Updated June 10, 2014:
BDO Kabayan Savings Account for OFWs
This is a special savings account for OFWs and their families in the Philippines.
You can open this account at any BDO branch in the Philippines, or at certain BDO remittance partners abroad.
- Can be in pesos or in U.S. dollars
- Initial deposit of 50 pesos for a peso account or $100 for a U.S. dollar account. (The teller may ask if you like to deposit 100 pesos)
- Present at least 1 valid photo ID and one 1×1 ID picture (The teller may ask for a second valid ID)
- The teller may ask for proof that you are receiving remittances, or that you will receive remittances, such as remittance receipt, OFW contract, or work visa
- No maintaining balance as long as you make at least ONE foreign remittance a year.
- You will receive a Passbook and an ATM Debit Card.
- For SEAFARERS: You can open a BDO Kabayan Shipping Dollar savings account with passbook for only US$10. Show one valid photo ID, your valid Seaman’s book, and one 1×1 ID picture.
- For Seafarers employed by POEA-accredited companies, you can ask your company to credit your allotment directly to your Kabayan dollar account.
- With your Kabayan savings account, you can arrange with BDO for the payment of your home loans and insurance premiums through BDO’s Auto-Debit Arrangement (ADA).
Check here BDO correspondent banks.
Check also this blogpost: What happens if your BDO Kabayan account DOES NOT receive at least one foreign remittance in a year?
BDO Remit Cash Card for OFWs
This card is similar to the regular BDO Cash Card, but it is a special cash card; you can get this card only abroad — in selected BDO accredited remittance companies. There are numerous BDO Remit offices, partners and agents worldwide, particularly in countries where there are a lot of OFWs.
This also has a higher load balance and deposit limit, compared to the regular BDO Cash Card. While the regular cash card is limited to a maximum balance of 10,000 pesos and 25,000 pesos, BDO Remit Cash Card can be loaded with up to 100,000 pesos.
You can send money directly to this BDO Remit Cash Card account.
Your and your beneficiary can also check the status of your remittance through the BDO Remit Status Inquiry on the BDO website. Go to bdo.com.ph. Click REMITTANCE SERVICES, and then click BDO REMIT STATUS INQUIRY.
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