If you are the "manager" of remittances sent by an Overseas Filipino Worker (OFW), this savings account is designed just for you. With the BPI Padala Moneyger, you can effectively budget and save for your family's future. Remittances are sent directly into your account in a safe and very convenient way.
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Convenient!
Remittances will be directed to your BPI Padala Moneyger Account any time of the day, even during holidays! Balance can be checked online. You can also do other transaction with your account such as transfer funds and pay bills. It means you don't need to withdraw all the money sent to you. You can manage your financial transaction with a tip of your finger via mobile banking.
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Safe!
Withdraw only as needed! The money is safe within the account. You don't need to withdraw the whole amount and carry the cash home with you. With BPI Padala Manager, you can withdraw anytime, anywhere via BPI ATM nationwide. And one more thing, there is no withdrawal fee!
Read: 10 Best Banks to Open Savings Account in the Philippines
Affordable
BPI Padala Manager does not require you to have a maintaining balance. Just make sure you have four remittance transactions per account in a year! This requirement is very easy because we all know that OFW sends remittances almost every month!
Withdraw only as needed! The money is safe within the account. You don't need to withdraw the whole amount and carry the cash home with you. With BPI Padala Manager, you can withdraw anytime, anywhere via BPI ATM nationwide. And one more thing, there is no withdrawal fee!
Read: 10 Best Banks to Open Savings Account in the Philippines
Affordable
BPI Padala Manager does not require you to have a maintaining balance. Just make sure you have four remittance transactions per account in a year! This requirement is very easy because we all know that OFW sends remittances almost every month!
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Product Pricing and Rate
- Type of Deposit — BPI Padala Moneyger
- Required Initial Deposit — None
- Required Minimum Monthly ADB — Waived. As long as there are 4 remittances in a year!
- Required Daily Balance to Earn Interest — P5,000
- Interest Rate — 0.25% per annum
Opening a BPI Padala Moneyger Account is very easy!
Step — 1: Visit any BPI or BPI Family Savings Bank branch nearest you!
Step — 2: Bring the following requirements
- One (1) original, valid ID with photo and signature
- Proof of remittance, such as any of the following: Copy of previous remittance transaction receipt (maybe from pawnshops, remittance centers, etc.)
- Copy of remitter’s work contract, work visa/work permit, overseas employment certificate from POEA, OWWA ID, ODOS certificate, etc.
- Copy of statement of bank account showing remittance credit
- Referral letter from BPI Overseas Customer Segment. This document may be presented upon claiming of a debit card.
Step — 3: Fill out the Standard Account Opening forms
Step — 4: Wait for three days for the Debit Card of your Padala Moneyger account. This will be available at the branch where you opened an account!
There you go. We all know that budgeting OFW's money is not easy with increasing prices of products and services lately. But always remember to set aside a small part of the remittances for the savings. Working abroad is not easy and it won't last forever.
This article is filed under savings account, remittances, best bank for savings, mobile banking, interest rates, financial transactions, deposit account, and savings bank!
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