BDO together with SM Supermalls once again brought a one-of-a-kind Christmas celebration to overseas Filipinos and their families with star-studded Pamaskong Handog events. Now in its 8th year, Pamaskong Handog presents separate events for OFWs and their families in Cebu, Davao, and Pampanga this month, with SM hosting the venues.
Pamaskong Handog is BDO’s way of giving back and recognizing overseas Filipino families for their trust and loyalty as BDO Kabayan Savings account holders. BDO Kabayan Savings is BDO Remit’s flagship service, the heart of the bank’s service to the Overseas Filipinos and their families. Through this service, customers receive remittances in a fast, safe and convenient manner, and at the same time, are entitled to unique and long-term benefits that aim to protect their future such as free life and accident insurance.
This year’s Pamaskong Handog final leg at SM City Telabastagan in San Fernando, Pampanga brought together some of the country’s biggest celebrities and performers featuring love team Xian Lim & Kim Chui, OPM icon Ogie Alcasid, Star Magic talent Dominic Roque, X-Factor Philippines finalist Mark Mabasa, The Voice PH finalist Leah Patricio, Regine Velasquez-impersonator Regina Otic, as well as comedy stars Donita Nose, Ate Gay, and MC & Lassy.
“With many overseas Filipinos coming home during the holiday, we take the season as an opportunity to honor and pay tribute to their hard work and sacrifice to care for their families even if it means being away from them and taking on unique jobs in other countries,” said Genie T. Gloria, senior vice president and head of remittance of BDO Unibank, Inc..
Aside from the celebrity performances, raffle prizes from The SM Store, Kultura, Miniso, Jollibee and Goldilocks were also given away. Overseas Filipino families were likewise treated exclusively by BDO Remit partners such as WorldRemit, MoneyGram, Western Union, and Small World during Pamaskong Handog main event.
Advocating financial literacy
Apart from annually doing the Pamaskong Handog to honor overseas Filipinos (OF) and their families, BDO Unibank through its global remittance service brand—BDO Remit has another advocacy that espouses financial education zeroing on the value of saving and investing.
Gloria said financial education is an invaluable gift to give the OF market and their beneficiaries because there will come a point where these workers abroad will return to their home country and choose to become entrepreneurs.
“Raising their financial knowledge should start at the onset, meaning, we teach them what they can do with their hard-earned money by allocating a portion to savings and looking for investments which can serve their long-term goals,” said Gloria.
BDO Remit visits universities to teach young adults, whose parents may be an OF, to take care of the money remitted to them. It also does financial education activities in various barangays to orient people, particularly the unbanked, about the importance of being a part of the formal banking system.
“Apart from these efforts, we also continue to participate in the pre-departure orientation seminars (PDOS) done by the Overseas Workers Welfare Administration (OWWA), by helping the departing OFs to have a better financial behavior,” noted Gloria.
Since starting the financial education advocacy in 2014, she said BDO Remit has noticed a significant improvement in the saving approach of the OFs as indicated by the growth in their monthly savings.
“They are saving more now and they know their priorities and goals. For us, this improvement is a testament that this advocacy of ours is working well for them,” added Gloria.
BDO Remit currently has two million BDO Kabayan Savings account holders, a product it introduced in 2006 to encourage OFs and their beneficiaries to save and eventually allow them to qualify for other banking products such as loans, as their lives flourish.