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A bank account is really important for Overseas Filipino Workers since it will be the bank account where the cash may be coming from abroad. Opening a new bank account can be difficult since you do not know which bank is the right for your criteria. There are actually a lot of banks in the Philippines so choosing one is not effortless. In this posts, you may acquire information what bank to use to transfer money to the Philippines.

1. Banco de Oro

Banco de Oro or BDO ranked the topmost in the Philippine deposit banks among Filipinos. In 2009, BDO was chosen by the Central Bank of the Philippines as the No. 1 bank for OFW money remittances. It has severalk services and products cater particularly to OFW like the Kabayan savings account that may be opened by an OFW with P50 initial investment and no maintaining balance. BDO has also different kinds of banking like online, telephone and ATM banking.

2. Bank of the Philippine Islands

Bank of the Philippine Islands (BPI) was cited by Finance Asia the best money management bank in the country for 2009. I personally used BPI for my remittances to the Philippines. I believe BPI is one of the most desirable in terms of customer care and speed in responding to customer’s difficulties.

3. Metrobank

Metrobank is a noteworthy bank in the country and listed as a public company in the PSE. Last year, it belongs to the best five remittance bank of OFW. It has a wide chain of branches not solely in the Philippines yet

as well in another nations such as US, European countries, Korea and Middle East countries. Most OFW chooses Metrobank due to its good consumer service and plenty of branches across the country.

4. Chinabank

Ranking as fourth largest premiere bank by market financing in the country. Chinabank is rising as one of the preferred banks of Filipinos and many people. With its broad banking services by its multitude branches and ATM machine across the country, Chinabank is becoming accessible nationwide. It has Internet, ATM and mobile banking which you should avail to send money to other banks with very low charge for service.

5. Union Bank of the Philippines

In the Philippines, Union Bank ranks seventh in the biggest banks in regards of assets. It is a public compane included in PSE. Union Bank is a partnership among the companies and government institution in the country. Through its wide range of products, many people and OFW find Union Bank a good choice for banking and money transfer purposes. You can remit cash to the Philippines using Union Bank by PayPal, through remittance partners and through bank to bank wire transmittal.

Choosing a bank for remittance purposes depends on your necessities. Most all banks cater same services however you need to choose those which are customer-oriented and responds to client’s problems quickly.

Caleb Mateo is an investing blogger who loves writing on investments, mutual funds and earn money from the Internet. For helpful details on how to open a savings account like BDO Bank, you may go his blog for more and free articles.