PNB's Special ATM Card and Savings Account for OFW and Beneficiaries - Bahay OFW
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PNB’s Special ATM Card and Savings Account for OFW and Beneficiaries

(Watch:Common OFW Money Mistakes)

If you are an Overseas Filipino Workers (OFW), it is really important to save money, not just for yourself or for your family but also for your retirement when you can no longer work abroad.

OFWs are often advice not to send every cent of their salary to the family at home, especially if the family cannot handle or manage the money well.

If you are looking for a bank that is “OFW friendly” for your savings and for your beneficiaries, Philippine National Bank (PNB) is one of the many in the country.

Currently, they are offering an OFW Savings Account that comes with zero opening and maintaining balance.

And if your saving reached P10,000 or $500 and up, it will start to earn interest at 0.100% per annum.

PNB’s OFW Savings Account comes with the following products:

1. PESO ATM

2. PESO PASSBOOK

3. DOLLAR PASSBOOK

And it comes with a very good news. It has a zero maintaining or minimum balance for OFWS and Beneficiary, unlike in the PBN Regular Savings Account that has a P3,000 maintaining balance for PESO ATM; P10,000 for PESO Passbook and $500 for Dollar Account.

(Watch:Why some OFWs remain poor despite working abroad)

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Save now while you are in abroad and earning big.

Here are the requirements;

One of the following IDs

Passport
Original employment contract (duly notarized and approved by POEA) will be accepted together with at least a photocopy of passport
Drivers License
Professional (PRC) license
SSS/GSIS membership cards
OFW ID (issued by POEA/OWWA)
NBI/Police clearance

In addition to the above, documents without picture such as Marriage contract, BIR TIN, and Credit cards should always be accompanied with a photographed ID.

2 ID pictures (1X1 or 2X2)
Letter of Introduction*

*This is only needed if the client is not ready to open OFW savings account due to lack of funds and identification. The Letter of Introduction must be submitted with one ID to the particular branch chosen by the OFW/Beneficiary.

PNB OFW Savings Account Fees and Charges

Balance Requirement

Initial Deposit:Php 0.00 / $ 0.00
Minimum Maintaining Balance:Php 0.00 / $ 0.00
Minimum ADB to Earn Interest:Php 10,000.00 / $ 1,000.00
Interest Rate

Effectivity Date: February 1, 2015 0.100% p.a.

Dormancy:2 years
Dormancy Fee:Php 0.00 / $ 0.00
Record of Transactions: Upon request

Other Charges
Passbook Replacement:Php 100.00 / $ 5.00
Average Daily Balance (ADB) of the account falls below the required minimum monthly ADB for at least two (2) consecutive months: Php 0.00 / $ 0.00
Interbranch/interoffice deposit/withdrawal transaction, except transactions made between and among

Metro Manila Branches

Non-Metro Manila branches or provincial branches located within the same city, municipality or province.

Php 100.00/Php 200.00

ATM can be accessed thru PNB, MegaLink, BancNet, and ExpressNet ATMs nationwide 24/7.

(Watch:Rappler Talk: Financial Literacy for OFWs)

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