ACCOUNT OPENING

MANUAL FOR FOREIGN-

BASED CORPORATIONS
Corporate Banking Group
Multinational Corporations Division
Metropolitan Bank & Trust Company

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 ACCOUNT OPENING REQUIREMENTS

STEP 1: Kindly submit the following documents to the desired MBTC branch:
(Note: All documents executed outside the Philippines must be duly consularized.)

1. Updated Business Papers of Mother Account

Certificate of Incorporation and By-laws and any amendments, if any

2. Latest SEC Papers

License to transact in the Philippines

Latest General Information Sheet

3. Consularized original copy of the Secretary’s Certificate

With resolution for account opening and bank transactions

Standard bank format – refer to Annex A

Note: Secretary’s Certificate that do not adhere to the standard bank format is valid up to 2
years only.

4. Power of Attorney

Executed by the officer designated in the Board Resolution, in favour of the persons who will
open / operate the account in the Philippines

Standard bank format – refer to Annex B

Bank Forms

5. Customer Information Form – Institutional

1 copy

Authenticated by the Corporate Secretary if not signed in front of bank personnel

Refer to Annex C for sample form and fill-out instruction

6. Specimen Signature Cards

2 cards per signatory

Authenticated by the Corporate Secretary if not signed in front of bank personnel

Refer to Annex D for sample form and fill-out instruction

Note: Signature cards can accommodate 2 signatories and should be renewed every 3
years.

7. Photocopy of 2 valid photo-bearing IDs

For each Signatory and Corporate Secretary

Authenticated by Corporate Secretary

Refer to Annex E for a list of acceptable IDs

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 TYPES OF ACCOUNTS

STEP 2: Client may deposit/remit the required amount for account opening. Below are the types of account
the client may choose to open:

Corporate Checking Account

Charge incurred if
Initial Maintaining Balance to Interest per
below maintaining
Deposit Balance earn interest annum
balance
Regular
P 10,000.00 P 10,000.00 n.a. n.a. P 300.00
Checking
AccountOne
P 50,000.00 P 50,000.00 P 50,000.00 0.350% P 500.00
Commercial
US $10.00; .75%
witholding tax p.a.,
USD Checking $ 10,000.00 $ 10,000.00 $ 10,000.00 non-interest
checkbook cost - US
$ 65.00

Corporate Savings Account

Charge incurred if
Initial Maintaining Balance to Interest per
below maintaining
Deposit Balance earn interest annum
balance

Passbook
P 10,000.00 P 10,000.00 P 10,000.00 0.25% P 500.00
Savings

MetroDollar
$500.00 $500.00 $500.00 0.125% $10.00
Savings

Foreign Currency Savings

Japanese Yen
¥ 50,000.00 ¥ 50,000.00 ¥ 50,000.00 0.005% ¥ 150.00
(JPY)

Euro (EUR) 500 500 500 0.25% 5

Swiss Franc
F 2,000.00 F 2,000.00 F 15,000.00 0% F 2.00
(CHF)

Canadian Dollar CA $ CA $ CA $
0.25% CA $ 4.00
(CAD) 2,000.00 2,000.00 2,000.00

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 ANNEX A

SECRETARY'S CERTIFICATE

I, _________________________, of legal age, __________________ citizen, single / married, and

a resident of _______________________________________________________, after being duly sworn in
accordance with law, depose and state that:

1. I am the duly elected and qualified Corporate Secretary of

_____________________________________________, a corporation duly organized and existing
under the laws of the Philippines (the “CORPORATION”), with principal office at
_________________________________________.

2. At the regular meeting of the Board of Directors of the CORPORATION held on

_________________, the following resolutions were unanimously approved, a legal quorum being
present and voting:

RESOLUTION

RESOLVED, that METROPOLITAN BANK & TRUST COMPANY

(hereinafter called “METROBANK”) be, and is hereby, designated a
depository of the funds/monies of the CORPORATION and that the
CORPORATION be, and is hereby, authorized to open savings, time,
current and/or trust accounts with METROBANK, Head Office, and/or any
of its branches.

RESOLVED, FURTHER, that any ____________ ( ) of the

following be authorized (i) to sign, execute and/or deliver any and all
documents in connection with the opening of any account(s) with or
investment of any funds through METROBANK; (ii) to withdraw or transfer
the funds/monies of the CORPORATION by checks, receipts, drafts, bills of
exchange, withdrawal slips, orders for payment or otherwise, and (iii) to
sign, endorse, draw, accept, make, execute and/or deliver, for negotiation,
payment, deposit or collection, checks, receipts, drafts, bills of exchange,
orders for payment and/or other similar instruments in connection with the
account(s), including the authority to avail of all other banking services,
apply for and enroll in electronic banking channels and appoint its
authorized users:

Name Position Specimen Signature

______________________ _________________ ___________________

______________________ _________________ ___________________
______________________ _________________ ___________________
______________________ _________________ ___________________
______________________ _________________ ___________________
______________________ _________________ ____________________

RESOLVED, FURTHERMORE, that METROBANK, its directors,

officers, employees, agents or authorized representatives are each entitled
and authorized to rely on these instructions as valid, binding, and effective
upon the CORPORATION and that METROBANK, its directors, officers,
employees, agents or authorized representatives shall not be liable for any
act done or suffered by them in reliance of the above instructions, it being
understood that any and all risks and costs arising from the above
instructions shall be for CORPORATION’s sole and exclusive account.

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 RESOLVED, FINALLY, that all things/acts done and documents
executed and entered into by the aforementioned signatories pursuant to
and in accordance with the foregoing authorities are hereby confirmed,
affirmed and ratified. Likewise all things/acts done and documents executed
and entered into prior to this Resolution are hereby affirmed, confirmed and
ratified.

RESOLUTION

RESOLVED, that the CORPORATION be, as it is hereby

authorized to borrow from and/or enter into loans/credit accommodations
and trust receipt agreements with METROPOLITAN BANK & TRUST
COMPANY (“METROBANK”), Head Office and/or any of its branches up to
the aggregate principal amount of PESOS P_______________________
under such terms and conditions as may be imposed by METROBANK;

RESOLVED, FURTHER, that any ____________ ( ) of the

following be authorized (i) to sign, execute and/or deliver applications for
loan/credit accommodations, credit line/loan agreements, promissory notes,
drafts, letters of credit, trust receipts, indemnity agreements, undertakings,
and any all documents/agreements in connection therewith, including the
amendments, renewals or extensions thereof; (ii) to discount and/or
negotiate checks, drafts and/or commercial papers/instruments; and (iii) to
assign, transfer, pledge, mortgage and/ or encumber the
CORPORATION’s savings/current/time/trust accounts, shares of stocks,
bonds, securities, real or personal properties, rights and/or other assets as
security for the above mentioned loans/credit accommodations and to sign,
execute and/or deliver the corresponding deeds of assignment, real estate
mortgages, chattel mortgages, pledge agreements, and such other
document/agreements/deeds related or connected therewith; and (iv) to
sign, execute and/or deliver debt restructuring agreements, assignments of
properties (real and personal) in payment of the loans/credit
accommodations (“Dacion en Pago”) and all other
documents/agreements/deeds for the settlement/payment of the
loans/credit accommodations of the CORPORATION with METROBANK.

Name Position Specimen Signature

______________________ _________________ __________________

______________________ _________________ __________________
______________________ _________________ __________________
______________________ _________________ __________________
______________________ _________________ __________________
______________________ _________________ __________________

RESOLVED, FURTHERMORE, that METROBANK, its directors,

officers, employees, agents or authorized representatives are each entitled
and authorized to rely on these instructions as valid, binding, and effective
upon the CORPORATION and that METROBANK, its directors, officers,
employees, agents or authorized representative shall not be liable for any
act done or suffered by them in reliance of the above instructions, it being
understood that any and all risks and costs arising from the above
instructions shall be for my/our sole and exclusive account.

RESOLVED, FINALLY, that all things/acts done and documents

executed and entered into by the aforementioned signatories pursuant to
and in accordance with the foregoing authorities are hereby confirmed,
affirmed and ratified. Likewise all things/acts done and documents executed
and entered into prior to this Resolution are hereby affirmed, confirmed and
ratified.

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2. That the CORPORATION has a Board of Directors composed of __________ ( )
members and the following are the current members of the board of directors elected in the annual
meeting of stockholders held on ________________:

Name Position

____________________ ___________________
____________________ ___________________
____________________ ___________________
____________________ ___________________
____________________ ___________________
____________________ ___________________

3. That the principal officers of the Corporation elected in the Organizational Meeting of the
Board of Directors held on ___________________ are as follows:

Name Position
________________________ _______________________
________________________ _______________________
________________________ _______________________
________________________ _______________________
________________________ _______________________

4. That the foregoing information is in accordance with the records of the CORPORATION and
Securities and Exchange Commission.

5. That the above Resolutions are valid, binding and subsisting and shall continue to be the
valid, binding and subsisting instruction of the CORPORATION such that Metrobank, its directors,
officers, employees, agents or authorized representatives have the right to rely upon said
Resolutions until and unless Metrobank has received original copy of subsequent Secretary’s
Certificate or Board Resolution expressly superseding/invalidating the above referred Resolutions.

IN WITNESS WHEREOF, I have hereunto affixed my signature at _________________, on

_________________.

____________________
Corporate Secretary
Attested by:

___________
President

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REPUBLIC OF THE PHILIPPINES ) S.S.
____________________________ , )

SUBSCRIBED AND SWORN TO BEFORE ME in _________________________________, this

__________________, Affiant(s) exhibiting to me his/her/their ID/s:

NAME ID No. DATE AND PLACE OF ISSUE EXPIRY DATE

NOTARY PUBLIC

Doc. No.
Page No.
Book No.
Series of

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 AN NEX B

(DATE)
SPECIAL POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS:

That I, (NAME OF AUTHORIZED SIGNATORY), (indicate citizenship) citizen, in my capacity as (indicate

position) of (NAME OF CORPORATION) (hereinafter referred to as the “Company”), duly organized and
existing under and by virtue of the laws of Japan and having its principal office at (OFFICE ADDRESS), do
make, constitute and appoint the followings as the Company’s Authorized Signatories regarding the
business transactions of (NAME OF PHILIPPINE OFFICE) (“Philippine Representative Office”):

Name Position
__________________ ___________________
__________________ ___________________
__________________ ___________________

Signing (Signing Rules, i.e. signing singly/jointly), for it and its name, place and stead to do and perform
the following acts:

1. To open and maintain any type of Corporate Account/s, in any currency with METROPOLITAN
BANK & TRUST COMPANY - Head Office and/or any of its branches (hereinafter referred to as
the “Bank”), and to operate said accounts and transact business with the Bank on behalf of
the Philippine Branch/Representative Office;

2. To withdraw/remit from and deposit funds to the said account/s and to sign any documents related to
the opening, maintenance of, and remittance from the said account/s;

3. To close the said account/s and to sign any documents related to the closure of the said account/s in
case it is no longer used;

4. To act as the Authorized Signatory on all Legal documents, negotiable instruments and transactions
with the Bank;

5. To enroll in Metro Bank Direct-Corporate and other related Bank’s products/transactions and to sign,
execute and/or deliver any and all document in connection with the enrollment in such Metro Bank
Direct-Corporate and/or other Bank’s products/transactions and to appoint the authorized users
thereof.

6. To withdraw from Metro Bank Direct-Corporate and to sign, execute and/or deliver any and all
document in connection with the withdrawal from Metro Bank Direct-Corporate in case it’s no longer
used.

HEREBY GIVING AND GRANTING unto the said representatives of the Company / Philippine
Representative Office, the powers to execute any and all acts / duties stated above for and in behalf of the
said Company / Philippine Representative Office, until otherwise revoked, amended and / or cancelled in
writing.
th
IN WITNESS WHEREOF, I have hereto set my hand on this ___ day of ______.

By
NAME OF CORPORATION

_________________________________
NAME OF AUTHORIZED SIGNATORY
POSITION

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 ANNEX C

Metrobank Customer Information Form – Institutional Fill-out Instruction

The following are the fill-out procedures for corporate accounts:

*Note: Up to Four (4) Signatories may fill out the Customer Information Form

a. The front page of the CIF shall

contain the information of the
corporation while the back page
shall pertain to the signatories of
the account.

b. The following fields shall always

be filled-out:

1. Business Name
2. Business Address
3. Mailing Address (if different
from Permanent/Office
Address)

4. Date of Registration
5. Country of Registration
6. Tax Identification Number
7. Nature of Business
8. Source of Funds

c. The company’s Authorized

Signatories are to sign on the
spaces provided at the bottom of
the form.

d. Signatures are to be signed in the

presence of and authenticated by
the Corporate Secretary if not
signed in front of bank personnel

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e. The back page of the CIF shall
pertain to information on each of
the company’s authorized
signatories.

f. The following fields shall always be

filled-out:

1. Name (Last Name, First name)

2. Present Address
3. Permanent Address (if different
from Present Address)
4. Date of Birth
5. Birth Place
6. Birth Date
7. Nationality
8. Phone/Mobile Number
9. Email Address
10. Job Title/Position
11. Tax Identification Number

g. If U.S. Person, the following fields

shall be filled-out:

1. U.S. Address
2. U.S. TIN
3. ID Presented and ID number

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 ANNEX C

Metrobank Customer Information and Specimen Signature Card Fill-out Instruction

The following are the fill-out

procedures for commercial accounts:
*Note: 2 signatories may fill out 1
Signature Card

a. The following fields shall always

be filled out:

1. Account Name
2. Present Address
3. Permanent/Mailing Address
(if different from Place of
Business)

b. The following must be filled out for

each signatory:

1. Name
2. Three (3) specimen
signatures for each
signatory

c. Signatures are to be signed in the

presence of and authenticated by
the Corporate Secretary

2. Kindly accomplish two (2) copies of the form.

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 ANNEX D

List of Valid Photo-bearing Identification Cards

1. Passport
2. Driver’s License
3. Professional Regulations Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Barangay Certification
9. Government Service and Insurance System (GSIS) e-Card
10. Social Security System (SSS) Card
11. Philhealth Card
12. Senior Citizen Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. Overseas Filipino Worker (OFW) ID
15. Seaman’s Book
16. Alien Certification of Registration (ACR)/Immigrant Certificate of Registration (ICR)
17. Government office and GOCC ID (e.g., Armed Forces of the Philippines (AFP), Home Development
Mutual Fund (HDMF) IDs)
18. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
19. Department of Social Welfare and Development (DSWD) Certification
20. Integrated Bar of the Philippines ID
21. Company IDs issued by private entities or institutions registered with, supervised or regulated either
by the BSP, SEC (i.e., corporations and partnerships) or IC (i.e., life and non-life insurance
companies).
22. Student ID issued and duly signed by the principal or head of the school.
23. For foreigner employees of Asian Development bank (ADB)*.
23.1 Employee ID cards issued by ADB (subject to the presentation of a valid passport)
23.2 For retirees who are not Filipino citizens, identification cards issued by the Philippine
Retirement Authority (PRA) (subject to the presentation of another valid photo-bearing ID)

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