After having received more than 50 inquiries from OFW’s and Pinoys abroad about the possibility of opening an UITF account with BDO, I decided to settle things with the bank’s Trust and Investments Group once and for all.
I sent an email through their Contact Us page yesterday and I am so glad to receive a response from them in less than a day’s time.
Is it really possible or not for BDO clients who are based or working overseas to apply for the Easy Investment Plan? Here’s the detailed and helpful response from the BDO Trust and Investment Group’s Product Training Officer:
“Currently, when OFs (Overseas Filipinos) e-mail us of their interest to apply in the BDO Easy Investment Plan and their servicing branch here in the Philippines (where they opened their BDO savings or checking account) agrees to accommodate their request, we facilitate the opening of the investment account by sending the soft copy of UITF account opening forms (including the BDO EIP application form) to them and assist in the OF-branch coordination (verification and review of accomplishment of the investment account opening forms).
We then require the sending of the originally signed forms to the servicing branch before the BDO EIP account is actually opened. Their evidence of participation will also remain in the custody of the servicing branch until the OF visits the branch personally.
Usually, the servicing branch agrees to facilitate the BDO EIP account opening when the OF’s records with them are up-to-date, complete and compliant to BSP regulations. OFs with BDO accounts whose KYC (Know Your Client) records are outdated or needs updating are usually advised to instead open the BDO EIP account upon their homecoming.
We will highly appreciate that you share our reply to those Overseas Filipinos you mentioned so that they can directly e-mail investments@bdo.com.ph so we can facilitate their request on a case-to-case basis.
Again, our sincerest thanks for your concern and assistance to your fellow OFs.
Thank you and may God bless your advocacy in helping OFs reach their financial goals.”
Kudos to the BDO Trust and Investments Group! And another salute for their selflessness and willingness to uplift the financial conditions of Filipinos working abroad. I hope that more OFW’s will take this opportunity to jumpstart their investing journey towards achieving their financial goals.
So if you are an existing BDO client but currently based abroad (meaning you have an active savings account or any other bank product with BDO), then this is your chance to apply for an Easy Investment Plan account and be invested in BDO’s different UITF (unit investment trust fund) products that are performing amazingly in the market.
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P.S. 1. Are you an OFW who’s been looking for a investment placement where your money could grow higher than your bank savings or time deposit accounts? Are you outside of Metro Manila and would like to start investing in mutual funds but have no personal advisors to help you out? Click here so I can help you open a mutual fund account NOW! .
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P.S. 2. The OFW UsapangPiso Philippines and Angat Pilipinas Coalition for Financial Literacy bring Marvin Germo’s Stock Smarts to Lucena City on May 24, 2014, 1PM-5PM at Koon Lin Seafood Restaurant. For details and registration, email Carmi at ciarevilla@gmail.com or you may register online through this link.
P.S. 3. The OFW UsapangPiso KSA Chapter will be conducting a series of financial literacy seminars to OFW’s in the Eastern Province and in Bahrain on May 23, 2014 (Al Ahsa), May 30 (International Philippine School of Al Khobar or IPSA), and June 20 (JCSGO Manama, Bahrain). Keep on visiting our Facebook group and forum site for updates on these events.
hi sir burn isa po akong ofw dito sa hk gusto ko mag invest,dko alm kung paano at kung aling investment para sa tulad ofw.sana po matulungn nyo ako maraming salamat po.
Robert, sundin mo lang yung nakasulat sa article sa taas. Yan ay kung meron ka nang BDO savings account. Click mo lang yung link na “UITF Account Opening Forms”. Kung wala kang BDO savings account, pwede mong sabihan ang miembro ng pamilya mo na mag-open ng Kabayan Savings account sa BDO at i-enroll ito sa BDO EIP.
SIR.wala po akong account,ofw po ako,at wala pong bdo bank dito,paano po gusto ko pong mag investment.thank you po,
Belen, kung wala kang BDO savings account, pwede mong sabihan ang miembro ng pamilya mo na mag-open ng Kabayan Savings account sa BDO at i-enroll ito sa BDO EIP. Sabihin lang nila sa bank employee na dependent mo sila. Sila muna ang pansamantlang maginvest para sa yo. Magdala lang sila ng ID picture, mga ID’s, at fill out nila ang mga forms dun sa bangko. Huwag sila mahihiyang magtanong sa customer service tellers.
Pag uwi mo sa bakasyon, ikaw na mismo ang dumerecho sa BDO para mag-open ng accounts.
pero paguwi ng pinas baka wala na pong laman ang bank accnt
Just like to share, I have both BPI and BDO UITF Funds but BPI is way better, their online Investment Fund Platform lets you add and redeem fund online, real time unlike bdo where you can only view your investment accounts.
Sir, tanong ko lng po may savings npo ako sa bdo? Isa po akong ofw. May nkapag sabi po skin na kaysa savings e mag invest dw po ako? E ano po bang investment ang pra sa gya kung ofw? At pano po yung savings ko sa bdo? Hayaan ko nlng po sya na nsa savings lng po? Censya npo at maraming salamat po? Sna po mabigyan nyo ko ng payo.
Bernard, importante na malaman natin na ang pera sa savings ay tumutubo pero higit na mas mababa sa”inflation”.
Ibig sabihin ng “inflation” ay ang pagtaas sa pangkalahatang presyo ng mga basic goods at services sa pagtakbo ng panahon. Halimbawa, ang P100 mo noong 1999 ay makakabili pa ng Big Mac Meal sa McDonald’s sa halagang P75. May sukli ka pang P25. Fast forward 2014, halos P200 na ang halaga ng Big Mac Meal. Ibig sabihin, kung nilagay mo lang sa savings account ang P100 mo noong 1999, hindi mo na ito magagamit na pambili ng Big Mac ngayong taon na ito.
Kailangan may paglagakan ka ng pera mo bukod sa savings account mo. Itong article ko sa taas ay isang uri ng investment na kumikita ng higit sa kinikita mo sa savings account interest mo. Siempre, depende sa galaw ng merkado, pero sa pangmatagalan, higit na kikita ang pera mo dito. Mas higit sa inflation rate natin ngayon na 4%+.
Ang tawag sa investment na binabanggit ko sa article ay ang UITF or unit investment trust fund. Pakibasa mo ulit ang article at i-click mo lang yung link sa taas na “Easy Investment Plan” para malaman mo kung ano ito at kung paano kikita ang pera mo dito.
hello sir, im working as OFW. since nabasa ko ang forum niyo sa itaas, i went to BDO last may 2014 nong nagbakasyun ako. i was talking to the bank and referred me to sales marketing manager.kaso instead of EIP ang porpose plan ko at nag offer sila ng Generrali Philippines life insurance and at desame time retirement and savings. i was convinced to put my money at kumuha ako ng plan na 300k and i was choosing annualy which i paid for 84,559 .and return is 12,000k pero makukuha ito sa ika 2nd year either idadagdag at pwedi ring kunin.so far ang policy ay nasa akin na. nagtrabaho ako sa war zone country dito sa afghanistan u.s military base and this is what they offered from me. i was wondering if i made a mistake sa investment, since i have also few stocks market na pinaglalgyan ko ng pera.thank you
Sadly, ganyan nga ang nagiging response ng mga BDO branches, kaya ang advise ko sa article sa taas ay dumerecho kayo ng communication sa BDO Trust Department (ibinigay ko ang email sa taas, sa article ko) at sila na ang bahala makipagugnayan sa branch ninyo.
hello sir…nagtanong po ako BDO hk branch…sa pinas lang daw po pwede magprocess ng UITF?
Hello, pakibasa lang ulit ng article. Sa BDO Trust department po kayo makipagugnayan via email. Pakibanggit lang na dito nyo nabasa sa blog ko ang information about UITF/EIP.
Sir Burn, nice post here. Thanks for the information.
Hello po! Im very lucky ng umuwi ako last February nag invest ako sa UITF ng BDO and every month naghuhulog po ako ng 3,000 pesos contribution. I am an OFW here in HK… Kudos BDO… Sarap ng feeling na ang perang pinaghirapan ay lumalago…
Sir gusto q po mg invest kyalng d q po alam gawin ofw po aq dito s korea sana matulongan nio po q..
Hi Bryan, kailangan pag nag invest ka ikaw mismo personal ang pupunta sa bangko. Kasi kailangan mog fill up ng form. Dati kasi nag inquire ako dito sa Hk at ang sabi kailangan sa Pilipinas mag apply ng investment kasi nga remittance lng sila dito. Kaya ng umuwi ako last yr., Feb. 2014 nakapag invest ako. UITF and my monthly na hulog ay 3,000 pesos. Depende sayo if magkano ang kaya mo every month at ilang beses sa isang buwan. Puwedeng every 15th and 30th of the month maghulog ka. Ang pinakamababa ata na hulog is 1000.
Hi I am an OFW. Which is one is better BDO or BPI? in terms of UITF and it’s platform… sorry for the newbie question.
e.g.
– easy participation and redemption
– transfer of funds from savings account to investment account through online
– transfer of funds from invest account to savings
– hassle free (just go to the bank during account opening, then everything online)
Hello burn goodmorning! 🙂
I really wld like to apply on bdo investment plan infact i have calling the branch of bdo in our place and told me that they do not do such for an ofw…..what they want me to do is to ask a relaltive to apply and i will be the beneficiary.
Pls advise .
Sir anong product po ang mairerecommend ninyo