How to Open a COL Financial Account with ₱1,000

How to Open a COL Financial Account with ₱ 1,000

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The Philippine Stock Market has already been proven to be one of the best passive income-generating investments for the past years.

Still, some people believe that the stock market is only for the rich. But did you know that you can already open a stock market account for as low as 1,000 Pesos with COL Financial?

You read it right! One. Thousand. Pesos.

What can you usually buy with a thousand pesos?

Five cups of Starbucks coffee? A pair of shoes? A dine out?

Now, how about putting it into something your future self would thank for?

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What is COL Financial?

COL Financial is one of the largest online stock brokers in the Philippines. I opened an account last January 2018 for 5,000 pesos. 

It was the minimum amount to open an account back then. But now, you can already open a stock market account for 1,000 Pesos.

With your one thousand pesos, you can already get access to basic research reports, standard market information, and end-of-day charting data.

Related post: Four Ways to Invest in the Philippine Stock Market

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How to Open a stock market account with COL Financial

Step 1: Fill out COL’s Application form

You can download COL’s Application form HERE.

Just download, printout, and completely fill out the forms. You will be required to input your Tax Identification Number (TIN). If you have no TIN yet, you can just apply HERE.

Step 2: Prepare the requirements

Step 3: Submit forms and requirements

You can submit your requirements to the following COL Financial branches near you:

NOTE: Do not forget to bring two valid IDs.

What is the other way for me to send my requirements?

If you are unable to visit COL Financial’s physical branches, you can just send your application through iRemit.

After reviewing your application, you will be scheduled for a video conference call for information verification, mostly through Skype.

Please be advised with the standard packaging as follows when sending your physical documents through iRemit:

Step 4: Fund your account

Once you apply for an account and your application is accepted, COL will be giving you the account details of the banks where you can fund your account.

You will be given a grace period of three months to fund your account in order for it to be activated. Otherwise, your application will be voided automatically.

After the successful funding, you can now login to your online account being provided by the COL Financial. You can already use it to buy your own shares of stocks.  

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My personal experience with COL Financial account opening

Based on my own experience, it took me less than an hour to open my COL account.

I just went to the nearest COL Financial branch without even bringing an application form nor the money to open an account. But I brought valid IDs with me. I funded my account a week after in order for it to be activated.

I highly suggest visiting the nearest COL Financial near you when opening an account. With this, you will be able to deliver your queries to the COL staff personally. The process is also quicker than sending your applications through iRemit.

If you’re new to stock market investing, I highly suggest reading my previous posts:

• Stock Market Investing: What are the risks involved?
• Understanding How Stocks Work: Stock Market BasicsS
• Why do people invest in stocks? Here are five big reasons
• Four ways to invest in the Philippine Stock Market
  
  

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