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The PSBank Peso OFW ATM Savings account offers many benefits to Overseas Filipinos and their families.

This savings account is a fixed interest-bearing account with no initial deposit requirement. It comes with a personalized and ready-to-use ATM card that you can get on the spot when you open an account. This allows you day and night banking via the PSBank, Metrobank, and BancNet ATMs nationwide, and Mastercard ATMs worldwide.

You can also withdraw cash over-the-counter at any PSBank branch, experience hassle-free settlement of your utility bills, and do cashless shopping at any BancNet-affiliated establishments.

Enroll in PSBank Online and PSBank Mobile.  Experience secure and convenient 24/7 e-banking facilities that offer delightful banking moments.



Minimum Maintaining Balance

PhP1,000

Average Daily Balance to Earn Interest

PhP5,000

Interest Rate

Click here for the prevailing interest rates

Interest Crediting

Monthly

 

  • Day and night banking in any PSBank, Metrobank, BancNet ATMs nationwide and Mastercard ATMs worldwide

  • Cashless shopping at any BancNet-affiliated establishment

  • Hassle-free and on-the-spot issuance of ATM card

  • Enroll in PSBank Online and PSBank Mobile, the Bank's secure and convenient electronic banking facilities, to be able to check your account balances and perform other banking transactions anytime, anywhere
Service fee (falling below maintaining balance)

PhP500 is charged if account falls below the required average daily balance for two consecutive months.
Service fee (accounts closed within 1 month from opening date)

PhP500 is charged if account was closed within one month from opening date

ATM WITHDRAWAL / BALANCE INQUIRY FEES

Subject to diminished interest rates and withholding tax of 7.5% as penalties

ATMs Balance Inquiry Withdrawal

PSBank

FREE

FREE

Metrobank

FREE

PhP7.50

Other Banks' ATMs

NO CHARGE FROM PSBANK

Fee* of the Owner of the ATM shall apply, with option to cancel.

* Fees may vary per ATM Owner

Mastercard (overseas)

US$1 per inquiry

US$3.50 per transaction

 

Withdrawal fee at any PSBank branch
  • up to PhP100,000 = PhP50 withdrawal fee
  • PhP100,001 and above = PhP100 withdrawal fee
Card replacement fee (for lost/stolen/demagnetized card) PhP200 per card 
Request for account balance and transaction history
  • via PSBank branch/PSBank Online/PSBank Mobile
  • PhP100 for the 1st 3 pages, PhP 20 for every succeeding page
  • via ATM – FREE for the last 5 transactions
Inter-bank fund transfer (if source account)
  • via ATM - PhP25
  • via PSBank Mobile and PSBank Online
    • InstaPay - PhP15 per transaction
    • PESONet - PhP50 per transaction

  • via PSBank Mobile QR - PhP15 per transaction

Note: All aforesaid fees and charges will take effect immediately and may be cancelled or modified anytime at the Bank’s sole discretion without any prior notice.

I.  Completely filled-out bank forms:

  1. Customer Information Sheet
  2. Specimen Signature Card
  3. Signing Instructions and Acknowledgement Receipt Form

II.  Valid IDs: At least one (1) Primary ID or two (2) Secondary IDs

  • Primary IDs 
    1. PhilID and various formats of PhilSys Digital ID / e-PhilID
    2. Philippine Passport
    3. Digitized Driver’s License (Professional or Non-Professional) ID
    4. Digitized Postal ID
    5. Professional Regulations Commission (PRC) ID
    6. Digitized Social Security System (SSS) ID
    7. Digitized Unified Multi-Purpose ID (UMID)
    8. Digitized Voter’s ID
    9. Digitized Overseas Workers Welfare Administration (OWWA) or Overseas Filipino Worker (OFW) ID
    10. Government Service Insurance System (GSIS) E-Card
    11. Digitized Pag-ibig Loyalty Card
    12. Digitized Tax Identification Number (TIN) ID or Digital TIN ID Generated Online (eTIN ID)
    13. Digitized Firearms License ID
    14. Integrated Bar of the Philippines (IBP) ID
    15. Digitized Seaman or Seafarer’s Book
    16. Photo-bearing School ID Signed by the Principal or Head of School with Birth Certificate Issued by Philippine Statistics Authority (PSA)

  • Secondary IDs
    1. Senior Citizen ID
    2. Person with Disability (PWD) ID
    3. Non-Digitized Voter’s ID
    4. Non-Digitized Postal ID
    5. National Bureau of Investigation (NBI) Clearance
    6. Barangay Clearance Certificate / ID
    7. Police Clearance Certificate / ID
    8. Company ID Issued by Private Entities Registered or Regulated by Bangko Sentral ng Pilipinas (BSP) / Securities and Exchange Commissions (SEC) / Insurance Commission (IC)
    9. Photo-Bearing and Signature-Bearing Student Driver’s Permit / License with Official Receipt (O.R.)

* For OFWs:  New clients will be asked to declare their employer and country of employment.

* For OFW Beneficiaries:  OFW Beneficiary needs to indicate the name, relationship, contact details, country where OFW remitter works and employer under "Other Sources of Funds/Deposits" portion of the CIS.

 

A cooling-off period of two (2) banking days is granted from the date of account opening. During the cooling-off period, the Account Holder may cancel or terminate the account without penalties, by submitting a written notice to the Bank. The Bank, however, reserves the right to deduct the documentary stamp and other taxes due thereon, if any, and collect reasonable processing, closure / pre-termination, and administrative fees when applicable, to cover the costs incurred during account opening.  The cooling-off period is available for financial consumers who are individuals, or micro and small enterprises as defined in applicable DTI regulations.

For more information:


 

General Provisions on Deposits and Other Products / Services

 

* Deposits are insured by PDIC up to PhP500,000 per depositor.



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