Post Dated Checks

[Gandang Smile]

11 hours ago, Dave Hounddriver said:

Yes you can be charged with estafa for a check that bounces for any reason, including being post dated.  Been there done that but when the guy who issued the check has no money then it goes nowhere.  Those who cancel the check when they have money in the bank could be in for a surprise.

Exactly.

[Shady]

7 hours ago, OnMyWay said:

Peso CHECKING account.

Yes, a peso checking account is included with a dollar account when a US citizen opens a bank account in the PH because depositing US dollars into a peso account is restricted.

[Freebie]

According to people in the know its not that difficult to open a peso account on a tourist visa, you just have to find the " right" person in a bank.. there could be three banks side by side and you oculd be rejected in 2 out of the 3 but in the third, could be lucky. Always look for the manager or someone sitting at a desk.. never go to the counter clearks as they will just parrot the rules.

And of course if you said you would be depositing a good wad of notes as your initial deposit and would keep a high balance owing to etc etc etc...that might help to get things going. Or saying that you would be converting visa as soon as immigration open etc.. and if that doesnt work try the next bank... big smile, polite and courteous will often win the day.....but im sure you know that already.....

[Gandang Smile]

1 hour ago, baronapart said:

Thanks for the answers. Yes, I have noticed that rent prices have come down a lot. The problem is that they have made it more difficult to open a bank account in the Philippines on a tourist visa. I guess I can have my wife open one until I have my ducks in a row and can open an account myself. You would think that in the Capital area you would have some forward thinking landlords who would use more modern methods for rent collection. Sorry, just made myself chuckle.))

Bank transfers on a standing order (automatic execution every month) are actually possible. Even without automation, at least half of the Philippine banks including mine (Unionbank) have mobile apps that allow to make payments to other banks via at least two major payment gateways (see screen below).

I guess the postdated cheques is yet another one of those ancient traditions that stick around because people are more familiar with it, they have been doing it for ages. A paper cheque is something one can hold, as opposed to a future bank transaction which may magically appear...or not 

 

[Jollygoodfellow]

5 hours ago, baronapart said:

The problem is that they have made it more difficult to open a bank account in the Philippines on a tourist visa.

Try RCBC

[Shady]

13 hours ago, Gandang Smile said:

Bank transfers on a standing order (automatic execution every month) are actually possible. Even without automation, at least half of the Philippine banks including mine (Unionbank) have mobile apps that allow to make payments to other banks via at least two major payment gateways (see screen below).

 

Do those apps allow automated monthly payments?

 

[RBM]

On 11/28/2020 at 3:26 AM, Shady said:

I don't know a long-term expat who doesn't, renting a house or buying a house without a PH bank account (which include a peso account) isn't feasible.

Surprisingly the on line banking with BPI works extremely well, we use it all the time, other than for reasons  here I just cannot see an old fashioned cheque book being necessary.

[hk blues]

6 hours ago, Shady said:

 

Do those apps allow automated monthly payments?

 

I'm with BPI - their onlne banking app allows one time payments and regular payments which can be set to pay automatically according to whatever frequency you set.

[hk blues]

2 hours ago, RBM said:

Surprisingly the on line banking with BPI works extremely well, we use it all the time, other than for reasons  here I just cannot see an old fashioned cheque book being necessary.

Yes, but let's not forget that not all merchants allow online payment - Philhealth/BIR/My HOA being just examples. So, you may still need to pay be cheque if you cannot go in person.

 

[Gandang Smile]

8 hours ago, Shady said:

 

Do those apps allow automated monthly payments?

 

Yes, the Unionbank app allows what they call scheduled transfers. You can set up the amount, the frequency or day it will be executed.