BDO Unibank Brings Full-Service Banking to Siargao Island
The world-renowned Cloud 9 surfing waves in General Luna, Siargao Islands, have long drawn thrill-seekers to this paradise. With its emerald-green lagoons, white-sand beaches, natural rock pools, and laid-back atmosphere, Siargao is celebrated as the Surfing Capital of the Philippines and was named the best island in Asia by Condé Nast Traveler in 2021. This tear-drop shaped island in Surigao del Norte, home to around 150,000 inhabitants, thrives on a local economy fueled by surfing, agriculture, fisheries, and infrastructure development.
Siargao's Tourism Boom and Economic Growth
Primarily driven by eco-tourism, Siargao has experienced a remarkable rebound from the pandemic. Tourist arrivals surged from 125,000 in 2022 to 529,000 in 2023, with tourism revenues reaching P3.8 billion. According to the latest Department of Tourism records, over 242,000 domestic and international tourists visited the island in 2025 for sporting events and holiday perks. This growth underscores the island's appeal as a premier destination in the Philippines.
Modern Banking Arrives in Paradise
Now, Siargao's vibrant rhythm gains a new beat with the opening of a BDO Unibank branch at the Siargao Town Center. This addition complements the two existing BDO Network Bank branches and 30 Cash Agad partners in far-flung barangays, ensuring that even those outside the main tourism zone can access cash and basic financial services. The new branch offers a full suite of banking products, designed to meet the needs of business owners, locals, and tourists alike.
With four pre-branch opening ATMs already serving the island, the expansion includes more ATMs and a Universal Teller Machine (UTM), providing the widest and most reliable self-service access Siargao has ever seen. This move highlights a strong commitment to financial inclusion, bringing modern banking to island life.
Comprehensive Services for All
Residents can now open savings and investment accounts, secure personal or auto loans, send and receive money from foreign banks, and access micro-insurance or remittance services without leaving the island. For tourists, who often arrive with mixed currencies and limited cash, the branch offers reliable foreign exchange services and easy ATM access, catering to visitors from the U.S., Europe, Australia, and Asia.
Entrepreneurs benefit from convenient salary payouts, cash management services, and opportunities to build financial records for future credit. From resorts and surf schools to restaurants and tour operators, many businesses face fluctuating demand and seasonal cashflow. BDO is onboarding them as merchants, enabling card and QR payments, offering business deposit solutions, and providing flexible financing for expansion or daily working capital.
Empowering Local Enterprises and Communities
For many small and medium-sized enterprises (SMEs), this marks the first time such comprehensive support is available on the island. BDO's arrival creates a financial services hub that supports every part of Siargao's economy: local enterprises, visitors, residents, and workers. This integration into the island's evolving landscape ensures that easy, simple, and secure banking is always within reach.
Vince Lampert's Journey and Partnership with BDO
Vince Lampert, Executive Director of Nay Palad Hideaway, first set foot on Siargao in 2001, drawn by its raw, spectacular beauty. A decade later, he helped develop a luxury resort, creating a barefoot sanctuary focused on relaxation and harmony with nature. His business ventures have long relied on BDO Unibank, a partnership spanning nearly 25 years.
When the resort began operations in 2012, BDO's robust infrastructure proved crucial for handling international payments, currency exchange, point-of-sale systems, and payroll services. After settling full-time in Siargao in 2019, Lampert faced challenges due to the absence of a full-service bank branch, requiring transactions to be routed through Cebu or Manila.
The devastation caused by Typhoon Odette in December 2021 tested the island's resilience. Lampert's decision to rebuild was driven by commitment to his team and Siargao. During recovery, access to liquidity and efficient fund transfers, supported by BDO, enabled salary payments and resource management, facilitating reconstruction.
A Watershed Moment for Sustainable Development
Today, Nay Palad Hideaway stands strong, and Siargao's economy is thriving. Lampert describes the opening of BDO's first full-service branch as a watershed moment for the island's development. It brings deposits, loans, payroll solutions, foreign exchange, and remittances within easy reach, supported by the existing BDO Network Bank branches and Cash Agad partners.
For visionaries like Lampert, this means more time to focus on creating experiences that celebrate Siargao's beauty. For the island, it signals a future where development remains sustainable, inclusive, and rooted in the community, ensuring that paradise continues to flourish with enhanced financial access.
