OFWs now ready to remit funds to the Philippines thru OFBank

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08 February 2019
OFBank has completed the initial phase of Remittance Operation through outsourcing of Remittance System from LANDBANK. In this regard, OFWs may now send/ remit funds from abroad to the Philippines using the OFBank account as destination account or through cash pick-up to OFBank branches. There are three (3) ways to send money to your beneficiary in the Philippines through OFBank. Please choose from:
Option 1:       Via remittance partner of LANDBANK worldwide (please see https://www.landbank.com/remittance-partners)
You may send the money through any remittance partner of LANDBANK (please refer to list) located worldwide using Land Bank Remittance System (LBRS). The beneficiary has to personally pick-up the cash from any OFBank branch by presenting the Transaction Reference Number and valid ID. The remittance may be claimed the same day the remittance was sent.  You may also request the money to be credited to the beneficiary’s account in OFBank instead of cash pick-up subject to a minimum fee of 50.      
Option 2:       Via Foreign Bank using SWIFT code
You may send the money through a Foreign Bank via SWIFT using LANDBANK as intermediary bank for further credit to Overseas Filipino Bank account. OFBank will notify the beneficiary once received from the Foreign Bank, normally 1 to 5 banking days depending on the cut-off time of the Foreign Bank.
Note: Please follow this instruction when sending money via SWIFT Code
Remit to Land Bank of the Philippines (LBP), Manila, Philippines SWIFT CODE TLBPPPHMM for credit to the account of Overseas Filipino Bank (OFBank) with LBP-Intramuros Branch Account No. 0014-0084-46 for further credit to _________ (depositor’s name)____ account no. ________ (depositor’s account no.) with Overseas Filipino Bank - ___ (Main Branch).
Option 3:       Via Transfast 
OFBank has an existing tie-up with Transfast Worldwide Remittance Company which accepts “PADALA” to the Philippines for pick-up to OFBank Main Branch at Liwasang Bonifacio, Manila and to all existing provincial branches of Postbank (now named as OFBank)