Since I started advocating saving and investing through my forums and blog posts, a lot of overseas-based Filipinos are sending me questions whether they can open their investment accounts while abroad.
The first thing I would ask them back is, “Do you have a Philippine bank account?”.
Opening a stock or mutual fund portfolio while one is based abroad is possible. However, most of these stockbrokers and investment companies require applicants and would-be investors to have a Philippine bank account.
Some OFW’s eventually get discouraged because a lot of them have Philippine bank accounts that are not accepted by most stockbrokers and mutual fund companies. Most stockbrokers with affordable investment programs only recognize and have ties with the most popular banks in the Philippines such as Bank of the Philippine Islands (BPI), BDO Unibank, and Metrobank.
Can You Open A Philippine Savings Account Abroad?
Good news for you, OFW’s and foreign-based Filipinos!
YES, you can open your OFW savings account with BPI, BDO, PNB, Metrobank, and others through their overseas branches, subsidiaries, desk offices in tie-up banks, and remit offices in your country of work.
For the list of branches and remit offices of these banks overseas, click on the following links:
Metrobank
Metrobank Overseas Branches and Subsidiaries
Bank of Philippine Islands
BDO Unibank
Philippine National Bank
RCBC
Landbank of the Philippines
Landbank Subsidiaries Overseas
REMINDER: Opening a Philippine bank account in your country of work should be on an emergency case basis only. It’s still best to open your savings account in the Philippines before you leave for abroad or on your next vacation in the branch of your choice to avoid inconvenience and to enjoy all the benefits it entails.
Online Banking Enrollment
Although I’m not quite sure if all remit offices have this authority, the next best thing to do after opening your savings account is to enroll for an internet banking facility.
Inquire from the desk office where you opened your account if it is possible for them to assist you on this matter.
This is a very important requirement if you really want to pursue your investments in stocks, UITF’s, or mutual funds since funding of these are to be done mostly using your online banking facility.
Opening a savings account while you are abroad is one step forward. You need this to start your 2013 right so you can invest your hard-earned savings in stocks and other financial instruments back in the Philippines.
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Join the OFW UsapangPiso Facebook Group and Forum to learn how to plan your finances the right way and how to grow your money in various financial instruments and investment vehicles such as stocks, mutual funds, UITF’s, bonds, money market, real estate, and others.
P.S. 1. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at burngutierrezblog@yahoo.com.ph if you have any questions. Click here to join!
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Photo credits: Philip Bascon
very informative. Thank you so much for sharing
hello po ung sa denmark pede po ba kame maka open account….ang hirap ata dto.
Too bad, i am here in egypt so i can not open a Philippine savings account while i am here.
Im a Filipino and a USA citizen. do I need I a Filipino passport to open a saving account from BDO or any bank?
Hi Jojo, regardless if you are still a Philippine passport holder or a dual citizen, the banks will require you to submit at least two Philippine govt-issued ID’s.
can i open bank account here in taiwan
Hi Rowena, you can ask directly the Philippine remittance centers in Taiwan if they assist OFWs in opening Philippine bank accounts.
Can i open bank account here in kuwait …that i can withdraw in philippines..if im going back.
BPI don’t have an online open account or they won’t allow Filipino overseas to open an account while abroad. They advised me to open an account when I go back to Philippines.
Can i open a bank account while I’m here in Kuwait. Then if i go back in Philippines can i withdraw there. Thank you..
Mam my account n po q bdo 2 paano kb Mapa activate ulit para mahulugn q nsa jubail ksa q
Activate my account of bdo how to make Ofw here in jubhil ksa u have representative here,
Thanks.
Gd day sir / madam Ask lng Hu Myron pb kau representative bdo dto SA jubail ksa mag open Sana q account
Gusto ko po sana mg open ng bank account dto sa kuwait.panu po ba at san po banda dto?
Good pm po mam sir paano po ba dito mag open accounts sa Kuwait salamat poh
Hi, can I open a bdo account here in Durban South Africa.. gusto ko kc maka ipon.
my fiancé is in Dubai. can she open a BPi account there and withraw from what i deposit in the Philippines? thank you for the reply
Hello po pano po mag open ng account dto sa saudi jubail… merun po ba kau… dto representative…
Mag open po sana ako ng account asap,,, please help what would I do po am.working here in saudi arabia,,pm poko thabks,,
Gusto ko po mag open ng account ASAP,,, please help nman po,,, am working here in Saudi Arabia
Haireen imbag cattian
Hello @Haireen, may nilabas na kautusan ang Saudi Monetary Agency na bawal nang mag-offer ng products or open ng account ang mga foreign banks. Kaya medyo mahirapan tayo ngayon. Pero subukan mo pa din kumausap sa mga Pinoy sa remittance centers gaya ng Zamil at ANB kung nakakalusot pa din ang pag-assist sa pag-open ng account.
Kung hindi na talaga pwede, ang pinakamainam na gawin ay ang kamag-anak mo muna sa Pinas ang mag-open ng account. Sa pag-uwi sa bakasyon mo, isama mo sa schedule mo ang pagbisita sa bangko at iba pang importanteng mga dapat ayusin.
Good DAy..
panu po mag open ng bank account in Kuwait??para ma withraw ko sa pinas pag uwi ko??salamat po.
Hello po Dati napo akong me account sa BPI bago Ako umalis last 2014 pero diko pa po nahuhulugan itatanong Ko Lang po kung activate parin ba yun at pwede Ko ba hulugan kahit Ganun na katagal. Andito po Ako ngaun sa UK.Reply po SA imail add Ko salamat
Hellow poh andito po ako sa kuwait paanu po magpa open ng ATM account..
Hi…good day.maaactivate ko pa ba ang BDO account ko kahit close na sya?dto po ako Kuwait.at paano po ang paraan para magamit o ma actovate ito ulit.
Need your opinion po para masigurado ko ang hakbang na gagawin ko.salamat po.God bless.
para sa mga kababayan ko na andito sa kuwait kagaya ko pwede po kayo bumisita sa mga remittance center na mga pinoy at itanong kung anong bank ang associated sa kanila para makapag open po kayo ng account…example dito po sa FAHAHEEL may isang remittance center na nag oopen ng account para sa BDO bbgyan ka nila ng casd (ATM Card) at pwede mo ma withdtraw ang pera na dineposit mo pag uwi ng pinas.
For OFWs in Canada, you can open a PNB account in different branches. I opened my account in Calgary. I blog about it and I hope that will help you open a PNB checking or savings account not just in Canada.
Hello everyone. Gusto ko sana mag open ng dollar account s pinas. Naka base ako ngayon here s USA. Pwede ko ba gawin online o kelangan ko umuwi ng pinas pra mag apply? Thank you in advance 🙂
Hello @Ruby. Saan state ka? Metrobank and PNB lang so far ang alam ko na may branches sa New York and California. You have to be present in their branch to open an account.
may land bank b s California?
Mag open Accnt sana ako. ty
san poh banda ang office ng BPI kuwait at anu poh mga kailangan..salamat poh
Sir, dto po ako sa abroad at gusto ko po mg kuha ng savings account sa banko, paano po mg ka open account sa banko gusto ko mg ipon, wla kasi akong day off dto.. Poyde Ba sa ka mg anak or kapatid ko nlng mg apply sa Bangko at nka pangalan sa akin savings account? ASAP please thank you God bless..
Hi Judith, saan bansa ka ngayon? Depende kase sa bansa kung meron banking partnership ang mga Philippine banks. Kapag ganun pwede ka mag-open ng account dyan. Pero kung walang ganun facility dyan, kailangan nasa Pilipinas ka kapag nag-open ka ng bank account. Ang nakikita ko lang solusyon sa ngayon ay mag-open ka ng isang mutual fund account. Pwede ka dun mag-ipon na and at the same time nakakapaginvest ka na rin. Pwede kita matulungan makapag-open ka ng mutual fund account kahit nasa abroad ka.
Dito ako sa madinah munawarah KSA..mayron ba kayong representative dito,pwede ba mag apply sa mga telemoney dito?