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Jan
9
2013

Savings and Remittance Options for OFWs

Philippine Banks with Remittance Services for OFWs

United Coconut Planters Bank (UCPB) U-Remit

  • No initial deposit requirement and no maintaining balance for U-remit ATM Savings Account
  • Get P200.00 or US$5.00 instant credit
  • Direct credit to their other local bank accounts
  • For beneficiaries with no UCPB account, they can still credit their remittances directly to your beneficiary accounts maintained in other local banks.
  • Beneficiaries with no bank accounts or still prefer to receive cash, can pick-up remittances through over-the-counter at 183 UCPB branches nationwide or over 1,400 M Lhuillier branches nationwide

Banco De Oro (BDO) Kabayan Savings Account

  • Remittance is credited immediately to the beneficiary’s BDO Kabayan Savings
  • With BDO Kabayan Savings ATM Debit Card, withdraw anytime, anywhere from over 11,000 BDO, MegaLink, Expressnet and BancNet ATMs across the Philippines, and pay for items at SM and other accredited stores with point of sale (POS) terminals.
  • It comes with a passbook so one can monitor your remittance transactions
  • They have a system where one can check the status of their remittance online by simply entering a reference number.

BPInoy Remittance

  • No initial deposit required.
  • No maintaining balance required as long as there is a remittance transaction at least once every 6 months.
  • Earn higher interest, better than any other regular savings account.
  • Access your account through over 9,000 Expressnet, Bancnet, and Megalink ATMs nationwide.
  • Withdraw cash from over 1 million Cirrus-affiliated ATMs in over 210 countries worlwide in the currency of the country you are in.
  • Enjoy cashless shopping via the Express Payment System (EPS) at accredited establishments nationwide. No enrollment required.
  • Monitor your account balance, transfer funds, pay bills or reload cellphones through BPI ATMs,  BPI Express Phone, BPI Express Online or even via your cellphone with BPI Express Mobile.
  • Open an account from anywhere in the world — online.

Note: You can contact the bank company to get more details about their services.

See other banks with savings and remittance options for OFWs.

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Published in: OFW Tips and Guides


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