 Valid, Photo-Bearing ID With Signature
Minimum Initial DepositNone
Maintaining BalancePhp 500
Online BankingAvailable
Minimum Monthly ADBNot Mentioned
Minimum Balance to Earn InterestPhp 4000
Interest Rate (Per Annum)0.0625%
Service Fees and ChargesEarly Closure (Within 30 Days) - Php 200
Account Features24/7 Access, Convenient as Cash, Manage Your Account Online
9

Philippine Savings Bank (PSBank)Teen Savings

AgeKiddie - 0 to 12 Years Old, Teens - 13 to 17 Years Old
RequirementsFilled Out Bank Forms, Valid ID
Minimum Initial DepositNone
Maintaining BalanceNone
Online BankingAvailable
Minimum Monthly ADBNone
Minimum Balance to Earn InterestPhp 2000
Interest Rate (Per Annum)0.1000%
Service Fees and ChargesCard Replacement - Php 200
Account FeaturesComes With free Personal Accident Insurane, Easy Access to Fund Using the PSBank Debit Mastercard
10
Age18 Years Old and Above
RequirementsFilled Out Form, Valid ID (Can Also Apply Online Through the RBank Sign-Up App)
Minimum Initial DepositPhp 100
Maintaining BalanceNone
Online BankingAvailable
Minimum Monthly ADBNone
Minimum Balance to Earn InterestPhp 500
Interest Rate (Per Annum)0.10%
Service Fees and ChargesPayment for Debit Card - Php 150
Account FeaturesVirtual and Physical Card, Online Account Monitoring, Online Shopping and Transactions

Frequently Asked Questions

Below are some of the most asked questions on the web answered by the mybest team.

Debit Card vs Savings Account: What’s the Difference?

A debit card is linked to a savings account and can be used to access the funds in the said account to pay for purchases and services. This can be done through either cashless transactions or by using a debit card to withdraw money from an ATM.

Is There an Age Requirement to Apply for a Debit Card?

The minimum age requirement for a debit card varies from bank to bank. As mentioned above, there are various types of savings accounts with debit cards designed for kids and teenagers. Take note that parents or guardians have to open the account on behalf of their children who are under 18 years old (minors).

Can a Student Use a Debit Card for Installment Payments?

Most debit cards in the Philippines are not eligible for payment by installments because it is a direct debit from the connected bank account.

Manage Your Finances Better With These Apps

Aside from getting a debit card, here are more ways that can help you budget your money well whether you're a student or a professional. The good news is they're all digital!

Author: Teresa Gatmaitan

How We Chose and Ranked Our Product Recommendations

Our buying guide was carefully researched and crafted by the mybest team of writers and editors. We used the buying guide as a basis for choosing and ranking the product recommendations, and we looked at reviews and ratings from different E-commerce sites like Lazada, Shopee, and more.

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