BSP warns: P10,000-bill is fake

[Gary D]

In the UK there where £1 million banks notes, again for interbank transfers.

[Mike J]

On 6/27/2018 at 1:09 PM, JDDavao said:

Ha! I knew it! That's why I insisted on two P5,000s!

Even better would be a P7,000 and a P3,000 they would be highly prized as collector items. 

[robert k]

10k php notes would be handy at times to me. 800k for the new car made quite a brick.

[Dave Hounddriver]

48 minutes ago, robert k said:

800k for the new car made quite a brick

But a Philippine bank "manager's check" is just one slip of paper and I have yet to meet a car dealer who won't accept it. 

[robert k]

5 hours ago, Dave Hounddriver said:

But a Philippine bank "manager's check" is just one slip of paper and I have yet to meet a car dealer who won't accept it. 

I guesstimate that's presupposing one has a Philippine bank account? I know, crazy talk! I do that sometimes.

[GeoffH]

7 hours ago, robert k said:

10k php notes would be handy at times to me. 800k for the new car made quite a brick.

 

Yes I know what you mean, we ended up wrapping it in paper and putting it in a backpack before we went into the Toyota dealer in CDO last year to buy the Avanza.

 

It wasn't a lot smaller than a concrete block and to make it worse I was given half of it in 500 peso notes.

[GeoffH]

6 hours ago, Dave Hounddriver said:

But a Philippine bank "manager's check" is just one slip of paper and I have yet to meet a car dealer who won't accept it. 

 

That assumes one is comfortable with keeping large amounts of money in a Philippines bank,

[Dave Hounddriver]

5 hours ago, GeoffH said:

That assumes one is comfortable with keeping large amounts of money in a Philippines bank,

 

7 hours ago, robert k said:

I guesstimate that's presupposing one has a Philippine bank account? I know, crazy talk! I do that sometimes.

I understand the point you are both making, but how do you get hundreds of thousands of pesos transferred to you without having a bank account in Philippines?  

[GeoffH]

9 minutes ago, Dave Hounddriver said:

 

I understand the point you are both making, but how do you get hundreds of thousands of pesos transferred to you without having a bank account in Philippines?  

 

I use Worldremit and Western Union and whilst we don't keep large amounts of cash in Philippine banks we do have a couple of hundred thousand for emergencies.

I can transfer $5000 Australian in a single day (just under 200,000 peso at this time) from either (or both if I had to) of my 2 Australian banks and I keep a minimum of that in each of those 2 banks.  It takes me 3 to 5 days if I wanted to do a lump sum withdrawl transfer from my superannuation account to my bank account but 400000 peso plus 250000 peso in BDO (plus whatever cash is at the house) is probably going to meet any immediate needs short of buying another car.  It did take a few days to transfer the money for the Avanza but that was because I only used one of my Australian bank accounts, I wanted to keep the other one available in case of an emergency.

Edited July 1, 2018 by GeoffH

[robert k]

16 hours ago, Dave Hounddriver said:

 

I understand the point you are both making, but how do you get hundreds of thousands of pesos transferred to you without having a bank account in Philippines?  

A few Western Union transfers 3k USD at a time. I changed 9k USD at one time in the SM department store. They had to send out for more money. As the rate was rising, I told them to take their time.