PNB OFW Savings Account: Requirements, fees and how to open

If you’re working abroad and remitting money back to loved ones, or building your own savings for future use, you might benefit from a bank account designed to suit the unique needs of overseas workers. Options like the PNB OFW Savings Account¹ can allow you to earn interest on your balance, spend and withdraw with a debit card, and receive or send payments locally and internationally.

This guide covers the PNB OFW Savings Account requirements, features, and fees, so you can see if it meets your needs. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What is the PNB OFW Savings Account?

The PNB OFW Savings Account is intended for Filipinos working abroad, to offer easy ways to receive salary payments, earn interest, cover your daily spending needs, and send money home to loved ones. It can also be opened by beneficiaries in the Philippines receiving payments from an OFW to make the remittance process smoother.

You can open a PNB OFW Savings Account in a PNB branch in the Philippines or overseas, and there’s no PNB OFW Savings Account maintenance balance or minimum opening deposit to pay. This makes it a straightforward choice for anyone looking for a flexible account to receive, hold, and send payments in either PHP or USD.

We’ll cover how to open a PNB OFW Savings Account in detail later, as well as the fees you’ll need to think about before you start to transact.

Looking for more information about US dollar accounts with PNB? Get the full PNB USD account review here.

Key features of the account

So, is the PNB OFW account right for you? Here are some of the key features and benefits of the account to help you decide:

• No required minimum opening deposit or maintaining deposit
• Accounts in PHP or USD available
• Open an account as an OFW or as the beneficiary of payments from an OFW
• No monthly fees or account dormancy fees
• PHP account offers an optional PNB-PAL Mabuhay Miles OFW Savings Debit Mastercard²
• Earn points as you spend with your debit card, with the option to convert your points to Mabuhay Miles
• PHP and USD accounts can both also offer Passbook services
• Send remittances to loved ones conveniently online, by phone, and in person through partner banks and organisations
• Manage your account remotely with PNB Digital Banking
• Minimum balance to earn interest - 10 000 PHP
• Interest rate of 0.10%/0.025% p.a. on qualifying PHP balances (correct at time of writing, 14th October 2025)

PNB OFW Savings Account requirements

The PNB OFW Savings Account requirements depend on whether you’re opening an account as an overseas worker or as the beneficiary of incoming payments from abroad.

The simplest process to open your PNB OFW Savings Account is if you have a PNB Letter of Introduction. In this case, all you need is to take along your PNB Letter of Introduction to a branch with your government-issued photo ID document to open your account.

If you don’t have a PNB Letter of Introduction, you’ll need the following:

To open as an OFW:

• Copy of passport
• Employment Contract (Duly approved and notarized by POEA)
• PDOS Certificate
• Your government-issued photo ID document

To open as the beneficiary of payments from an OFW:

• Copy of passport
• Employment Contract of the OFW sender (duly approved and notarized by POEA)
• Proof of Remittance (for existing receivers of other banks/remittance channels)
• Your government-issued photo ID document

Generally, a letter of introduction can be provided by an existing customer of the bank who has an account in good standing. PNB doesn’t offer details online about which customers may be accepted as introducers, so you may need to double-check with your preferred branch if you intend to follow the introduction process to open your account.

How to open a PNB OFW Savings Account

The process for opening a PNB Savings Account varies depending on your location. While the traditional method requires a full in-branch visit, eligible applicants in certain locations can now begin the process online.

For Filipinos in Hong Kong and Singapore

You can start your account application digitally through the PNB Digital app. This "half-online" method streamlines the process:

1. Start your account application through the PNB Digital app with just a few taps and a valid ID.
2. Visit the nearest PNB overseas branch within 30 days of your application for a quick sKYC (Simplified Know Your Customer) verification.
3. Complete your application with a remittance.

For all other applications (In-branch method)

If you are not in the locations above or prefer to open your account entirely in person, you can follow the traditional process.

1. Check your eligibility for the PNB OFW Savings Account.
2. Get a letter or introduction, if possible - or gather the alternative required documents to open your account.
3. Visit your nearest PNB branch in person with your valid ID documents and other required paperwork.
4. Complete the account opening form and give signature samples.
5. A member of staff will assist you in opening your PNB OFW Savings Account.

You should be able to get your linked debit card on the same day if you choose to have one, and it’ll be activated shortly after receipt.

How to send money with the PNB OFW account

You can send a PNB remittance through various methods, including³:

• Send using the PNB online banking service
• Send by phone, calling the local PNB number wherever you are
• Send in a branch of PNB or a PNB partner based abroad
• Send FAST payments if you’re based in Singapore

The funds can be deposited into your recipient’s PNB OFW account if they have one, or into another bank account in the Philippines. You can also arrange a cash payout instead of a bank deposit, allowing your recipient to get their money over the counter in a PNB branch or through a PNB partner organisation local to them. Once you’ve initiated the payment, you can track it in the PNB online banking system so you know when it’s available to your recipient.

The costs of sending payments vary depending on the type of transfer you’re making, the value and currency of the payment, and other factors. Check all the details before you send money - including the fees and exchange rates available - so you know what to expect, and how much money your recipient will get in the end.

Fees and charges

PNB does not have any ongoing account fees for its PNB OFW Savings Account - but that doesn’t mean the account is completely free to use. There are some potential costs to consider - particularly if you want to use your account for international card spending, and when sending international payments. Card spending in foreign currencies attracts a 3% fee, which can push up your costs considerably, while international remittances have very varied fees depending on the transfer type.

Read through the full account terms and fee schedule before you sign up, to make sure there are no surprises. Here are some costs to watch out for:

*Details correct at time of research - 14th October 2025

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