The digital-only Overseas Filipino Bank aims to ease fund transfers for Filipinos working abroad and will soon offer secure financial products and services.
There are 3 types of accounts: the OFBank Visa Debit Card for OFWs, the OFBank Visa Debit Card for beneficiaries, and the OFBank Debit Card for beneficiaries below 18 years old.
These are interest-bearing peso savings accounts with no minimum initial deposit and monthly average daily balance, as well as dormancy fee.The OFBank Visa Debit Card allows cardholders, specifically the beneficiaries of OFs and OFWs, to receive secure and convenient real-time fund transfers using Visa Direct, Visa's real time payment solution through the 16-digit card number.
Interbank fund transfers are subject to a service fee of P25 per transaction via InstaPay and P15 per transaction via PesoNet.One can claim the card at any Landbank branch. The ID presented online must be shown.OFBank will soon launch its own loan offering called the Opportunity for Financial Wellness Lending Program.
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