Best Banks In The Philippines Among OFW
A savings account is very substantial for OFW since it will be the account where the money will be sent from abroad. Applying a new savings account can be difficult since you do not know which bank is the best for your criteria. There are really many banks in the Philippines so selecting one is not effortless. In this article, you can learn which bank to pick to send money to the Philippines.
1. Banco de Oro
Banco de Oro or BDO ranked the highest in the Philippine banks among OFW. In 2009, BDO was chosen by the Central Bank of the Philippines as the No. 1 bank among OFW remittances. It has many services and products offer especially to OFW like the Kabayan Savings account which can be applied by an OFW with P50 initial deposit and without maintaining balance. BDO has also other types of banking such as Internet, telephone and ATM banking.
2. BPI
Bank of the Philippine Islands (BPI) was named by Finance Asia the most desirable cash management bank in the Philippines for 2009. I personally used BPI for my money transfer to the Philippines. I believe BPI is one of the most desirable in terms of customer service and quick in answering to client’s difficulties.
3. Metrobank
Metrobank is a famous bank in the Philippines and listed as a public company in the Philippine Stock Exchange. Last year, it is included to the best five remittance bank of OFW. It has a wide chain of branches not only in the Philippines but also in other countries like US, European nations, Korea and Middle East countries. Many OFW likes Metrobank because of its good customer care and plenty of branches all over the nation.
4. Chinabank
Placing as fourth biggest universal bank by market capitalization in the Philippines. Chinabank is emerging as one of the chosen banks of OFW and some Filipinos. With its expansive banking products through its multitude branches and ATM machine across the country, Chinabank is going available nationwide. It has online, ATM and mobile banking which you should use to transfer money to other banks with very low fee.
5. Union Bank
In the Philippines, Union Bank places seventh in the biggest banks in regards of assets. It is a listed compane included in Philippine Stock Exchange. Union Bank is a partnership among the companies and government establishment in the country. With its wide range of products, many people and OFW see Union Bank a good choice for banking and money transfer purposes. You can remit money to the Philippines using Union Bank by PayPal, through money transfer partners and by bank to bank wire transfer.
Picking a bank for remittance purposes depends on your goals. Almost all banks offer same services but you need to determine those which are customer-oriented and answers to client’s problems quickly.
Gily Tenorio is a personal investing blogger who likes writing on saving, investments, stocks, mutual funds and make money online. For more details on how to open a bank account like Land Bank Philippines, you may visit Financial Management blog for quality free articles on banking, saving, investments and earning money online.
Processing your request, Please wait....
