Bank on This
When it comes to opening a savings/ checking account, I only have 1 rule: I will go with the bank that won't make me line up.
Ok, so maybe that's oversimplification to the highest degree. Of course, it's also important to a choose a stable bank that will not go on a bank holiday any time soon. But really, I want a bank that will not subject me to that arduous task of falling in line.
For all things bills related, I rely on Metrobank Direct online banking to get things done. I pay all our bills online (excluding condo dues and cable TV, but with Destiny Cable merging with Sky Cable, it might just be a matter of time until I can pay off our cable bills online too!) and I can even stagger my credit card payments online. I swear, I say a tiny prayer of thanks every time I click on the pay button.
I used to line up at BPI every time I wanted to fund our emergency fund, but after about two months of patiently waiting for my number to be called, I realized that there was an ATM right outside the bank that accepted cash deposits and I've been passing by the same ATM all this time! Sheesh.
When it comes to emergency funds and funding emergency funds, the general consensus is to open a purely passbook account in order to prevent the convenience of dipping into your emergency funds any time you want, which might happen if you have an ATM card. I must say that this is sound advice, because the first time I opened a savings account to house our emergency funds, I had an ATM card to go with it and ended up closing that account within a few months because of "emergency" shoe purchases and other shenanigans like that.
But despite my checkered past, I still opted to open an ATM account for our current emergency funds, because I'm now much wiser and more financially responsible, but more importantly, I try to avoid going to the mall as much as possible:p
If I had to choose between Metrobank and BPI, I would probably go with BPI because of the ATM cash deposit feature. But before I make the switch, I would have to check if all my merchants are also affiliated with BPI's online banking, otherwise, there's no reason to shake up the status quo.