How to open COL Financial account to start your Investing Career

It's been a year since I applied for a COL Financial (formerly known as Citisec Online) account! I decided to open an account to invest some of my money in buying stocks; to own shares issued by different companies and corporations.
how to open or apply for a col financial account

Step 1: Choose account type - You can choose between this 3 account type:
  • COL Starter (minimum investment of P5,000): An entry-level account suitable for long term investing. Provides access to basic research reports, standard market information, and end-of-day charting data.
  • COL Plus (minimum investment of P25,000): For active traders. Provides streaming quotes, comprehensive research reports and live chart data with some customizable features.
  • COL Premium (minimum investment of P1 Million): For the premier investor. Provides access to all available features and a personal relationship manager dedicated to assist you.
In my case, as a beginner in the Stock Market, I applied for a COL Starter account. Don't worry about how to upgrade your account in the future. Your account will be automatically upgraded by COL Financial once your account reached the minimum investment allowed per account type. Each account type has also comparison when it comes to features.

Step 2: Fill out Application Form -

  • Download and Print out the Application Form on this link - COL Financial Individual Forms.
  • Completely fill out the forms Customer Account Information Form (CAIF) and Foreign Account Tax Compliance Act (FATCA). Note that Tax Identification Number (TIN) is required! For TIN Application, please refer to this link - TIN Application Procedure.
  • The Online Securities Trading Agreement (OSTA) should be read and kept by you as an account holder. It contains the terms and conditions between you and COL Financial as your online broker.

I applied for a TIN in the Bureau of Internal Revenue District Office near me. Requirements to apply for TIN is PSA Birth Certificate (formerly known as NSO). There's no payment anyway unless you need a TIN ID.

Step 3: Prepare other important requirements - You need at least one (1) Photocopy of valid government-issued ID. It can be Philippine Passport, Voter's ID, PRC ID, Postal ID, TIN Card, PhilHealth Card, Birth Certificate, etc.

Since I have my Postal ID, I used that one. Take note, photo and signature must be clear!

Step 4: Submit forms and additional requirements - You have two options in submitting your forms!
  • You may personally submit originally signed forms and clear ID documents to COL Financial or through iRemit branches.
  • You may also send the originally signed forms to COL Financial's Business Center. Once they receive your documents, a sales officer will review your application and schedule you for a video conference call for information verification.
Since I have no time to travel from Nueva Ecija to Manila, I chose to send my forms and other needed requirements using LBC Express using the COL Financial address below.
COL Investor Center - Makati
Ground Floor, Citibank Tower,
Valero corner, Villar Streets,
Makati City 1227, Philippines

Step 5: Start to fund your account - After waiting for 3-5 working days since I submitted my documents to them, they contacted me and scheduled for a skype video call. Yes, through Skype!

After 3 working days, I received an email from them that my account is now ready for transactions! I used to fund my COL Financial account using BDO Internet Banking service.
Ericson Felipe

Erik is a blogger and developer from the Philippines, dubbed as The Geeky Promdi.

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