I bank with Banco De Oro and have observed over the past 6 months how aggressively they’ve been developing banking services for OFWs. Their flyer reads:
BDO Asenso Kabayan
Laging Maaasahan, kahit saan
Here’s a quick rundown of their services:
- BDO Kabayan savings – Peso or US Dollar account, Passbook and International ATM Card, as low as P100 initial deposit, easy way to receive remittance.
- BDO Remit – Cash Pick-up at BDO Branches, SM Dep’t stores, BDO Onsite Service Outlets, Rural Bank Partners.
- BDO Remit Cash Cards – Online remittance, Available 24/7, withdraw from 3,000 ATMs of BDO, Expressnet and Megalink
- BDO Kabayan Loans – BDO Kabayan Home Loan, BDO Kabayan Auto Loan, BDO Kabayan personal Loan (capital for business or emergencies)
- BDO Kabayan Homes – housing for as low as P3,700 around Angono Rizal, Cavite, Laguna, Quezon City
- BDO Kabayan Bills Bayad – Pay bills from other countries, gives the OFW control over Philippine-household finances
It’s a good set of services. I also like the unified marketing of the services, it helps OFWs get a good quick glimpse of services available.
I’m especially pleased with BDO Kabayan Bills Bayad. It adresses a concern I wrote in a previous article, Edong’s Dreams – Mobile Services for OFWs.
Home Finance Management – enabling OFWs to pay school tuition fees or house bills or rent-to-own house payments *directly* instead of sending the money to Tito Boy who ends up making the videoke bar rich. To some extent, this is already happening as telcos allow OFWs in Hong Kong or Japan to load cellphones of relatives in the Philippines.
The BDO Flyer does not have specifics, though, about the BDO Kabayan Bills Bayad. Is it done over-the-counter at affiliate offices? Is it done online? What bills can the OFW pay for?
Keep it up, BDO. I’ll be watching out for more.
BDO Call center: 631-800 (Metro Manila), 1800-10-6318000 (Free call outside of Metro Manila), +800-8-6318000 (Free call outside of the Philippines (IAC))
By the way, I’ve formulated a way for OFWs to control the Philippine-household finances. Tell you more about it in a future article.
Documentary Requirements (added January 2008)
BDO boy, aka Piolo Pascual ;-p
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