MONEY MATTERS : HOW TO OPEN A CITISEC ONLINE (COL) ACCOUNT?

It's about time.

More often than not, investing in something is 100% your preference. You can save / invest in banks, mutual funds (think Paluwagan), insurances or the stock market. Each product has its pros and cons and there's no best slash 100% sure way among them all. There's always an element of risk in money matters. Should you want to familiarize yourself on basic things like why you should save, you can click HERE. Or what's the difference between Saving vs. Investing, click HERE.

I've thought about this long and hard. If you've been my blog-friend since January, you'll notice that this very thing is my Springboard #1: Earn a passive income, click HERE.

After reading one too many reviews plus face to face conversations with my close friends who's into investing, I've decided to finally invest. My online brokerage of choice? COL Financial.

 You can google about COL Financial, of course. However, on this post, expect more tips from someone who personally went to COL Financial office and talked to one of their representatives. Hello Ms. Jackie! ☺

Before we start, please know that I am not paid to write this post. I am not an employee or connected with COL other than me being their client. As with my previous blog reviews, I'm sharing this to you because of 2 things: I like to impart my experiences with a product / company and I am one happy client. I can't contain the joy so here am I sharing this info. In so many words - I won't be getting anything (commission, perks, etc.) by writing this post. All I want is for us to be aware that WE HAVE A CHOICE TO BE RICH-ER. Maybe not tomorrow, but one step at a time. Bow. ☺

Here are 5-easy steps on how to open a COL account:

Step #1. Choose your account type. 
Think of this as a choice between Happy Meal #1, Happy Meal #2 (with an Upsized Drink) and Happy Meal #3 (with Large Fries). Oversimplifying? Not really. It's just a choice between what you can afford to invest.

♣ Tip: It's highly recommended that you start off as COL Starter. Since we want to invest (as opposed to trade), we can familiarize ourselves first and upgrade once we know the ins and outs.

SOURCE: COL Financial

 *****

Step #2. Fill out our application forms.
Think of this like opening your own bank savings account. You fill out a form and input your signature specimen. You can download the complete personal form by clicking HERE.♣ Tip: As early as now, I'd like to share that you have the following options on how to send your forms: 

* Go to COL office personally, or

* Scan the docs and e-mail them, or

* Ask for COL's assistance and request one of their messengers to pick your documents from your office, or

* Send via courier

For more details on the last 3 options, you can email helpdesk@citiseconline.com, for your convenience.

Step #3: Prepare additional requirements. 

Here's the screen shot from COL. ♣ Tip: If you'll go to COL personally, you can hand over your ID's to COL representative. They'll be happy to photocopy your ID without any cost.

♣ Tip: If you opt to send the documents through other means, remember that the billing address on your billing statement should be the same address that you'll write on their forms. Notice that OFW's can open their accounts too! That's what Resident Foreign Citizen is for.

SOURCE: COL Financial

Step #4: Submit forms and requirements

♣ Tip: I suggest that you visit COL if you can. That way, you can have a glimpse of their 'physical' existence. Also, you'll have the opportunity to ask questions and get real time answers straight from COL representatives. Complete address below:

2403-B East Tower, PSE Centre
Exchange Road, Ortigas Center,
Pasig City, Philippines 1605

However, if it's not possible, you can always utilize some other ways to open the account. See Step #2.

Step #5: Fund your account

Final step! Think of this step as making deposits in your bank account. Only difference is we're looking at a general 10% above rate of return! Yay! 

♣ Tip: Personally, I did deposit my money on COL Business Center. Since I was already there, I headed straight to their cashier. Upon receipt of your money, you'll be given a copy of a Provisional Receipt, sample below:

♣ Tip: After my initial deposit, I now fund my account via online bills payment. I have a BDO online account and based on experience it will take about 24 hours for my fund to be reflected on my COL account. BPI online bills payment have a real time effect. Meaning, after you transfer your fund, count 10 mins. or so and voila! You'll now see your fund updated. Don't ask me why! I don't know why! :))

♣ Tip: Ms. Jackie also mentioned that if we will fund over the counter (you'll go personally to any bank branch and deposit your money) - please accomplish the PAYMENT SLIP FORM and not the deposit form. Reason is by accomplishing Payment Form, they can determine your unique account number (who's the owner of the COL account). 

To all my friends who's been requesting this post, I hope you find this helpful. ☺

Lastly, some tips from someone who's been made rich from Stock Market. -CMK