Easiest Bank To Open Account In?

[Jake]

:) i agree with ART that BPI is the best for non locals... may help to state that you need it in order to transfer funds from your home country,

I also want to add that most not all BPI offers ATM deposit, if the bank is closed, you may be able to deposit thru the ATM.IN selected areas. Their is a CASH DEPOSIT machine(teller) that allows deposits(cash) anytime. locations are usually near a major mall. Hope these EXTRA 2 benefits can convince that BPI or BPI FAMILY SAVINGS will be your new bank of choice. :)

I have opened up an account with Wells Fargo, which has direct affiliation with BPI. I did ask the bank manager, a stunning brunette with legs up to (oh never mind) and verified both my military pension and SS retirement checkscan be access easily using the BPI on line services. I did confirm that you must register WF-BPI link while still in theStates and also ask about anti-laundering restrictions for US dollars going overseas. The bank manager politelytold me only if you transact large amounts (like drug cartels), then they will place a red flag and watch your monthlypatterns. No need to worry about that, I told her -- my deposits are minuscule. Speaking of which -- I know Boss Man will probably whack my pee-pee (again) for going way off topic......but I havealso found the easiest bank for nightly deposits has been my local sperm bank.....he, he. Gotcha -- Jake

[ancienrocka]

"I will go to the banks on Monday and report back." Don't go Monday as it's a public holiday and I think the banks will be closed.

[CebuAndy]

oooops another newbie mistake - thanks for the warning, ancienrocka

[Travis]

What is the easiest bank to open account in, with a tourist visa? Do all banks ask for ACR card?

Bank of Commerce on Osmena Circle would be about the only one that I know of that will open an account for a person who does not have utility bills and a lease. HERE is a post I made about it a while back. You are welcome to tell Mayen Lee from the forum sent you if you like. If you have a lease and utility bills then some other banks will open accounts for you but it will be hit and miss. I got one for a friend at the BPI near the capital but he had utility bills and even owned a condo yet was on a tourist visa.

I agree BOC was the easiest until I had a lease & bills

[CebuAndy]

Walked into BPI in Ayala Mall.First asked for ACR card. Said I didnt have it, but I was recommended this Bank from other foreigners living in Cebu.Asked for copy passport and 1 photo (they dont have photo copier)Returned and filled in a few forms, and made my deposit.Get my ATM card after 5 working days.1 hour. :thumbsup:Thanks to all for good advice.

[Art2ro]

Walked into BPI in Ayala Mall.First asked for ACR card. Said I didnt have it, but I was recommended this Bank from other foreigners living in Cebu.Asked for copy passport and 1 photo (they dont have photo copier)Returned and filled in a few forms, and made my deposit.Get my ATM card after 5 working days.1 hour. :thumbsup:Thanks to all for good advice.

Now, my question is, what type of an account did you open? Probably just a plain peso savings account with ATM and internet access. What about a USD account with ATM and internet access? Or even a peso checkbook account with ATM and internet access? The answers why, should be obvious if you have read all of the previous posts on "Banking in the Philippines"! Don't even consider direct depositing your U.S. pensions into your Philippine USD bank account, because they can only give you a passbook type account without ATM or internet access! Keep your pension in your U.S. bank account!

[CebuAndy]

I was told USD saving account with ATM card and internet banking. Will transfer from my bank account back home, to this bank monthly from December, not directly.Seems a double check is in order, will ask again this week when I get the ATM / internet access.Thanks for the warning.

[Dave Hounddriver]

I was told USD saving account with ATM card and internet banking. Will transfer from my bank account back home, to this bank monthly from December, not directly.Seems a double check is in order, will ask again this week when I get the ATM / internet access.Thanks for the warning.

This post has my curiosity going because you previously told us that 'back home' was a Scandinavian country and you were last living in Thailand. I suspect that neither country uses US Dollars so it seems you plan on converting to US dollars and then converting the US dollars to pesos? Hmmm. I don't see the sense in that. You can have a peso account and use one of many services to convert from your home currency. US dollar accounts are great . . for people who have US dollars. The rest of us pay twice when we use them.

[Art2ro]

I was told USD saving account with ATM card and internet banking. Will transfer from my bank account back home, to this bank monthly from December, not directly.Seems a double check is in order, will ask again this week when I get the ATM / internet access.Thanks for the warning.

This post has my curiosity going because you previously told us that 'back home' was a Scandinavian country and you were last living in Thailand. I suspect that neither country uses US Dollars so it seems you plan on converting to US dollars and then converting the US dollars to pesos? Hmmm. I don't see the sense in that. You can have a peso account and use one of many services to convert from your home currency. US dollar accounts are great . . for people who have US dollars. The rest of us pay twice when we use them.

Good catch Dave! CebuAndy, what currency are you receiving and from what country? How do you plan to convert your currency from what country and transfer funds into your Philippine USD bank account, you mentioned that you opened recently? What currency accounts do BPI have besides U.S. dollars? As Dave mentioned, you may end up being charged twice or loose money just converting your home country's currency to U.S. dollars and then into pesos!

[CebuAndy]

Neither country use USD as we all very well know, but banks in my country recommend to transfer USD or Euro, to Asian countries. Why? Scandinavian currencies are not very attractive for Asian countries, since they don't do much trading with us.It's possible to send NOK SEK DKK but exchange rate are so poor that we get better rates when sending USD. So the sense is simply: I get better rate when sending USD from country of origin in scandinavia, than NOK SEK DKK. I don't get the option to send Thai Baht (or Peso) from my country of origin.I convert my home currency to USD when sending out.Bank in Thailand convert it from USD to Thai Baht into my account.Next month I will do my first transfer, and I will send USD from home to Philippines. If you doubt me, I have 7 full passports with Thai stamps and 9 or 10 full Thai bankbooks to show.And if we meet again, I can log into my netbank and you can read for yourself about transfer money to other countries, and what currencies the bank insist to transfer. You should know me well enough to know, I don't talk the talk - I do the walk (and being scandinavian means, I hate liers) :bash: