Large sums of money transactions from the UK

[Dave Hounddriver]

2 hours ago, robert k said:

I can explain it to you but I can't understand it for you.

Thank you for explaining it to me, as you understand it.

2 hours ago, robert k said:

Of what possible benefit to ME would it be to show YOU?

My response would have to be:  Of what possible benefit to ME would it be to follow your theoretical explanation when no one has ever done it or seen it done?

That does not mean I do not appreciate your posts.  Indeed I do appreciate your writings!  I also learn a lot from you.  Had you claimed to have actually done this or given a first hand example of someone who has actually done this, in Philippines, then I would be thoroughly impressed and I would not doubt you at all.  Maybe Snowy69 will be the "lab rat" to give your very logical theory a try.  For me, I'd stick to the tried and true bank transfer, this due to the rules of logic seldom applying in Philippines.

[robert k]

5 minutes ago, Dave Hounddriver said:

Thank you for explaining it to me, as you understand it.

My response would have to be:  Of what possible benefit to ME would it be to follow your theoretical explanation when no one has ever done it or seen it done?

That does not mean I do not appreciate your posts.  Indeed I do appreciate your writings!  I also learn a lot from you.  Had you claimed to have actually done this or given a first hand example of someone who has actually done this, in Philippines, then I would be thoroughly impressed and I would not doubt you at all.  Maybe Snowy69 will be the "lab rat" to give your very logical theory a try.  For me, I'd stick to the tried and true bank transfer, this due to the rules of logic seldom applying in Philippines.

Dave, you say you have tried to do an exchange of Canadian dollars? May I ask how many times you tried?

May I also ask if you specifically did it by the certified / bank / cashiers check? Since you never specifically answered that question, I believe you did not, especially since you were talking about having paper money on hand at the bank.

I have had to do things that people say are impossible. Not bragging, it's really kind of sad when you have little choice but to do what people say is impossible, even your own family. 

[Snowy79]

I've emailed my account manager to clarify if the UK will allow me to transfer pounds Sterling from the UK to pounds Sterling in the Philippines at no cost (electronically obviously) I've also requested information as to what happens should I withdraw the money. I'm pretty certain if drawn as Peso they charge their reduced exchange rate. About 1 peso below the day rate. That's a hefty chunk of money when you're talking over £140,000. I could get someone to love me for a long time on that money.

[Dave Hounddriver]

6 minutes ago, robert k said:

May I also ask if you specifically did it by the certified / bank / cashiers check? Since you never specifically answered that question, I believe you did not

I tried 3 different banks.  2 in Cebu and one in Manila (via their online chat function).  Each told me that I can have an account in Canadian dollars or UK Pounds or many other currencies but I could only withdraw from those accounts in pesos UNLESS they had the currency "on hand" to give me.  That never happens because when they have those currencies they forward them on the next armored car to Manila and they will not order in the currency so I can benefit by taking the currency in cash.  In all cases the account I would have been able to open was a "savings account" so it did not occur to me that I should ask to withdraw the funds by cashier's check.  It also did not occur to me that a "money changer" would give me the same rate on a "cashier's check" as he would with cash.

So this brings me back to my statement that it is logical that your way would work but I cannot imagine it happening in Philippines so I would have to see it to believe it.  So until someone tries it, its a nice theory.  From your previous posts I have read how you have done things that some consider "impossible" so I revert to my stance that:

43 minutes ago, Dave Hounddriver said:

 Maybe Snowy69 will be the "lab rat" to give your very logical theory a try.  For me, I'd stick to the tried and true bank transfer, this due to the rules of logic seldom applying in Philippines.

 

[Jack Peterson]

No matter who tries what to go around things it is going to have to be Bank to Bank at that amount (or certified Cheque [Hopefully accepted]) and plenty of Paperwork too, 

It sounds like someone is Trying to get this amount  in Hard Currency and then changed to peso, we all know that is just not Going to happen When I bought the Car in November 2016 I Transferred in 16.000 Euro believe me that was Hard enough, all the Who, what, when and why This is a pretty tied up Country and Nothing but Nothing is as easy as some people think. Even when I became eligible and wanted 3 of my 4 pensions paid into PNB I had to prove where it was all coming From, when and amounts.

 Bank to Bank and a good reason for the Transfer is what they will want, we may think it is ALL corrupt but even our own Money is questionable.

Seems they on the ball now with trying to stop Money Laundering, Like I found in Malta and Gibraltar they are operating on the KYC ( Know Your Customer) Malta even wanted to know why I was sending money to a Philippines bank 

 More Fun?  But I like it here

[Snowy79]

I did read a clause in about page 76 of the terms and conditions stating they can if they have insufficient funds release the money as Peso and not pounds. That'll bite me on the banger so I'll look at the idea of a cashiers cheque.

[Dave Hounddriver]

4 minutes ago, Snowy79 said:

 

I've emailed my account manager to clarify if the UK will allow me to transfer pounds Sterling from the UK to pounds Sterling in the Philippines at no cost (electronically obviously)

 

There is no question that you can do that, provided you do whatever paperwork they require of you.  Its getting a good rate when you withdraw in pesos that we are all on about.  RobertK may be onto something.  But I'd be looking at transferring pounds to a peso account at the best possible rate.  I do very well using a number of online FX sites but all of them are limited to $10,000 dollars so with larger amounts you are stuck using bank to bank or possible writing a check on your UK account to deposit in your Sterling savings account in the Philippines.  Then you are back to square one. . .  getting it into pesos.

[Snowy79]

1 minute ago, Dave Hounddriver said:

There is no question that you can do that, provided you do whatever paperwork they require of you.  Its getting a good rate when you withdraw in pesos that we are all on about.  RobertK may be onto something.  But I'd be looking at transferring pounds to a peso account at the best possible rate.  I do very well using a number of online FX sites but all of them are limited to $10,000 dollars so with larger amounts you are stuck using bank to bank or possible writing a check on your UK account to deposit in your Sterling savings account in the Philippines.  Then you are back to square one. . .  getting it into pesos.

I've looked at the usual Forex ideas and they could work if I throw the money into a Peso account as they charge about £75 but give at a minimum 1 peso more per pound than the bank.

[Jack Peterson]

1 minute ago, Snowy79 said:

if they have insufficient funds release the money as Peso and not pounds. That'll bite me on the banger so

 Just out of Curiosity, why do you want 140.000+ in Pounds Sterling, what the Frig are you going to do with it. If I was the receiving bank I would be asking this

[Snowy79]

I've got a psycho ex wife causing issues with me in the UK. We are divorced and under Scottish law she has no more claims on my finances but she used to work for the Citizens Advice Bureau and is trying to get my accounts frozen. I'm shifting the money before she gets a chance just to be safe. A word of advice. Some banks allow you to link accounts. It's called Global view. Don't use it as it gives the UK government access to all information in linked accounts. If you don't sign up to it they can't view overseas accounts.

The money will be going towards a condo (on titled land ) then leave me some money for leisure activities. You get better rates on savings over here than the UK.