Updated March 2021
Yes, there are only two Philippine banks in the US licensed to operate as banks.
The other “Philippine banks” you might have encountered in the US are operating as remittance firms, money transfer operators or remittance partners of Philippine banks.
Philippine National Bank and Metrobank are the only Philippine banks licensed to offer banking services in the USA. They’re operating as US branches of the Philippine-based banks Metrobank and PNB.
METROBANK NEW YORK Branch
10 East 53rd Street
New York, New York 10022
Phone: 1 (212) 832-0855
Toll free: 1 (800) 863-8762
Fax: 1 (212) 832-0993
Email: customerservice@metrobankny.com
Business Hours:
Mondays to Fridays — 9am to 5pm
Saturdays — 10am to 1pm (for remittances only)
Website: metrobankny.com
Metrobank New York has been insured by the US Federal Deposit Insurance Corp. (FDIC) since June 1983 under FDIC No. 33656. Its primary federal regulator is the Office of the Comptroller of the Currency.
Metrobank New York is also a designated lender of the Export-Import Bank of the United States (Ex-Im Bank).
PHILIPPINE NATIONAL BANK NEW YORK Branch (Manhattan)
561 7th Ave. 2nd Floor
New York, NY 10018
Phone: (212) 790-9600
Email: newyork@pnb.com.ph
Business Hours: Monday to Friday — 9am to 3pm
Website: https://www.pnb.com.ph/newyork/
PNB New York Branch is licensed by the New York State Banking Department and also regulated by the Federal Reserve Bank of New York and the Bangko Sentral ng Pilipinas.
It is not a member of the US FDIC.
PHILIPPINE NATIONAL BANK NEW YORK Extension Office (Queens)
69-18 Roosevelt Avenue
Woodside, NY 11377
Phone: (718) 898-6113
Email: newyork@pnb.com.ph
Business hours: Mon to Fri — 9am to 3pm, Saturday — 9am to 1pm
PHILIPPINE NATIONAL BANK Los Angeles Branch
316 W. 2nd Street, Ste. 700
Los Angeles, CA 90012
(Bounded by Broadway and Hill Streets)
Business Hours:
Monday to Friday — 9am to 3pm
Saturday — 9am to 1pm
Closed on Sundays, federal holidays and Saturdays that fall before or after the federal holiday
Email for general enquiries: losangeles@pnb.com.ph
Email for loan inquiries: laophl@pnb.com.ph
General manager 213-401-1802
Operations head 213-401-1800 ext 214
Loan officer 213-401-1800 ext 212
Branch staff 213-401-1800 ext 201, 202 or 206
Fax: 213-401-1803
Website: PNB Los Angeles
PNBLA is regulated by the Federal Reserve Bank of San Francisco (FRBSF) and the California Department Business Oversight (CADBO).
You have a lot of other remittance options if you’re far from Philippine banks in the US.
There are US-operating remittance service companies owned by Philippine banks.
BDO Remit (USA) Inc.
BPI Express Remittance Corporation
Metro Remittance Center Inc. (U.S.A.)
Metro Remittance Center (California) Inc.
MB Remittance Center (Hawaii) Ltd.
PNB Remittance Centers Inc. (PNBRCI) — at least 46 PNBRCI branches across the US
RCBC North America
Filipino-Owned or Filipino-American Owned Non-Bank Money Transfer Companies that Send Money to the Philippines from the USA
- I-Remit Inc.
- Lucky Money Inc. (LMI Express)
- LBC Express
- MLhuillier Financial Services
- Johnny Air Cargo Padala (their website does not mention money transfer, but Johnny Air Cargo is in the World Bank Remittance price comparison chart for US-Philippines money transfers)
Filipino-owned or Filipino-American-owned money transfer companies
registered with the California Department of Business Oversight (DBO)under its Directory of Money Transmitters
- BDO Remit (USA) Inc.
- Mundial Corporation
- Lucky Money, Inc.
- M. Lhuillier Financial Services, Inc.
- Remittance Centers, Inc.
Reference: California Department of Business Oversight
dbo.ca.gov/directory-of-money-transmitters
US Bank-Owned Money Transfer Service
. Wells Fargo Express Send (through BDO, BPI, PNB, Cebuana Lhuillier and MLhuillier)
. Citibank Global Funds Transfer (Free transfers for account owners of Citibank Philippines)
International Money Transfer Operators that Send Money from the USA to the Philippines
. Moneygram
. Western Union
. Xoom
. Transferwise
. Remitly
. World Remit
. RIA
. Xpress Money
. Sigue Money Transfer (BDO, LBC, MLhuillier and Cebuana Lhuillier)
. Uniteller
. Transfast / New York Bay Remittance
. Small World
. Walmart2World Money Transfers (Powered by Moneygram)
. Pangea Money Transfer (download the Pangea Mobile App)
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what is the intrust rate for a savings account with bpi????
Hi Robert, did you mean an in-trust savings account for kids? Some years ago, BPI had special rates for kids’ accounts, but now, it’s the super low rate of 0.25% for most savings accounts. If you’re a Pag-ibig member, you can save in their MP2 savings program (maturity: 5 years). Their dividend rate in 2019 was 7.41%, much higher than banks’ time deposit rates.
So the intrust rates with bpi is at 7.41% right now for adults n kids???
Is there a Metrobank branch in Southern California?
Hi Liezl, sorry there’s no Metrobank branch in California. Metrobank has only one US branch, and that’s in New York City: https://www.pnb.com.ph/losangeles/. It’s PNB that has a branch in Los Angeles: https://www.pnb.com.ph/losangeles/
Thank you for the heads up.
accounts opened in metrobank or pnb become actual accounts in philippines, can someone from philippines deposit to this bank account?
Hi Miro, if those accounts are Philippine-based accounts, even if opened with assistance by the US branches, yes, anyone can deposit into those accounts here.
Can I have a bank account as a Primary to deposit & withdraw
And a Secondary just to deposit, NOT ABLE TO WITHDRAW ?
Hi Thomas, yes, you can open 2 accounts, but they should be of different types, like one debit card account (for deposit and withdraw) and the other is a passbook account (for deposit only), or a Top Savers account (PNB). With the passbook account, you can still withdraw, but DECIDE not to withdraw so you can save, and then when you have saved enough, put your accumulated money in a time deposit (one-year-term, auto-renew every year).
So if I open an account with MetroBank in NYC, and fund it, can I withdraw from Metrobank ATMs in PH using the new York-issued ATM card? Will there be fees involved?
Hi Raj, yes, just make sure the atm card you’re getting is linked with Visa, Mastercard (Cirrus or Maestro) or American Express and that your ATM PIN is 4 to 6 digits. The atm withdrawal fee for foreign-issued cards is 250 to 300 pesos per atm withdrawal (will be in pesos, conversion rate will depend on bank’s rate at time of withdrawal)
In Alabama there are some Metro Banks are those affiliated with the ones that’s in the Philippines.
Hi Anthony, no, Metro Bank in Alabama and other states are not affiliated with Metrobank in the Philippines.
If I open a PNB account in the Philippines, can I make transactions online from the States, particularly transferring money from this bank account to other bank accounts in the States? Thanks.
Hi Boy, fund transfers from Philippine-based accounts to accounts abroad can be made through wire transfer. I checked PNB’s wire transfer and I found out it can only be done over the counter, so you won’t be able to do wire transfer online while in the US. As of today, I think it’s only BDO that processes wire transfer online, so you might want to consider BDO. It also uses an OTP generator, meaning you don’t need a texted OTP to verify your transaction. Just activate all (debit card, online banking, mobile app, OTP generator, phone number and email) before going back to the US. BDO account should be in US dollars. Peso account does not have the wire transfer option. I checked also the fees: PNB’s over the counter wire transfer costs $75 plus $40. BDO’s online wire transfer costs $10 plus $25. I don’t know if there’s a fee to be charged by the receiving bank in the US. I think opening a BDO peso account together with a US dollar account will give flexibility.
Nora,
I started a Corp. in the Philippines with my wife’s family. It has been hell trying to open a corporate account. Landbank has given us the runaround nonstop. What are your suggestions to keep provincial family off 6 hour bus rides just to get turned away? They have every piece of required paperwork Articles of Inc., GIS, Etc. Etc.?
We’ve been working on this 5 months
Hi Larry, sad to say that opening a checking account here is also not easy, more so when opening a corporate account that involves more than checking. I don’t have experience in opening a corporate account, so I’m just assuming here, meaning I’m assuming that just like with checking account opening, banks also require familiarity (know-your-customer regulation in banking) or previous transactions with the ones opening a corporate account. Do the company owners have long-time (more than 6 months) personal savings/checking accounts with Landbank? On the other hand, is there no commercial bank nearer to your wife’s residence? Or is a single-proprietorship not viable with your business plans? Overall, I think it’s easier to open a business account at a bank where your wife or wife’s family members have active and well-maintained bank accounts. Or try Security Bank — they’re in expansion mode right now — they might be more flexible. Best regards
HI Nora. You did not mention Chase Bank . Like Wells Fargo, is Chase Bank have Express
Send .I want to send money to the Phil. thru Chase Bank.
Hi Natividad, no, sad to say, Chase Bank does not have a branded remittance service for Philippine recipients. But as with most banks, you can use wire transfer to send money internationally. However, with Chase Bank, you can send money to the Philippines thru wire transfer only if you have a business account. You can check here: Chase Bank USA’s wire transfer web page. JPMorgan Chase in the Philippines does not do retail banking; it services only corporations and institutions. You can also try XOOM or WISE — these are popular online remittance services.
Is there a Philippines bank in Maryland?aside from Metro bank and BPI in NewYork.
Hi Richie, none, there’s no Philippine bank in Maryland. If you’re looking for a remittance firm, there’s a BDO remittance partner there: Viamericas Corp., 7910 Woodmart Ave, Suite 220 Bethesda. Or you can use online remittance companies like XOOM, WISE or Remitly.
Which Philippines Bank in the United States can I open an account, checking & have no fee for transfer money from USA to the Philippines?
Hi Thomas, sad to say, there’s no Philippine bank or account that does not charge for USA-Phil transfer. Both PNB and Metrobank in the US charge $8 for dollar to peso transfer and around $20 for dollar to dollar transfer. You might want Wells Fargo. It’s ExpressSend service charges only $4 for dollar to peso transfer to BDO, BPI or Metrobank here in the Phils. There’s also Xoom (via any US account, can be dollar to dollar or dollar to peso, around $8 fee, sometimes has zero-fee promo but they make money from exchange rate.) Another is WISE (I’m an affiliate of WISE), dollar to peso only, and uses the most favorable dollar to peso exchange rate. I checked this moment and a 1k dollar remittance gives a net of 49,577.63 credited to a Phil account, fees already deducted. You can see all the details before you approve the final remittance.
By the way many banks also charge for inward remittance to accounts here. Over-the-counter cash pickup usually has no charge.
The only bank I know that offers free international transfer is Citibank. You need to have a Citibank account in the US and a Citibank account in the Philippines (minimum maintaining balance of 1M peso total deposit/insurance/investment), but this info is useless now as Citibank is now closing down its consumer banking operations here.
By the way, I have a post here that might help you: 9 Ways to get your pension in the Philippines
Hi Nora,
I went to PNB LA website and it says I can only open an account with a $250k minimum deposit. Is there a way where I can open an account here in the US and when I go to the Philippines, I can have access to the money? I thought of Citibank but you just said theyre closing down consumer banking there. What are tge other options? Thanks.
Hi Roger, I think if your current US bank has online and mobile banking, you can access it while in the Philippines. You can use a global money transfer firm like XOOM, WISE, or Remitly. XOOM can transfer to a dollar or peso account and can be claimed over the counter in dollar or peso (BDO and Metrobank). WISE can transfer to a peso account only, but it gives the best exchange rate (you can compare yourself before you Send) and any Philippine bank with Swift code is okay to send to via Wise. By the way, I’m an affiliate of WISE.
If you’re thinking of opening another or a new US account, based on online comments and lists of best banks for expats, you can choose from Capital One (360 account), Ally, Wells Fargo, First Republic. PNB and Metrobank are located in only 3 locations and PNB accounts are not FDIC insured, so I think a US bank is a better option. You might also want to check HSBC. Just like Citibank, it also offers free global transfers through its Premier account. HSBC has only 5 branches here (Makati, Ortigas, Fort Bonifacio, Cebu, Davao) and 3 HSBC Savings Bank branches. I hope you’ll share with us in the future the best option you have chosen
Hi Nora, So can I open a PNB Philippine peso account in Los Angeles? I am planning on slowly putting money in that account for retirement. Is it possible to open a PNB Philippine peso account in Los Angeles for P10k minimum initial deposit? Thanks.
Hi Roger, yes, you can open a PNB Philippine peso account in PNB LA. About 10k, I think so, that’s the passbook account’s maintaining balance requirement. For the atm account, it’s 3k. Call them first to verify their business hours. Cost is $70, if not yet increased. Then you can remit to your PNB account thru global remitters like Xoom, Remitly, Wells Fargo ExpressSend, Western Union, etc. But I’ll recommend WISE because it offers the best US-peso exchange rate. You can compare rates yourself. By the way, I’m a WISE affiliate.
You might also like to explore OFBank. It’s a fully digital bank owned by Landbank for Filipinos overseas. You can open your account online while abroad by downloading the OFB app from Google Play or Apple Store, then follow instructions. Prepare your passport, UMID or Phil PRC ID. It’s a zero-maintaining-balance account. To remit to your OFBank account, use your OFBank account name and number, but use Landbank or Land Bank of the Philippines as bank name.
Hi good morning from Philippines,
Query pls, is the MetroBank in New York be able to accommodate requirement of Veterans Affairs in Washington DC on payments of US Military Veterans using VA GI Bill Education benefit programs wherein they have enrolled with Philippine University? Since our university has MetroBank $ Account, can they deposit here directly their payments? One recommendation is to open a “third party providers” (Western Union Business Solutions). But we have already existing MetroBAnk $Account in the Philippines where they can deposit their payments. Thanks for accommodating our query. My email” ymahadji79@gmail.com
Hi Amelita, first, I’m not affiliated with Metrobank New York. I searched the VA website and I found out that for VA educational benefits, VA also uses the form used for Direct Deposit for US pensioners in the Philippines (which are being offered by the top Philippine banks). So I think you can go to your Metrobank branch and apply for Direct Deposit to receive your educational benefits. PNB, BDO and BPI also offer Direct Deposit services. Just bring your documents. You can download the form here: VA Direct Deposit . I hope you can update us here if you were able to apply with Metrobank or any other bank. Thanks.