Saturday, January 12, 2013

How to Open a COL Account


Here are the steps to take in opening an account with COL Financial: 

Step 1.  Determine which kind of account you would like to open: COL Starter,  COL Starter Plus or COL Premium. COL Starter is an entry-level account suitable for long-term investing which requires a minimum investment of only Php5,000.00. COL Starter Plus is for active traders and requires a minimum investment of Php25,000.00.  COL Premium is for the premier investor and requires a minimum investment of Php1M.


Step 2.  Download, print and fill out the required forms here.  (Please read How to Properly Fill Out COL Forms).  For opening an account for minors, please refer to this Guide.

Step 3. Attach a photocopy of a valid: 

a. Philippine ID (e.g. Passport, SSS, Driver’s license, Voter’s ID) (Important note: Photo and Signature on the ID should be clear) 

b. Billing Statement (e.g. Credit Card bill, Utility bill, Bank Statement). 

- The Billing Statement could be under the name of parents, siblings or spouse as long as the Surname is the same as the applicant's.  

- For OFWs who don't have any Billing Statement, a copy of Employment Contract showing the current address would suffice.  

- All other documents to show proof of address in the absence of Billing Statement are subject to approval. 

(Important note: Name, Address and Date should be present in the statement. It must be recent, no later than 3 months past) 

Additional Documentary Requirements:

For Resident Foreign Citizens
Alien Certificate of Registration or Work Permit from DOLE

For Non-Resident Foreign Citizens:
Authentication of a photocopy of Passport
Proof of Income

Step 4. Submit in person or mail all the documents to: 

COL Financial Group, Inc.
2403-B, East Tower, Philippine Stock Exchange Center, 
Exchange Road, Pasig City 1605 Philippines 

OR you may also have the forms picked up by COL's messenger if you are within the metro.  Simply make a request by calling their hotline 6515888.

Step 5.  Wait for confirmation/approval from COL via email. (Waiting period could be from 3-6 days from the time the application was received. Please check your Spam folder  if you have not received the email within this period, or follow it up with the head office by calling up their hotline 6515888 or emailing helpdesk@colfinancial.com). 

You will be given a COL Financial account number which you will then use to fund your account. 

Step 6. Once approved, you may start funding your account via the options listed below.  (Note:  For personal appearance, you may deposit your initial investment directly with the Business Center Cashier upon submission of your application.)

a. Online Banking (Online Bills Payment) 

BPI - www.bpiexpressonline.com 
BDO - www.mybdo.com.ph 
Metrobank - www.metrobank.com.ph 

b. Over-the-counter Bills Payment 
BPI, BDO or Metrobank branches 

c. Business Center Cashier 
COL Financial Group, Inc.
 2403-B, East Tower, Philippine Stock Exchange Center, 
Exchange Road, Pasig City 1605 Philippines 

* CHECK should be payable to COL Financial Group, Inc.

d. Overseas Remittance 


(Note: It is IMPORTANT to indicate the COL FINANCIAL ACCOUNT HOLDER’S NAME and COL ACCOUNT NUMBER when making payments to ensure proper and timely credit to your account.) 

Step 7. Once your account has been funded, your log in details (COL username and password) will be sent to you within 24-48 hours via email.  (By experience, the waiting period for the log in details is 3-5 business days).

Step 8. Once you have received your log-in details, please wait another 24 hours before your funds become available for you to start buying stocks (as recommended by Bro. Bo Sanchez in his Stocks Update).  Please read 'How To Buy Stocks' for tutorial.

Step 9. Fund your account regularly (monthly). It does not matter how much you deposit, as long as it is REGULAR. That is what Bro. Bo wants for his Truly Rich Club members - that you grow your investments to enjoy financial freedom when you retire. 

Thanks & God bless,



54 comments:

  1. miss joey, do i need to fill up also the secondary account holder details? if yes, who would that be? does this mean a beneficiary? I am going to open an account for myself. I wonder what this secondary account holder means.

    ReplyDelete
    Replies
    1. You don't need to fill out the secondary account holder unless you want a joint account with another person (spouse, sibling, child, etc.)

      Delete
    2. Hi Trish. Just leave it blank if you are opening an individual account. Now, for joint accounts, it can be with anyone -- spouse, parent, any relative, friends, enemies, etc. Accounts for minors are called ITF accounts (In Trust For) -- see my separate post on that subject.

      Delete
  2. I have a question. Where does all of my earnings in the stocks go? Can I get some from time to time just like a bank?

    ReplyDelete
    Replies
    1. It's all in your account. If you wanna withdraw, it's as easy as 1, 2, 3 just like how I blogged about it here (How to Withdraw from COL)

      Delete
  3. Wow, this is cool another way to help us save something that we've been working for. .

    ReplyDelete
  4. Anyone who has the means must make passive investments. Just be thorough in choosing the right investment package for you.

    ReplyDelete
  5. Is there a seminar for people who are interested in joining here? I bet that free seminars and coaching would better encourage potential joiners to invest their money here.

    ReplyDelete
    Replies
    1. yes. visit COL Financial's site at www.colfinancial.com

      Delete
  6. Are there any personal testimonials we can read somewhere? It would be very interesting to learn from people who have already invested here.

    ReplyDelete
    Replies
    1. We, at the Truly Rich Club of Bo Sanchez, have tried and are happy with the outcome, so far. My ALI stocks are earning me 87%-98%. Most of the stocks in my Portfolio earn over 30%

      Delete
  7. I've been meaning to invest in the stock market as guided by Bro. Bo. But it's always delayed! Your blogpost is reminding me to do it once and for all! Thanks :)

    ReplyDelete
    Replies
    1. Now is the perfect time. Take advantage of the power of compounding!

      Delete
  8. I heard already about this kind of passive investment the difference from other is not just financial assistance or advice but also spiritual guidance we can get in here..

    ReplyDelete
  9. I've always wanted to start investing on stocks, but I have no guts doing it.
    Maybe, I don't know the ins and outs.

    ReplyDelete
    Replies
    1. There are countless of blogs abt it.

      Delete
  10. I think I may have a church-mate who's in COL :) I've been speaking with him regarding my interest to sign up.

    ReplyDelete
    Replies
    1. Forms are downloadable here. Too bad, COL no longer has the referral program where people get paid referring investors. Your church-mate would have gotten something sana if you sign up.

      Delete
  11. Wow, thank you so much for the step-by-step tutorial. I've been really wanting to open a COL Account.

    ReplyDelete
  12. Great step by step guide. Thanks for this, will try it out very soon!

    ReplyDelete
  13. This is the first time I've heard of this. Check ko muna :)

    ReplyDelete
    Replies
    1. Their site is www.colfinancial.com (foremerly citiseconline)

      Delete
  14. I have a little problem with my proof of billing since we transferred residence.
    I have been offered in a forex trading but am afraid of the ins and outs there.

    ReplyDelete
    Replies
    1. Don't go into forez if you have little knowledge abt it or you'll just be burned. Try the slow and steady way which is long term investing (5-10 yrs).

      Delete
  15. hi miss joey, i have all my forms completed except for the billing statement. I am an OFW here in riyadh. our contract does not state any address. Can i send scanned and printed billing statement from the Pinas or will they really require the original copy. thanks...

    ReplyDelete
    Replies
    1. Hi. COL needs the original app form and signature cards. The rest of the docs may be scanned and emailed or faxed. So, just have your billing statement emailed or faxed

      Delete
  16. thanks Maam Joey this is very helpful. submitted my requirements last friday but hasn't heard from COL yet. sent it through LBC since i'm not from manila. how long do COL usually contact applicants for feedback? thanks.

    ReplyDelete
  17. oops their email went to my spam folder... will start funding my account ASAP! :D

    ReplyDelete
  18. hi Ma'am joey! Really interested in opening a COL Account, but I don't have any billing statement since we're just renting a room in a small "squatter's area"..Can I use a photocopy of my school's statement? What other options can I do? Thanks!

    ReplyDelete
    Replies
    1. If you don't have a billing statement, you may wanna go to COL's ofc to apply personally. That requirement of bill statement is only for non-appearance.

      You may likewise use you landlord's bill, I guess, and send a copy of your Lease Contract along.

      Delete
  19. Hi Ma'am Joey,

    Just like to ask whether there is another way of sending our completed forms and relevant documents to COL Financial? Can we scan our documents and send it thru an email?

    Cheers,

    Roji

    ReplyDelete
    Replies
    1. COL needs the original application form and signature cards. But for the additional documents, you may just send them via email or fax.

      Delete

  20. Hello Sis!

    May i know how long does it take for COL to send their confirmation or approval of applications? Medyo excited to start na kasi eh. Thanks!

    ReplyDelete
  21. hi ms joey,

    I read your blog,since I wanna know how to open an account with COL financial even if I'm here overseas.and thank you I have found you..I already open an account with BPI and the representative will activate my account so that I can fund...Same question from the preceding inquiries, Is it possible to scan and send it via e-mail all the required documents?

    ReplyDelete
    Replies
    1. Congrats! You have taken your first step to becoming financially free.

      Same answer as above.

      Are you a member of TrulyRichCLub yet? If not, then feel free to click on any TRC links here on my blog. You'd be getting more than what you pay for each month, I guarantee it!

      Delete
  22. Hi Joey,

    i have question regarding sa acct type, di ba may minimum na 5k (COL Starter), pag umabot ng P25k yung investment mo sa pag huhulog mo monthly, magiging COL Plus ba ung account type?

    Thanks!

    ReplyDelete
  23. Hi. It's not automatic. You;d have to request for an upgrade. But you don't need an upgrade coz you're not gonna be an active trader, are you? COL Plus gives you a more dynamic homepage where there'd be streaming quotes and all, which you probably won't need as a long time investor. It'd only slow your upload time esp if your internet connection isn't that fast.

    ReplyDelete
  24. Here's a video on how to enrol to col Financial http://www.youtube.com/watch?v=-Tiowv9foyA

    ReplyDelete
  25. Hello! I just very recently (as in last night;)) joined the Truly Rich Club. And as a newbie, i don't know what should I do first, however I received the email from you as well as Bo Sanchez regarding opening an acct to start investing. I currently am residing in US and I read that the documents needed by COL should be certified by Philippine Embassy. My problem is I don't live anywhere near Philippine embassy. Should I still need to certify the documents like the utility bill? I am in great anticipation on how to start this so I can help and share the blessings.

    ReplyDelete
    Replies
    1. Are you still a Filipino citizen just residing in the US? Or are you already a US citizen?
      If yes on the first question, no need to authenticate any of your documents. That requirement is only for non-resident FOREIGNERS. For Filipinos, whether living here or abroad, it's the same requirements.

      If yes on the 2nd question, then have the copy of your ID (passport or any government ID) authenticated. Sorry, but that's a requirement. You would be investing in Phil stocks as a foreigner, so you need to comply. Thanks.

      Delete
  26. ask ko lang po kung mag open ka ng account sa COL eh hindi na ba kailangan mag open ng bpi trade? at pwede po bang gamitin ung bank statement as one of the requirement sa application for COL?tnx

    ReplyDelete
    Replies
    1. It's the same platform so just open 1, whichever you choose, except that COL has the lowest fees, no hidden charges and most importantly, Edward Lee who is the owner of COL is also the financial mentor of Bro. Bo, so we at TRC get 'special treatment' coz it's a hands-on mentoring.

      Yes, you may use a bank statement as a billing requirement.

      Delete
  27. required po ba yung secondary account holder? bago lang po kasi ako, eh willing po talaga ako mag invest. salamat!

    ReplyDelete
    Replies
    1. For joint or ITF accounts, yes. For individual accounts, no. pls read 'How to Properly Fill Out COL Forms'. Thx

      Delete
  28. Hi Joey. Ask ko lang if pwede ba ma-approve kahit di ko pa ma-fill up yung bank account details?

    ReplyDelete
  29. pano po kung wala akong bpi bdo o metro bank ang hawak ko lang pong banko ay pnb hindi narin po pinapayagan ang mga ofw dito sa saudi na mag open account ng banko sa pilipinas kahit anong klaseng banko pa,,ung pnb na hawak ko 2009 pa to kaya di to ko na save ang pera ko pwede ko ba gamitin to pang fund sa colfinacial o pang enrol ng 5k.kung di pwede ano pa ang magandang options.meron po ba.

    ReplyDelete
  30. is it ok to use a credit card billing statement from malaysia... OFW po kasi ako...

    ReplyDelete
  31. pwede pa ban baguhin yung bank account na enroll n sa col financial

    ReplyDelete
  32. We have a joint account in col if we withdraw our fund it is possible to be deposited on primary account holder

    ReplyDelete
  33. hi i would like to open an account for colfinancial, but my problem is i dont have any bank in the philippines, will col financial will still allow me to open an account?

    ReplyDelete