Updated October 23, 2013
There are at least three ways for OFWs and other foreign-based Filipinos to open a Philippine bank account while abroad:
1. Open an account at the foreign branches or subsidiaries of Philippine banks with branches or subsidiaries abroad such as Philippine National Bank, Metrobank, and Bank of Philippine Islands.
However, most bank accounts opened with these foreign branches function as foreign bank accounts. If you transfer money online from a BPI Europe account to a BPI account in the Philippines, you cannot transfer directly. The transfer will pass through a remittance system, so there is a remittance fee charged.
The advantage of opening an account with a foreign branch or subsidiary of a Philippine bank are the lower cost and the faster processing due to the relationship between the Philippine bank and its foreign branch or subsidiary.
Some Metrobank branches like those in Japan now allow you to open Philippine-based E.T. Savings accounts for yourself and World Cash Card accounts for your beneficiaries.
BPI in Italy:
BPI Europe, Rome
Via dei Mille, 32, 00185
Tel.: (+39) 06-4452641
Fax : (+39) 06-4456310
BPI Europe, Milan
Piazza Del Duomo, 17, 20121
Tel: (+39) 02-83427962
Fax: (+39) 02-89092216
BPI in UK:
BPI Europe, London (Earl's Court)
26A & 27A Earl's Court Gardens
Tel: (+44) 207-8350088
Fax: (+44) 207-3731848
BPI Europe, London (Threadneedle)
4th Floor, 28/29 Threadneedle St.
Tel: (+44) 207-6389100
Fax: (+44) 207-6386838
Metrobank New York Branch
10 East 53rd Street
New York City
Tel: 1 (212) 832-0855 ext. 228
Toll free: 1 (800) 863-8762 (US only)
Fax: 1 (212) 223-0916
Mon to Fri: 9 am to 3 pm
Sat: 10 am 1 pm (remittance only)
METROBANK in JAPAN
Metrobank Tokyo Branch
Kandabashi Park Building
1-19-1 Kanda Nishiki-Cho
Chiyoda-Ku, Tokyo 101-0054
Tel: 81 (3) 5281-7281 / 81 (3) 5281-7210
Fax: 81 (3) 5281-7282
Mon to Fri: 9 am to 3 pm
1st & Last Sundays of the month: 10 am to 3 pm
Metrobank Osaka Sub-branch
1st Floor, Honmachi Central Bldg
4-2-5, Honmachi, Chuo-ku
Tel: 81 (6) 6252-1333
Fax: 81 (6) 6252-2226
Mon to Fri: 9 am to 3 pm
1st and last Sundays of the month: 10 am to 3 pm
METROBANK in Korea
Metrobank Seoul Branch
2nd Floor, 10, Sowol-ro,
Jung-gu, Seoul 100-704
Tel: 82 (2) 779-2751 to 52
Fax: 82 (2) 779-2750
Metrobank in China
Metrobank in Taiwan
Metrobank in Hong Kong
2. Open a BDO Kabayan Savings account or a BDO Remit cash card account in countries where there are BDO Remit offices. There are also many BDO remittance partners that offer this Kabayan savings account.
Here are some lists of BDO remittance partners:
Abu Dhabi, UAE
Switzerland, Norway, Netherlands
This BDO Kabayan account is a Philippine bank account. It's as if you opened an account at a BDO branch in the Philippines. If you send money to your account from abroad, you will pay a remittance fee.
When you open your acount at a remittance office, a few are able to give you immediately your passbook and atm card; most others ask you to return on a certain date because they need to get your passbook and atm card from BDO Philippines. After getting your passbook and atm card, you can start sending money to your account, but you cannot use yet your atm card. You will need to activate your atm card in the Philippines.
3. Open a deposit account online with BPI Direct Savings Bank
BPI Direct Savings Bank is the online bank of the Bank of Philippine Islands (BPI). It is an Internet bank. As of today, as far as I know, it's the only Internet bank in the Philippines. Wala itong branches na pisikal na makikita at pupuntahan ng mga depositors, pero BPI Direct customers can use BPI ATM machines and cash deposit machines to make deposits, withdrawals and other transactions.
For over-the-counter transactions, mamimili ang customer ng kanyang designated BPI branch at account opening.
Customers can also enroll in BPI Internet banking (bpiexpressonline.com) to do online banking.
To open a BPI Direct Savings account while abroad, go to bpidirect.com. You will fill up a form online and you will be given instructions via email on how to complete your account opening.
As of now, opening a BPI Direct account while abroad is open to OFWs and other Filipinos in:
- United Arab Emirates
- United States
Every BPI Direct deposit account owner is insured by the PDIC up to a maximum of 500,000 pesos.
What types of BPI Direct Savings accounts are available?
- Express Teller Savings
- BPInoy Savings
- Save-Up Automatic Savings + Insurance
- Maxi-Saver Savings
- Maxi-One Checking
- Time Deposits
For OFWs, the BPInoy Savings account is recommended, as this account was designed for Pinoys abroad.
- No initial deposit required
- No maintaining balance, but you must make at least one remittance every 6 months
- You can enroll it in Internet banking
- You earn interest if you maintain a daily balance of at least 500 pesos
- Annual interest rate of 1% is higher than many other regular deposit accounts
Open a Philippine bank account while abroad
BPI Cash Deposit Machines in Makati
BPI Cash Deposit Machines in Quezon City
BPI Cash Deposit Machines in Muntinlupa and Las Pinas
BPI Cash Deposit Machines in Pasig, Taguig, Mandaluyong, Caloocan