The BDO Kabayan Savings account is part of the BDO Asenso Kabayan program, a banking product tailored fit for our country’s new heroes, our Overseas Filipino Workers, our OFWs.
The aim of the BDO Asenso Kabayan Program is to provide our hardworking OFWs and their family-beneficiaries the means to manage their finances by making it easy for them to start saving and investing by opening a BDO Kabayan Savings Account.
BENEFITS OF BDO KABAYAN SAVINGS ACCOUNT
The good news for OFWs and families who relies on the remittance from a loved-one abroad is that this banking product from BDO does not require any maintaining balance*. You can withdraw all the money in your account if you need to without incurring any “below maintaining balance fee”, provided the account receive at least one remittance transaction every year.
You can choose to open a PHP or a USD denominated Kabayan Savings Account. For the peso account, opening deposit or initial deposit required is only P100. If you want to open a US Dollar Kabayan Savings Account, the minimum initial deposit is just 100 USD.
Now, if you are a Seaman or a Seafarer OFW who are employed by a POEA-accredited shipping company, you can open a BDO Kabayan Shipping Dollar account and use this to send your monthly allotment for your family. You only need $10 as initial deposit, 1 piece 1×1 ID picture, and your valid Seaman’s book to successfully open a Kabayan savings with BDO.
The BDO Kabayan Savings account comes with an ATM and passbook; the passbook is handy to have when it comes to monitoring all activities on your account.
REQUIREMENTS to APPLY FOR BDO KABAYAN SAVINGS
These are the account opening requirements for the Kabayan Savings Account in BDO:
The minimum initial deposit which is either Php 100 or USD 100.
- 1 Valid ID with picture (preferably government issues like Driver’s License, SSS, UMID, Pag-ibig, PRC, Passport, etc.)
- 1 piece of 1×1 ID picture
- Additional requirement for Seaman only – Valid Seaman’s Book
Once your BDO account opening requirements are complete, bring them to any BDO branch and open an account that is fit for OFWs.
After account opening, you can also register your BDO Kabayan Savings account for an online access so wherever you go to in the world, you can log-in to your account as long as there is internet connection where you are at.
Other products that are part of the BDO Asenso Kabayan Program – only for OFWs and their families:
- Kabayan Home Loan
- Kabayan Auto Loan
- Kabayan Personal Loan
- Kabayan Homes
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