Atm's

[kaku]

Fidelity Investments also offers free ATM withdrawals. The catch is they will charge a currency translation fee. I'm thinking it would be better and cheaper to just open up a dollar account at a Philippines bank and then setup an automatic monthly cash transfer/bill pay into the Philippine dollar account (or just write a check). This would allow me to withdraw dollars and take them to the money changer of my choice.

Thoughts?

[Jollygoodfellow]

Fidelity Investments also offers free ATM withdrawals. The catch is they will charge a currency translation fee. I'm thinking it would be better and cheaper to just open up a dollar account at a Philippines bank and then setup an automatic monthly cash transfer/bill pay into the Philippine dollar account (or just write a check). This would allow me to withdraw dollars and take them to the money changer of my choice.

Thoughts?

I don't think there are many places that wont charge a currency exchange fee , (cant think of the term I'm looking for) but for what its worth many just write a check. Cheque if Australian.

[OnMyWay]

Fidelity Investments also offers free ATM withdrawals. The catch is they will charge a currency translation fee. I'm thinking it would be better and cheaper to just open up a dollar account at a Philippines bank and then setup an automatic monthly cash transfer/bill pay into the Philippine dollar account (or just write a check). This would allow me to withdraw dollars and take them to the money changer of my choice.

Thoughts?

I don't think there are many places that wont charge a currency exchange fee , (cant think of the term I'm looking for) but for what its worth many just write a check. Cheque if Australian.

I just happened to be looking at Fidelity Cash Management services this morning and it seems like a good deal. I'm thinking about consolidating all of my accounts there, as I have my retirement funds there. Basically, checking, ATM and bill pay is all free, and you can have a 2% cash back reward AMEX card if you want it with no annual fee. They reimburse all ATM fees to your account, but for a foreign ATM transaction, there is a 1% fee, which seems very reasonable compared to others. I will avoid ATM withdrawals anyway. They also have some really nice features for managing your balances to avoid any overdrafts and maximize your return on your cash deposits.

[Higg-num]

I'll stick with my plan for now because my " D " day is near but I'll look into a savings act. through Paul's contacts. Thanks guys.

[Call me bubba]

Unfortunately, most will charge you a currency translation fee (dollars to pesos). This can be 3% or more. You should verify this fee prior to comitting to a bank.

last sat I took out 20.000 and got the rate of 41.14( 486.xx) when the w/d is finally posted i will be charged 1% or $4.86= 490.xx

i will update on next banking business day. exact amount and my past w/d

[OnMyWay]

Unfortunately, most will charge you a currency translation fee (dollars to pesos). This can be 3% or more. You should verify this fee prior to comitting to a bank.

last sat I took out 20.000 and got the rate of 41.14( 486.xx) when the w/d is finally posted i will be charged 1% or $4.86= 490.xx

i will update on next banking business day. exact amount and my past w/d

That was USAA? I just did my first Fidelity ATM for 10,000 and I am still waiting to get the transaction details. I hope the x-rate is that high! Retail money changers are 40.75 to 40.85 in Subic last week.

[earthdome]

Unfortunately, most will charge you a currency translation fee (dollars to pesos). This can be 3% or more. You should verify this fee prior to comitting to a bank.

last sat I took out 20.000 and got the rate of 41.14( 486.xx) when the w/d is finally posted i will be charged 1% or $4.86= 490.xx

i will update on next banking business day. exact amount and my past w/d

That was USAA? I just did my first Fidelity ATM for 10,000 and I am still waiting to get the transaction details. I hope the x-rate is that high! Retail money changers are 40.75 to 40.85 in Subic last week.

I now transfer money online from my BPI USD account to my BPI peso account. Last week I got a rate of 40.89. Then I can withdraw from the peso account using BPI ATM's for no fees. If I use the ATM of another Philippines bank there is a 10 peso fee.

[OnMyWay]

last sat I took out 20.000 and got the rate of 41.14( 486.xx) when the w/d is finally posted i will be charged 1% or $4.86= 490.xx i will update on next banking business day. exact amount and my past w/d That was USAA? I just did my first Fidelity ATM for 10,000 and I am still waiting to get the transaction details. I hope the x-rate is that high! Retail money changers are 40.75 to 40.85 in Subic last week.

I finally got the details of my first Fidelity p 10,000 atm transaction. Fidelity refunded the foreign atm fee of $4.87. They charge a 1% fee. The initial exchange rate was 41.1049 and after the 1% my net exchange rate was 40.70.

I'm very happy with this! :thumbsup:

[Call me bubba]

last sat I took out 20.000 and got the rate of 41.14( 486.xx) when the w/d is finally posted i will be charged 1% or $4.86= 490.xx i will update on next banking business day. exact amount and my past w/d That was USAA? I just did my first Fidelity ATM for 10,000 and I am still waiting to get the transaction details. I hope the x-rate is that high! Retail money changers are 40.75 to 40.85 in Subic last week.

I finally got the details of my first Fidelity p 10,000 atm transaction. Fidelity refunded the foreign atm fee of $4.87. They charge a 1% fee. The initial exchange rate was 41.1049 and after the 1% my net exchange rate was 40.70.

I'm very happy with this! :thumbsup:

I checked my transaction, I was charged 490.00 for 20.000,(23th dec)

the 1st was 486.xx then when it was posted 490.00 (26thdec)

a rate of 40.73 (41.14) not bad considering that the rate was between 40.65-.75 that day

[GregZ]

I now transfer money online from my BPI USD account to my BPI peso account. Last week I got a rate of 40.89. Then I can withdraw from the peso account using BPI ATM's for no fees. If I use the ATM of another Philippines bank there is a 10 peso fee.

If you don't mind my asking, how do you get the balance into the BPI USD account? No cost way?