The country’s third largest bank is the first bank to be granted official license to operate a branch inside the POEA office in EDSA, Mandaluyong City. Through branch, OFWs will be provided with banking and debit card services by using their OFW ID cards.
The OFW ID card, issued under Visa Electron, is meant to speed up the entrance and exit procedure for OFWs at local airports and simplify and upgrade the record keeping and retrieval processes of government agencies dealing with OFWs. The OFW ID card serves as a multi-purpose identity card. Membership dues and availment of services from Overseas Workers’ Welfare Administration (OWWA) can be easily tracked and benefit claims can be facilitated using the card. It may also be used as a remittance card and ATM card as well as a debit card at the option of the OFW.
The OFW card will eventually replace the overseas employment certificate and therefore enables the POEA to immediately capture an OFW’s departure details and update records. It is a major breakthrough in the government’s E-Link project, which is geared towards paper-less transactions.
The new card is a joint project of the Department of Labor and Employment, Equitable PCIBank, and Equitable CardNetwork. Aside from Equitable PCI Bank, four other banks have joined the card project.