If you’re a Filipino working or living abroad or a Filipino immigrant, you have at least 4 ways to open a Philippine bank account while abroad.
Table of Contents:
. Open an OFBank digital account using your phone
. Open a PNB or Metrobank account
. Open a BDO Kabayan savings account
. Open a Landbank OFW savings account
. Bank account in country where you are
1. Open a digital account with Overseas Filipino Bank (OFBank).
You can open an OFBank account anywhere you are. Just make sure your phone number can receive a text from the Philippines. Just download the OFBank mobile app from Google Play or Apple Store. Install it, then follow the instructions. Prepare your Philippine passport or a valid Philippine ID.
Later on, if it takes a long time to receive your One Time Password (OTP) from OFBank via text, you can choose to receive your OTP via email. OFBank will use the email address you’ve previously registered with the bank.
OFBank is owned by Land Bank of the Philippines, and its main goal is to help OFWs with their remittances and savings. It’s the first licensed digital bank in the Philippines. It has become popular with many OFWs. To know more about OFBank, follow its Facebook page Overseas Filipino Bank (with the blue check mark) and the Facebook group named Overseas Filipino Bank (OFBank) – Depositor’s Group.
When sending money to an OFBank account, use the following:
Name of OFBank account owner
Account No.: OFBank 10-digit account number
Name of Bank: Land Bank of the Philippines
Why Land Bank of the Philippines? Because Landbank is the parent company of OFBank, and Landbank is the one with international connections.
For wire transfers or Swift transfers:
Landbank’s 8-digit Swift code is TLBPPHMM.
If 11 digit is needed, it’s TLBPPHMMXXX.
If a Landbank address is needed, use the main Landbank office address:
1598 M.H del Pilar cor. Dr. J. Quintos Sts.
1004 Malate, Manila, Philippines
Landbank’s email address: firstname.lastname@example.org
Landbank’s phone nos. : +63 2 8-522-0000 | +63 2 8-551-2200
For faster remittance, use Landbank’s remittance partners.
Contact OFBank if you have concerns:
The old website of OFBank, overseasfilipinobank.gov.ph, can no longer be opened online. The new website is: https://www.ofbank.com.ph/
2. Open a Philippine bank account while abroad with subsidiaries, foreign branches, remittance firms or remittance partners of Philippine National Bank (PNB) or Metrobank.
PNB, Metrobank and BDO are the three Philippine banks with consumer banking branches or subsidiaries abroad. You can go to their offices and ask assistance for opening a Philippine-based account.
You can also ask help from their own remittance companies abroad.
PNB Branches in Japan: Tokyo and Nagoya
You can apply for a Philippine-based peso or US dollar savings account, checking account or time deposit at PNB Tokyo or Nagoya. Bring your Residence card and My Number (if resident), passport or any government-issued ID and two 30x24mm photos. Deposit in yen.
Accounts you can open:
Peso OFW Savings Account – Initial deposit: JPY25,000
Peso Regular Savings Account – Initial deposit: equivalent of PHP10,000
USD OFW Savings Account – Initial deposit: JPY70,000
USD Savings Account – Initial deposit: JPY70,000
Peso Regular Checking – Initial deposit: equivalent of PHP10,000
Peso Budget Checking – Initial deposit: JPY25,000
Peso Time deposit – Initial deposit of JPY1000,000
US Dollar Time Deposit – Initial deposit of JPY200,000
PNB Tokyo Branch
1st Floor 3-13-16
Mita, Minato-ku, Tokyo 108-0073
Phone: (03) 6858-5910
Free Dial: 0120-86-6382
Fax (24 hours): (03) 6858-5920
Softbank Mobile: 080-3724-4544
PNB Nagoya Sub-Branch
7th Floor Nishiki 324 Building 3-24-24
Nishiki, Naka-ku, Nagoya-shi
Phone: (052) 968-1800
Free Dial: 0120-143-633
Fax (24 hours): (052) 968-1900
Softbank Mobile: 080-3601-6240
PNB Los Angeles, California
You can open a Philippine-based peso or US dollar savings account, peso checking account, peso or dollar time deposit. Minimum initial deposit for a peso savings account is the dollar equivalent of 10,000 pesos.
For those in the U.S. who cannot go to the PNB Los Angeles branch in person, read this info:
Open a Philippine Bank Account in the U.S.
PNB Los Angeles Branch
316 W. 2nd Street, Ste. 700
Los Angeles, CA 90012
(Between Broadway & Hill Streets)
Phone: 213-401-1800 ext 201, 202 or 206
PNB New York Branches
If you’ve decided to retire in the Philippines, you can ask help in opening your Philippine-based Direct Deposit account so you can receive your US pension in the Philippines.
PNB New York Branch – Manhattan
561 7th Ave. 2nd Floor, New York, NY 10018
Tel : (212) 790-9600
Email : email@example.com
PNB New York – Queens Extension Office
69-18 Roosevelt Avenue, Woodside, NY 11377
Tel : (718) 898-6113
Email : firstname.lastname@example.org
PNB Global Filipino Card
At most PNB locations abroad, you can apply for a Global Filipino Card (GFC) or Global Filipino Money Card (GFMC) for your beneficiary. This is a prepaid atm card that your beneficiary can use to withdraw your remittance from PNB and Bancnet atms. Your beneficiary can pick up the card at the nearest PNB branch. Valid IDs are needed to claim the card. You can apply for more than 1 card.
A GFC can only be funded abroad; it cannot accept a deposit over-the-counter in the Philippines.
You can open a single-account Metrobank OFW Peso ATM savings account:
– For Filipinos only
– Valid Philippine passport and Japan Residence Card
– Minimum initial deposit: JPY10,000
– Remaining Japan visa must have at least 6 months validity
– Provide one of these: TIN, SSS no., GSIS no., UMID no., Philhealth no. or Pag-ibig no.
– Schedule a reservation at metrobank.co.jp
Metrobank Tokyo Branch
1st Floor Kandabashi Park Bldg.
1-19-1 Kanda Nishiki-cho,
Chiyoda-ku, Tokyo 101-0054
Metrobank Osaka Branch
3F Osaka Kokusai Building
Chuo-ku, Osaka 541-0052
10 East 53rd Street
New York, NY 10022
Phone: (212) 832-0855
Toll-free for US only: (800) 863-8762
Fax: (212) 832-0993 / (212) 223-0916
Other Metrobank branches abroad are in:
China, Korea, Taiwan and the Bahamas.
There are Metrobank remittance companies in:
Hong Kong, Singapore, Canada and the UK
Metro Remittance UK (MetroRemit)
1st Floor 12 Kensington Church Street
London London W8 4EP
Phone: 02073 684 490
Alternate No.: 02079 382 571
TextLine: 07781 480 144
Fax: 02079 376 140
MetroRemit is a subsidiary of Metrobank Philippines.
You can request MetroRemit to help your beneficiary in the Philippines open a Metrobank OFW Savings Account at any Metrobank branch close to where your beneficiary lives or works. Just advise your beneficiary to bring valid IDs. This account is a no-maintaining-balance account.
What about BPI Europe PLC?
It has changed!
BPI Europe PLC might no longer be offering assistance in the opening of Philippine-based accounts. It has stopped offering remittance services at its Earl’s Court branch.
It has changed its goals. It’s now focused on corporate and wholesale banking, securities and foreign exchange trading and loan syndication.
BPI Europe, London (Earl’s Court)
26A & 27A Earl’s Court Gardens
Phone: (+44) 207-8350088
Fax: (+44) 207-3731848
BPI Europe, London (Threadneedle)
4th Floor, 28/29 Threadneedle St.
Phone: (+44) 207-6389100
Fax: (+44) 207-6386838
3. Open a Philippine-based BDO Kabayan Savings Account or a BDO Remit Cash Card with BDO Remit offices or BDO remittance partners.
This BDO Kabayan account is a passbook-and-atm savings account. It does not require a maintaining balance, as long as it receives at least one foreign remittance within a 24-month period.
Warning: If this account does not receive a foreign remittance within 24 months, it will be automatically converted into a regular ATM account, and it will require a 2,000-peso maintaining balance. On the last business day of the 2nd consecutive month that the account is below maintaining balance, 300 pesos will be deducted as penalty, and another 300 pesos on the last day of the 3rd month, and so on, if the account remains below the maintaining balance requirement.
When you open your account at a remittance office, they will ask you to return on a certain date because they need to send your documents to BDO Philippines and then wait for your passbook and atm card to be sent. 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.
A BDO Remit cash card is a reloadable atm card that your beneficiary can use to withdraw your remittance from an ATM in the Philippines. It is not a savings account and it does not require a maintaining balance.
It can contain a maximum of 100,000 pesos at any one time. Regular BDO cash cards can contain only 10,000 pesos (generic) and 25,000 pesos (with embossed name).
The Remit cash card can also be used as a debit card to pay purchases at SM supermarkets, stores and affiliates.
4. Apply for a Landbank OFW ATM Savings Account
The Landbank officer will give you a generic ATM card upon application.
Jose Aryiel G. Castor
Overseas Representative Officer in KSA
c/o Tahweel al Rajhi
Manila Plaza Bldg.
Al Batha, Riyadh
Bank Account Based in the Country Where You Are
You can also open a bank account with a Philippine bank operating in the country where you are, if there’s a Philippine bank that operates there. Like a US-based US dollar account with Metrobank New York, or a Japan-based yen account with PNB Tokyo, or a Singapore-based Singapore dollar account with BDO Singapore.
Since the account is based abroad, it will not be covered by PDIC, and it may or may not be covered by insurance based in that foreign country.
If you have an online bank account and you transfer money from your foreign account to your account in the Philippines, the transfer will pass through a remittance system, so there will be a remittance charge.
The advantages 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.
Most ATM cards issued abroad (with Mastercard, Visa, China Union Pay logos) can be used to withdraw from ATMs in the Philippines. The charge per ATM withdrawal is around 200 to 250 pesos.
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Open a Philippine bank account while abroad