Moving to Philippines best local bank for expats?

[KurtVD]

Since I’m just about to move here, I don’t have a PI bank account and the card is linked to my home account (Switzerland). Is there a “preferred” bank amongst expats/foreigners, should I decide to open one? BDO? 

 

Ironically, I credited my card with enough money before leaving, to avoid paying interest, and now I can only access it in small installments 😂😂😂. 

 

 

Edited June 18, 2018 by Old55
Split to new topic pertaining to new question

[Old55]

I can’t help much with this topic other to say it may be helpful to contact your home bank before moving to and opening an account in Philippines.

[KurtVD]

Actually, I’ve read through a couple of threads in this section of the forum, and this problem has been discussed multiple times. I won’t be able to open a bank account, I don’t have the necessary documents yet, so for now I’ll work with the 10k withdrawals and the occasional Western Union transfer. 

Thanks for reading ;)

[Queenie O.]

Hi Kurt,

Since moving here permanently, we've done most of our banking at BDO. We have a peso and dollar account, and a BDO Visa Debit card for international online purchases. Usually you get an account at a particular bank branch, and that will be your go-to location. If you go to another branch in a different location you will be charged 200 pesos for a transaction fee.  I believe that it's good to get friendly with the bank manager and assistants early on, as they can remember you and help you to expedite your account if needed.

Edited June 19, 2018 by Queenie O.

[scott h]

20 minutes ago, KurtVD said:

I won’t be able to open a bank account,

I think you will have significant challenges opening an account………….but don't give up hope. Things vary widely from branch to branch here. If you want to invest the time and shoe leather you can go from bank to bank until you find one that will open an account for you. 

Here is a problem though, unlike in the states, branches operate more like franchises. If you go to a branch other than the one you opened the account in you might be charged a service fee. Just an FYI