Working Pinoy » BDO

BDO Bank Rules — Banco de Oro Updates, Reminders

Nors — Mon, 20 Jun 2011 11:41:46 +0000

Here are some updates on BDO bank rules for customers. Some are new; the others are reminders.

Based on new BDO brochure:

Maximum amount of withdrawal per day = 50,000 pesos
Maximum number of withdrawals per day = 5 times
Minimum amount of withdrawal per transaction at BDO ATMs = 200 pesos
Maximum amount of withdrawal per transaction at BDO ATMS = 25,000 pesos
Fee for Withdrawal at the ATMs of other banks = 11 pesos
Fee for balance inquiry at the ATMs of other banks = 2 pesos
Withdrawal fee at MasterCard Cirrus and Visa Plus ATMs = US$ 3.50
Balance inquiry fee at MasterCard Cirrus and Visa Plus ATMs = US$ 1.00
Denied Transaction at MasterCard Cirrus and Visa Plus ATMs = US$ 1.00
Fee for not maintaining the average daily balance = 200 pesos
Maintaining balance for peso ATM accounts = 2,000 pesos
Maintaining balance for peso passbook accounts with or without ATMs = 5,000 pesos
Maintaining balance for SSS Pension accounts = 100 pesos
You can make a checkbook request via BDO ATMs. It’s free.
When you open a new account, you need to:

- be physically present at the bank (not representative, not even family member)
- bring at least two valid IDs (original and clear photocopies)
- bring a recent 1 x 1 photo

Based on personal experience:

At BDO branches inside SM Malls, you can deposit to BDO Cash Cards only up to 6 pm.

- If you’re depositing to more than one BDO Cash cards, you pay 25 pesos for the second deposit. If you don’t like to pay, fall in line again to deposit to the second Cash card.

- You’re not allowed to deposit to a BDO payroll cash card over-the-counter. The teller said it’s because it’s a company-issued cash card. This means you can no longer use the card for your own personal use if you leave your company. (Siempre that means bumili ka raw ng bago para sa sarili mo.)

But I checked if I can deposit to my payroll cash card online, and it worked. (Hope hindi nila i-disable ito. We find ways, di ba sabi ninyo, BDO?)

- If your account is ATM-based (walang passbook), you pay 100 pesos if you withdraw at the counter. Pero kapag nakawidro ka na ng 50K sa ATM, and you need some more, at marami ka pang pera, you can withdraw over the counter for free.

From the BDO website:

BDO account numbers have been changed from 10 digits to 12 digits. But don’t worry, you don’t need to do anything about your accounts; BDO will make the needed changes in your records. You can still use your 10-digit numbers, but you’re encouraged to begin using the 12-digit when you’re depositing, although not yet required.

For peso savings and checking accounts: 00 is added before the 10-digit number.
For US dollar savings accounts: 10 is added before the 10-digit number.
For third-currency savings accounts: 30 is added before the 10-digit number.

BDO Kabayan Maintaining Balance
BPI, BDO, or Metrobank Fees — Why Keep Paying Them?
Savings Accounts in the Philippines with the Lowest Maintaining Balances
BDO Remittance from Australia — Money Transfer to the Philippines

Wells Fargo — Send Money from the U.S. to the Philippines

Nors — Sat, 30 Apr 2011 23:31:56 +0000

Wells Fargo, the fourth largest U.S. bank in assets, has entered the remittance business,

and if you’re in the U.S., you can try using this to send money to your family or recipient in the Philippines if it’s really the cheapest way for U.S.-Philippine remittance.

At the website of the WorldBank, its chart ranks Wells Fargo as charging among the lowest total remittance cost, which refer to transfer cost plus foreign exchange cost.

Wells Fargo says that its remittance fee is only:

$7 if cash
$5 if from a Wells Fargo bank account.

You can send money for pick-up or deposit at any branch of the following:

Bank of the Philippine Islands (BPI)
Banco de Oro (BDO)
M Lhuillier — (cash pickup only)

Other advantages of using this service to send money:

No enrollment fee or no yearly or monthly maintenance fee
No service fee to be paid by your recipient
Competitive exchange rate
Maximum amount you can send is $3,000 per day for BDO and BPI remittances and $1,000 for M Lhuillier remittance.
You can get a discount if you’re sending from a Wells Fargo checking account

Wells Fargo ExpressSend service hotline for sending: 1-800-869-3557
hotline for more information: 1–800–556–0605

BDO Correspondent Banks for Sending Money to the Philippines
Top 10 Banks in the Philippines based on Assets, Deposits and Capital
Philippine National Bank Branches and Remittance Centers in California

BDO Remittance Partners in Switzerland

Nors — Sat, 30 Apr 2011 01:36:08 +0000

You can send money to the Philippines from Switzerland through the following BDO remittance partners:

Envio Seguro GmBH

Münzgasse 2 – 2nd Floor, Winterthur, 8400
Switzerland

Paco Services SARL
Rue De Terreaux 18, 1003 Lausanne
Switzerland

Money & Com SA
Place de Montrillant 2, Case Postale 2542, 1211
Geneva 2
Switzerland

LCC Trans Sending Ltd.
29, Rue Rousseau
1201 Geneva

You can remit money to your family or recipient in the Philippines through the following ways:

Credit to a BDO account
Credit to an account in another bank
Door-to-door delivery
Pick-up from any BDO bank, SM department store, SM business center, Save More, or BDO partner.

BDO Philippines Remittance Partners in Israel

Nors — Thu, 28 Apr 2011 04:01:43 +0000

You can send money from Israel to the Philippines thru the following BDO Remittance partners:

Filstar
42 Agripas St.
Jerusalem, Israel

Filstar
Unit 4137 New Central Bus Station
108 Levinsky St.
Tel-Aviv, Israel

Money Express (Money Change International)
28 Raziel St. Yafo
Tel-Aviv, Israel

Transur
9 Haaliya St.
Tel-Aviv, Israel

GMT
1 Ben Yehuda St.
Tel Aviv, Israel

LBM
Levinski 118
Tel Aviv, Israel

WIC (Worldcom International Com)
107 Levinski St.
Tel Aviv, Israel

Alas Money Transfer
125 Levinsky St.
Tel –Aviv, Israel

Forex Change
29 Herzel St.
Haifa, Israel

Viancom
Hertzl 78 Rishon
Lezion, Israel

Avni Trading Pinoy Remittance
No. 4 Lillenblum St.
Netanya, Israel

Your Philippine recipients can receive their remittance thru these ways:

1. Door-to-door delivery
2. Pick-up from:

BDO branches
BDO Remit counters in:
SM department stores
Savemore
SM Business Services
Global Pinoy Centers
Prime Asia Pawnshops
Rural Bank partners

3. Withdrawal from their BDO accounts
4. Withdrawal from accounts in other banks

OFWs Can Send Money to the Philippines Thru BDO Remit
BDO Kabayan Savings, BDO Remit Cash Card for OFWs

Top Banks in the Philippines Based on Return on Equity

Nors — Fri, 08 Apr 2011 01:42:49 +0000

Top Philippine Banks Based on ROE

As an investor in bank stocks, certainly you want your bank to have a high Return on Equity (ROE) rate. As investors know, ROE represents a company’s net income in comparison with stockholders’ investments. ROE = net income divided by stockholders’ equity.

But as a plain bank customer, do you want your bank to top bank rankings based on ROE?

Oftentimes we ask ourselves why banks give so little interest on our time deposits and then later we see them declaring super high levels of net income and ROE.

Based on Return on Equity, here are the top banks in the Philippines as of September 2010:

1 East West Banking Corp. – 34.27 %
2 Standard Chartered Bank – 23.09 %
3 Security Bank Corp. – 22.98 %
4 Hongkong & Shanghai Banking Corp. – 20.70 %
5 Land Bank of the Philippines – 18.64 %
6 Bank of the Philippine Islands – 17.65 %
7 Deutsche Bank – 17.20 %
8 China Banking Corp. – 16.61 %
9 BDO Private Bank – 16.37 %
10 Union Bank of the Philippines – 16.06 %
11 Citibank N.A. – 15.70 %
12 Rizal Commercial Banking Corp. – 15.63 %
13 United Coconut Planters Bank – 15.63 %
14 Internationale Nederlanden Groep BK – 15.12 %
15 Asia United Bank Corp. – 15.02 %
16 Development Bank of the Philippines – 14.49 %
17 Philippine Trust Co. – 13.14 %
18 Banco de Oro Unibank – 11.12 %
19 Philippine National Bank – 10.89 %
20 Bank of Tokyo-Mitsubishi UFJ – 9.83 %
21 Chinatrust Philippines – 9.26 %
22 Philippine Veterans Bank – 7.84 %
23 Korea Exchange Bank – 7.81 %
24 Mega International Commercial Bank – 7.48 %
25 Metropolitan Bank & Trust Co. — 7.24 %
26 Allied Banking Corp. – 6.96 %
27 Bank of Commerce – 5.25 %
28 JP Morgan Chase Bank N.A. – 4.21 %
29 Royal Bank of Scotland Philippines – 1.94 %
30 Mizuho Corporate Bank Manila – 1.11 %
31 Bangkok Bank Public Co. – 1.05 %
32 ANZ Banking Group – 0.09 %
33 Bank of America N.A. – -0.02 %
34 Bank of China Manila – -1.47 %
35 Maybank Philippines – -1.85 %
36 Al-Amanah Islamic Bank of the Phil – -6.00 %
37 Philippine Bank of Communications – -11.92 %
38 Export and Industry Bank – -36.15 %

It’s interesting to note that the banks in the list above — those with highest ROE — are not the banks with the highest deposits, assets or capital.

Look at Metrobank — it’s second in total deposits, second in total assets, and second in total capital as of Sep 2010, but it’s 25th in ROE. Does this mean Metrobank is not taking much from customers?

Based on Total Deposits:

1. Banco de Oro Unibank – 693.903 billion pesos
2. Metropolitan Bank and Trust Co. – 570.332
3. Bank of the Philippine Islands – 494.465
4. Land Bank of the Philippines – 398.668
5. Philippine National Bank – 234.086
6. China Banking Corp. – 189.121
7. Union Bank of the Philippines – 184.719
8. Rizal Commercial Banking Corp. – 172.048
9. Citibank NA – 140.905
10. United Coconut Planters Bank – 136.553

Top Banks in the Philippines Based on Alexa Ranking

Top 10 Banks in the Philippines based on Assets, Deposits and Capital

List of Banks in the Philippines — Universal Banks, Commercial Banks

Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks

Most Popular Banks in the Philippines Based on Compete

Nors — Wed, 06 Apr 2011 17:31:05 +0000

Here are the most popular banks in the Philippines, based on Compete.

Compete is a web service that compares the performance of bank websites in several areas. I checked the performances of these banks online on only two areas — number of unique visitors and number of visits — on February 2011, which is the latest update on Compete.

Top Banks Based on Number of Unique Visitors to the Bank Website in a Month

1. BPI Bank of the Philippine Islands
bpiexpressonline.com — 10,616 unique visitors

2. PNB Philippine National Bank
pnb.com.ph — 9,792

3. BDO Banco de Oro Unibank
bdo.com.ph — 9,022

4. BDO Banco de Oro Unibank
mybdo.com.ph — 7,067

5. CITIBANK Citibank NA
citibank.com.ph — 4,077

6. RCBC Rizal Commercial Banking Corp.
rcbc.com — 2,987

7. METROBANK Metropolitan Bank and Trust Co.
metrobank.com.ph — 2,969

8. UNION BANK Union Bank of the Philippines
unionbankph.com — 2,891

9. EASTWEST Eastwest Banking Corp.
eastwestbanker.com — 2,517

10. HSBC
hsbc.com.ph — 2,298

11. LANDBANK Land Bank of the Philippines
landbank.com — 1,087

12. CHINABANK China Banking Corp.
chinabank.ph — 743

Note: I checked only the Compete rankings of bank websites that have been ranking high on Alexa.

Top 10 Banks in the Philippines based on Assets, Deposits and Capital

List of Banks in the Philippines — Universal Banks, Commercial Banks

Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks

Top Banks in the Philippines Based on Alexa Ranking

Nors — Mon, 04 Apr 2011 16:51:43 +0000

Here are the top banks in the Philippines based on their Alexa rankings as of April 4, 2011. In other words, they are the most searched banks online in the Philippines.

The banks’ high rankings are a good indication:

that their products and services are attracting strong interest from new and old customers and
that their Internet banking systems are being used by more banking clients.

Only 6 bank websites were able to rank within the Top 500 Websites in the Philippines as of April 4, 2011.

unionbankph.com of Union Bank of the Philippines – Rank # 67
bpiexpressonline.com of Bank of the Philippine Islands – Rank # 69
bdo.com.ph of Banco de Oro – Rank # 154
mybdo.com.ph of Banco de Oro – Rank # 223
hsbc.com.ph of HSBC – Rank #255
citibank.com.ph of Citibank – Rank # 494

I looked for the rankings of the other biggest banks in the Philippines, and these are their rankings:

metrobank.com.ph of Metrobank — Rank# 631
eastwestbanker.com of East West Banking Corp. — Rank# 669
chinabank.ph of China Bank — Rank# 883
pnb.com.ph of Philippine National Bank — Rank# 1,296
rcbc.com of Rizal Commercial Banking Corp. — Rank# 4,090
landbank.com of Landbank — Rank# 13,857
standardchartered.com of Standard Chartered Bank — Rank#3,570 (global), ranking in the Philippines not posted
devbankphil.com.ph of Development Bank of the Philippines — Rank# 6,193,311 (global), ranking in the Philippines not posted
db.com/philippines/ of Deutsche Bank — Rank# 15,798

Alexa: Some say Alexa is not accurate because there are limits to its counting, but the other popular traffic estimator, Quantcast, also has limits, so Alexa can satisfy our purposes for the time being.

List of Banks in the Philippines — Universal Banks, Commercial Banks

Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks

Savings Accounts in the Philippines with the Lowest Maintaining Balances

Send Money from Qatar to the Philippines thru BDO Remittance

Nors — Sun, 03 Apr 2011 06:49:00 +0000

Here are the remittance partners of BDO in Qatar. You can send money to the Philippines from Qatar thru them.

Al Fardan Exchange
PO Box 339, Doha, Qatar

Gulf Exchange Co.
PO Box 4847, Doha, Qatar

Trust Exchange
PO Box 3002, Doha, Qatar

Habib Qatar
PO Box 1188 Mushirib St.
Doha, Qatar

Al Dar
PO Box 24048, Doha Qatar

Al Zaman Souq Najada
P. O. Box 23497 Doha Qatar

Islamic Exchange
P.O. Box 17349 Doha Qatar

Lari Exchange Company Qatar
Souq Ahmed Bin Ali, Doha Qatar

Doha Exchange Company Qatar
Souq Wafik, PO Box 936 Doha Qatar

Qatar- UAE Exchange Est Opp.Royal Plaza
Al Sadd Street Doha, Qatar
P.O. BOX – 31645 Doha Qatar

Qatar- UAE Exchange Est Level One
Opp.Carrefour City Center, Doha
P.O. BOX – 31645 P.O. Box – 31645 Qatar

Qatar- UAE Exchange
Est 138, Ali Bin Abdulla Street
6 Al Ghanim Al Qadeem (North) Doha, Qatar

Qatar- UAE Exchange Est Al Shafi Street
Opp. Al Shafi Mosque Al Rayyan, Doha, Qatar

There are no BDO correspondent banks in Qatar, so you can send money thru the remittance partners listed above.

Cash Cards for OFW Remittances to the Philippines

Nors — Sat, 02 Apr 2011 02:23:57 +0000

Here are Cash Cards or Debit Cards designed for OFWs sending money to their families and other recipients in the Philippines.

1. BDO REMIT Cash Card from Banco de Oro

You can read about this in this BDO Remit Cash Card article.

2. Global Filipino Card from Philippine National Bank PNB

Just buy the card; no need to open a bank account
No deposit requirement
No maintaining balance
No application fee
No processing fee
No ATM withdrawal fee at PNB ATMs
You can use it to pay at PayLink terminals
Your recipients will get text alerts when you fund the card
You can check your balance online
Earn reward points for every remittance
You can buy a card for each of your beneficiaries; no limit
Buy the card from any PNB overseas or local branch by filling up a form and presenting one valid ID.
You can apply for a card while overseas for your beneficiaries
Dormancy fee is 100 pesos

3. Metrobank World Cash Card from Metrobank

Get this card for free
You can get more than one card
Initially available at Metrobank branches in FB Harrison and Timog
Available abroad in certain Metrobank offices:

Hongkong
Osaka, Japan
Pusan, Japan
Tokyo, Japan
Seoul, Korea

4. OFW Cash Card from LANDBANK

No opening deposit
No maintaining balance
No dormancy period
No interest
ATM daily withrawal limit is 30k
Card is free, but replacement card costs 120 pesos
and reactivation costs 120 pesos
Valid for two years, can be reactivated
You can request for a statement for a fee
Bring proof you’re an OFW or beneficiary

Savings Accounts for OFW Remittances
Savings Accounts in the Philippines with the Lowest Maintaining Balances
Cheapest Checking Account in the Philippines
BPI and BDO Internet Banking — Free and Quick Ways to Send Your Children’s Allowance
Ofws Parents Take Advantage of Free Internet Banking to Manage Your Childrens Weekly Allowance
List of Banks in the Philippines — Universal Banks, Commercial Banks
Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks

Savings Accounts for OFW Remittances

Nors — Thu, 31 Mar 2011 00:59:20 +0000

Here are savings accounts designed by Philippine banks for OFW remittances.

1. BDO Kabayan Savings Account — BDO = Banco de Oro

You can read about this account in this BDO Kabayan article.

2. Global Filipino Deposit Accounts – PNB = Philippine National Bank

Both you and your recipient can open a savings account.
You can open:
– Peso ATM
– Peso passbook
– Dollar passbook
No opening deposit
No maintaining balance
Earn interest for balances of at least 10,000 pesos or $500

3. Abot-Pangarap Savings Plan — RCBC and RSB

This is a helpful plan. It encourages you to save something every month.
You will be given 2 accounts: your recipient’s account and your own savings account
A portion of the remittance will be credited to your savings account.

No opening deposit
No maintaining balance
Minimum balance to earn interest is 10,000 pesos
You can request for a statement of account

4. Overseas Kababayan Savings (OKS) Account — CHINABANK

No initial deposit
No maintaining balance
Minimum balance to earn interest is 1,000 pesos.
You can enroll this account in China Bank Online for free

5. Remittance Savings Account — Allied Bank

Initial deposit of 100 pesos
Maintaining balance of 100 pesos
Choose between passbook and ATM card
Minimum balance to earn interest is 3,000 pesos for ATM and 10k for passbook

Savings Accounts in the Philippines with the Lowest Maintaining Balances

Best Savings Accounts for Students in the Philippines

Top 27 Savings Banks in the Philippines — or Top 27 Thrift Banks

Best Savings Accounts for Students in the Philippines