Below is a consolidated checklist distilled from the current publicly-available policy documents of the three biggest universal banks plus the Philippine Deposit Insurance Corporation (PDIC). While each bank can still impose branch-level nuances, meeting every item on this list will satisfy the usual acceptance standards for a Special Power of Attorney (SPA) presented to a Philippine bank.
1. Core documentary requirements (apply to all banks)
| # | Requirement | Practical notes | Key sources |
|---|---|---|---|
| 1 | Original, notarised SPA | Must carry the exact account number(s) and clearly enumerate each action to be performed (withdraw, deposit, close account, encumber funds, etc.). Generic or “all-purpose” wording is often rejected. | BPI Deposit T&C §III(iii) (bpi.com.ph, bpi.com.ph) ・ BDO corporate a/c checklist (bdo.com.ph) ・ Metrobank Fixed-Income FAQ (metrobank.com.ph) |
| 2 | Authentication if executed abroad | SPA signed outside PH must be Apostilled or consularised by the nearest Philippine Embassy/Consulate. Banks routinely refuse plain overseas notarisation. | BDO real-estate buyer checklist (bdo.com.ph) |
| 3 | Government-issued IDs | • Clear photocopy of the principal’s ID submitted with the SPA • Original ID of the attorney-in-fact shown at the counter (plus a photocopy the bank keeps). |
Same BDO, BPI and Metrobank forms above |
| 4 | Specimen-signature verification | The attorney-in-fact will be asked to sign a signature‐card; the bank compares it with the SPA. Bring at least one secondary ID in case the branch insists. | Based on standard KYC rules incorporated in bank forms |
| 5 | Freshness / validity window | Most branches want the SPA dated within 12 months unless it is labelled “Irrevocable”. PDIC requires it to be “current” and will not accept stale documents. | PDIC claims page (pdic.gov.ph, pdic.gov.ph) |
| 6 | Two disinterested witnesses | Notarisation already certifies this, but some branches still ask witnesses to appear or provide IDs—especially for high-value withdrawals. | Field practice; reinforced by bank personnel circulars |
| 7 | Bank-prescribed template (when available) | BDO, BPI and PDIC all publish their own SPA forms; using them speeds up approval and avoids wording issues. | BDO & BPI downloadable forms, PDIC SPA link (bpi.com.ph, pdic.gov.ph) |
| 8 | Supporting documents tied to the transaction | Examples: passbook, ATM card, bond subscription form, or title details for a real-estate SPA. The attorney-in-fact must present these originals. | See BDO real-estate list (bdo.com.ph) |
2. Bank-specific quick-look guide
| Bank | Extra quirks to watch for | Where it’s written |
|---|---|---|
| BDO Unibank | • Prefers its “Mutual SPA” template for joint accounts. • Overseas principals → SPA must be apostilled/consularised and include a notarised Attorney-in-Fact Info Sheet. |
Corporate a/c checklist (bdo.com.ph) ・ Real-estate buyer checklist (bdo.com.ph) |
| Bank of the Philippine Islands (BPI) | • Branches will only honour an SPA that explicitly allows withdrawals or fund transfers—blanket wording is rejected. • SPA becomes part of the depositor’s account records and “shall not be revoked or cancelled without BPI’s written consent.” |
BPI Deposit T&C §III(iii) (bpi.com.ph, bpi.com.ph) |
| Metrobank | • For Peso government securities, Metrobank flatly requires a notarised SPA plus Investor’s Undertaking before it will open the settlement account. • Loan & investment application checklists list “SPA, if applicable,” but branches still expect notarisation and up-to-date IDs. |
Fixed-Income FAQ (metrobank.com.ph) ・ Loan checklists (web-assets.metrobank.com.ph, web-assets.metrobank.com.ph) |
| PDIC (for closed-bank insurance claims) | • Only accepts the original notarised (or apostilled) SPA—no photocopy. • The attorney-in-fact must submit his/her own valid ID and the passbook/certificate of time deposit. |
PDIC “How to File Claims” & flyer (pdic.gov.ph, pdic.gov.ph) |
3. Common rejection triggers
- Unsigned or photocopied SPA
- SPA older than one year without an “irrevocable” clause
- Generic authority (“to act in any way”) instead of bank-specific powers
- Missing apostille/consular authentication for overseas documents
- ID discrepancies (name spelling, married vs maiden name)
- Principal is a minor or declared legally incompetent (court-approved guardianship needed instead)
4. Step-by-step game-plan
- Draft using the bank’s template where available, or match its wording exactly.
- Notarise in the Philippines – or apostille/consularise abroad.
- Attach photocopies of principal & attorney-in-fact IDs.
- Have the attorney-in-fact sign the SPA in black ink matching his/her ID signature.
- Bring the SPA, IDs (original & photocopy), and the passbook/ATM card (or other supporting document) to the branch.
- The attorney-in-fact fills out the bank’s signature-card/KYC form and is usually interviewed briefly.
- Wait for the branch to finish back-office validation (anywhere from same-day to 3 banking days). Once cleared, the attorney-in-fact may proceed with the requested transaction.
Final tips
- Call the exact branch you’ll visit—some impose local quirks (e-signature embargoes, additional witnesses, or local notary recognition lists).
- If you need the SPA for multiple banks, prepare separate originals; banks will seldom share one document.
- Keep a scanned copy; once surrendered, branches rarely return the original SPA.
By following the checklist above you will satisfy all standard documentary and authentication hurdles Philippine banks apply when they evaluate a Special Power of Attorney.