Yes. There are Philippine banks with branches in Canada. As a Filipino in the country, you are entitled to get a bank account. Even though a Philippine financial institution is not needed in Canada, you can run financial transactions at federal credit unions and a plethora of approved foreign financial institutions.
You could also do this by visiting any provincially or federally policed banking facility that offers this service. The Philippines is among the quickest developing economies in Southeast Asia, providing Canada with substantial opportunities for investment and trade.
Even if you aren’t at the moment employed, barely possess the cash to hold in a bank account right off the bat, or have previously been penniless, you may create a bank account as a foreigner in your country if you present proof of identity and paperwork in person.
It is imperative to know that as a foreigner in Canada, you must investigate the legitimacy of the banks prior to setting up an account.
Top Philippine Banks with Branches in Canada and Their Addresses
Metrobank is the second biggest non– government bank in the Philippines. The bank asserts that its financial stance and cash flows will ensure it traverses the turbulent and recovering times. According to reports, its total CAR is 18.5%, and the Common Equity Tier 1 (CET1) ratio is 17.6%, making it one of the best in the business.
Pooled assets sit at P2.6 trillion as reported in March 2022, making it one of the nation’s dominant and best-capitalized banks. Metropolitan Bank & Trust Co. (Metrobank) was named ‘Best Bank in the Philippines’ at the concluded Euromoney Awards for Excellence 2022, joining the nation’s second-largest bank’s prominent hold and dependability.
Address: 569 St. Clair Ave. West Toronto, Ontario M6C 1A3
Tel: 1 (416) 532-9779 / 1 (416) 532-3223
Fax: 1 (416) 534-4040
Address: 4292 Fraser St. Vancouver, British Columbia V5V 4G2
Tel. No: 1 (604) 874 – 3373
Fax: 1 (604) 874-3374
Philippine National Bank
This is among the nation’s top banks that are offering various financial services. PNB Remittance Company is renowned as the first bank division to conduct business in Canada. They are the Philippine national bank’s non-bank division, providing different services to the Filipino-Canadian community.
Customers can take a trip to any office or go to the agent site and select from different options how their finances will be delivered to their intended receiver. Fresh remitters must meet the following requirements; present a valid ID and complete the remittance registration form.
Customers could also get their own global Filipino money card. Cash, debit cards, and checks are all allowable forms of payment. Personal checks usually have a clearing period, whereas bank drafts must be verified/validated by the issuing bank.
Address: Unit 104, 3050 Confederation Parkway, Mississauga, ON L5B 3Z6
Tel No: (905) 896-8010
Address: 13521-102 Avenue, Surrey, BC V3T 4X8
Tel No: 604-581-6762
Seafood City Branch
Address: 800 Boyer Blvd. Unit 300 Mississauga, ON L5V 2Y1
Tel No: 905-812-8010
Address: 737 Keewatin St. Unit 7 Winnipeg, MB R2X 3B9
Tel No: 204-697-8860
Email: firstname.lastname@example.org and email@example.com
Address: Unit 101-333 Wilson Avenue Toronto, ON M3H 1T2
Tel No: 416-630-1400
Email: firstname.lastname@example.org and email@example.com
Address: 365 West Broadway Vancouver, BC V5Y 1P8
Tel No: 604-737-4944
Toll-Free No: 1-877-762-1165
Email: firstname.lastname@example.org and email@example.com
Address: 3430 Sheppard Avenue East Scarborough, ON M1T 3K4
Tel No: 416-293-8758
Certainly, there are Philippine banks with branches in Canada. However, you must not let the scarcity of a Philippine bank account prevent you from saving money or owning a bank account. While living abroad, you can still save (via Canadian banks) and also invest (via Philippine online discount brokerage).
Owing to the fast-growing number of Filipinos living overseas, the BSP and financial institutions in the Philippines need to provide more suitable online banking and financial education.