OFWs’ hard earned money is as precious as his blood. Keeping that money safe for future use needs reliable banks with outstanding financial background. So to answer this needs, the Bangko Sentral ng Pilipinas(BSP) created a Portal for OFWs’. This portal listed recommended banks that have affiliates in your host countries.
It is best to consider OFW friendly banks that offer not only interests in your deposited money but probable investment that might yield higher earnings.
Also, check OFW friendly banks that have interactive system, wherever you maybe in this part of the world, from time to time you could see your financial portfolio online.
There were banks in the Philippines that have been closed due to bankruptcy. Some of their clients until now were struggling to get their money bank. Though deposits were insured by PDIC but the rigorous processing frustrate depositors.
In order to avoid any possible problems with your deposited hard earned money. I should recommend to further check the BSP OFW Portal and run through all recommended banks.
Review your chosen Bank that suits to your liking and evaluate further the products, services, and the entire financial background; it is not a guarantee that the bigger the bank is the more financially it sounds.
If I were to be asked, personally I recommend Bank of the Philippine Island (BPI), as a client, I am absolutely satisfied with their services. If it’s difficult for you to visit the nearest bank, right into your personal computer, your online portfolio is just a few clicks away.
Philippine National Bank (PNB) and Land Bank of the Philippines are my other option. These banks are not only financially sound, but they proved their commitment to the overseas Filipino workers.
click to visit: OFW Portal