Are you looking for a new bank account where you can receive remittances or keep your savings safely and with less hassle?
Good news! BPI has created a new product called BPI Padala Moneyger which is an affordable savings account that is specially designed for those who receive remittances from abroad.
Compared to other accounts, BPI Padala Moneyger does not require an initial deposit. In addition to that, the required minimum monthly ADB will be waived as long as there are 4 remittances in a year.
If you want to earn interest, you will only be required to have a minimum of Php 5,000 in your BPI Padala Moneyger account. The interest rate per annum (per year) is 0.25%.
How to Open a BPI Padala Moneyger
Unlike other banks, opening a BPI Padala Moneyger account is very easy and fast.
You only need to have one valid ID!
You don’t even have to bring cash to open an account since there’s no initial deposit required.
Step 1 – Just visit the nearest BPI branch and bring the following requirements:
- 1 valid ID (original and photocopy) – must have a photo and signature on the ID
- Proof of remittance
The proof of remittance can be a copy of your previous remittance transaction receipt, OR a copy of remitter’s work contract, work visa/work permit, overseas employment certificate from POEA, OWWA ID, ODOS certificate, etc.,OR a copy of the statement of bank account showing remittance credit.
If you don’t have any of the above documents, you may also submit a Referral letter from BPI Overseas Customer Segment, which you may have to present upon claiming your BPI Padala Moneyger debit card.
Step 2 – At the bank branch, you will have to fill out the Standard Account Opening forms.
When can you receive your BPI Padala Moneyger?
Your BPI Padala Moneyger debit card will be available at the branch where you opened the account after 3 banking days.
You may also call the branch before heading there to inquire if your debit card is already available for pick up.
Why Open BPI Padala Moneyger?
This is one of the newest products of BPI that is designed for those who receive remittances and it has features that will surely give you many advantages such as:
- Affordable – this account requires no Initial Deposit
- Remit directly to your account – Unlike when you’re receiving remittance from a remittance center, you don’t need to claim it there then deposit to your separate bank account to keep your savings. With BPI Padala Moneyger, your remittance will be deposited directly to your account.
- Withdraw only as needed – You don’t need to withdraw the full remittance amount. With BPI Padala Moneyger, you may only withdraw the amount you need while keeping the rest in your account.
- No Maintaining balance – As long as you have 4 remittances in your account in a year, you don’t have to worry about the maintaining balance.
- Safe, secure, and Less Hassle – It gives you peace of mind when you know your remittance is directly remitted to your account plus it saves a lot of your time. Watch this video to know what I mean…
How to Contact BPI
If you want to know more about this product or you have further inquiries, you may contact BPI directly at (02) 816-9011 or visit the nearest BPI or BPI Family Savings Bank branch in your area.
If you want to know the other bank account types that BPI offers, click here.
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