Best Australian/filipino Banks?

[Jollygoodfellow]

JolleyGoodFellow: Anybody always need 100K :) -- Mind you, I didn't understand the comment nor the link? It takes me to some ANZ branch map?

OK OK ... so I am slow on the uptake!

However, this opened a new Pandora box for me. Which bank is best at doing what I (may be you) need?

I need everything to be free but mainly, money transfers, ATM, in Pesos, USD and AUD. Which bank does it best with the least headache?

Anybody has any experience with CitiBank? They seem to have it all?

https://online.citib....do?ID=Citigold

My only point was that there is one branch there in the Philippines. As for the 100k; your right there :)

[Dr. Cockroach]

OK folks... I did some research on CitiBank and here it goes...

1- They have a branch in Cebu (Ayala) and Manila (Makati) plus many other countries

2- Each branch, even though it's a CitiBank, is kind of separate not like HSBC. However, they cooperate between each other

3- You won't get a single web view of all of your accounts in each country

4- No money transfer fees from one country account to another regardless of acct type (good)

5- To waive all fees, one must have a CitiBank Gold account ($50K USD collectively)

6- If say, you have built some good credit in the US, this would be transferred with you to other countries (good)

7- Good exchange rates if you have CitiBank Gold

8- Host country credit card

9- 1000s of ATMs

I might give them a shot unless somebody screams otherwise :lol: !

[luke]

OK folks... I did some research on CitiBank and here it goes...

1- They have a branch in Cebu (Ayala) and Manila (Makati) plus many other countries

2- Each branch, even though it's a CitiBank, is kind of separate not like HSBC. However, they cooperate between each other

3- You won't get a single web view of all of your accounts in each country

4- No money transfer fees from one country account to another regardless of acct type (good)

5- To waive all fees, one must have a CitiBank Gold account ($50K USD collectively)

6- If say, you have built some good credit in the US, this would be transferred with you to other countries (good)

7- Good exchange rates if you have CitiBank Gold

8- Host country credit card

9- 1000s of ATMs

I might give them a shot unless somebody screams otherwise :lol: !

1. There are 5 branches in Metro Manila and 1 branch in Cebu. Citibank acquired a Filipino bank (forgot the name) some years ago and renamed it to "Citibank Savings Bank". It is a subsidiary of Citibank n.a.

3. The website is tailored per country and language. So you you can only view your accounts per country.

4-5. To open a "FREE" account in Europe, a 10K EUR consolidated balance needs to be maintained on a monthly basis. For the PH its the equivalent (PHP and USD accounts) of 300K PHP. (that interest should pay for the "FREE")

7. Exchange rate varies from 1 to 1.5% on the mid-range exchange rate. If i would transfer 1000 EUR between EUR and PHP and I would get 10-15 EUR less than if I take it to the best money changer in Makati.

So that's the "fee" you pay for transferring funds between international Citibank accounts. Transferring funds between Citibank and non-Citibank accounts will add additional fees.

8. Since I have no residency in Europe at the moment, I can't apply for a credit card on my European account. I have a credit card on the PH account. They just send me without asking if I'm interested. It's called "Serving the debt market", meaning getting people in debt so they can charge (high) interest.

9. All Citibank ATMs have no transaction fees for PH and international cards. However most PH bank charge the same dreaded 200PHP for Citibank international cards.

This setup has been working for me for 5+ years now.

Don't kid yourself! Nothing is free in the banking world. Read the small print!!.

Success!

[Dr. Cockroach]

OK folks... I did some research on CitiBank and here it goes...

1- They have a branch in Cebu (Ayala) and Manila (Makati) plus many other countries

2- Each branch, even though it's a CitiBank, is kind of separate not like HSBC. However, they cooperate between each other

3- You won't get a single web view of all of your accounts in each country

4- No money transfer fees from one country account to another regardless of acct type (good)

5- To waive all fees, one must have a CitiBank Gold account ($50K USD collectively)

6- If say, you have built some good credit in the US, this would be transferred with you to other countries (good)

7- Good exchange rates if you have CitiBank Gold

8- Host country credit card

9- 1000s of ATMs

I might give them a shot unless somebody screams otherwise :lol: !

1. There are 5 branches in Metro Manila and 1 branch in Cebu. Citibank acquired a Filipino bank (forgot the name) some years ago and renamed it to "Citibank Savings Bank". It is a subsidiary of Citibank n.a.

3. The website is tailored per country and language. So you you can only view your accounts per country.

4-5. To open a "FREE" account in Europe, a 10K EUR consolidated balance needs to be maintained on a monthly basis. For the PH its the equivalent (PHP and USD accounts) of 300K PHP. (that interest should pay for the "FREE")

7. Exchange rate varies from 1 to 1.5% on the mid-range exchange rate. If i would transfer 1000 EUR between EUR and PHP and I would get 10-15 EUR less than if I take it to the best money changer in Makati.

So that's the "fee" you pay for transferring funds between international Citibank accounts. Transferring funds between Citibank and non-Citibank accounts will add additional fees.

8. Since I have no residency in Europe at the moment, I can't apply for a credit card on my European account. I have a credit card on the PH account. They just send me without asking if I'm interested. It's called "Serving the debt market", meaning getting people in debt so they can charge (high) interest.

9. All Citibank ATMs have no transaction fees for PH and international cards. However most PH bank charge the same dreaded 200PHP for Citibank international cards.

This setup has been working for me for 5+ years now.

Don't kid yourself! Nothing is free in the banking world. Read the small print!!.

Success!

1- Cool! :thumbsup:

3- Eh... well.. I guess I can live with that. Mind you, HSBC shows them all on one page. :thumbsup:

4-5- I think the limit is $15K USD for non Gold accounts. But with Gold ($50K USD) one would get more benefits. It's up to the person. So, pass here too. :thumbsup:

7- Kewl here too! If I can do without fees, by all means :thumbsup:

8- Yup! Whatever money they can get, they will! Nobody loves me for my blue eyes :thumbsup:

9- Another Kakewl point! :thumbsup:

What I will need is 3 banks. One in the US, one in Australia and one in the Philis where I intend to reside. Each can handle their own country's affair and mine.

I might open an US account before leaving and get their credit card. Once I get to the Philis, I can do the same there and see how its going to work.

Many thanks!

[Dr. Cockroach]

I went to a Citi Bank here in Cebu next to Ayala to investigate what banking choices i have if and when?

They said, and I could be wrong, there would be no fees charged at any ATM in the RP and the only requirement to open an account is to have a valid residency.

it could be an ACR card, as you can see circled in the regulations image I have attached. I asked for the beef :)

It don't matter if one has a Citibank account (gold or not) any where else, by the way.

Also, they said (?), wire transfers would be free if you transfer from your USD (for example) account in another country to the RP USD account.

I was planning on having a USD and a Peso accounts here with my USD Citibank account in the US. In whatever you do, test first!

My personal advice is not to put too much in the RP account. Just couple of months expenses worth.