11 February 2019
OFBank is now offering a US$ savings deposit to OFWs and their beneficiaries, as well as other private individuals and institutional clients. The US$ savings account is an interest bearing dollar-account which requires presentation of a passbook for deposit and withdrawal transactions. OFWs abroad can send/ remit in dollars for credit to the Dollar Savings Account maintained at OFBank through “remittance” to various LANDBANK remittance partners abroad (https://www.landbank.com/remittance-partnersSaid product is now available at the OFBank Head Office in Manila.
With a minimum initial deposit of $100 for an individual depositor and $1,000 for institutional clients, it is very easy to open an US$ dollar account at OFBank. You just have to present and submit the basic requirements to open an account. A passbook will be given upon opening an account to track your deposits and interest earnings.