First Move To The Philippines

[scott h]

Brother, as a fellow Vet. (32 years Army) I really don't want to rain on your parade, but I am gonna mention a few things the others probably want to say. I really think you'll want to cool your jets a bit. By some of the questions you have been asking I really don't think you know what your in for. I myself did over 2 years of research and multiple visits before my wife (a Filipina) and I made the final move.

 

1. Air Transport. You mentioned a one way ticket I believe. If you buy a OWT you probably wont even be allowed to board the plane. Best bet is to buy a round trip (refundable if possible, or at least date adjusted) so you have an escape plan if things go wrong. If you do not want to do that, you will need to buy what is known as a throw away ticket. This is to show that you plan on leaving the country, since you will most likely becoming on a tourist visa. I have found throw away tickets for $50 or less. With out one of those two options you most likely won't even be allowed to board the plane.

 

2. Money. The amount you mentioned as a monthly income should be enough to live a comfortable lifestyle almost anywhere in the country. (providing you are not a complete party animal lolololol) There are many posts you can search that address the cost of living just remember the old acronym (TANSTAAFL) "There aint no such thing as a free lunch". There are some hidden expenses living here. Visa renewels, phone load, stuff like that. Living here is like most places 1st and last rent, deposits for phone, electricity, water all that crap. And just like anyplace else you will want a sizable nest egg, most likely at least 6 month of your average income (at a minimum IMHO) Plus a high limit credit card in case of serious emergencys...........................I'll give you an example just to show what it is like. If (gawd forbid) you are admitted to a hospital, even though it is not supposed to happen anymore, you might not be allowed to leave the hospital until the bill is paid in full.

 

Places to stay. You will most likely end up staying at an apartlette for a day or so upon arrival. These are the Phil version of a motel 6. about 12-20 bucks a night until you look around and find a place to your liking. You will really want to look at the surrounding neighborhoods of anyplace you finally settle down. Most places don't advertise online so you will most likely have to find a place the old fashioned way....walk lol.

 

Charger, I really don't want to come off as Mr. negativity. This is a great place to live. But if you just hop on a plane and think its just like moving from San Diego to Norfolk things will most likely end badly.

 

I suggest you do a lot of research, save your money and build up a good solid nest egg. Get your self really prepared and start your new life here in style...good luck and just keep asking,,,guys here will help as much as they can.

[Jack Peterson]

Morning Guys and Gals and a special hello and Good morning to you 06, i am putting this here, as there are now quite a few of your topics running and :hystery: knowing me, I will get the wrong one :unsure:  so as this is about money, here I will try :)

 

All through your topics, I believe you are getting 100% Help, Advice and encouragement. There are always going to be a couple of Negative things but best you know now, rather than tell us woe and misery, in a couple of months time.

 

From me, I would like to ask a couple of Questions related to what has already been said. OK, so now, you have money, enough you say, to get you here and see you through the First month or so. What, can I ask, happens after that? Did you make sure, some more money comes next month :thumbsup:

 

Where does your money come from? ( In what Form? [cheque/direct transfer])

Where is paid into ( USA Bank, Foreign Bank?)

How do you draw (ATM?)

 

I am not being nosy or wish to pry but before you come, you will need to address this issue.

 

No good sitting having a Coffee :morning1: / Beer :cheers: with the lads at the end of the month saying ahh it's OK, my Pension is due soon so if you get this round, I will pay next time. If the Homework has not been Done. there won't be a next time.

 

If you don't have a Big nest egg to bring (and it sounds like you don't) the Quicker you act, will be better for your well being and most Certainly your peace of mind.

 

 

I hope you are understanding my meaning here? You need to ensure that who ever pays you, needs to know where you are going, but more importantly when. Will you need a new bank Account?

 

Now I know of a lot of guys, that are paid into home Country banks, and draw on ATM OK that s Fine I guess in a Short term. but if you are out of Your own Country and use a foreign Bank to receive your money well, it could take some time to reorganize things.

 

Postal Systems here are Well, not to good, to say the Least. So my Friend, you really do need to ensure that your covered from all Angles. Before you come, I urge you to ensure that your Pension/Disability allowance Follows you ASAP.

 

Now 06, I don't think this is Negative Thinking from me but a definite Positive thing, you must do before you go out and buy that ticket

 

Bon Voyage my Friend.

 

 

 

:tiphat:

 

 

 

 

[robert k]

One might think internet is a luxury that you can live without but in my case, had I not checked my e-mail my ATM card would have been put on hold until I answered that it was really me using it in the Philippines. This after informing my bank on two occasions in person that I was travelling to the Philippines. I also booked a room using Agoda and the billing was from the UK, which prompted another e-mail from my bank which If I did not respond, they would have cancelled the room because obviously by now, they knew I was in the Philippines. LOL.

 

If you intend using a card at ATMs, make sure you have one that will work with most Philippine banks, I was shocked that my JP Morgan/Chase card only worked with China Bank and Allied Bank and even had to travel to another province one time to withdraw cash. It would be much better if your card company worked with BPI and BDO. It's more fun in the Philippines. :)

[06charger]

I receive 80% disability from the VA. I also have a US bank account that is good intwrnationally. I appreciate all the good advice. As of now I'm actually living in Moldova (Eastern Europe), with my wife at her mothers. I just need to escape asap. I have a good monthly income bit just no nest egg. Its frustrating because I really want to cross that line.

[Jack Peterson]

because obviously by now, they knew I was in the Philippines.

 

 

Odd, you should bring this up now Robert,  About 18 months ago, my UK bank (My branch was Offshore in Gibraltar) contacted me by email at first, To get me to send them Proof of Address, this they said was to ensure that their records were to to date ???( How strange I thought, I have not notified them of Changes) I got a Surface mail about 6/7 weeks later telling me that new Rules were in Place and each client had to  provide proof of Address at certain times. The second paragraph was to inform me, that it was a condition of holding an account with them and as I was as a private account Holder, I should be resident in the UK or in my case in Gibraltar, If I could not do this by a certain date, my account would be suspended and my Visa debit card and Credit Card would not be honoured. i could hardly lie when they Phoned to ask where I was, they had my phone number +63 so they knew exactly where I was.( I gave my PI number for Emergencies. (that was from the Internet banking service conditions)

 

It was my Intention, to have all my pensions, paid into this account on my Retirement. and run out on withdrawals at ATM's now as my pensionable age was looming. Decisions had to be made. I either got Mickey mouse Addresses in the UK and hoped for the best or came Clean and admitted I was now living in the Philippines. they gave me 3 months grace to get sorted out.

 

Not wanting to take risks with pensions and the UK  Government knowing, where I was (there is a strong social insurance Agreement in Force) They Urged me to get a local PI bank and all will be well.  I did this with PNB and to date, no problem. My money goes into PNB at the same time each month ( Subject to holidays then maybe 2 days late) the rate I got this month, was 73.04 peso to the Pound.

 

All in All I think i did the right thing.

 

Living in the PI and having an own country Bank account is OK, as long as there are no problems. You can never tell what the banks will do and lets face it, unless you have a stash of Peso hidden at home, if the bank or card issuer decide to suspend your cards and account for non compliance.

 

"You are up Swanee, with no paddle" and no rice"  :unsure:

 

 

 

:tiphat:

[jon1]

Like the others said, you will have to notify your bank that you will be in the RP using your ATM or Credit Card. Otherwise you will hit road blocks and end up with your card on hold or cancelled. 

 

When using the ATM machines, you are typically charged a local bank fee (around 200p), plus international transaction fee and finally a conversion fee. The last two are charged by your bank in the US. I have heard that USAA refunds their fees. Also, most ATMs have a transaction limit of 10,000 or 20,000p. 

 

I understand your urgency to get out but I do not think that it is wise to come without some kind of nest egg. I agree with the others to get a round trip ticket with a changeable date option for the follow on trip. It is a wise investment towards an emergency departure from the RP. Also the Credit Card to cover a hospital bill is a must.

 

A VOIP phone comes in handy when contacting your US Bank for issues (there will be no matter how many times you notify them in advance).

Edited June 3, 2014 by jon1

[Jack Peterson]

Like the others said, you will have to notify your bank that you will be in the RP using your ATM or Credit Card.

 

 

Just as a follow on and not just, for this OP, I came across this snippet and thought it may be useful to others as well.

 

http://www.smartrelocationguide.com/blog/should-you-keep-your-bank-account-when-you-move-abroad/

 

 

:tiphat:

[pokermike]

I am not an expert like you guys that are living there , but i have been there too many times , I am guessing around 10 times. the thing i do notice is that every time , of course costs are going up on everything.

 

Everyone is correct about credit cards also they are quick to freeze them if you do not stay in contact with your bank. I also have had problems with bank transfers not being completed in a timely manner. My bank transfers were just a practive move for me to see how things were going to work, its not easy every bank different. The thing i know for sure is the nest egg. i will never be caught short always arrive with just under $10,000 US , over $10,000 have to report. Plus have a big credit line on your cards in case a hospital visit pops up.

 

i dont think you should ever step foot on another countries soil and have to worry about money/

 

I dont want to be negative , i just just play well and like to  increase my chances of winning. In poker it is better to enter with a strong hand , if i was playing your hand i would wait longer and gather more funds.  pokermike

[AnnieLopez]

i would say around $1500, plus emergency.

[rfhypnos]

I am considering a move to Bohol and settling down with my gf who is from there.  I have been to the Philippines 4 times now and been to most of the islands except Bohol and Mindanao.   My longest stay was 5 months traveling around the country.  I am Navy retired and have social security so comfortable financially with a good nest egg of $50,000 ......but I have a medical problem that will require some follow up and I hear that Tricare has not been a good system for vets there.  The biggest question I have is what to do with the $1100 I am paying Medicare if it's not going to be paying for any medical care.  Can I just discontinue it.???  It certainly would be a nice addition to income.