BSP Names BDO the Top Remittance Bank

With BDO Unibank, Inc. claiming the biggest share of remittances being coursed through the banks by Filipinos overseas, the Bangko Sentral ng Pilipinas (BSP) awarded the Bank as this year’s Top Remittance Bank during the BSP Annual Stakeholders Awards.


BDO allows Filipinos overseas to send money to the Philippines through the Bank's subsidiary and representative offices in Hong Kong, Macau, USA, Italy, Germany, France and Israel. BDO also has thousands of remittance partners and agent locations in Asia and Oceania, Australia, Middle East, North America and Europe where Filipinos can send remittances.


One way of sending remittances is through the BDO Kabayan Savings Account, a special account for Filipinos overseas and their beneficiaries. Understanding the needs of Filipinos overseas and their families here in the Philippines, BDO has made account opening easier and hassle-free. Opening a BDO Kabayan Savings account only requires one valid ID and an initial deposit of P50 for peso account which comes with an international ATM card and a passbook that customers can get upon account opening. Using the international ATM card, beneficiaries can withdraw their remittances from more than 6,000 BDO, Expressnet and Megalink ATMs nationwide.


Another product from the Bank is the BDO Remit Cash Card, an electronic ATM card that also works as a debit card. It is the fastest way to receive remittances as funds are credited within minutes. Filipinos can purchase the card at any BDO Remit office and remittance partner abroad and have it sent to their families in the Philippines. Through the BDO Remit Cash Card, beneficiaries can withdraw cash at any BDO, Expressnet and Megalink ATMs. As debit card, they can make purchases at SM department stores and other establishments with Express Payment System (EPS) terminals without the need to carry cash.


Remittances can also be sent through BDO Remit Cash Pick-up Anywhere. Filipinos overseas can send money and have it claimed by their beneficiaries at more than 3,000 BDO Remit Cash Pick-up locations in the Philippines. With this, remittances can be claimed at any BDO branch, SM Business Service Center or SM Forex Counter in SM Department Stores, Makro outlets and SM Savemore branches. And to reach customers in areas where BDO has no presence, BDO partnered with several rural banks where beneficiaries can also claim remittances more conveniently.


BDO’s passion to provide service beyond traditional remittance is driven by the significant contribution of Filipinos overseas to the economy. And with BDO’s growing network of local and international partners, Filipinos overseas and their families in the Philippines are rest assured, BDO services are made available to them wherever they may be.