Any Us Banks Here In Philippines

[nor cal mike]

Great timing Bossman, I so enjoy being a part of this forum and all

its GREAT MEMBERS and want to do my small part.

A BIG thanks to you and to all the staff and members for a job well

done and for all the fun and informative time I have spent here.

[Dr. Cockroach]

Actually, I never thought there was a subscription? It's a free country isn't it? :nudie:

But then, I admit. I need to be slapped to notice. I only see what I want to see. Too much of a tunnel vision person!

However, I know now how certain people get these lovely medals on the left panel! I always wondered how!? Don't bash me if you see one next under my name :bash:

[Tom in Texas]

For HSBC, I would want to know for sure what account you have to keep the 100k in

HSBC, CITI, and a few of the other high dollar ego accounts allow you to use a number of methods to meet the minimum amount requirement.

For example... you can have a home mortgage with them for more than the minimum amount... or business acount with an average collected balance in excess of the minimum amount... or an escrow or trust account (often not even your money) held in their institution... or an investment account at their institution... etc.

So, if you need the services connected to these high dollar minimum accounts... there is often a way to open one other than having a few million dollars in lose cash laying around.

[Dr. Cockroach]

For HSBC, I would want to know for sure what account you have to keep the 100k in

HSBC, CITI, and a few of the other high dollar ego accounts allow you to use a number of methods to meet the minimum amount requirement.

For example... you can have a home mortgage with them for more than the minimum amount... or business acount with an average collected balance in excess of the minimum amount... or an escrow or trust account (often not even your money) held in their institution... or an investment account at their institution... etc.

So, if you need the services connected to these high dollar minimum accounts... there is often a way to open one other than having a few million dollars in lose cash laying around.

Very right Tom!

Personally, I tend to shy away from anything labeled as 'debt'. Mortgages, loans, etc. Banks just love to have you fall into one of these. Similar to credit cards.

Also, one of the features of HSBC that I have discovered and just used is, you can open an account in the country you'd be visiting before going to it. I just tried it with Cebu HSBC and they are going to prepare the docs for it when I go.

CitiBank wise, it looks iffy but I want to try them and see. If it doesn't work, I'd just close them.

[OnMyWay]

For HSBC, I would want to know for sure what account you have to keep the 100k in

HSBC, CITI, and a few of the other high dollar ego accounts allow you to use a number of methods to meet the minimum amount requirement.

For example... you can have a home mortgage with them for more than the minimum amount... or business acount with an average collected balance in excess of the minimum amount... or an escrow or trust account (often not even your money) held in their institution... or an investment account at their institution... etc.

So, if you need the services connected to these high dollar minimum accounts... there is often a way to open one other than having a few million dollars in lose cash laying around.

So, it might not be a bad deal if you could have an investment account, but if they charge really high fees for investment transactions then that might eat up the benefit of the account quickly.

Actually I worked with the HSBC Premier team on a project a while back. Many of the premier customers are business travelers or wealthy travelers who are on the road all the time and need to be able to deal with their bank from anywhere in the world. It probably works well for them but I am not sure it is the best fit for a retiree who is more stationary.

[stevewool]

so what do you do if you dont have hundreds of thousands in the banks, i have often thought do i still carry on using my own bank here in england, NATWEST, i will still have money paid into that account so just use the atm and withdraw once a week or month, ok when the card needs updating that will be tricky but could always work round that, i shall keep a address in england for incoming post so thats one way, does anyone have any surgestions, plus when using banks in the phils, the queues, whats that about

[luke]

so what do you do if you dont have hundreds of thousands in the banks, i have often thought do i still carry on using my own bank here in england, NATWEST, i will still have money paid into that account so just use the atm and withdraw once a week or month, ok when the card needs updating that will be tricky but could always work round that, i shall keep a address in england for incoming post so thats one way, does anyone have any surgestions, plus when using banks in the phils, the queues, whats that about

In my opinion, you should keep your current situation (bank and address in UK) for now. An account in PH could be used to pay your bills (online banking) and transfer larger amounts from UK to PH. Some remittance services allow you to transfer through your UK bank account to a PH bank account (not direct bank-to-bank). Google for more info on remittance companies and services what best suits you:

https://www.google.com.ph/search?q=money+remittance+from+UK+to+philippines&aq=f&oq=money+remittance+from+UK+to+philippines&sugexp=chrome,mod=19&sourceid=chrome&ie=UTF-8

LCC, XOOM, WORLD REMIT and many more. It take some research to find what fits your needs and cost.

[Call me bubba]

Citbank also has a branch in both, Manila and Cebu.

ATMs seems to be free.

as of late October (bewteen 15-21) CITIBANK NOW charges a 200p atm fee,

for now the only bank not having one is HSBC.

am I cheap, No I just try to save a few pesos and HSBC allows up to 20k withdrawal

anyway my bank(USAA) refunds some of my ATM fees

[Jollygoodfellow]

Great timing Bossman, I so enjoy being a part of this forum and all its GREAT MEMBERS and want to do my small part. A BIG thanks to you and to all the staff and members for a job well done and for all the fun and informative time I have spent here.

Got to laugh, my post was meant to be a bit of tongue in cheek but certainly do appreciate you subscription payment and I agree the team and members are a huge asset and even if I was not the owner of this forum I am sure that I would still believe it is the best well run forum regarding the Philippines. :)

Actually, I never thought there was a subscription? It's a free country isn't it?

Certainly is but with anything free someone is paying for it. Thank you too for your subscription, much appreciated. :thumbsup:

Anyway I thank everyone over the past 4 or so years for their help in keeping this forum growing. There are many things that cost to bring this to you and right at this moment there are 4 new features being worked on behind the scenes and 3 of them cost us to bring to you but will be free to use and available to all thanks to the kind subscriptions and donations given by the community members.

Hopefully I wont be banned for hijacking this thread. :) :999:

[Dr. Cockroach]

Great timing Bossman, I so enjoy being a part of this forum and all its GREAT MEMBERS and want to do my small part. A BIG thanks to you and to all the staff and members for a job well done and for all the fun and informative time I have spent here.

Got to laugh, my post was meant to be a bit of tongue in cheek but certainly do appreciate you subscription payment and I agree the team and members are a huge asset and even if I was not the owner of this forum I am sure that I would still believe it is the best well run forum regarding the Philippines. :)

Actually, I never thought there was a subscription? It's a free country isn't it?

Certainly is but with anything free someone is paying for it. Thank you too for your subscription, much appreciated. :thumbsup:

Anyway I thank everyone over the past 4 or so years for their help in keeping this forum growing. There are many things that cost to bring this to you and right at this moment there are 4 new features being worked on behind the scenes and 3 of them cost us to bring to you but will be free to use and available to all thanks to the kind subscriptions and donations given by the community members.

Hopefully I wont be banned for hijacking this thread. :) :999:

In 1994, I had a website that I created, administered, wrote it and did everything on it. At one time, it had 160,000 hits in one day! I had a lot of people offering me their 'help'. But I kept refusing coz I could not guarantee non bias on a very controversial site! I couldn't afford any mistakes.

So, I think I have a good idea of what JGF goes through!

Hence my subscription.

Beside, I benefited from the info, even financially, and the members are great. Except for some gas coming from you know who? :hystery: