Opening Bank Account - No Acr I-Card

[boring]

I have an unusual situation from what I can gather.

Briefly, I live in Eastwood, QC for about 15 days each month, and Melbourne, Australia for the rest of the month. I am an Aussie who runs an accounting firm in Australia. We have staff (we use independent contractors to avoid the complications of setting up a foreign corporation) and I lease 2 condos in Eastwood. One as an office, and the other to live in.

I use Western Union to move money over there a lot. But it's not really ideal for me going forward as I want to be able to pay staff, and pay my rent via the internet.

So, I would like to make a Western Union transfer from Australia to my own bank account (which I don't have yet!) in the Philippines and then make my various rent and salary payments online from there.

I will also need my staff to open a salary account with whatever bank I happen to end up with.

The challenge I have is that I do not have an ACR I-Card because I am not on any visa or a resident there. My trips are always less than 21 days. I am going to call the embassy here in Australia and enquire about a 12 month multi entry business visa which may enable me to get the ACR I-Card but I'm not sure yet as I haven't researched that option.

BDO flatly refuse to play with me, which is my preferred bank given both my rent payments go to a BDO account. My understanding is that to do internet transfers like I do in Australia, the transfer must be to the same bank in the Phils. If that is incorrect let me know...

My question is this:

Are there any banks that are likely to allow me to open an account with say an Aussie passport, lease/billing documents from the Phils and a drivers licence from Australia or some other such combination?

[Jollygoodfellow]

Are there any banks that are likely to allow me to open an account with say an Aussie passport, lease/billing documents from the Phils and a drivers licence from Australia or some other such combination?

I'm sure that question is answered once or twice in this very same banking questions forum but have you considered using orbit remit instead of Western Union? Orbit charge $8.00 where WU charge $14 per transaction and with a lower exchange rate.

Paying staff can be done by orbit directly into their bank account or pick up at BDO.

[boring]

That's interesting, I will check it out. Ultimately the main purpose of the bank account is simply to pay staff and pay my rent without having to physically be there moving cash around between banks.

Thanks for the tip.

[Call me bubba]

BDO seems to be very ANAL on accounts for white looking faces

Try BPI. as they have ON-LINE services that may "fit" your requirements.

If 1 bank SAYS NO. check w/another

listed below is what BPI asks to open an account. it is similar w/other banks

perhaps your landlord or other RP citizen can go with you as a "friendly face" to help?

. Make personal appearance to the bank and bring the following requirements.

TWO (2) Valid IDs and Photocopy of them

Passport

Driver’s license

Professional Regulations Commission (PRC) ID

National Bureau of Investigation (NBI) clearance

Police clearance

Postal ID

Voter’s ID

Barangay certification

Government Service and Insurance System (GSIS) e-Card

Social Security System (SSS) card

Philhealth card

Senior Citizen Card

Overseas Workers Welfare Administration (OWWA) ID

OFW ID

Seaman’s Book

Alien Certification of Registration/Immigrant Certificate of Registration

Government office ID (e.g. Armed Forces of the Philippines (AFP), Home Development Mutual Fund (HDMF) IDs)

Certification from the National Council for the Welfare of Disabled Persons (NCWDP)

Department of Social Welfare and Development (DSWD) Certification

Other valid IDs issued by the Government and its instrumentalities

Billing Statement (to verify your billing address)

Electric Bill

Telephone Bill

Water Bill

Credit Card Bill

etc.

TWO (2) copies one-by-one latest photo

[JJReyes]

Similar to your situation, our company at one time had eighteen Philippine artists working as independent contractors on a project. We used Philippine National Bank (PNB) because they have a remittance center in Honolulu. The independent contractors were required to apply for a PNB Global Filipino account. It is free. The condition is a P200 remaining balance on the account. They can only use the bank's ATM machines to make withdrawals. I would remit payments at a cost of $7 per transaction. Since it was an internal transaction (same bank), The remittance would be confirmed within one or two minutes. I would then email or call the independent contractor to go to the nearest PNB branch and use their ATM.

Find out if there is a Philippine bank money remittance center near your office in Melbourne. If none, Jollygoodfellow suggests using Orbit.

[Americano]

I opened a BPI account in Cebu City without an ACR card. I believe I only had to supply my Passport, Driver's License and two photos which I printed at home. Maybe I had to prove my address with a Bill but I don't think so. My wife has an account at BPI too. It only takes me about 2 minutes to transfer money into her account on the BPI website.

Most of the banks in the Philippines require an ACR card to open an account and other documents that you have to run around all over town trying to get. I couldn't open an account at the Landbank in Carcar because I didn't have an ACR card and my wife couldn't open one because the Bank didn't accept a Postal ID. I guess Landbank doesn't trust the Post Office.

[boring]

Thanks for the feedback guys.

1. I have today contacted my real estate agent who I am on very good terms with to see if she can be the friendly face at BDO for me and possibly get some leverage with someone more senior than front desk staff...whom we all know have no flexibility etc. She knows all the staff in the Eastwood branch so I'm hoping that might work.

2. I have also contacted Orbit (no reply yet and no answer when I called them) to see if the recipient of the transfer is charged a fee. I know if I make a wire transfer from my Aussie account to an o/seas account there are fees on both sides which adds up. Oribit will be a good short term solution but the fees will be too much each month to do it longer term.

3. I am also going to enquire with the PI Embassy here in Oz about a 12 month multi entry business visa and whether that will lead to an ACR card if I so desire...but I am not sure about the mechanics and rules around all that yet.

4. Failing that I will get my skates on and start door knocking banks until I find one that will accept my situation, starting with the banks suggested in this thread.

:)

[bootleultras]

Same with PS Bank, I had no issues setting up an account for when i got a lump sum check sent from the USA, just took my passport along and that was that!

[samatm]

I opened a BPI account in Cebu City without an ACR card. I believe I only had to supply my Passport, Driver's License and two photos which I printed at home. Maybe I had to prove my address with a Bill but I don't think so. My wife has an account at BPI too. It only takes me about 2 minutes to transfer money into her account on the BPI website.

Most of the banks in the Philippines require an ACR card to open an account and other documents that you have to run around all over town trying to get. I couldn't open an account at the Landbank in Carcar because I didn't have an ACR card and my wife couldn't open one because the Bank didn't accept a Postal ID. I guess Landbank doesn't trust the Post Office.

Was this opened recently?

to the op . If you can use BPI they have a very up to date online system . We have been using them for years to dispatch cash to friends and family. I have confidence in BPI.

[Americano]

I opened my BPI account almost three years ago and have had very good service since then. And, there on-line banking is very easy to use.

A note to those who do not live in the Philippines yet but are planning to move here. Before you come to Cebu or Manila and open a bank account its best if you know where you will be living and which Banks have a Branch in that area or near by. With on-line banking it doesn't matter if you're close to a branch or not but it does when you need to go to the bank for some reason. For example to use the ATM. Even the national banks like BPI are not in all locations. You may be in a large town and there's no BPI and then you may be on a small island and there is a BPI bank there. That's the main reason my wife and I opened accounts at Landbank in Carcar, there's no BPI here. The closest one that we can use sometimes is in Talisay City which is about one hour drive North of Carcar. I finally got an ACR Card so I could open an account at Landbank.