We`ll look at the BDO Kabayan Peso savings account requirements in today`s guide. With BDO Kabayan Savings, you can expect your family to receive the transfer more easily. Opening such a savings account is not only for an easy transfer, but also the key to building a good credit score at the bank. This would make it easier to apply for a home, commercial or auto loan upon your return to the Philippines. Note: Verifying and processing an account usually takes about 3-5 business days. Because if you don`t transfer at least every 2 years, this account will be converted to a regular BDO ATM account and you will need to hold a balance of PHP 2,000. An important note for all BDO Kabayan Savings ATM account holders. While there is NO balance for this type of account, you will need to transfer/deposit money at least once every 2 years to use this feature. In a previous article, we explained how to open a Metrobank savings account. Today, we`re going to talk about another trusted financial institution in the Philippines: BDO. BDO offers an affordable savings bank account for expatriate workers and seafarers called BDO Kabayan Savings Account. Here we share details about the requirements, features and benefits, application process and recalls of this type of product.
If you are wondering how much you will pay or what the prices are when you make an ATM transaction with your BDO Kabayan savings machine, here are the following fees: If your balance does not reach the minimum amount required to earn interest, it means that no interest will be charged to your account. It is not for everyone; Therefore, it is important to know its requirements before deciding to open one. That`s why the Kabayan pesos savings account was designed to help overseas Filipino workers and others save when working abroad. For Filipinos who work and live in their home country, BDO has proven time and time again that it offers one of the best services in terms of comfort, speed and safety. This is the same approach that BDO wants to pass on to Filipinos working abroad and their families back home. In this context, BDO has created a special OFW savings account designed specifically for our “Kababayan” working in other parts of the world. If you want to learn more about the requirements, procedures and features of BDO`s Kabayan Savings Accounts, read on. While you`re working abroad, it`s best not only to keep your hard-earned money safe, but also to let it grow. Opening a BDO Kabayan savings account offers several advantages, including: In addition to the requirements for Kabayan pesos savings accounts described in the paragraph below, anyone wishing to register one must be between the ages of 18 and 65 and already have the Kabayan Savings ATM account. All that is required to open an account is an initial deposit of 10 USD, one (1) valid piece of photo ID, one (1) 1×1 ID image and a valid Seaman`s Booklet. With this amount, the account is activated and declared operational. With this service, BDO promises financial security, speed and comfort.
The account can be opened by OFWs and their families at any Unibank branch of BDO in the Philippines. Fortunately for our “Kababayan” and their families, there are highly specialized accounts like the BDO Kabayan Savings Account, which is tailored to the needs of expat workers who sacrifice their blood and sweat to send their hard-earned money back to their families in the Philippines. If you wish to apply for a BDO Kabayan account, read on: Only identification, valid identification and a valid seaman`s book will be required to open the account. For anyone who wants to know what you need to open a BDO Kabayan Peso savings account, please read this guide. The minimum deposit for BDO Kabayan Peso Savings Account is PHP 100.00 or $100. Here are the requirements for a BDO Kabayan Peso savings account: The Kabayan pesos savings account acts as a selective account. Below is a video from BDO Unibank about the Kabayan account and transfer: A BDO Kabayan savings account offers many benefits, but be sure to send money to your account at least once a year to avoid expiration. Once it expires, it will be converted to a Kabayan account, which requires PHP 5,000 to maintain the balance. We bring you everything you need to know about banking and finance. How to register, activate and log in to your online banking account online.
NOTE: If the account holder does not transfer at least once within 2 years, the BDO Kabayan savings account will be converted to a regular account with a balance of 2,000 PHP. Once it becomes a regular savings account, a withdrawal of PHP 300 will be made every month IF you do not reach the balance of PHP 2,000. Earning interest on this savings account is a feature of its minimum deposit. Please note that seafarers working with POEA-accredited companies can send their expense allowance directly to a BDO Kabayan Shipping Dollar account. NOTE: Seafarers employed by POEA-accredited companies may send their quota directly to a BDO Kabayan Shipping Dollar account. All you need to do is submit one (1) 1×1 identification image, one (1) piece of valid identification and a valid Seaman`s Booklet. The initial deposit required is 10 USD. Note: The corresponding conversion rate is applied based on the country where you are making the transaction.
Opening a BDO Kabayan savings account entitles you to the following benefits and services: Saving money is an important aspect of life these days. For more information, you can send them. an email by consumeraffairs@bsp.gov.ph or visit their website at www.apply.bdo.com.ph/welcome/?prodcode=19&journey=offbranch If you`re looking for reliability, security, and accessibility, few names come to mind, especially when it comes to banking. If these things are important to any Filipino living in the Philippines, then imagine how much more important they would be to OFWs. As one of the largest and most important commercial banks in the Philippines, BDO has developed a variety of banking products and services to serve a wide range of markets in the Philippines and abroad. Payment of these BDO loans, which are available to OFWs, is facilitated by the bank`s Direct Debit Agreement (ADA) with BDO Kabayan savings account holders. For seafarers and seafarers employed by POEA-accredited shipping companies, you can open a BDO Kabayan Shipping Dollar account where you can credit their quota directly. As mentioned earlier, one of the great advantages of transferring by BDO Kabayan is that you can purchase life and property and casualty insurance for FREE.
To be eligible, you must transfer 6 transactions per year and you must hold a balance of PHP 25,000. The sum insured is 50% of the AfDB plus 50% of total transfers in the last 12 months, not more than PHP 1 million per registered transfer recipient. For overseas Filipino workers (OFWs), there are few things more important than saving money. Even if you stay abroad for many years but can`t save, then all your hard work would be in vain! Fortunately, BDO Unibank offers a financial service designed specifically for OFWs and their families. Below you will find more details on BDO Kabayan life and casualty insurance: However, foreigners can submit their passport or foreign certification registration card (ACR). 1. A valid ID card or corporate ID to confirm your identity as a Philippines. The good thing about the Kabayan Savings Account is that you can easily pay off loans and even insurance through the ADA or automatic debit agreement. BDO Kabayan Savings is a service offered by BDO to foreign workers. This service makes sending money to OFW families in the Philippines easy, convenient and secure. It`s obvious that sending money to the Philippines can be difficult, especially if you`re in other parts of the world. DISCLAIMER: The above information is for information exchange purposes only.
To learn more about opening a BDO Kabayan savings account, please visit the official BDO Unibank website. For hard-working Filipinos abroad, the bank offers the BDO Kabayan savings account. BDO Kabayan Savings aims to establish a relationship between BDO Unibank and Filipinos abroad. Over time, once you have established a good credit history with BDO, it will be easier to apply for the following loans:.
