Security Bank All Access Checking Account – MoneySmart Review 2020

Security Bank All Access Checking Account – MoneySmart Review 2020

Security Bank’s All Access account won The Asian Banker’s Philippine Country Awards in 2017 for Deposit Product of the Year. Read on to find out more about this award-winning savings and checking account. It might be just the savings or checking account that you need.

All Access Checking Account at a glance

It’s a savings and checking account in one, which meets and simplifies your banking needs.

With this account, you also get a checkbook, a passbook, and an Everyday Debit/ATM Mastercard.

You may choose to avail of just one, a combination of two, or all three facilities.

Opening balance 5,000 PHP
Maintaining balance 25,000 PHP
Balance to earn interest 100,000 PHP
Interest rate 0.10%
Free life insurance from FWD Up to 3 million PHP (or up to 3x your Average Daily Balance)

Free life insurance

The All Access Checking Account also comes with a free Group Life Insurance and Group Accidental Death Benefit from FWD. Features and benefits are as follows:

  • Life coverage of up to 3 times your Average Daily Balance or ADB (up to 3 million PHP)
  • Accidental death benefit equivalent to your Average Daily Balance or ADB (up to 3 million PHP)
  • Terminal illness benefit of up to 2 million PHP or equivalent to your life coverage
  • No medical check-ups needed
  • Immediate insurance coverage once enrollment is approved
  • No monthly fees
  • Available to new clients who are between 18 and 60 years old

Terminal illness and accidental death benefit

Aside from the free life insurance, you can enjoy the following benefits with your All Access Account if you meet the requirements.

Benefit Age 18-50 years old Age 51 to 60 years old
Group Life Insurance 3 x ADB, maximum of 3 million PHP 1 x ADB, maximum of 3 million PHP
Accidental Death Benefit 1 x ADB, maximum of 3 million PHP 1 x ADB, maximum of 3 million PHP
Family Assistance Benefit Up to 25,000 PHP Up to 25,000 PHP
Terminal Illness Benefit 100% of life, maximum of 2 million PHP 100% of life, maximum of 2 million PHP

You can claim your free life insurance when you open an All Access Account, fill out the adverse health declaration questionnaire and sign the the insurance enrollment form. Do make sure to read the terms and conditions, of course.

How to open an All Access Checking Account

Security Bank offers clients ease and convenience. You can open an account online by going to the Online Account Opening or the Human Switch Kit page.

Key in the required information on the online application form and an email will be sent to you right after.

You will need to visit the Security Bank branch that you nominated in your application for a personal appearance.

Make sure to bring one primary valid ID and two secondary valid IDs. The list of accepted IDs can be viewed here.

If you opt to open an account via the Human Switch Kit, you can fill out the online Switch Kit form. A message will be sent afterwards, and someone from Security Bank will set an appointment with you.

What’s great about this account opening service is that you can do it in your place of work, your residence, or even in a coffee shop! Whichever is most convenient for you.

And of course, you can always visit any Security Bank branch in your area and open an account in as fast as 15 minutes.

Final Thoughts

Security Bank offers very easy account opening procedures and affordable opening and maintaining balances.

The All Access Account is also packed with great benefits that will protect you and your family when something untoward happens to you.

If you have a gross monthly salary of at least 25,000 PHP, you can even use your All Access Account as your payroll account.


Interested in opening your own All Access Account? Get a free checkbook if you open an account until March 31, 2020.