While there are various types of deposit or savings account available from different banks and other financial institutions, I believe it’s still better if you choose an account that best suits your needs.
For Overseas Filipino Workers (OFW) and their families or beneficiaries in the Philippines, choosing BDO Kabayan Savings is one of your best options.
BDO Kabayan Savings Account has features that suit every OFW’s needs. It’s very easy to apply for BDO Kabayan and it’s very easy to use as well.
How much does it cost to open a BDO Kabayan Savings Account?
- For PHP Account, your initial deposit is only Php 100
- For USD Account, your initial deposit is only $100
To open a BDO Kabayan Savings Account, just prepare 1 valid ID, 1×1 photo, and your initial deposit. Then, visit the nearest BDO branch, preferably within your area of residence for faster processing and approval.
Why Open a BDO Kabayan Account?
BDO Kabayan Savings Account comes with a passbook and ATM debit card. It has zero maintaining balance provided you remit to your account at least once a year.
Note: If there’s no remittance within one year, your BDO Kabayan Savings Account will be converted to a regular account and there will be a maintaining balance of Php 10,000.
As a remitter, you may also qualify for FREE life and accident insurance which would be of great help in case something happens to you. We don’t want anything like this to happen but having an insurance can give you and your family peace of mind when unforeseen events occur. Read more about this down below.
Moreover, you can earn BDO Rewards points too from your savings and remittances.
You may also use your BDO Kabayan Savings Account to pay for your loans and insurance (if you have any) through an auto-debit arrangement (ADA).
In terms of interest, your BDO Kabayan Account may earn interest provided you maintain the requiredd minimum balance.
- For Peso Account – Php 5,000 is the minimum balance to earn interest (0.50% per annum)
- For Dollar Account – USD 200 is the minimum balance to earn interest (0.25% per annum)
Are you a Seafarer?
If you are a Seafarer and you are employed by POEA-accredited shipping companies, you may open a BDO Kabayan Shipping Dollar Account where your company can directly credit your allotment.
The initial deposit is only $10 and you only need to submit 1 valid ID with picture, 1 piece of 1×1 ID picture and a valid seaman’s book to open an account.
Want to Check the Status of your BDO Kabayan Savings Application?
It’s easy! Just visit your branch of account or you may call BDO Hotline 631-8000 to check the status of your BDO Kabayan Account. That’s if you’re in the Philippines.
If you’re abroad, you may contact BDO’s International Toll-Free Number: (Intl. Access Code) + 800-8-6318000.
Kabayan Savings Account Balance Inquiry
Do you want to know how much your current balance is on your BDO Kabayan account? Try any of these 3 options:
- BDO Online Banking – enroll your account online
- ATM Machine – use your ATM card
- Visit any BDO branch – use your Passbook to check your balance over-the-counter
I suggest you enroll your BDO Kabayan Savings account online so that it’s more convenient for you to check your balance anytime you want.
FREE Life and Accident Insurance
If you are the remitter and you are 18 to 65 years old and currently employed, you may qualify for the Free Life and Accident Insurance with your BDO Kabayan Savings Account.
Just enroll your Kabayan Savings Account in Free Life and Accident Insurance and make sure it’s under the name of the remitter or the remitter’s spouse, child, parent or sibling.
The enrolled BDO Kabayan Savings Account must meet the following requirements (in the last 12 months):
- At least 6 remittance transactions
- Average Daily Balance of at least Php 25,000
When you meet the above requirements (monthly), the enrolled remitter is covered by the insurance.
How much is the Insured Amount?
It is 50% of ADB plus 50% of total remittances in the last 12 months, not exceeding Php 1,000,000.00 per enrolled remitter.
Click here for more info about BDO Kabayan Savings Account. Fill out the form and a customer service representative from BDO will contact you shortly.
Apply for BDO Kabayan Savings now!
For OFW remitters who send money to their loved ones back home, BDO Kabayan Savings Account is for you.
With BDO Kabayan, you and your beneficiaries can withdraw anytime, anywhere from over 17,000 BDO, MegaLink, Expressnet and BancNet ATMs across the Philippines. You can also pay for items at SM and other accredited stores with point of sale (POS) terminals.
Click here to read: How to Get BDO Cash Card
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