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One of the best banks in the Philippines that offers a good option to Overseas Filipino Workers (OFW) is the Chinabank through its Overseas Kabayan Savings. By opening this savings account, you can start saving money for your future or retirement as OFW at the same time, send money to your family in the Philippines. Having a savings account for OFWs is very important because working abroad is not permanent.
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So, what are the features of Chinabank Kabayan Savings?
Driver’s License
Professional Regulations Commission (PRC) ID
National Bureau of Investigation (NBI) Clearance
Police Clearance
Postal ID
Voter’s ID
Barangay Certification
Government Service and Insurance System (GSIS) e-Card
Social Security System (SSS) Card
Senior Citizen Card
Overseas Workers Welfare Administration (OWWA) ID
Overseas Filipino Worker (OFW) ID
Seaman’s Book
Government Office and GOCC ID [e.g. Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs]
Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
Department of Social Welfare and Development (DSWD) Certification
Integrated Bar of the Philippines ID
Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC
School ID, duly signed by the principal or head of the school (for students who are beneficiaries of remittances or fund transfers who are not yet of voting age)
- No initial deposit
- No maintaining balance
- ADB to earn interest P1,000
- Interest rate 0.25% p.a
- ATM card
What are the basic requirements when opening the account?
- Two (2) 1x1 ID Pictures
- Original/s and clear copy/ies of at least one (1) of the following valid IDs*:
Driver’s License
Professional Regulations Commission (PRC) ID
National Bureau of Investigation (NBI) Clearance
Police Clearance
Postal ID
Voter’s ID
Barangay Certification
Government Service and Insurance System (GSIS) e-Card
Social Security System (SSS) Card
Senior Citizen Card
Overseas Workers Welfare Administration (OWWA) ID
Overseas Filipino Worker (OFW) ID
Seaman’s Book
Government Office and GOCC ID [e.g. Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs]
Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
Department of Social Welfare and Development (DSWD) Certification
Integrated Bar of the Philippines ID
Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC
School ID, duly signed by the principal or head of the school (for students who are beneficiaries of remittances or fund transfers who are not yet of voting age)
*Please note that China Bank may require you to present additional IDs to establish and verify your identity.
Aside from the above-mentioned benefits of opening a Chinabank Kabayan Savings, you can also ask the bank to send you your monthly statement of account. This is optional but you can request so that you can track your transactions.
You can also access your account through branch ATMs, TellerPhone, China Bank Online or BancNet POS.
For more information, you may visit the nearest China Bank in your area!
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