You can learn about how to deposit to your kabayan savings account in BDO if you are in Saudi or other countries through this site: http://www.workingpinoy.com/2009/06/bdo-kabayan-savings-bdo-remit-cash-card-for-ofws/ . BDO has a special savings account offered to overseas foreign workers as well as their families who are in the Philippines.
There are a number of services offered by BDO to help make the lives of OFWs and their families much easier. It's definitely the bank of choice of many OFWs.
- The account can be opened in the Philippines as well as abroad. The amount can be deposited in Philippine pesos or US dollars.
- The initial deposit requirements are 50 pesos for a Philippine peso account and $100 for a dollar account. There is no maintaining balance required as long as at least one remittance a year is sent.
- Account holders are then given a Debit Card run by Mastercard and a Passbook.
- For seafarers, they can open a dollar savings account where they can make use of a passbook as well for only $10. The only requirements for registering the account is the valid seaman's book and one valid ID.
- There are many things one can do with the Kabayan savings account to help your families in the Philippines. One of them is being able to arrange with BDO with regard to the home loan payment as well as insurance premiums through BDO's service called Auto Debit Arrangement.
- The BDO Remit Cash Card from BDO is similar to the regular BDO Cash Card although it can be acquired abroad through selected BDO remittance service centers. These service centers are not difficult to find because there are thousands around the world especially in countries where there is a high concentration of Filipino overseas foreign workers.
- Money can also be sent directly through the BDO Cash card remit account.
There are a number of services offered by BDO to help make the lives of OFWs and their families much easier. It's definitely the bank of choice of many OFWs.
