Moving Cash for home purchase

[Clermont]

Thanks for that, i think i'll still use world remit maybe a bit more expensive sending $5000 at at time but at least i know it safe and monthly I can transfer money over through them.

[intrepid]

If you are using Bank of America you can send any amount you wish.  However, will will need the safe-pass option.  The best option for using the safe-pass in the Philippines is to get the fob from BOA before you leave.  You can do this all on line by making a wire transfer to your dollar account at your Philippine bank.  Another option I am now using is Western Union.  Find one with the best exchange rate, and set up an account with them.  Ours requested documents to show where the funds originated and also where the funds were to be spent, such as contract for house, construction, land, or vehicle.  I send WU in dollars and transfer right there for pesos and then drive to the bank for deposit.  My latest transfer and deposit was last week of $35k with an exchange of 50.0  days later was up a little more but now back down a little. 

[davewe]

15 hours ago, intrepid said:

If you are using Bank of America you can send any amount you wish.  However, will will need the safe-pass option.  The best option for using the safe-pass in the Philippines is to get the fob from BOA before you leave.  You can do this all on line by making a wire transfer to your dollar account at your Philippine bank.  Another option I am now using is Western Union.  Find one with the best exchange rate, and set up an account with them.  Ours requested documents to show where the funds originated and also where the funds were to be spent, such as contract for house, construction, land, or vehicle.  I send WU in dollars and transfer right there for pesos and then drive to the bank for deposit.  My latest transfer and deposit was last week of $35k with an exchange of 50.0  days later was up a little more but now back down a little. 

Well this is interesting because I met with my branch manager, who knows my situation well and she spoke of no such option. But I can ask again.

In the meantime I spoke with Fidelity and as long as I don't make the mistake of telling them I reside in the Philippines (they will then put restrictions on the account), they said they can do it. Of course the actual transaction has to be approved but they said there are no restrictions on what I want to do.

Edited June 27, 2017 by davewe

[intrepid]

Dave,

With using BoA safepass an international wire fee was $45.00 if sending in usd.  plus the accepting fee at the deposited bank was $10. usd  You can also send in peso which cost $35.00 if sending in peso.  However, I did not check what the exchange rate they were giving at the time.  Might be worth checking out.

[davewe]

On 6/27/2017 at 8:47 AM, davewe said:

Well this is interesting because I met with my branch manager, who knows my situation well and she spoke of no such option. But I can ask again.

In the meantime I spoke with Fidelity and as long as I don't make the mistake of telling them I reside in the Philippines (they will then put restrictions on the account), they said they can do it. Of course the actual transaction has to be approved but they said there are no restrictions on what I want to do.

Called B of A instead of going into the branch and they confirmed what Intrepid said about safe-pass, so I ordered the "card". This raises my limit to 10k daily or 25k weekly, unless I apply for a fancier account. But al least now I have the option of using the bank or Fidelity. Thanks to all for the help!