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Debit cards for students

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  4. 10 Best Debit Cards for Students in the Philippines 2023 | BPI, RCBC, and More
  • 10 Best Debit Cards for Students in the Philippines 2023 | BPI, RCBC, and More 1
  • 10 Best Debit Cards for Students in the Philippines 2023 | BPI, RCBC, and More 2
  • 10 Best Debit Cards for Students in the Philippines 2023 | BPI, RCBC, and More 3
  • 10 Best Debit Cards for Students in the Philippines 2023 | BPI, RCBC, and More 4
  • 10 Best Debit Cards for Students in the Philippines 2023 | BPI, RCBC, and More 5

10 Best Debit Cards for Students in the Philippines 2023 | 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. 

Last updated 07/14/2023
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Editorial Team

Our recommendation articles are carefully researched and crafted by the mybest Philippines team of writers and editors. To stay true to our company’s mission and vision to help users’ selection process easier, we also collaborate with experts from various fields to ensure that our content stays factual and useful.

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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.

1

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. 

2

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.

3

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.

4

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. 

5

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.
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10 Best Debit Cards for Students

Here are the best Debit Cards for Students, ranked according to the points mentioned in our thoroughly researched buying guide (as of 01-16-2023). The products are ranked independently by mybest.
Popularity
Products
Image
Click to purchase
Key features
1

Bank of the Philippine Islands (BPI)

Jumpstart Savings Account

Bank of the Philippine Islands (BPI) Jumpstart Savings Account  1枚目

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

2

Rizal Commercial Banking Corporation (RCBC)

GoSavers

Rizal Commercial Banking Corporation (RCBC) GoSavers 1枚目

Enjoy the Perks of the MyDebit ATM Card

3

Sterling Bank of Asia

Neo Savings Account

Sterling Bank of Asia Neo Savings Account 1枚目

Requires Low Minimum Deposit and No Maintaining Balance to Open

4

Philippine National Bank (PNB)

MyFirst Savings Account

Philippine National Bank (PNB) MyFirst Savings Account 1枚目

Earn Points With the PNB-PAL Mabuhay Miles Debit Mastercard

5

UnionBank of the Philippines

Personal Savings Account

UnionBank of the Philippines Personal Savings Account 1枚目

Comes With a Visa EMV Debit Card

6

Security Bank

Junior One Savings Account

Security Bank  Junior One Savings Account 1枚目

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

7

Banco De Oro (BDO)

Power Teens Club

Banco De Oro (BDO) Power Teens Club 1枚目

Ideal Savings Account for High School Students

8

Metrobank

Sparks Savings Account

Metrobank  Sparks Savings Account 1枚目

For Young Filipinos Who Want to Start Saving Early

9

Philippine Savings Bank (PSBank)

Teen Savings

Philippine Savings Bank (PSBank) Teen Savings 1枚目

Provides Free Personal Accident Insurance for Your Children

10

Robinsons Bank

Simplé Savings

Robinsons Bank  Simplé Savings 1枚目

Beginner-Friendly Savings Account With Zero Maintaining Balance

If you don't see the product you're looking for, you can request that it be listed.
No.1

Bank of the Philippine Islands (BPI)Jumpstart Savings Account

Jumpstart Savings Account  Image 1
Source:bpi.com.ph

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

It can be a bit daunting to let your pre-teens or teens manage their own finances for the first time. Ease your worries by applying a BPI Jumpstart savings account for them. It comes with a debit card as well as features that help protect your child’s savings and make sure that their account is always funded.


With the Guaranteed Savings feature, you can set a minimum amount that the account should have to prevent unplanned withdrawals and going under the maintaining balance. You can also schedule when you want to automatically transfer allowances to your child’s account with the Allowance Transfer Facility feature.

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No.2

Rizal Commercial Banking Corporation (RCBC)GoSavers

Enjoy the Perks of the MyDebit ATM Card

Saving and spending responsibly are useful life skills that children and teenagers must learn, even at a young age. Equip your children with financial know-how by opening them with a savings account that can cater to their needs, just like RCBC’s GoSavers account. For only Php 100 and no required ADB, your child can manage their allowances and experience the advantages of using an ATM card. 


The MYDebit ATM card enables cashless and online shopping in various establishments both here and abroad through Mastercard. It also has enhanced security to protect your child’s funds and transactions and provides them 24/7 access to their account.

No.3

Sterling Bank of AsiaNeo Savings Account

Requires Low Minimum Deposit and No Maintaining Balance to Open

Opening a savings account for your kids or teens has never been easier with Sterling Bank’s Neo Savings! Because it requires a low opening balance requirement, they can start saving with any amount they have from allowances, gifts, or extra money from summer jobs. Gradually, this can earn interest and grow.


To easily monitor transaction histories and current account balances, the account also comes with a specially designed passbook and a Visa debit card. These will keep you and your kids up-to-date on the progress of their savings and know when they have enough to buy some of the things they want.

No.4

Philippine National Bank (PNB)MyFirst Savings Account

Earn Points With the PNB-PAL Mabuhay Miles Debit Mastercard

The PNB MyFirst Savings Account is for parents or legal guardians of children aged below 7 years old and students aged 7 to 19 years old. You can choose to get either the PNB-PAL Mabuhay Miles Debit Mastercard or PNB Passbook to access the account and manage transactions. For more perks and added convenience, we recommend you choose the debit card.


Aside from easier withdrawals and payments, the debit card enables you to earn points that can be redeemed for Mabuhay Miles when you shop at select merchant categories. In turn, you can use your Miles to book Philippine Airlines (PAL) flights and enjoy other benefits such as flight upgrades, extra baggage, and travel insurance.

No.5

UnionBank of the PhilippinesPersonal Savings Account

Comes With a Visa EMV Debit Card

The next item on our list is ideal for college students or those who are more than 18 years old and can apply for their own accounts yet still have limited sources of funds for the time being. With UnionBank’s Personal Savings Account, you can enjoy the features of a Visa EMV debit card without having to worry about maintaining a certain amount in your account.


You can use your debit card to transact at UnionBank and Bancnet ATMs nationwide and purchase at Visa establishments worldwide. UnionBank has also waived the Personal Savings annual fee of Php 350 for the first year!

No.6

Security Bank Junior One Savings Account

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

Help your kids and teens not only save but grow their money by opening them a Junior One account at Security Bank for as low as Php 100. This already comes with an Everyday Debit Mastercard and/or a passbook that can help them effectively manage and track their expenses and enjoy rewards from Security Bank partner merchants. 


Junior One also offers higher interest rates compared to regular savings accounts, enabling you to give your kids a head start on saving. Take note that for children six years old and below, the account will be opened as an In-Trust-For (ITF) account.

No.7

Banco De Oro (BDO)Power Teens Club

Ideal Savings Account for High School Students

High school is the time when most kids are given their first taste of financial independence by their parents. With their own allowances to spend for necessities, this is a golden opportunity to teach your children good spending habits and help them build their savings by enrolling them in a BDO Power Teens Club account.


The Power Teens Club is a type of Peso Savings Account that is designated for teens aged 13 to 19 years old. It comes with a BDO Debit Card that they can use to purchase from their favorite establishments as well as manage and access their account anytime.

No.8

Metrobank Sparks Savings Account

For Young Filipinos Who Want to Start Saving Early

The Metrobank Spark Savings Account is what all young savers need to take charge of their finances and control how their savings grow. First of all, it requires no initial deposit and only a minimal maintaining balance of Php 500 that you can build within one year from the date of account opening. Your money can also earn interest over time.


It comes with a debit card as well, which enables more secure and convenient transactions. What’s even better is when the depositor turns 22 years old, their Sparks Savings account will be converted to a Regular Savings with Debit Card so they can continue saving with Metrobank.

No.9

Philippine Savings Bank (PSBank)Teen Savings

Provides Free Personal Accident Insurance for Your Children

Empower your teens with the freedom to handle their own finances by applying them for a PSBank Teen Savings account. With no initial deposit or maintaining balance, they can grow their savings at their own pace. Funds are also easy to access by requesting a PSBank Debit Mastercard and Passbook, while transactions can be monitored anytime by enrolling in the bank’s electronic banking facilities.


On top of the security and stability of banking with PSBank, this savings account also comes with free personal accident insurance from AXA Philippines, which is equivalent to five times the monthly ADB. Insurance can be claimed as long as the account is active and has a monthly ADB of at least Php 1000 during the time of accident.

No.10

Robinsons Bank Simplé Savings

Beginner-Friendly Savings Account With Zero Maintaining Balance

Just like what its name suggests, Robinsons Bank Simplé Savings is the fastest, easiest, and simplest way to open a savings account. You just have to download the RBank Sign-Up app, where you’ll send in your selfie and a photo of your valid ID, fill out the form and verify your mobile number to experience hassle-free banking.


It comes with a virtual and physical debit card, which you can request for Php 150, and use to shop and transact online. Moreover, no maintaining balance is required for this account, and you only need Php 500 in funds to earn interest. Take note, however, that the maximum account balance is only Php 45,000.

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.

Top 5 Debit Cards for Students

No. 1: Bank of the Philippine Islands (BPI)Jumpstart Savings Account

No. 2: Rizal Commercial Banking Corporation (RCBC)GoSavers

No. 3: Sterling Bank of AsiaNeo Savings Account

No. 4: Philippine National Bank (PNB)MyFirst Savings Account

No. 5: UnionBank of the PhilippinesPersonal Savings Account

View Full Ranking
The descriptions of each product are referenced from content available on manufacturer, brand, and e-commerce sites.
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