To survive as an OFW is hard, the pandemic made it even harder.
For Andrea, who is currently based in the UAE as a customer service professional, she and her husband have been spared from the waves of layoffs, but their workload has doubled or even tripled.
“One of us had to take a break. We haven’t been able to focus on our personal life,” she said.
After careful decision-making, Andrea chose to let her husband take the reins for now. But as a result, she had to stop sending financial support to her family back home since she resigned.
As these times remain uncertain, every cent counts. As Andrea’s example illustrates, there are a lot of factors to consider when it comes to taking care of yourself and your finances abroad. On top of keeping yourself healthy (physically and mentally) overseas, you could also be dealing with erratic costs of living, having a safe residence, and, most importantly, sustaining your support for your loved ones back in the Philippines.
These are reasons why, more than ever, wise financial decisions are a must to ensure that all of your hard work goes to where it should be. Choosing a good remittance and banking partner is a solid first step to achieving that.
Plan ahead with BPI Pinoy Abroad
If you’re looking for one, consider BPI Pinoy Abroad, a complete financial program with solutions that can cater to every stage of your overseas journey. Two of its game-changing products are specially designed savings accounts – Pamana Padala for OFWs and Padala Moneyger for relatives in the Philippines who receive remittances.
Why? Here are some compelling reasons:
Pamana Padala for you
Free life and accident insurance
Opening a Pamana Padala account automatically qualifies you for a free personal accident insurance for 90 days with coverage worth P100,000. On top of that, you will have free life insurance coverage of up to P300,000 or $6,000 as soon as there are four remittances to the Pamana Padala account within a 12-month period. Life is unpredictable, and it helps to prepare yourself financially in any case.
Padala Moneyger for the family
No maintaining balance
Your family won’t be able to tell when they will need money for emergencies, so BPI Pinoy Abroad relieves them of the burden of maintaining a certain amount on their Padala Moneyger account. As long as they receive at least four remittances every year, they won’t have to scrimp on using the money that’s intended for them.
If your loved ones can meet the average daily balance (ADB) of P5,000, however, your account will earn a yearly interest of 0.125%.
No withdrawal fees
With a Padala Moneyger account, your loved ones can simply get the amount they need whenever they need to because there are no withdrawal fees to worry about.
Remit and receive via BPI Mobile app
Accessibility is one of BPI’s key features. This extends to both Pamana Padala and Padala Moneyger, which also utilize the 24/7 capabilities of the BPI Mobile app. Like local BPI users, you will be able to enjoy the convenience of doing real-time yet secure transactions online. Track and manage your savings wherever you are. Meanwhile, your family doesn’t have to go out anymore to receive their remittance. All it takes are a few clicks.
The pandemic still has no clear end in sight, but you can take advantage of this “down time” to rethink your finances and start making smart choices. And by tapping the services of a dependable partner such as BPI Pinoy Abroad, you are increasing your hard-earned money’s value through much-needed benefits such as free insurance and wise money management.
The less you worry about unnecessary remittance hassles, the more you can reward yourself and your loved ones a pamana [inheritance] for the future.
For more information on BPI Pinoy Abroad and its offerings, please visit their website. – Rappler.com