How to Open a PBCom OFW Savings Account

Today, it’s easier than ever to open an OFW savings account. In the past, people had to go through a lot of steps and complete a lot of paperwork in order to open an account. This made opening accounts harder for the average person. Thankfully, that’s not the case anymore. There are now many kinds of accounts available for you to choose from, one of which is the PBCom OFW Savings account.

PBCom is one of the biggest and most trusted banks in the Philippines. It offers savings accounts to OFWs as well, but it’s important to know that only those who are currently working abroad can open an account with them. It’s easy to open an account. You need some basic information about yourself and your employment, then you can submit everything online or at any branch of PBCom in the Philippines or abroad. You may also ask for their help if needed through their customer service hotline 24/7. To learn more on how to open a PBCom OFW Savings account, read on.

How to Open a PBCom OFW Savings Account

Opening a PBCom OFW Savings Account

Savings accounts are one of the most common types of bank accounts. They’re useful for storing money you don’t need to spend right away. When you have money in a savings account, it’s safe from any negative events that might happen—for instance, if someone tried to steal your credit card or debit card information, your bank would reimburse you for losses caused by fraud.

An OFW (Overseas Filipino Worker) savings account is designed specifically for people who work overseas and send money back home to their families in the Philippines every month. These savings accounts often have lower fees because they require more maintenance than other types of accounts—for example, these banks will often require additional documentation from customers when opening an account with them. Because these banks are trying to attract customers by offering lower fees compared with traditional banks around the world (which many Filipinos don’t want because they feel like they’re paying too much), opening an OFW Savings Account can be very easy!

Why Open a PBCom OFW Savings Account

You’ll earn higher interest, rewards, and cashback on your savings. You can also get freebies and discounts from local merchants, as well as cash back from the bank. Not to mention, the more you deposit into the account—and make use of its services—the more points you’ll earn.

That’s not all: by opening a PBCom OFW Savings Account now, you’re also helping to establish a good credit history for when it’s time for a personal loan or other financial product like insurance. Here are other good reasons to open a savings account with PBCom:

  • Affordable maintaining balance of as low as P5,000 for Savings Account
  • Enjoy the convenience of banking online with POP (PBCOM Online Platform)
  • Experience the power of choice as you select the account features that fit your personal or business needs
  • Grow your balance and enjoy higher returns with our tiered interest rates

Types of PBCom Savings Accounts

  • PBCom Savings Account: The traditional savings account, which can be started with any amount of money.
  • PBCom Investment Account: An investment account that allows you to invest in a variety of stocks and mutual funds, in addition to making use of the financial advisory services that are provided by the company.
  • PBCom OFW Savings Account: This is an alternative to the traditional savings accounts and fixed deposits that other banks in the Philippines offer, and it is designed specifically for Overseas Filipino Workers (OFWs) or their dependents who are working abroad or who are planning to work abroad in the near future.

PBCom Savings Account Features

PBCom Savings Account features include:

    • P5,000 (Savings)
    • P10,000 (Checking)
    • P10,000 (Savings)
    • P25,000 (Checking)
    • From 0.10% to 0.15%
    • ATM or Passbook for Savings; Checkbook, ATM or Passbook for Checking

PBCom OFW Savings Account: Eligibility

  • You need to be a citizen of the Philippines in order to open an OFW Savings Account.
  • Have at least 18 years under your belt (unless you are an OFW).
  • You need to have lived in the Philippines for at least a year to qualify.
  • When you apply for the account, make sure to bring your PBCom ATM card with you (they will not accept other ATM cards from other banks).

PBCom OFW Savings Account: Requirements

In order to access this account, you are required to  submit the following documents:

  • For individuals, one (1) valid ID only
  • For corporate entities, one (1) valid ID per party/signatory, proof of registration (DTI, SEC) and board / partnership resolution to open an account

PBCom OFW Savings Account Opening – Offline: Procedures

  • You can get in touch with PBCom at any of its locations.
  • The following items should be brought along with you:
  • Valid ID (Philippine passport, driver’s licence, SSS ID, etc.)
  • evidence of your employment, which should include the full name and number of your employer, as well as any other relevant information.
  • Proof of residency, as evidenced by appropriate documentation (utility bill or bank statement)

PBCom OFW Savings Account Opening – Online: Procedures

  • You can access your account on by logging in.
  • Click the “Open an Account” button in order to establish a brand-new account.
  • Simply click the relevant link in order for PBCom to assist you in opening an OFW savings account.
  • To submit your application, just click the “Apply Now” button on the menu.
  • Before you hit the “Submit” button, check to make sure that all of the required fields have been filled out.

Frequently Asked Questions

1. How much initial deposit should I make to open a Choice Saver Account (Choice Saver)?

The minimum deposit required for personal and business savings accounts is PHP5,000, while the minimum deposit required for personal checking accounts is PHP10,000, and the minimum deposit required for business checking accounts is PHP15,000.

2. How much balance do I need to maintain to avoid penalty?

The requirement for the initial deposit is also the requirement for the minimum maintaining balance in order to avoid any penalties.

3. Can I get a copy of the Customer Information Form (CIF) without going to the branch?

On the PBCOM website, under “Forms” and “Downloadable Forms,” you can find a fillable version of the CIF that you can save to your computer.

4. How and when can I request for the optional instruments?

The only thing left for you to do is complete the necessary request or application forms and pay the necessary fee, if one is required. This is all that is left for you to do. There is no requirement for tenure or an existing business relationship in order for you to make a request for these at any time and in any PBCOM location; in fact, you are free to do so whenever you want. You can even make a request for these things at the very beginning of the process, or even while you are opening an account!

5.  How long will it take for me to receive my PBCOM EMV Debit Card?

You are able to purchase cards there and then, but they will not have any personalization on them. If, on the other hand, you would like your name to appear on the card, it will take the branch of your choice anywhere from seven to ten working days before you will be able to obtain the card.

Tips on Opening an Account Online:

1. Research about your Account Type

You should become knowledgeable about the many banking options that are available to you before you open your first account at a financial institution. Have you given any consideration to the idea of starting a checking or savings account at a financial institution? It’s possible that you’d have fun sampling a little of everything! Regardless of which of the available accounts you ultimately choose to go with, you should make it a point to inquire about the positives and negatives associated with the others. You are required by law to conduct an investigation into your current financial situation and collect the appropriate documentation.

2. Learn how to keep your account up to date.

There are particular deposit policies that have been implemented at some of the world’s financial institutions. It is possible that you will not have immediate access to the funds while the deposit is being processed, which could take anywhere from a few hours to a few days. If this occurs, you will be notified as soon as the funds are available to you. This holdup could have been caused by a variety of different factors. You really should give some serious thought to conducting some additional research on this topic! A “minimum balance” requirement is yet another kind of restriction that a variety of different financial institutions require their customers to adhere to in order to maintain their accounts with those institutions. If the balance in your account drops below that threshold, you may be subject to a fine or have your ability to access your account through your debit card or an ATM restricted. You may also be subject to both of these consequences. It is possible that you will be subject to both of these repercussions if the balance in your account drops below that threshold.

3. Inquire about the bank’s fees

It is vitally important to keep the following considerations in mind to the greatest extent possible when opening a bank account. There are some financial institutions that incur costs that aren’t immediately apparent but, over time, can balloon into significant amounts. You need to be aware of a number of different things, some of which include fees for maintaining a minimum balance, fees for maintaining a minimum usage or activity, fees for maintaining a minimum balance, fees for maintaining a minimum usage or activity, monthly or annual account fees, and fees for maintaining a minimum usage or activity. Among the other things, you need to be aware of ATM fees, checking fees, overdraft fees, fees for maintaining a minimum balance, fees for maintaining a minimum usage Make sure you are aware of these charges so that you will not be taken aback when you receive your statement and discover that you have been charged for something that you did not anticipate.

4. Don’t settle for the first bank you come across when opening an account.

When it comes time to open your first bank account, you should not feel obligated to choose the first bank that comes to mind. There are numerous banks to choose from. Instead, you should feel free to shop around until you find the financial institution that best meets your needs. It is strongly advised that you investigate a number of financial institutions. You can gather information from each bank in the area by visiting several of them. Examine the financial institution that a member of your family, a close friend, or even a casual acquaintance has used for a long time, whether for business or personal transactions. If the bank determines that you were referred by a client who has been with the institution for a long time, you will almost certainly be given additional benefits.

5. Look for digital platforms

Online banking is one of the technologies that has emerged as one of the most useful options available in this day and age. This is one of the technologies that has emerged as one of the most beneficial alternatives. The vast majority of financial institutions are expected to provide it, but there is still a chance that some will not. Ascertain that obtaining information about this instrument as soon as possible is a top priority for you. The ability to electronically pay bills and transfer money between accounts are just two of the many useful services that come standard with online banking. When dealing with hectic schedules and days, having the option to handle one’s banking online can be extremely beneficial. Even if you cannot visit the bank on a daily basis, you can still take control of your current financial situation and make it work for you.

6. Weigh the Benefits

Inquire about and do an in-depth investigation into the benefits offered by a financial institution, and make this a top priority in your research. One of the many benefits provided by an increasing number of banks and credit unions is the elimination of fees associated with the use of automated teller machines and debit cards, the provision of free checks, and the elimination of paper bills entirely. Free checking and savings accounts are just one of the many benefits provided. Other benefits include the elimination of fees associated with the use of automated teller machines and debit cards. It is in your best interest to educate yourself on the services offered by a particular organisation in its entirety before making a choice regarding the particular financial institution with which you will conduct business.

7. Take charge of your account

If you do not have authority over your bank account, you run the risk of finding yourself in one of the most aggravating and debilitating financial predicaments you can possibly imagine. Take into consideration the fact that the acceptance of increasing levels of responsibility is one of the defining characteristics of young adulthood. If you make an effort to figure out how to balance your chequebook, you will be able to do so if you do the math. Bring your cash register, along with a current debit card (if you use one) and a current credit card, if you plan on making a purchase (if you have one). You should make sure that you are always aware of the amount of money in your account and that you always maintain complete control over the amount of money that is in your account.

Video: How to Open a PBCom Savings Account Using the PBCOMobile App

In this video, we will demonstrate how to open a PBCom OFW Savings Account utilising the PBCOMobile App as well as the required documents that must be presented. Because each step is very straightforward and easy to understand, opening a savings account is something that can be done at any time and from any location in the world.


Opening a PBCom OFW Savings Account today will assist you in reaching your financial objectives if you are an Overseas Filipino Worker who is constantly on the move and needs to put money away for the future. You can satisfy your financial requirements by opening one of the many different kinds of savings accounts that are available. Additional features, such as text alerts and online banking, are also available to you for your convenience.

READ NEXT: Here are the 5 Best Things to Do with Your Pandemic Savings Right Now

Contact Information

Address: PBCOM Tower, 6795 Ayala Avenue corner V.A. Rufino St. 1226 Makati City, Philippines  P.O. Box 3281
Telephone Number: (+632) 8777-2266
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