Nickleback99 Posted July 7, 2019 Posted July 7, 2019 9 hours ago, OnMyWay said: . I'm confused by your screenshot. Right now, Transferwise only shows $8.66 in fees and their exchange rate is about the same as the XE mid market rate. Yeah, I can't figure it out either. I'll trust you and Dave to know lot more than I do about it all. Figure if we make it down to San Diego before we leave here, we'll try the BPI there to open an account ahead of time as well as bring fair amt cash when we travel . Lots to get figured out on all of this. Link to comment Share on other sites More sharing options...
Nickleback99 Posted July 7, 2019 Posted July 7, 2019 10 hours ago, Dave Hounddriver said: I use it. I like it. Everyone who uses a different service swears theirs is better so I gave up trying to convince people of the merits of one method over another. Everyone has to compare for themselves. To answer your specific question, Transferwise has a variety of different fees and exchange rates. This gets us back to: I like it but you may not and you won't know unless you try it. Thanks Dave. All the fees, rates, etc make my old Jarhead spin. I'll trust you all to know the drill far better than I; so, appreciate the input and guidance. 1 Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted July 7, 2019 Posted July 7, 2019 14 minutes ago, Nickleback99 said: Thanks Dave. All the fees, rates, etc make my old Jarhead spin. Another which I personally consider good is Worldremit . 1 1 Link to comment Share on other sites More sharing options...
bastonjock Posted July 7, 2019 Posted July 7, 2019 Has anyone ever tried to send money back to either the UK or the USA ? 1 Link to comment Share on other sites More sharing options...
Gary D Posted July 7, 2019 Posted July 7, 2019 59 minutes ago, bastonjock said: Has anyone ever tried to send money back to either the UK or the USA ? To the UK you would probably have to change your pesos to dollars then to £ once in the UK. 1 Link to comment Share on other sites More sharing options...
bob1965 Posted July 7, 2019 Posted July 7, 2019 Transferwise has different fees based on how you pay. Debit card vs direct debit vs credit card. That’s probably why you see the $2 difference. I don’t know if they’re the best, but I have used them several times and like them. 2 Link to comment Share on other sites More sharing options...
sonjack2847 Posted July 7, 2019 Posted July 7, 2019 (edited) On 7/3/2019 at 2:22 PM, Clermont said: Another reason for keeping your money overseas, death duties, yes the government freezes the bank account until death duties are paid. Here in Oz, no death duties, easy access to money transfer from home to PI's, 1 hr generally and like USA, we have a bank guarantee on our money. Does your wife, as an expat wife, still have to pay death duties if you own nothing. Edited July 7, 2019 by sonjack2847 Link to comment Share on other sites More sharing options...
Forum Support Tommy T. Posted July 7, 2019 Forum Support Posted July 7, 2019 (edited) 4 hours ago, bastonjock said: Has anyone ever tried to send money back to either the UK or the USA ? Yeah, I sent back a significant amount - the proceeds from the sale of my yacht. In retrospect, it was a stupid idea to send it all in one lump sum, but I was still a bit ignorant about the talked-about non-security of the banking system here. However, it all arrived safe and sound. I had U.S. dollars in the dollar account at my bank here in Davao. They had no clue how to send a transfer to USA, but checked with their head office in Makati (PNB) and got the correct answers. The personnel at this branch are always very polite, not always efficient, but they are always trying there best and making good efforts and eventually always get things right. They just did an international wire transfer - no problem. The most important thing was to get all the correct information from me here (address, phone, name, etc.), and there (bank name, SWIFT code, address, phone, etc.).I also took one extra step and contacted the U.S. bank to advise them that there was a wire transfer incoming and they actually said they would watch for it in my account. Great service on both ends. It took about 5 days, start to finish.Of course there was a fee and I believe it was $25 - but that was cheap considering the size of the transfer... I should also mention that, every time I visit this branch, for any service whatsoever, I never take a number but just sit down with one of the bank officers at his/her desk. Someone asks if I want water - which they bring in a clean glass on a small plate - and offer me some candy and also a newspaper to look at if I have to wait. I don't ever go to a teller to collect or deposit cash. So professional! It is one of the best experiences I have had in any bank anywhere! Edited July 7, 2019 by Tommy T. 2 Link to comment Share on other sites More sharing options...
fototek1 Posted July 8, 2019 Posted July 8, 2019 If you open a Metro Bank account in the Philippines you can transfer money to Metro Bank in the US with the US routing # and then have it go directly to your Philippines bank account. If you need more details and the US routing # let me know and i will get all of the info needed. Basically, if you are sending a large amount of money (more than $2000) you need to appear in person. If you are doing a transfer of less money from one bank to Metro the fee is $8. If you happen to have a USD Philippine account with Metro Bank you can receive USD in your account. If you have a peso account the rate exchanged is .35 less than the rate posted on the Metro Bank site https://www.metrobank.com.ph/ 3 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted July 8, 2019 Posted July 8, 2019 2 hours ago, Tommy T. said: They had no clue how to send a transfer to USA, but checked with their head office in Makati (PNB) and got the correct answers. I researched this before and remember reading that they would only allow a person to send a transfer to the USA of an amount less than or equal to money they had previously sent to the Philippines. Did that come up? I suspect this is either to collect tax on any profit or to prevent money laundering or just to prevent US dollars leaving the Philippines. 2 Link to comment Share on other sites More sharing options...
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