bepresentnow Posted November 3, 2011 Posted November 3, 2011 If I can't get a US$ account. Another option I'm gonna do is setup a bank account in the Philippines, then transfer my money via XE.com, zero fees, and the exchange rate is the best I can find anywhere, might even be better than the rates you get from the local exchange shops. Xe.com takes money out of your bank account through ACH then direct deposit this into any foreign bank account worldwide in whichever currently available (both is free), takes about a week and a half when I transfer from an US bank to a UK bank. This is my method for paying for contractors from abroad. Link to comment Share on other sites More sharing options...
Art2ro Posted November 3, 2011 Posted November 3, 2011 (edited) If I can't get a US$ account. Another option I'm gonna do is setup a bank account in the Philippines, then transfer my money via XE.com, zero fees, and the exchange rate is the best I can find anywhere, might even be better than the rates you get from the local exchange shops. Xe.com takes money out of your bank account through ACH then direct deposit this into any foreign bank account worldwide in whichever currently available (both is free), takes about a week and a half when I transfer from an US bank to a UK bank. This is my method for paying for contractors from abroad. Explain how it is free! I haven't seen any money remittance establishments or websites lately that is totally free of charge! Carried over from my other post http://www.philippin...t=0Oh I see where the catch is at, with www.xe.com, it takes a week for funds to be available to your account, which means they are making money off your money within that week's time frame with millions of other's money! So in essence, they profit off your money with millions of others money to boot and they don't charge you a fee for using your money in their money trading scheme of things! Edited November 3, 2011 by Art2ro Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted November 3, 2011 Posted November 3, 2011 If I can't get a US$ account. Another option I'm gonna do is setup a bank account in the Philippines, then transfer my money via XE.com, zero fees, and the exchange rate is the best I can find anywhere, might even be better than the rates you get from the local exchange shops. Xe.com takes money out of your bank account through ACH then direct deposit this into any foreign bank account worldwide in whichever currently available (both is free), takes about a week and a half when I transfer from an US bank to a UK bank. This is my method for paying for contractors from abroad. You are talking to guys who have tried it all, just about, and although this idea has merit your original plan is better. The absolute best exchange rate you are going to get, for US dollars to Philippine pesos, is right in Cebu or Manila at a grey market currency exchange. Get your US dollar account set up and either wire the money to your account or write yourself a check and wait a couple months for it to clear. Take out your money in crisp US$100 bills and go find your best currency exchange. Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted November 3, 2011 Posted November 3, 2011 If I can't get a US$ account. Another option I'm gonna do is setup a bank account in the Philippines, then transfer my money via XE.com, zero fees, and the exchange rate is the best I can find anywhere, might even be better than the rates you get from the local exchange shops. Xe.com takes money out of your bank account through ACH then direct deposit this into any foreign bank account worldwide in whichever currently available (both is free), takes about a week and a half when I transfer from an US bank to a UK bank. This is my method for paying for contractors from abroad. Explain how it is free! I haven't seen any money remittance establishments or websites lately that is totally free of charge! Carried over from my other post http://www.philippin...t=0Oh I see where the catch is at, with www.xe.com, it takes a week for funds to be available to your account, which means they are making money off your money within that week's time frame with millions of other's money! So in essence, they profit off your money with millions of others money to boot and they don't charge you a fee for using your money in their money trading scheme of things! I am pretty sure they cannot do it at all Art. The poster mentions using it between US and UK but I use it in Phils and my terms of service say that the countries that you can do that in are: EFT deposits currently only available for accounts in the following currencies and countries: AUD to Australia. CAD to Canada. EUR to France, Germany, Italy, Netherlands and Spain. GBP to The United Kingdom. NZD to New Zealand. USD to The United States or Canada. Link to comment Share on other sites More sharing options...
bepresentnow Posted November 3, 2011 Posted November 3, 2011 (edited) Didn't realized they don't do that in Philippines, I don't have a PH account to test it.Will really have to try to setup the USD account, will they accept personal check or does it need to be certified check? Bah, didn't bring either so I'm gonna have to do a wire. Edited November 3, 2011 by bepresentnow Link to comment Share on other sites More sharing options...
Art2ro Posted November 23, 2011 Posted November 23, 2011 As of Nov 23, 2011Quotes from Yahoo Finance 1 U.S. Dollar = 43.47 1 Canadian Dollar = 41.641 Australian Dollar = 42.211 British Pound = 67.69It's just the middle of the week and the USD rate is doing fairly well! Link to comment Share on other sites More sharing options...
Call me bubba Posted November 23, 2011 Posted November 23, 2011 althou this is another topic. it is very similar in nature. so i list the link http://philippines-expats.com/index.php?showtopic=8545&hl=&fromsearch=1 Link to comment Share on other sites More sharing options...
Art2ro Posted November 24, 2011 Posted November 24, 2011 althou this is another topic. it is very similar in nature. so i list the link http://www.philippin...l=&fromsearch=1 Yes similar in nature, but a difference between a few dollars and cents and that makes a big difference when we're talking about hundreds of thousands of dollars which the U.S. dollar is higher than the other country's rate for this moment in time! So, get it now at P43.475, because it maybe at P41 next week or even lower the months after and months still after that! Then again, it could go beyond P43.95 til this weekend, but I doubt it! My crystal ball hasn't worked in a long time! 1 Link to comment Share on other sites More sharing options...
Art2ro Posted November 25, 2011 Posted November 25, 2011 Yes! I just converted some of my dollars today on-line at the P43.89 rate, but as you well know it's about 20 centavos less at the local bank rate! Good enough for me though, because it was below P42 just a few weeks ago! As I said, better get on it now while the exchange rate for USD currency rate is pretty good! Link to comment Share on other sites More sharing options...
Art2ro Posted November 27, 2011 Posted November 27, 2011 Yes! I just converted some of my dollars today on-line at the P43.89 rate, but as you well know it's about 20 centavos less at the local bank rate! Good enough for me though, because it was below P42 just a few weeks ago! As I said, better get on it now while the exchange rate for USD currency rate is pretty good! The rate for USD in the past few days has been holding steady at P43.95! Good deal while it lasts! Link to comment Share on other sites More sharing options...
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