Banks

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Posted

What bank do you boys use , which ones are the best, do you still use a English bank over here and just transfer, or even use a debit card, which way is the best way for you, i am trying to get things in order but asking for your advise  too,

Yes lots of questions again, and if it did get you down before answering WELL YOU SHOULD HAVE NOT READ IT , :mocking:

Thanking  you all already :)

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Posted (edited)

I am happy with BPI. You can open a sterling acc with them in UK and transfer money into that, they will then open a peso acc for you in PI you then transfer how much and whenever using internet banking into that acc which eradicates charges at the atm. Their ex rate is very good too. Google BPI Europe and you can get all the info you require, good luck.

I personally am keeping my UK bank account, better for an exit plan if needed!!

Edited by virginprune
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Posted

I'm still just transferring in money as needed for the month... Once things settle down, the near-future marriage certificate gets the "i"s crossed and the "t"s dotted, and we get someplace to live that we are happy with, then I'll think about opening an account in one of the local banks...

:D

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Posted

Steve in my opinion it really depends on your personal circumstances:

 

What we did was in 2 phases.

 

1st. When we were building our house and needed large sums we used Citibank US and had a Citibank Philippine account. We could electronically transfer large sums, then change the dollars into pesos, the deposit it in a peso account.

 

2nd. Now that we have a more stable month to month expense situation. We have one BPI dollar account and one BPI peso account. We keep a certain amount at all times in the dollar account and once every month or so we just deposit a dollar check on our bank in the states and wait the 20-30 days for it to clear.

 

Oh, we still have our account in the states where my pension is electronically deposited.

 

Might not be the best system, but it works for us,,,,,,,,,,,,,,,and the wife is happy with it so who am I to suggest changing it :thumbsup:

 

:cheersty:

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Posted

thanks again boys for such a quick response :thumbsup:

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Posted

I am happy with BPI. You can open a sterling acc with them in UK and transfer money into that, they will then open a peso acc for you in PI you then transfer how much and whenever using internet banking into that acc which eradicates charges at the atm. Their ex rate is very good too. Google BPI Europe and you can get all the info you require, good luck.

I personally am keeping my UK bank account, better for an exit plan if needed!!

 

We are also happy with our BPI branch for the same reasons (except with dollars).  Most comments about BPI are positive which is why I tried them first.  They are some kind of franchise operation so you might find some that are not so good.  

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Posted

 

I am happy with BPI. You can open a sterling acc with them in UK and transfer money into that, they will then open a peso acc for you in PI you then transfer how much and whenever using internet banking into that acc which eradicates charges at the atm. Their ex rate is very good too. Google BPI Europe and you can get all the info you require, good luck.

I personally am keeping my UK bank account, better for an exit plan if needed!!

 

We are also happy with our BPI branch for the same reasons (except with dollars).  Most comments about BPI are positive which is why I tried them first.  They are some kind of franchise operation so you might find some that are not so good.  

 

 

There is one downside with the franchising. If you go to close the account it can only be done at the branch where the account was created. That is the only issue I have found so far with the individual BPI banks being a franchise.

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Posted
If you go to close the account

 

Why would you need to?  In a similar situation my bank manager told me:  Don't bother, just withdraw all the funds you can via the ATM and the account will close by itself if you don't use it for 6 months.

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Posted

 

If you go to close the account

 

Why would you need to?  In a similar situation my bank manager told me:  Don't bother, just withdraw all the funds you can via the ATM and the account will close by itself if you don't use it for 6 months.

 

 

That is exactly what I have done. Though it has not been 6 months yet.

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Posted

I'm liking VirginPrune's method and sounds doable for me. Transfer from my regular UK bank to BPI Europe and then on to a BPI Peso account. Any idea what the requirements are once in Phil for opening the BPI Peso account taking into consideration that you'd already have a BPI Europe account? Would you still need an ACR and non-hotel address?

 

The reason I ask is because some landlords it seems require you to provide predated checks and the idea for me is to stay in a hotel for a month while looking for an apartment to rent but If I can't open a peso account because I don't have an ACR and/or residential address (obviously as I'd be looking for one) what would I do about pre-dated checks if it's a requirement of the landlord and I like the place? Would it be a case of relying on my UK account for that? I'd rather avoid that if at all possible but don't know whether there's a solution or not.

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