Overseas Filipino Bank (OFBank) Savings Account for OFWs

The Overseas Filipino Bank (OFBank) is the first government-owned digital bank that is mandated to provide financial services that meet the needs and requirements of overseas Filipino workers

Formerly known as the Philippine Postal Savings Bank, Incorporated, the OFBank is a wholly-owned subsidiary of the Land bank of the Philippines (LandBank) and was created in pursuant to Executive Order No. 44 duly signed by President Rodrigo Duterte in September of 2017. Since then, it has positioned itself to be the go-to bank that is dedicated to overseas Filipino workers through their mandated services for them as well as their families.

Also Read: Department of Migrant Workers (DMW)

Since OFBank is also the country’s first government-owned digital bank, it also made a milestone in using state-of-the-art artificial intelligence in facilitating an electronic know-your-customer (e-KYC) process in its online account creation system through the Digital Onboarding System with Artificial Intelligence (DOBS-AI). The DOBS-AI can be accessed through the official OFBank online app which can be downloaded via Google Play Store for Android devices, or via App Store for iOS devices.

As of May 31, 2021, the OFBank has onboarded clients from over 113 countries and territories, including the top 10 destinations for OFWs: Saudi Arabia, United Arab Emirates, Singapore, Hong Kong, Qatar, Kuwait, Taiwan, Italy, Bahrain, and Malaysia. Its head office is located in Liwasang Bonifacio in Manila.

overseas filipino bank - ofbank for ofws

What is the OFBank?

The Overseas Filipino Bank is a Philippine bank dedicated to Filipino migrant workers. It is intended to help workers send money home, save for their retirement, and access other financial services.

The OFBank is a subsidiary of the Land Bank of the Philippines (LandBank). It was created in September 2017 by Executive Order No. 44 signed by Philippine President Rodrigo Duterte.

In May 2021, the OFBank had onboarded clients from over 113 countries and territories. The top 10 destinations for OFWs were: Saudi Arabia, United Arab Emirates, Singapore, Hong Kong, Qatar, Kuwait, Taiwan, Italy, Bahrain, and Malaysia.

Services Offered

As of this moment, OFBank offers the following services:

  • Peso ATM savings
  • Time deposit
  • Checking accounts
  • Investment products (Unit Investment Trust Fund, OFBank shares, etc.)
  • Business or home loans
  • Payment services (utilities, loans, SSS/PhilHealth dues, OWWA membership, etc.)
  • Remittance services
of bank is the first branchless bank in the philippines
OF bank is the first branchless bank in the Philippines

List of Features of the OF Bank Account

The OFBank offers a wide range of products and services that are designed to meet the specific needs of OFWs. These include:

  • A remittance account that allows OFWs to receive money from their employers directly into their account, with no need for a third-party service;
  • An e-wallet that can be used to make online purchases, pay bills, or send money to other OFW accounts;
  • A debit card that can be used to withdraw cash from ATMs or make point-of-sale purchases;
  • An online account that can be used to manage OFW finances, with features such as balance transfers, bill payments, and fund transfers;- A mobile app that allows OFWs to access their account anywhere, anytime;
  • A loyalty program that rewards OFWs for using the OFBank products and services.

3 Types of OF Savings Account

There are 3 types of OFW bank account for savings that you can open. These include:

  • OF Bank Visa Debit Card for Overseas Filipinos (OF) and Overseas Filipino Workers (OFW)
  • OFBank Visa Debit Beneficiary Card for OFW Beneficiaries
  • OFBank Regular Debit Card for OF or OFW Beneficiaries below 18 years old but at least 7 years of age
types of ofbank accounts for ofws
3 types of bank card accounts from OF Bank


To be able to open an account at OFBank, OFWs or their qualified dependents will have to complete the following requirements:

For OFWs:

  • Duly accomplished application form, accessible at www.ofbank.com.ph
  • Passport
  • UMID (SSS, PhilHealth, etc.)
  • PRC ID

For OFW dependents:

  • Duly accomplished application form, accessible at www.ofbank.com.ph
  • Two (2) valid government-issued IDs, one of which must be of the OFW:
  • Company ID
  • Driver’s license
  • Passport
  • Postal ID
  • PRC ID
  • School ID
  • Senior citizen ID
  • UMID
  • Voter’s ID

Do note that the details provided in your application form must be supplemented by the identification you will present.

How to Open an Overseas Filipino Bank Account via OFBank Mobile App

As the operations of OFBank are completely digital, applicants with complete requirements may continue opening an account by downloading the official OFBank mobile app on Google Play Store or App Store and registering for an account. Then, follow these steps upon successful registration to open an account: 

  1. Login to the mobile app by entering your username and password. Once the welcome page appears. click “Continue”.
  2. Select the appropriate description (OFW, Overseas Filipino, or beneficiary) for your account.
  3. Read and understand the Terms and Conditions, then click “Continue”.
  4. Fill out the Profile section with your information.
  5. Input a one-time PIN, then click “Submit” to authenticate your mobile number. Follow the same procedure to authenticate your email address.
  6. Create or modify your User Profile and Password.
  7. Select and answer a security question, then click “Next”.
  8. Enter the necessary information for your account, such as financial and account purpose information.
  9. Take a neat selfie photo and upload a photo of your ID.
  10. Review and verify all entered information, then click “Confirm”.
  11. Wait for a confirmation email to verify your successful account application. Once confirmed, you may log in to the OFBank mobile app with your credentials and access the features of your account. 

Why should you apply for an OFBank account?

As the OFBank specifically caters to OFWs and their family members through a digital-only service, you are assured of a prioritized, convenient and safe transaction that will greatly benefit you and your loved ones in the country. With OFBank, transactions are also secure and free of excessive charges as well as fraudulent banking systems. 

As a full subsidiary of Land Bank, opening an OFBank account allows you to enjoy the following benefits:

  • Transfer funds to either bank accounts, free of charge;
  • Transfer funds to other banks via InstaPay or PesoNet;
  • Pay bills via online payment channels, and carry out cashless payments at Point-of-Sale (POS) terminals;
  • Withdraw money from local and international ATMs.

You may also choose among the three types of accounts serviced by OFBank:

  • OFBank Visa Debit Card for OFWs and Overseas Filipinos
  • OFBank Visa Debit Card for Beneficiaries
  • OFBank Regular Debit Card for Beneficiaries within 7 to 18 years old

These accounts are interest-bearing peso savings accounts that require no minimum initial deposit, monthly average daily balance (ADB), or account dormancy fees, although account holders will have to maintain a daily balance of PhP 500 or about USD 10 to earn interest.

Moreover, OFBank proceeds to collaborate with other Philippine banks, such as Banco de Oro (BDO), Philippine National Bank (PNB), and MetroBank in order for Filipinos here and abroad to make transactions with their international branches. However, it needs to be highlighted that while some of these benefits are not for free, OFBank is yet to finish its completion, so OFWs and their dependents can expect less costly transactions that eventually may be free in the future.

Video: Landbank’s Overseas Filipino Savings Account

Check out this video clip as uploaded by Landbank on how you can process and open this digital bank account online. You can complete the application in less than 5 minutes.

Frequently Asked Questions

Here are some frequently asked questions about the OFW Bank.

1. What is OFBank?

The Overseas Filipino Bank or OFBank is the first government-owned exclusively digital bank that caters specifically to OFWs or overseas Filipinos and their beneficiaries in the Philippines. It is a subsidiary of Land Bank of the Philippines, and is dedicated to providing quality, reliable and secure financial products and services that meet the needs and requirements of Filipinos in the country and abroad, including the delivery of efficient money remittance systems.

2. What types of accounts does OFBank offer?

OFBank currently offers Visa Debit accounts for either OFWs and overseas Filipinos or their beneficiaries, as well as Regular Debit accounts for beneficiaries no younger than 7 years old but no older than 18 years old.

3. Who are eligible to open an OFBank account?

All overseas Filipinos and OFWs and their qualified dependents in the country may apply for an OFBank account either online or through their head office. However, due to the ongoing developments made by the bank as well as the surge of COVID-19 cases in Metro Manila, applicants will have to open an OFBank account online.

4. How can I open an OFBank account?

To open a bank account at OFBank, download the OFBank mobile app via Google Play Store or App Store, then register for an online account. Upon successful registration, follow the in-app guide to registering for a bank account through the OFBank Digital Onboarding System or DOBS-AI.

5. How do I get my OFBank card?

Upon confirmation of your application, you may claim your OFBank card at any LandBank branch through the New Accounts Center. Be sure to be able to present the valid IDs you have used and answer the security questions you have submitted in your application.

6. I cannot log in my OFBank mobile app. What should I do?

If the login page tells you that you are either currently logged in or you did not log out last time, kindly wait for at least 20 minutes and try logging in again. If problems persist, please contact the OFBank Customer Care Hotline at (02) 8405-7000 or toll-free number 1-800-10-405-7000, or email them at customer.care@mail.ofbank.com.ph.

screenshot of OFBank website


In conclusion, the OFBank allows for Filipinos here and abroad a fast, convenient and safe banking service brought to and by the genuine Filipino spirit. Opening an account at OFBank will not only provide us with the convenience of faster transactions with our OFW relatives and family members, but will also help boost our national economy. 

For more information on OFBank and its services, you may visit their official website at www.ofbank.com.ph or download the official OFBank mobile app via Google Play Store or App Store and open an account today.

Contact Information

Website: www.ofbank.com.ph
Customer Care Hotline: (02) 8405-7000 or
Toll-free number: 1-800-10-405-7000,
Email: customer.care@mail.ofbank.com.ph

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