How BDO Unibank ensures a better future for OFWs and their families

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Photo from BDO Kabayan

Metro Manila (CNN Philippines) — Many think that overseas Filipino workers hit the jackpot with their jobs. But in reality, luck is not always on their side.

Maria Theresa Aquino, a Filipino worker in Hong Kong for 17 years, struggled but she looked for ways to earn more to better provide for her family in the Philippines.

Despite all the challenges, she has managed her finances very well as she has already been financially literate prior to flying abroad.

Sa mga baguhang OFWs, meron pong tinatawag na pre-departure seminar. Tinuturo dito ang pamamahala ng pinansyal at naging malaking bahagi dito ang BDO Kabayan Savings. Nagpapasalamat po ako at natutunan ko po ito bago lumabas ng bansa — ang makapagpadala sa account at makaipon,” Aquino said.

[Translation: For new OFWs, we have what we call pre-departure seminar. They teach us financial management and BDO Kabayan Savings has played a big role here. I'm grateful I got to know this before I left the country - to be able to send money to my account and save up.]

BDO Kabayan Savings is the Filipino migrant workers’ key to a better future. To secure their financials, the first step for OFWs is to open a bank account, which can easily be done through BDO Kabayan Savings. This only requires a minimum initial deposit of PHP100 for a peso account or USD100 for a dollar account, and one valid ID.

Through BDO Kabayan Savings, beneficiaries may also start saving from the remittances they receive. They may simply withdraw the amount they need and leave the rest in the account for savings — helping them manage their funds better.

Beneficiaries can save even more from their remittances through BDO Unibank’s Cash Agad withdrawal service. Beneficiaries, especially in remote or rural areas, can spend less money and time on transportation as they can withdraw remittances through Cash Agad partner-stores near them.

Cash Agad has set up point-of-sale (POS) terminals in sari-sari stores, gas stations, bakeries, groceries, hardware stores, and other establishments nationwide. These innovative POS terminals allow these businesses to accept ATM cards like BDO Kabayan to process withdrawals similar to what an ATM does. With over 10,000 Cash Agad partner-stores, withdrawal has been made convenient across the country.

Aside from earning service fees from these withdrawal transactions, Cash Agad’s partner-stores are also able to grow their businesses since customers also do their errands in their shops after withdrawing their cash. These partner-stores become a convenient one-stop shop for beneficiaries to receive remittances and make essential purchases for their families.

BDO Unibank’s Cash Agad also supports the overall development of the surrounding business communities since these customers also spend their cash in neighboring establishments.

BDO Kabayan Savings and BDO Unibank’s Cash Agad both support overseas Filipinos in becoming more equipped to realize their life and financial goals. As they grow their banking relationship and build their credit history with BDO Unibank, it becomes easier for them to apply for car, home, or business loans, and avail of the bank’s investment products in the Philippines.

Truly, BDO Unibank is there to help and guide our kababayans every step of the way, whether they’re in the Philippines or abroad.

To know more about BDO Kabayan Savings, visit https://www.bdo.com.ph/personal/remittance-services/bdo-kabayan-savings.