Popular Banks In The Philippines Among OFW
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A bank account is very important for OFW since it will be the account where the cash will be sent from overseas. Opening a new bank account can be hard since you do not realize which bank is the best for your needs. There are actually a lot of banks in the Philippines so choosing one is not easy. In this posts, you can acquire information which bank to use to transfer cash to the Philippines.
1. BDO Bank
Banco de Oro or BDO placed the topmost in the Philippine banks among OFW. In 2009, BDO was chosen by the Central Bank of the Philippines as the No. 1 bank among OFW remittances. It has many services and products offer particularly to OFW such as the Kabayan Savings account which can be opened by an OFW with P50 first deposit and without maintaining balance. BDO has also other kinds of banking such as Internet, telephone and ATM banking.
2. BPI
Bank of the Philippine Islands (BPI) was named by Finance Asia the most desirable cash management bank in the Philippines for 2009. I personally used BPI for my remittances to the Philippines. I think BPI is one of the advantageous in terms of customer service and speed in answering to client's difficulties.
3. Metrobank Philippines
Metrobank is a famous bank in the Philippines and registered as a public enterprise in the Philippine Stock Exchange. Last year, it is included to the top five remittance bank of OFW. It has a broad chain of branches not just in the Philippines but also in other countries like US, European countries, Korea and Middle East countries. Most OFW chooses Metrobank because of its good customer service and plenty of branches all over the nation.
4. Chinabank
Placing as fourth largest universal bank by market capitalization in the Philippines. Chinabank is rising as one of the preferred banks of OFW and many Filipinos. With its broad banking services through its many branches and ATM machine across the country, Chinabank is going available nationwide. It has online, ATM and mobile banking which you should use to send cash to other banks with very low charge for service.
5. Union Bank
In the Philippines, Union Bank places seventh in the biggest banks in terms of assets. It is a listed bank included in Philippine Stock Exchange. Union Bank is a partnership among the companies and government institution in the country. With its wide array of services, many people and OFW see Union Bank a good choice for banking and remittance purposes. You can send money to the Philippines using Union Bank by PayPal, through money transfer affiliates and by bank to bank wire transfer.
Picking a bank for remittance purposes depends on your goals. Essentially all banks cater same products but you need to choose those which are customer-oriented and answers to client's problems quickly.
Article Source: Articlelogy.com
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