Working abroad as an OFW is one thing, but taking care of your finances back home is another. Considering all these pressures at work and back home, you need to find a financial partner like Metrobank who understands your goals and priorities for yourself as well as your beneficiaries back home.
Metrobank is one of the largest commercial banks in the Philippines today, and it offers various programs which are especially designed for OFWs and their beneficiaries back home. If you would like to open a Metrobank OFW Savings Account, here’s how:
Here are some of the attractive features offered by Metrobank with their OFW Savings Account:
Zero initial deposit and maintaining balance for an OFW regular Savings Account
A Php 10,000 minimum maintaining balance to earn interest
250% annual interest rate
Documentation available in the form of either a Passbook or ATM Card
Requirements:
Any valid government-issued ID with photograph such as:
Passport
Driver’s license
Voter’s ID
Postal ID
Barangay Clearance
Police/NBI Clearance
Senior Citizen’s ID
And so on…
Two (2) copies of your recent 2 x 2 photograph
[Optional] A letter of endorsem*nt
Procedures:
Visit the nearest Metrobank service branch or Remittance Partner in your country of residence.
Advise the bank officer that would like to open an OFW savings account. For this type of account, you will not be required for any initial deposit fee as mentioned above.
Fill out the account opening form and submit the requirement(s) to apply for an OFW savings account.
Important: Make sure that you review all the information you indicate in your application form. To avoid any hassle in the verification and processing of your account.
After you have submitted all forms along with the required document(s), you will be issued ether an ATM card or a passbook.
The Metrobank Group is a premier financial conglomerate with a diversified portfolio and a track record spanning over 60 years. It offers a wide range of banking and other financial products and services including institutional and consumer banking, investment banking, leasing and financing, and bancassurance.
OFW Savings Account. If you would like to open an account, simply visit the nearest Metrobank branch and bring one valid photo-bearing ID with your signature and your initial deposit.
To open an account, visit the nearest Metrobank branch and bring one photo-bearing ID with your signature, as well as your initial deposit. See our complete list of valid IDs, deposit and interest rates, and fees. Start your savings journey and open a Metrobank savings account today.
You can open an account anytime, anywhere. Go to the app, tap "Open a new account", and tap "Create a bank account". Fill out your personal details and account options, photograph your BPI-approved valid ID and take a selfie. Fill in the additional details.
When you travel abroad you can use your Personal or Business Metro Bank debit or credit card to pay for everything you need. You can use your card everywhere that you see the MasterCard logo to pay for goods or withdraw cash.
Accounts that have a minimum opening deposit often require an amount between $25 and $100. You can usually fund the account with cash or a check, if you're opening the account in person. To deposit money electronically, you can often make a mobile check deposit or transfer funds from a linked account.
Just come in to one of our stores or apply online - all you'll need is proof of your identity and up to two documents for proof of address. Your current account will be up and running straight away. If you apply in store, we'll even print your bank card there and then.
Send money, deposit to other banks, or pay for products and services securely with Metrobank Online. Transfer up to PHP 50,000 daily with InstaPay, or up to PHP 200,000 a day with PESONet. If playback doesn't begin shortly, try restarting your device.
Yes, you can open a bank account completely online, without ever going into a bank branch. With a completely online bank or account, you can also do all your account management online.
Regular Debit/ATM Savings account have a maintaining balance of Php 2,000. Savings Account with a balance below the maintaining balance for 2 consecutive months, will incur a monthly balance fee of Php 300. This shall be deducted from the account's available balance.
Who can open a bank account in the Philippines? Anyone can open a bank account in the Philippines. In the past, non-residents, including those holding a temporary visitor's visa, couldonly open a foreign currency deposit account, or a peso account funded by foreign currency deposits converted to peso.
It's not possible to open an account in the Philippines as a non-resident. All banks ask for proof of your address in the country. If you want to get started before you move, try an international bank who also operate in the Philippines.
Many major Malaysian banks allow you to open bank accounts online, including Maybank, RHB and Hong Leong. However, Public Bank requires you to visit a branch to open an account.
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.
Please inform us through our Customer Service Hotline at 88-700-700 or through our domestic toll free hotline 1800-1888-5775. Alternatively, you may activate your new cards on your own through the traditional channels (see end of FAQs).
Two U.S. banks have representative offices in the country: Wells Fargo Bank and Bank of New York Mellon. Reflecting a long history of economic and political ties, all commercial banks in the Philippines have correspondent U.S. banking relationships.
As the first government digital-only bank in the country, OFBank offers deposit options for overseas Filipinos and overseas Filipino workers (OFWs) and their beneficiaries that are accessible and manageable through digital banking.
Variable interest rates: With savings accounts, a variable APY (annual percentage yield) means the interest rate can change over time as dictated by market conditions. ...
Extra fees: Some financial institutions may charge monthly fees for account holders to maintain a savings account.
The IRS probably already knows about many of your financial accounts, and the IRS can get information on how much is there. But, in reality, the IRS rarely digs deeper into your bank and financial accounts unless you're being audited or the IRS is collecting back taxes from you.
Though there's no limit to the amount that you can keep in a savings account, you should carefully consider your options if you have a large amount of money to save. When you deposit money in a savings account, what you're really doing is making a loan to the bank.
You can pay cash into your account simply with your Metro Bank debit card. If you don't have a debit card already, please remember this can take up to 5 working days to arrive in the post.
How to open a foreign currency savings account. To open a foreign currency savings account, call your preferred branch to confirm the availability of the foreign currency account you wish to open. Then, head to your Metrobank branch and bring one valid ID with signature and photo, and initial deposit.
You can open an account from your home country, so you don't have to fly to the US to set it up beforehand. Most banks even have web services that will let you set up a bank account online. Some of the top banks with a wide international presence in the US and beyond include HSBC, Charles Schwab, and Citibank.
You can apply online for a checking account if you're 18 years or older and a legal U.S. resident. You'll need the following information: Your Social Security number. A valid, government-issued photo ID like a driver's license, passport or state or military ID.
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