Atm's

[earthdome]

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?

I arrived with enough USD $100 bills to pay for getting established, the first month expenses and seed my USD account that I opened so I would have access to the money almost immediately. Then I wrote my first check deposit when I opened the account so 30 days later I could use that money.

I write a check from my US credit union and deposit it in the USD account. It takes 30 days before I can start withdrawing money from the deposit. Though when I checked my credit union account line it showed that the check cleared the next day. Someone else mentioned the 30 days may be related to US international financial transaction restrictions.

Basically just stay one month ahead with check deposits. Then I have my US credit cards to use if needed. Capital One being the preferred card since it has the most favorable exchange rates with no additional fees for international transactions.

[OnMyWay]

The dollar check into a dollar account, by all accounts, is the best way to transfer money when you have the 30 days, and I will be using it soon. However it is nice to know that with USAA and Fidelity we can have very competitive ATM transactions, when needed. Most of the banks kill you on the ATMs!