BPI Savings Account for OFWs: Requirements, fees and how to open

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OFWs need a secure, convenient way to save their hard-earned money and remit funds home to loved ones. There are dedicated OFW accounts and other suitable products from most major banks in the Philippines, including BPI.

This guide looks at the BPI savings accounts which fall under the BPI Pinoy abroad¹ service, including saving and remittance options. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

Table of contents
BPI OFW savings account options Pamana Padala Pamana savings Regular savings #SaveUp US Dollar How to open a BPI Savings Account Get paid from abroad and convert to PHP easier and cheaper with the Wise account

What to consider when choosing a savings account

We’ll look at how to open a BPI savings account for OFW in more detail a little later. First, here are a few things to think about when you choose the right account for your purposes.

• Minimum deposits and maintaining balances: The BPI OFW savings account maintaining balance can be as high as 25 000 PHP, but other account options also exist, which have far lower balance rates.
• Interest rates: If you’re using your account to save, compare the interest rates available. #SaveUp has a slightly higher rate than other PHP OFW savings accounts from BPI.
• Foreign currency options: Check the availability of USD accounts for receiving salaries if you’re paid in dollars - several BPI accounts have a USD version for convenience.
• Easy user access: Check if your account has online and digital banking services, and a debit card if you want to make payments and get cash - some accounts are passbook only, while others have both card and passbook options.
• Ease of opening: To open a BPI savings account for OFW online, you’ll need to already have a BPI account - although some options like the fully digital #SaveUp account can be opened in an app.
• Additional perks and benefits: Different accounts have their own features - for example, Pamana accounts may offer insurance cover for peace of mind when working abroad.

BPI Savings Account options for OFWs

Here’s a quick summary of the basic BPI OFW savings account requirements and features side by side - plus we’ve got more on each account coming right up.

Account	Best for	Initial deposit (PHP)	ADB (PHP)	Key features
Pamana Padala²	Overseas workers remitting payments	500	0	USD or PHP options, low-cost remittances, free life insurance
Pamana savings³	Savers who can open an account in a BPI branch	25,000	25,000	USD or PHP options, free life insurance
Regular savings⁴	Debit card account for savings and spending	3,000	3,000	Open online if you already bank with BPI
#SaveUp⁵	Fully digital account with high interest rates	1	0	Digital account services, debit card, and in-app account management
US Dollar⁶	USD services with flexible card payment and savings features	500 USD	500 USD	Debit card and passbook options, ways to deposit cash, checks, or demand drafts

*Details correct at time of research - 17th October 2025

Pamana Padala

The Pamana Padala account is an OFW account intended for people who need to send money back to loved ones at home. You can remit in the BPI app, with lower fees compared to some other options like cash collection. Accounts also offer free life insurance up to 300 000 PHP, and free accident insurance of 100 000 PHP for 90 days.

Eligibility: Overseas Filipino Remitters, aged 18-55 years old
Initial deposit: 500 PHP
Minimum monthly average daily balance: 0 PHP
Interest rate: 0.0625%
Required daily balance to earn interest: 5,000 PHP
Key features: Available as a USD account as well as PHP

Pamana savings

The Pamana savings account is available in USD and PHP for people who want to save their money effectively when working overseas. This account offers a debit card for easy access to your funds when you need them, and free life insurance worth 3X your account balance.

Eligibility: Customers holding an acceptable ID, open in branch only⁷
Initial deposit: 25,000 PHP
Minimum monthly average daily balance: 25,000 PHP
Interest rate: 0.0625 %
Required daily balance to earn interest: 25,000 PHP
Key features: USD and PHP account options available

Regular savings

The Regular savings account is a card-based account you can use to hold a balance, spend and make cash withdrawals, and pay your bills in the Philippines. If you already have an account with BPI, you can open the Regular savings account online.

Eligibility: Customers holding an acceptable ID
Initial deposit: 3,000 PHP
Minimum monthly average daily balance: 3,000 PHP
Interest rate: 0.0625 %
Required daily balance to earn interest: 5,000 PHP
Key features: Online account opening available for existing clients

#SaveUp

The #SaveUp account is fully digital and can be opened and managed online and in the BPI app. This account has a higher rate of interest compared to other savings accounts, making it a good choice for people looking to maximise their returns.

Eligibility: Customers holding an acceptable ID
Initial deposit: 1 PHP
Minimum monthly average daily balance: 0 PHP
Interest rate: 0.0925 %
Required daily balance to earn interest: 5,000 PHP
Key features: Fully digital account with high-interest opportunity

US Dollar

The BPI US dollar account is offered as both a card and a Passbook account, and lets you deposit USD in various ways while earning a return if you qualify for interest. This account is a flexible option for people earning in USD who may also need to spend with their linked debit card.

Eligibility: Customers holding an acceptable ID
Initial deposit: 500 USD
Minimum monthly average daily balance: 500 USD
Interest rate: 0.05 %
Required daily balance to earn interest: 500 USD
Key features: Debit card and Passbook options, ways to deposit cash, checks, or demand drafts

How to open a BPI Savings Account

The way you open your BPI OFW savings account depends on the specific product you select. In some cases, you can open an account online - but you might already need to be a BPI account holder to do so. This might mean that you have to open your account in person in the Philippines before you go overseas for work. Here’s a summary.

Opening in-branch

Generally, BPI Pamana accounts can only be opened in person in a branch. You’ll need to take along your ID and proof that you’re a Filipino overseas worker if this is required for the account type. Some other accounts must be opened in a branch if you don’t already bank with BPI, in order for your ID document to be checked by a member of staff.

If you need to open your account in a branch, you can go to the branch closest to your home, with your ID document, and have a member of the service team talk you through your application.

Online account opening

For some accounts, there’s an online account opening option. You can open the #SaveUp account and the USD savings account online and in the BPI app in all cases. To open the Regular Savings account online, you must already have another account with BPI.

If you have an account already, you can then log into your online banking service and select the option to open another deposit account. Just pick the account you want to open and follow the onscreen prompts to open your new account.

For online account opening, when you do not already have a BPI account, you’ll be asked to upload images of your ID document as part of the application. This is for verification and security purposes.

Get paid from abroad and convert to PHP easier and cheaper with the Wise account

BPI offers various savings accounts for OFWs, including dedicated and general options. Before selecting one, compare the accounts and review the eligibility conditions.

To get the best of both worlds, why not use a BPI OFW savings account alongside a flexible multi-currency account from Wise.

With Wise, you'll get 8+ local account details including PHP, USD, GBP, AUD, and more. This way, you can receive money directly, in a cheap and convenient manner. All you need to get started is to sign up for a free account, and you'll be able to manage your money with just a few taps of your phone.

After getting your money, you can easily convert it to 40+ currencies, with low fees, and the mid-market rate - also known as the rate you see on Google. This includes exchanging to PHP with a one-time conversion fee from 0.57% that's shown upfront, and no markups or additional fees.

Receive, exchange, and move your funds to your local bank account in PHP in a cheap and convenient manner with Wise.

It’s simple and stress free - and lets you keep on top of your finances no matter what you’re up to.

🚀 Get started with Wise

Frequently asked questions (FAQ)

What is an OFW savings account?

An OFW savings account is an account optimised for use by overseas workers, looking to save money, earn interest, and make payments to loved ones back home.

How much is the minimum balance for a BPI savings account?

The BPI OFW savings account maintaining balance can be as high as 25,000 PHP - but other account options also exist, which have far lower balance rates.

How do I open a bank account if OFW?

The way you open your BPI OFW savings account depends on the specific product you select. In some cases, you can open an account online - but you might already need to be a BPI account holder to do so. If you aren’t a BPI customer, go to a branch to open an account before you travel overseas.

What should I provide as proof that I am an OFW?

The documents accepted by BPI to prove you’re an OFW include:

• Work Contract
• Work Visa / Work Permit
• Overseas employment certificate (from POEA)
• OWWA ID
• Seaman's book
• CFO Certificate
• PDOS Certificate
• Local residence ID

Can I open a BPI savings account without going to the bank?

You can open some BPI accounts digitally. You can open the #SaveUp account and the USD savings account online, and you may be able to open a Regular savings account if you already have another account with BPI.

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Sources used:

1. BPI Pinoy Abroad
2. Pamana Padala
3. Pamana savings
4. Regular savings
5. #SaveUp
6. US Dollar
7. BPI account opening requirement