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OFW Bank account


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SkyMan

An OFW wants to send money back to a bank account.  Is it possible to open an account in their name here?  

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RogerDat

I do not think you can do that in any country without a power of attorney, and cannot do that at all here. May be wrong, hard enough opening one for yourself at times here.

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They can open a savings account with certain Filipino banks whilst abroad. I know Landbank have offices or representatives  in most asian and arab countries where the vast majority of OFW work. Which country? 

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2 minutes ago, Davaoeno said:

I believe Landbank is owned by the government .

 

https://www.landbank.com/about

 

Quote

 

About Us

 

The Land Bank of the Philippines is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable.

This dual function makes LANDBANK unique. The profits derived from its commercial banking operations are used to finance the Bank's developmental programs and initiatives.

Over the years, LANDBANK has successfully managed this tough balancing act as evidenced by the continued expansion of its loan portfolio in favor of its priority sectors: the small farmers and fishers, a good part of which are agrarian reform beneficiaries; micro and SMEs; agri- and aqua-projects of local government units and government-owned and controlled corporations; communications, transportation, housing, education, health care, environment-related projects, tourism, and utilities.

LANDBANK is by far the largest formal credit institution in the rural areas. It also ranks among the top five commercial banks in the country in terms of deposits, assets and loans.

 

 

 

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4 minutes ago, Davaoeno said:

I believe Landbank is owned by the government .

Yep and Henry Sy owns the rest :rolleyes:

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Headshot
41 minutes ago, maximian said:

Yep and Henry Sy owns the rest :rolleyes:

Not BPI. That's why he won't let them have offices in SM malls.

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Some banks allow you to open bank accounts online but I think the applicant still have to visit a branch in person for the account to be activated, but i'm not sure.

If you google "open bank account online Philippines" you will find that BPI and SecurityBank offers this. 

Edited by Thomson
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JohnSurrey
12 hours ago, SkyMan said:

An OFW wants to send money back to a bank account.  Is it possible to open an account in their name here?  

I sort of did something similar with BPI... so depending on which country the OFW is in... look for the (Filipino) bank that has an office there and ask them if they can "facilitate" it with the bank back home - I cannot see why they can't as the overseas office should be able to vouch for the id etc.

Having said that they have some very silly rules and people working in the banks here... I once asked BPI for a copy of one of their forms to take away and fill in and they wouldn't give me one (have to fill it in at the office - like it's confidential or restricted information ffs...) - think I just downloaded it from the website and then took it back the next day...

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SkyMan
2 hours ago, maximian said:

They can open a savings account with certain Filipino banks whilst abroad. I know Landbank have offices or representatives  in most asian and arab countries where the vast majority of OFW work. Which country? 

Kuwait actually and there's a whole list of Overseas Partners 

https://www.landbank.com/sites/default/files/remittance/Kuwait_20170721.pdf

But I don't know if she can open an account at Landbank through them.  Looks like just remittances.

2 minutes ago, JohnSurrey said:

Having said that they have some very silly rules and people working in the banks here... I once asked BPI for a copy of one of their forms to take away and fill in and they wouldn't give me one (have to fill it in at the office - like it's confidential or restricted information ffs...) - think I just downloaded it from the website and then took it back the next day...

They're only allowed to make another copy when the first has been submitted so if you took it they'd be hosed.

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Davaoeno

Bagong Bayani ATM Account
Card-based type of Savings Account intended primarily for Overseas Filipinos.  Opening amount is only Php 100.00 with zero maintaining balance.

Issued in two forms: generic and personal.  The generic card is issued by LBP Overseas Officers and other ORG designated personnel upon application while the personal cards are issued by LANDBANK branches with the account holder’s name embossed in the card.

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