Filipinos with job offers abroad are advised to take care of their finances before leaving the country. They can arrange ways on how to send their remittances and discuss other money matters with the family they will leave behind.

It is a good thing that there are products and services that make it easier for overseas Filipinos to take care of their remittances and finances. One example is the OFW Cash Card from the Land Bank of the Philippines.

The OFW Cash Card is created in compliance with President's Administrative Order No. 215 that obligate the bank to provide affordable remittance services for OFWs. This service is in partnership with SMART mobile communications.

The LandBank OFW Cash Card

It is an electronic debit card that facilitates cash transactions like balance inquiry and withdrawals via Automated Teller Machines (ATMs). A facility that OFWs can use as funds remittance mode using SMART mobile phone.

Benefit to OFWs

Overseas Filipinos can have an OFW Cash Card without the following requirements:

·         No opening deposit, maintaining balance and dormancy period

·         No Specimen Signature Card (SSC) requirement

However, the money in OFW Cash Card is not treated as deposit account and therefore not covered by Philippine Deposit Insurance (PDIC) and does not accrue interest.

Functionalities

·      One can access the account 24 hours a day, 7 days a week through more than 800 LANDBANK ATMs and 7,500 ATMs of Expressnet, Megalink and Bancnet ATM systems nationwide.

·         Withdraw up to P30,000 a day

·         Balance inquiry and fund transfer using menu-based SMART mobile phone

·         Free SMS notification for every successful transaction

·         Card is valid for two (2) years and subject to reactivation

·         Service initially free

·         Replacement and reacrtivation fee is Php120

Documentary Requirements

Enrollment Form, at least 1 valid ID and Proof of being an OFW or beneficiary.

Where can one apply for a Landbank OFW Cash Card?

One can avail OFW CASH CARD at any LANDBANK Branch nearest you.

Where can one send funds from abroad?

For complete list of remittance partners abroad, please click on the link below.

https://www.landbank.com/subLBP_remit.asp

Have you availed or currently using this OFW product? Let others know your experience by leaving a comment below.

Do you have an OFW product/service or OFW-related event you want to promote? Do leave us a note at editor@ofwguide.com