Best Bank?

[Mike J]

26 minutes ago, longway said:

Back to the original question, I am looking at making an SSRV deposit, from the banks that ARE ACCREDITED for this deposit which would you would reccomend as better than the others and why? Maybe all are equal?

I would check to see which is paying the highest dividend on your deposit and that the bank is convenient.

Edited December 13, 2022 by Mike J

[Freebie]

7 hours ago, Dave Hounddriver said:

Freebie has said BPI is not accredited and then goes on to say it is one of the best choices. 

BPI isnt accredited with PRA... however within the environment of banks in the Philippines its one of the better ones. 

 

16 hours ago, hk blues said:

Doesnt mean they are good or have good nationwide coverage. BPI is not accredited and yet is the second largest bank in Philippines and is generally good

I think that statement tried to clarify why I was talking about BPI. Probably my error....

[Possum]

I used DBP which is accredited, BDO is also. Interest is minuscule. I have been very happy with my SRRV and James who handles my SRRV matters. I realized from the beginning I was buying a visa and paying an annual fee to maintain it. 13A didn't appeal to me and visitor visa gave me no rights and was a hassle when they would only extend 60 days.

[hk blues]

6 hours ago, Jollygoodfellow said:

I think most did not read or understand the OP question which he has posted again.  

I read and understood the post.

Than happily ignored what I had read and understood and answered something completely different! 

[Snowy79]

The PRA are the ones that control your account so I don't think it matters. I've been attempting to get my surplus deposit since March 2022 and the only stumbling block has been the PRA and their usual government efficiency. 

[RBM]

On 12/13/2022 at 5:24 PM, Freebie said:

PRA accredits some banks because of ease of doing business with them. Doesnt mean they are good or have good nationwide coverage. BPI is not accfedited and yet is the second largest bank in Philippines and is generally good.  Their credit card fraud team is good as my card has been cloned 3 times and 3 times they have respnded very quickly. Their online banking is good, ATMS alll over and through BPI can also set up BPI trade account if interested in local stocks.

Forget Landbank which is a govt owned bank ( accredited by PRA ).

Basically the choice comes down to BDO or BPI ( in my opinoin )

We have next to no hassle BPI, was a few hoops to jump through when opening the trading account but once done all good. The on line banking is simple and very efficient, no complaints at all.

[hk blues]

3 hours ago, RBM said:

We have next to no hassle BPI, was a few hoops to jump through when opening the trading account but once done all good. The on line banking is simple and very efficient, no complaints at all.

My only issue with BPI is with the specific branch we tended to use, but otherwise I'd agree.  They are not as bad as Metrobank with junk emails either.

[Sheriff2144]

Thankyou all for your answers,

Yes, my original question was best bank re the SRRV however, realising that the money in that account cannot be touched, the other replies have helped in regards to everyday banking, so all answers have been relevant. I like the 2 account suggestion for redundancy.

Thanks again :)

[Tommy T.]

On 12/13/2022 at 12:47 PM, Sheriff2144 said:

Hi Everyone,

Out of all the PRA accredited banks you need to use when retiring in the Philippines, Which one/s have you found to be the best or are the all pretty much the same?

Cheers.

Just to add to the list... I placed my SRRV deposit in PNB with no issues whatsoever. In addition, they offer good ATM cards. However, I see that BDO and some others are much more friendly and useable when it comes to making payments to various utilities. PNB can do many, but not all - at least not easily online. I agree with some above remarks that accessibility - is there a branch close and convenient? - is important. I have found, so far, that even though I have accounts at one branch of PNB, I cannot really deal with them from any other branch, even though it is the same bank. I wonder if all the other banks are the same? In other words, I must always go to the office where I opened my accounts in order to add, subtract or transact with those accounts. This is a bit frustrating...

 

 

Edited December 15, 2022 by Tommy T.

[hk blues]

1 hour ago, Tommy T. said:

Just to add to the list... I placed my SRRV deposit in PNB with no issues whatsoever. In addition, they offer good ATM cards. However, I see that BDO and some others are much more friendly and useable when it comes to making payments to various utilities. PNB can do many, but not all - at least not easily online. I agree with some above remarks that accessibility - is there a branch close and convenient? - is important. I have found, so far, that even though I have accounts at one branch of PNB, I cannot really deal with them from any other branch, even though it is the same bank. I wonder if all the other banks are the same? In other words, I must always go to the office where I opened my accounts in order to add, subtract or transact with those accounts. This is a bit frustrating...

 

 

I have the same issue with Metrobank but they have been flexible in the past regarding making small withdrawals i.e. 20K to 50K in another branch but they do make a quick call to verify whatever they need to.