Opening A Bank Account

[beegee]

Hi All

I'm hoping to be coming to Philippines (Bacolod) later this year and I'm starting to think of the basics - like a bank account. We made some enquiries today for my partner to open account as she's Filipina, but as she's not lived there for 20 odd years it seems not that simple - no ID, Sisters address probably ok, but seems time consuming...... So plan B is me opening one and from what I've read on earlier posts this will also be set with issues, does anyone know for example if it's possible to open a basic account before you actually relocate or do you have to be living there? I'm thinking BPI or BDO the former would be better. I do have the special resident retirement visa and ID card from the PRA, but that probably doesn't count for much. Thoughts or experience would be welcome...thanks.

[Dave Hounddriver]

I think sitting in front of the bank manager and explaining that you are a foreign retiree living in the Philippines and you have an ACR card and 1 other id will get you all the attention you need to open a bank account.  I did it with an expired tourist ACR card.  They also wanted a 2X2 photo of me (seems a recent thing as they did not ask last time I opened an account here many years back).

 

Bottom line, if the bank manager likes you he/she will find a way to help you.  See the manager in person.  Deal with lackies and you will get shafted with idiotic bureaucracy. 

Edited April 28, 2014 by Dave Hounddriver

[scott h]

Agree with Dave. Depends on the bank, the bank manager and the phase of the moon I think. When we arrived we went to Citibank Phil. to open an account. My pension check goes straight into Citibank U.S. so I thought it would be a piece of cake. NO DICE, I would need an ACR card. Wife who is a dual citizen opened the account. Strolled down the street to a BPI branch to open a peso account (we had no prior relationship with them) and whamo. Opened a checking and savings account with just my California drivers licence and passport. Just shop around and don't get frustrated.

[Medic Mike]

I think sitting in front of the bank manager and explaining that you are a foreign retiree living in the Philippines and you have an ACR card and 1 other id will get you all the attention you need to open a bank account.  I did it with an expired tourist ACR card.  They also wanted a 2X2 photo of me (seems a recent thing as they did not ask last time I opened an account here many years back).

 

Bottom line, if the bank manager likes you he/she will find a way to help you.  See the manager in person.  Deal with lackies and you will get shafted with idiotic bureaucracy. 

Very true, I did the same thing with the bank manager. Opened my account in under an hour.

[beegee]

Thanks Guys, looks like patience will be the order of the day. According to the PRA because I hold their ID card and have an indefinite visa I won't need an ACR Card, be interesting to see if the banks see it the same way.

[Dave Hounddriver]

If you don't have the ACR card, try showing your passport and telling the manager there was 'no stock' of ACR cards but when you get one you will bring it in.  (I know others who have succeeded with that line.)  Again, know your bank manager and get them to like you!

[Mike S]

If he has a PRA card I don't believe he needs an ACR I card as the Philippine Retirement Authority doesn't issue those cards and he doesn't fall under the BI jurisdiction .... the bank should recognize the PRA card .... JMHO

:cheersty:

[Tukaram (Tim)]

I would think the PRA card would be all you need.  All I needed was a tourist ACR...