BDO offers a service that allows you to send money to the Philippines with promises of speed, convenience, and security.
The combination of these three qualities is rather hard to come by when you are in the other part of the world, allowing a service provider to make your family feel that how much you love them and how much you care for them.
Kabayan BDO Savings account is designed to make it easier for you. Learn more about it as you continue reading.
Your BDO Kabayan Savings Account is your key to a better future as you start your life aboard. By having an account, you build credit history with the bank, making it easier for you to apply for a car, home, or business loan in the Philippines:
- Kabayan Home Loan – Build your dream home for your family.
- Kabayan Auto Loan – Buy your own dream car.
- Kabayan Personal Loan – Start you own business or finance other important needs.
BDO Kabayan Savings Account holders can conveniently pay for their loans and insurance through an auto-debit arrangement (ADA).
What do you need to open a Kabayan Account in BDO Unibank?
Here are the BDO requirements to open account and experience the benefits of having a Kabayan account.
- A hundred. You will need Php100.00 if you are opening a peso account. If you want to open a dollar account, you will need $100.00.
- Positive ID. You need one valid ID. BDO accepts company IDs as long as your company is BSP, SEC, or IC registered or supervised. Other valid IDs accepted are passport, SSS ID with your photo and your signature, Philhealth card, PRC ID, valid school IDs for students, NSO copy of your birth certificate, driver’s license, plastic TIN Number ID card with your photo, GSIS, Voter’s ID, and major credit cards. You can also submit government issued IDs such as postal ID, OWWA or Overseas Workers Welfare Administration ID, HDMF ID, IBP ID, Senior Citizen ID, police clearance, marriage certificate, seaman’s book, firearms license, AFP ID, PNP ID, NBI clearance, and barangay certificate or barangay clearance.
- Picture Perfect. Bring one 1X1 ID picture.
- Seafarers. For seafarers, as long as you are POEA employed, you can send your allotment directly to a BDO Kabayan account. All you need is an initial deposit of $10.00, your valid seaman’s book, and one 1×1 ID photo.
Easy Steps to Open Savings Account
To open a BDO passbook savings account, just go to a BDO branch that you prefer.
Be sure that you have the abovementioned requirements. Once in BDO, you will fill out a form. You have to make sure that you fill it in with true and accurate information. Make the required initial deposit.
Keep your deposit slip because it is needed for claiming your passbook or your ATM card. Then, wait for about five business days.
After five working days, you can now go back to the BDO branch where you applied for your Kabayan account to get your ATM card or your passbook. To have an even more convenient banking experience, enroll for online banking and for phone banking.
5 The BDO Kabayan Account Advantage
Working overseas will be in vain if you will not be able to keep your money safe and if you will not be able to make it grow. If you’re ready not just to save but also to earn, prepare your Kabayan BDO passbook savings account requirements and enroll now to enjoy these benefits.
- Insignificant Initial. With just a hundred peso or a hundred dollars, you can open a Kabayan account and establish your future.
- Instant Remittance. Waiting is one thing that your family has always been doing. This is why BDO makes sure that when it comes to remittance, they never have to wait. Instantly, your remittance is credited to their account. It saves you money from expensive remittance through other channels. It saves you time because your remittance is received immediately. It saves you effort because you can even do fund transfer online and there is no need to follow up on your remittance. You can even monitor your account activities through BDO remittance inquiry online or via phone.
- Free Passbook. When you open a Kabayan account, you also get a passbook. This is perfect for transparency and for easy monitoring of your banking activities.
- Withdraw all you can, outside the country. Unlike other kinds of account, you can keep your Kabayan account active so long as you use it at least once a year for sending money. It requires zero maintaining balance so you do not have to worry about leaving some of the remittance in your account.
- Convenient. You and your beneficiaries can easily withdraw funds practically anywhere you want. Aside from more than eleven thousand ATMs, you can also pay for your purchases using your ATM card at SM stores and other stores. It is also convenient to check your balance at www.bdo.com balance inquiry.
There is only one possible downside when using a Kabayan account. You need to use it at least once a year to prevent BDO savings account expiration. When it expires, your Kabayan account will turn into a savings account which needs a higher maintaining balance of ₱5,000.00.
With your BDO Kabayan account, you can even avail of personal loans that you can use for properties purchase, home improvement, travel, medical emergencies, education, special occasions, furniture, debt payment, and more.