I mentioned investing in my previous post. April of this year, I managed to open a COL Financial account. COL is an online stockbroker in the Philippines. You can start buying shares from public companies (such as Jollibee, Ayala Land, SM, Universal Robina) for as low as 5,000 pesos!
I’m living in England but I was able to open up a COL account. Here are 5 easy steps on how to do it: 1. Download the COL application forms:
a. Customer Account Information Form (CAIF)
b. Individual Disclosure Form
When filling in PDF forms, I usually use the Adobe ‘edit text’ feature. It’s a lot better than my handwriting at least. Please take note that you will need to provide your TIN number.
2. Photocopy of one valid government issued ID
I provided a photocopy of my SSS ID. In the forms, I used my maiden name because my ID and Philippine bank account are both in that same name.
*I enclosed the forms and photocopy of my ID in a regular white envelope. I posted it to:
COL Business Center
2403B East Tower, PSE Centre,
Exchange Road, Ortigas Center,
Pasig City 1605, Philippines
The postage fee I paid was roughly £2-ish.
3. Confirmation and Skype Conference
After 2 weeks, I received a confirmation from a COL staff that they’ve received my application. The email also stated that I need to make a video conference appointment through Skype. They only accept appointments during weekdays so make sure you have the extra time to do this.
During the call, you will need to bring the ID with you as they will need to capture it. After the call, I received another email that they’ve approved my application.
4. Funding of COL Account
A day after the call, I received my COL account number. However, I need to fund my account first to activate it. BPI is the bank I stated in the form, I immediately called customer support so I can add COL financial as bill to easily move funds.
COL also accepts other banks; please refer to their website for the full list and instructions.
5. Account Activation
After a day of funding my COL account, I received my account’s password.
It wasn’t difficult to open an account and start investing after all. I’m with COL for more less 9 months as of writing, and so far I have no complaints except for the time difference.
I’m enjoying it so far especially whenever I get dividends and gains in my account. It’s risky, but what is life without risks?
Happy investing!
Please note that I am not affiliated with COL Financial. This post isn’t funded and solely based on my experience. Invest at your own risk. Please do your research as investing in the stock market doesn’t guarantee profits.
Please note that I am not affiliated with COL Financial. This post isn’t funded and solely based on my experience. Invest at your own risk. Please do your research as investing in the stock market doesn’t guarantee profits.
**Update: Please take note that process/fees may have changed. COL now accepts online registrations.
