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Verne

Bank recommendations?

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Hi All,

I have read through many of the threads but no conclusion.  I will eventually move fully into the Philippines but have not decided where.  I plan to put feet on the ground in the Clark area for a variety of reasons as a good jump off exploration point.  My wife is from Bagiou.  I am American paid and employed out of Singapore from an American company as we don't have an entity in the Philipines..  Currently my pay is deposited in a USA bank in Sing dollars and I am charged a wire transfer fee every pay day and of course the exchange rates.

I also note that foreigners can't get an account, or can do so with difficulty?  My plan is for the Philippine bank to be a secondary local bank with my wife.  Can we open a joint account?  We could use her parents home address in Bagiou if we need ..I think.  We currently live in Cambodia and are trying to work out the details to move.  Do we need an account to rent a place in Phil?  Buy a car?

Thanks,

V

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A lot will depend on which bank branch you use, and who's working that day. They don't seem to know the rules very well. Will you come in on a tourist visa, or on a balikbayan with your wife?

They normally want to see the iCard, which would come on your 2nd renewal - but not all accept tourist iCards. 

I use Security Bank here who don't seem to ask too many questions, but when I was still on tourist nobody wanted me...

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I will come in on a tourist as she is going in alone this weekend, I need to go to Singapore then plan to fly from there to Clark as possible. next week or the week following.  She has been scouting Maybank and it apparently has a branch in Clark or Angeles.

Yea, I have seen some things about needing to be in country for a while for many things.

Thanks,

V

 

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I was able to open savings accounts with both BDO and BPI. At both I was asked for an ACR-i card. 

Both were straightforward to open and both have an online banking facility. I have found BDO more user friendly as an expat. My transfers to my BDO account from the UK invariably arrive the next business day which I think is as good as it gets!

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