Opening A Bank Account But I'm Not In Pi As Yet

[wayneseymour]

I wondering if it is possible to open a saving account in PI although I'm not there as yet . I know it can be done with some banks in other countries,

[OnMyWay]

I have not completed the process, but BPI asks if you are located inside or outside the Philippines when you fill in the enrollment forms online, so I assume it can be done. Here is a picture from the enrollment screen.

[Call me bubba]

NO it cant be done, only exception I am aware and seen, Was done at the BPI remittance office(not in the RP),

the account was filled out.sent to Manila(branch near their home) Card was picked up there, tho this was several years ago,

[Mike from BDA]

I bank with HSBC Bermuda and I asked them this question as well because I still want to mainitain my accounts at home. HSBC has a Global View platform that allows you to have accounts in multiple currencies. I am being told that there are branches of HSBC in the Philppines that would make this possible. I havent done it as yet but will let you know if I was successful in doing so.

[billten]

I bank with HSBC Bermuda and I asked them this question as well because I still want to mainitain my accounts at home. HSBC has a Global View platform that allows you to have accounts in multiple currencies. I am being told that there are branches of HSBC in the Philppines that would make this possible. I havent done it as yet but will let you know if I was successful in doing so.

Sorry to say Mike, IME HSBC is terrible in the Phil's and is also in the process of closing all its branches here. I banked with HSBC fro 15 years in Canada and Hong Kong, when i moved here they just said "we are a different bank sir, sorry"

[Mike from BDA]

I bank with HSBC Bermuda and I asked them this question as well because I still want to mainitain my accounts at home. HSBC has a Global View platform that allows you to have accounts in multiple currencies. I am being told that there are branches of HSBC in the Philppines that would make this possible. I havent done it as yet but will let you know if I was successful in doing so.

Sorry to say Mike, IME HSBC is terrible in the Phil's and is also in the process of closing all its branches here. I banked with HSBC fro 15 years in Canada and Hong Kong, when i moved here they just said "we are a different bank sir, sorry"

yes..thanks I am not a big fan of HSBC either. They came into Bermua about 6 years ago and bought out the Bank of Berrmuda...since then our island has been in staedy decline...but thats another story. I was thinking i would still maintain an account with them here in Bermuda just for expediency since they have branches in the Philippines. I was not aware that the branches there were about to close so may have the rethink that strategy now. I will be going in to speak with my local representative soon. In any event i have already had my Filapina girlfriend open an account at MetroBank for use locally. I really just want to use my HSBC peso account to hold cash when the forex rates are favourable ....or for time deposits. We will see...thanks for sharing your experience.

Peace

Edited July 29, 2012 by Mike from BDA

[billten]

In any event i have already had my Filapina girlfriend open an account at MetroBank for use locally.

|I use MetroBank also, i would highly recommend them, they have been really accommodating for me. Also, Metrobank is one of only 3 or 4 Philippine banks that use the international banking standards as their rules and as such they have a favourable relationship with the wire transfer services and such. My experience is that they are some of the fastest for getting money into the country. Just FYI, I wire transfer from Singapore and the $ is there the next day.

I keep a US $ account and a peso account, it allows me to transfer directly in US$ and them take the $ out to shop around for the best exchange rate i can get OTC.

[moparsquid]

HI, I opened an account with LBP land bank while i was there ,also i was told that wells fargo has a account you can open and access there in the philippines. PNB is another popular bank in the pi and i was told you could open a branch (well for me) in los angeles poibly coz the pi counsulate is there. good luck.

[Markham]

I bank with HSBC Bermuda and I asked them this question as well because I still want to mainitain my accounts at home. HSBC has a Global View platform that allows you to have accounts in multiple currencies. I am being told that there are branches of HSBC in the Philppines that would make this possible. I havent done it as yet but will let you know if I was successful in doing so.

Sorry to say Mike, IME HSBC is terrible in the Phil's and is also in the process of closing all its branches here. I banked with HSBC fro 15 years in Canada and Hong Kong, when i moved here they just said "we are a different bank sir, sorry"

I'm not sure where your information came from but it's not entirely correct. HSBC has two distinct sets of branches, one of which it inherited and ran as HSBC Savings and it is true that some of those branches have either closed - as the branch on AS Fortuna has - or will do so (but they're all in Manila). Its branches in Manila/Makati, Cebu and Davao are remaining open and, I'm told, expanding.

I've been a HSBC customer for about 8 years and my "master accounts" are all in the UK. As I can transfer money online between the UK and Phils immediately and free of charge, it makes sense to me to keep the bulk of my money outside the country - and it gets around the ridiculous PDIC limit of 500,000 Pesos per account holder.

I too have heard good things about Metrobank and were I to switch banks, that bank would be a likely choice.

[Mike S]

HSBC in the US will not let you transfer between a US account and a Philippine account ..... I know I have both ..... you can however get a Premier account for about $100,000 US or p4,200,000 Phil. ...... that is the only account that will allow you to transfer directly from the US HSBC to the Phils HSBC Bank (not the savings I don't think) and you must maintain a balance of your deposit ...... but like I said I'm a poor boy so I ain't gots no $100,000 US or p4,200,000 Phil. extra laying around ..... there are some Philippine banks operating in the US that you can open an account there and they will transfer the info to their branch here but they are few and far between .... I was looking into it before I moved here but there were none in my neck of the woods .... or with in a 5 state area ...... just not worth the hassle ..... IMHO