Finally Opened A Bank Account

[Art2ro]

Also think twice before you consider doing Direct Deposits of your U.S. Government pensions to your bank in the Philippines, because they only issue passbook type accounts without internet or ATM access.

I'm trying to translate this into "Canadian" and I'm not sure if the situations for us are the same... Are you saying that US Gov pensions are deposited in US $ rather than pesos and only to a US $ account?Sometimes I feel soooooo :89:

You'll just have to find out for yourself what the policies of your Canadian bank is and the bank of your choice in the Philippines, unless some members here are in the know and can give you more details concerning Canadian accounts or direct deposit policies! As I mentioned, dollar accounts are not much of a problem opening an account in the Philippines and direct deposits are possible, but IMO not advisable unless it's what one wants to do with his/her account, I've been there and done that, but I didn't like it! So, I reverted back and kept my U.S. Government pension direct deposits in the U.S.!

[Jake]

Also think twice before you consider doing Direct Deposits of your U.S. Government pensions to your bank in the Philippines, because they only issue passbook type accounts without internet or ATM access.

I'm trying to translate this into "Canadian" and I'm not sure if the situations for us are the same... Are you saying that US Gov pensions are deposited in US $ rather than pesos and only to a US $ account?Sometimes I feel soooooo :89:

Hey Bob,You may get some advice to have your Canadian dollars (your pension) direct deposit to a Canadian dollar account in a PI bank for the sake of convenience. Personally, I would not recommend it. For one thing, there may be some restrictions from your government about your military pension going overseas. Another thing is the security of your dollar account in a foreign bank. How quickly can you clean out your account if the government/country becomes unstable and you need to get out of dodge? And finally, Murphy's Law can and will affect your plans to permanently stay overseas and then the proverbial chit happens -- like a formal boyfriend/husband chasing you with a bolo knife!Watch your six my friend -- Jake

[i am bob]

Also think twice before you consider doing Direct Deposits of your U.S. Government pensions to your bank in the Philippines, because they only issue passbook type accounts without internet or ATM access.

I'm trying to translate this into "Canadian" and I'm not sure if the situations for us are the same... Are you saying that US Gov pensions are deposited in US $ rather than pesos and only to a US $ account?Sometimes I feel soooooo :89:

Hey Bob,You may get some advice to have your Canadian dollars (your pension) direct deposit to a Canadian dollar accountin a PI bank for the sake of convenience. Personally, I would not recommend it. For one thing, there may be somerestrictions from your government about your military pension going overseas. Another thing is the security of yourdollar account in a foreign bank. How quickly can you clean out your account if the government/country becomesunstable and you need to get out of dodge? And finally, Murphy's Law can and will affect your plans to permanentlystay overseas and then the proverbial chit happens -- like a formal boyfriend/husband chasing you with a bolo knife!Watch your six my friend -- Jake

Thanks guys!My situation is that I can have my Canadian military pension direct deposit from the government straight into a Philippine bank in pesos... I just wanted to clarify the above to find out if the situation was something that I needed to look out for if it didn't affect me... As to if I want all my pension going this way? I still have to look at my options on if I want to move money either one side to the other and if I can it reasonably or not. ie: Deposit pension into Canadian account and then transfer what I want here or get my pension here in pesos and then send back anything I don't need for savings... I can't do both and the bigger problem is some idiot in the banks back home decided that all Canadian $ will be converted to US$ before converting to another country's money... And we all know about the buy/sell rates on money!Enough to send a man to take all his money and just start :89: