International Banks

[BrettGC]

Hit a snag already, apparently due to the 3 month festive season the wheels of industry have stopped in PI and it won't be happening until the new year...  And so it begins....

[Jack Peterson]

1 hour ago, BrettGC said:

And so it begins....

 It is what it is EH? 

[Clermont]

BrettGC: Sorry But I laughed when I read about BOQ ripping into you with fees, double whammy, it reminded me of one of my experiences, I was pi== off too. How I overcome the problem: I prosum your partner is still over there, get her to open a Landbank account, ( minimum account amount 500 peso to be maintained) PI can open an account, (no banking fees,) foreigners no. DO NOT use electronic transfer from bank to bank, (sh== exchange rate plus dearer fees.

We maintain a Aussie bank account over here then transfer electronically through Worldremit to Landbank, simple procedure, not to bad exchange rate and into the account the same day or following day, depends on holidays and time you transfer. $5000 max, (fees included in that $5000 transaction) per day, or if you want to transfer less, ok, once you look at the site you will understand.

Safeguard: the account will be in her name and if you can't wrestle the card off her, don't worry, but explain she has to pay all bills, etc and money for you, you know your partner so a bit of coning and you should get the card. Maintain your Aussie card and leave enough $ in it to withdraw in the PI's if things go haywire with the relationship.

Been doing it like that for over five years and not a problem to date, just let your bank know you will be overseas and make sure they flag it on their computer, essential. Also ask them how long that flagging will last and get the branch website in case they bugger up and you have to get in touch with them.

Simple procedure and safe. 

[Jollygoodfellow]

2 hours ago, Clermont said:

foreigners no

I assume you mean foreigners can not open account? 

Their website says you can but the site is dated 2014 so who knows if this is still relevant. 

Foreigner, all of the following:
Passport 
ACR/Diplomatic Identification Card issued by the DFA specifying status i.e., working, business, student or non-resident
Note: 
Foreign national whose working permit is under process shall be required to submit Certificate of Employment.

 

[Clermont]

9 hours ago, Jollygoodfellow said:

I assume you mean foreigners can not open account? 

I have just been told, you might be right,( Gee that's hard to admit,) Landbank is a government bank and was only for PI's, since electronic age and overseas workers transfering money, my wife says check with the bank. See how simple things are nowadays, flaws in posts are easily corrected without hostility or snide remarks.

I propose, let's make this fellow  a permanent fixture and all be jolly.

[Jollygoodfellow]

1 hour ago, Clermont said:

ee how simple things are nowadays, flaws in posts are easily corrected without hostility or snide remarks.

There was no such thing as hostility or snide remarks in this topic. Nothing was corrected but merely pointing out some facts from a website. Incidentally what I said about the site was dated 2014 most of the text was dated 2017 but who knows. 

[Clermont]

Yeah thanks, but I wasn't referring to your answer  just a general observation of some posts of late were people jump down forum members throats without reading all posts and weighing up the answers. 

[Maxheadspace]

On 12/21/2017 at 11:05 PM, OnMyWay said:

I have kept my Chase bank account from the U.S. and it works fine for me...    The only transactions I do are to write checks to my BPI dollar account.  There are no fees and I have never had any issues.

Let us know if you find a good one!

You write checks?  What are checks?!?    Too funny, I think I have some adjustment to do.  I haven't even owned a checkbook in maybe six or seven years.  I do have a Chase account, but I see Citi has banks in the US and PI, so maybe I'll open an account there. 

[Dave Hounddriver]

A Brit who used to be a friend of mine used to rave about how great the HSBC was.  The problem was:  To get all the benefits you want and need then you need to open a "Premier Account"  Here is a link to the requirements:
https://www.hsbc.com.ph/1/PA_ES_Content_Mgmt/content/philippines/personal/pdf/premier_trb_hbap.pdf

Now the problem is the first requirement.  Many of us do not have 4 million pesos to put on deposit to maintain a premier account.

[scott h]

5 hours ago, Maxheadspace said:

You write checks?

checks are useful if you are building a new home or other big projects here, onse you establish credit with a supplier its a lot better than carrying loads of cash.

We also have a checking account in the states where our pensions are deposited. We write checks to our local PNB into a dollar account and just wait the 30 days for processing.

About citi bank that is the bank we use in the states, when we moved here we opened an account at the nearest branch here, thinking that it would be convenient. But like a lot of things here it proved not to be true lol. They might have the same name, but have only a loose affiliation. For example when we first moved here I could not open an account due to being on a tourist visa. I jumped up and down and said I was a member in good standing but to no avail. Onse we finished our house we closed that account and just use a PNB branch which is closer to us.