Good News For Expats? Come On 1=50!

[OnMyWay]

Here is a story about the central bank trying to keep the peso from going too high.

 

http://www.bloomberg.com/news/2013-04-28/philippines-mulls-adjusting-deposit-facility-as-currency-rises.html

[earthdome]

 

?? That's 51 - 66 pesos per US dollar. But I suppose you mean something else  

 

Whoops!  I meant centavos!

 

I usually exchange larger amounts, so for a $5000 exchange, and extra 20 centavos gets me an extra 1000 pesos, so it is worth seeing the manager.  I never had to wait.

 

With BPI online accounts fx you get better rates than if you visit the bank... plus you get better rates the more money you are exchanging.

Next time a do an online FX with BPI I will post the rates. It may be you were just getting the online fx rates.

[i am bob]

 

?? That's 51 - 66 pesos per US dollar. But I suppose you mean something else  

 

Whoops!  I meant centavos!

 

I usually exchange larger amounts, so for a $5000 exchange, and extra 20 centavos gets me an extra 1000 pesos, so it is worth seeing the manager.  I never had to wait.

 

I was kind of liking that 60 to 1 rate...  Darn Centavos!

 

 

:mocking:

[OnMyWay]

 

 

?? That's 51 - 66 pesos per US dollar. But I suppose you mean something else  

 

Whoops!  I meant centavos!

 

I usually exchange larger amounts, so for a $5000 exchange, and extra 20 centavos gets me an extra 1000 pesos, so it is worth seeing the manager.  I never had to wait.

 

With BPI online accounts fx you get better rates than if you visit the bank... plus you get better rates the more money you are exchanging.

Next time a do an online FX with BPI I will post the rates. It may be you were just getting the online fx rates.

 

 

 

 

 

 

?? That's 51 - 66 pesos per US dollar. But I suppose you mean something else  

 

Whoops!  I meant centavos!

 

I usually exchange larger amounts, so for a $5000 exchange, and extra 20 centavos gets me an extra 1000 pesos, so it is worth seeing the manager.  I never had to wait.

 

With BPI online accounts fx you get better rates than if you visit the bank... plus you get better rates the more money you are exchanging.

Next time a do an online FX with BPI I will post the rates. It may be you were just getting the online fx rates.

 

 

No, that is what I thought too but after my first couple of online transfers I followed my girlfriends advice and talked to our bank manager, and the first time I did a $5000 transfer he got me well over the online $5000 rate and over the XE.com rate too.  Enough extra pesos to buy a nice dinner!   :hystery:   I always check the online rates before I go in and you are correct in that they are slightly better than the sign in the office shows.

 

Your mileage may vary.  We have a great branch manager here who was also recommended by some other expats.

[jon1]

 

 

 

?? That's 51 - 66 pesos per US dollar. But I suppose you mean something else  

 

Whoops!  I meant centavos!

 

I usually exchange larger amounts, so for a $5000 exchange, and extra 20 centavos gets me an extra 1000 pesos, so it is worth seeing the manager.  I never had to wait.

 

With BPI online accounts fx you get better rates than if you visit the bank... plus you get better rates the more money you are exchanging.

Next time a do an online FX with BPI I will post the rates. It may be you were just getting the online fx rates.

 

 

 

 

 

 

?? That's 51 - 66 pesos per US dollar. But I suppose you mean something else  

 

Whoops!  I meant centavos!

 

I usually exchange larger amounts, so for a $5000 exchange, and extra 20 centavos gets me an extra 1000 pesos, so it is worth seeing the manager.  I never had to wait.

 

With BPI online accounts fx you get better rates than if you visit the bank... plus you get better rates the more money you are exchanging.

Next time a do an online FX with BPI I will post the rates. It may be you were just getting the online fx rates.

 

 

No, that is what I thought too but after my first couple of online transfers I followed my girlfriends advice and talked to our bank manager, and the first time I did a $5000 transfer he got me well over the online $5000 rate and over the XE.com rate too.  Enough extra pesos to buy a nice dinner!   :hystery:   I always check the online rates before I go in and you are correct in that they are slightly better than the sign in the office shows.

 

Your mileage may vary.  We have a great branch manager here who was also recommended by some other expats.

 

I also use the same bank. I get the same treatment as OnMyWay. I check at Oanda.com before I go, and I always get at least .10 better than the published rate for the day. What's even better, I take out the $ and then have them deposit all but what I immediately need into my Php account. That way I don't have a lot of money hanging around. It's relatively painless and am usually in and out in about 15-20 minutes...