Getting my money each month from a US bank account

[rikstick4493]

Hello,

My girlfriend lives in Cebu and I've decided to marry her. We have met twice and the way that I send her money is using Xoom. My question is: once I take the plunge to move to Cebu, I'll receive my Social Security check in my US bank account plus I work as an online adjunct instructor in the US and that pay also goes to the same bank account. Can I still use Xoom to transfer my money to my fiancé's BDO account while I'm in the Philippines? Also, can I open up a BDO account myself once she and I get married? If I can't use Xoom from the Philippines, how do you guys get your money from the US?

Thanks,

 

James

[scott h]

Welcome to the forum

9 minutes ago, rikstick4493 said:

how do you guys get your money from the US?

There are as many different ways to access money as there are expats. What we do is have our money deposited into our USA checking account then using USA checks deposit them into our dollar account in a Philippine bank. Drawback is we have to wait for the checks to "clear" before we can access the dollars.

13 minutes ago, rikstick4493 said:

Also, can I open up a BDO account myself once she and I get married?

Generally yes, AFTER you get your 13A visa approved, which you can apply for after 6 months residency, and usually takes about 6-9 months to get processed and approved, so a year after marriage you "should" be able to open an account "legally".

[Lee]

1 minute ago, scott h said:

Drawback is we have to wait for the checks to "clear" before we can access the dollars.

It can take a month for a US check to clear so you will have to plan ahead and determine how much $ you will need to get by.

Expats opening accounts in the PI have become problematic in recent years.

[rikstick4493]

Thanks guys, so I'm assuming since no one addressed my question of using Xoom to transfer money from my US bank account to my fiance's bank account then it is not possible, correct? Or have you not tried to use Xoom before from the Philippines? When I transfer money from my US bank account using Xoom, it only takes 20 minutes for it to hit her BDO account.

[scott h]

50 minutes ago, rikstick4493 said:

my question of using Xoom to transfer money from my US bank account to my fiance's bank account then it is not possible, correct?

Frankly I have no idea what Xoom is, unless it refers to those sound effect visuals in the old Batman series 

[OnMyWay]

52 minutes ago, rikstick4493 said:

Thanks guys, so I'm assuming since no one addressed my question of using Xoom to transfer money from my US bank account to my fiance's bank account then it is not possible, correct? Or have you not tried to use Xoom before from the Philippines? When I transfer money from my US bank account using Xoom, it only takes 20 minutes for it to hit her BDO account.

I have not used a transfer service in years but I don't think there is a problem using them while in PH.  I think Wise is cheaper to use than Xoom these days.

Maintain a U.S. address for banking and other reasons.  There is another thread right now on Wells Fargo shutting down accounts of expats.  Don't let your banks, brokerages, etc., know that you are living in the Philippines.

[craftbeerlover]

1 hour ago, rikstick4493 said:

Thanks guys, so I'm assuming since no one addressed my question of using Xoom to transfer money from my US bank account to my fiance's bank account then it is not possible, correct? Or have you not tried to use Xoom before from the Philippines? When I transfer money from my US bank account using Xoom, it only takes 20 minutes for it to hit her BDO account.

Many different ways to send money to yourself, xoom being one.  You can use Western union, paypal, Wise...(and there are more).  You can send yourself cash for pickup, you can send to a gcash account (your soon to be bride probably already has that), and you can send direct to a bank account.  Depositing a check is an option, but not one I liked, it takes way too long for your money to show up in your account and they charge a 5 dollar fee for each check.      I would check out all options, check the fee's check availability to your location and go from there.  (Gcash might be the easiest, cheapest, and quickest), but you should do your own research for sure. 

[Kingpin]

3 hours ago, rikstick4493 said:

how do you guys get your money from the US?

https://www.expat.hsbc.com/

[Mike J]

1 hour ago, Kingpin said:

https://www.expat.hsbc.com/

You will need to establish an HSBC account while still living in the USA.

<snip>Set up your account in USD, EUR or GBP and no matter how many times you move, your account with us stays the same. Once you've opened an Expat Bank Account, you'll be able to explore our whole range of specially tailored services including mortgages, investments and savings accounts.<end snip>

[Gator]

4 hours ago, rikstick4493 said:

Hello,

My girlfriend lives in Cebu and I've decided to marry her. We have met twice and the way that I send her money is using Xoom. My question is: once I take the plunge to move to Cebu, I'll receive my Social Security check in my US bank account plus I work as an online adjunct instructor in the US and that pay also goes to the same bank account. Can I still use Xoom to transfer my money to my fiancé's BDO account while I'm in the Philippines? Also, can I open up a BDO account myself once she and I get married? If I can't use Xoom from the Philippines, how do you guys get your money from the US?

Thanks,

 

James

As others have stated there are several remittance companies you can use. I use world remit and wise. Both offer competitive exchange rates and fees. Both work in Philippines as well as if you use a VPN. I also have a Charles Schwab brokerage account that offers free checking and an ATM card you can use internationally. They refund the ATM fees you’re charged too. Schwab charges $15 (USD) for wire transfers (dollar to dollar accounts) and they’re usually done within a few hours; perhaps up to a day due the time difference, depends on the time of day you initiate the transfer.  
 

A bit off topic: During Covid my wife and I got married online. Utah offers this service, it’s fairly inexpensive and you eliminate the 13a visa probationary time. It only takes a few weeks after the wedding to get your PSA stamped copy of your marriage license from the San Francisco consulate (they have jurisdiction over Utah) and another week or so to get your 13a visa from the embassy or another consulte (depends on where in the USA you live). There’s a bit more involved then I’ve written here, but basically within 3-4 months you’ll have all you need to get your permanent 13a visa on arrival (it will require a trip to the intramuros BOI office). If you and your fiancé are the religious type, you can always have a church wedding at a later date.