Cebu bank, EUR tourist acr

[Patryk]

Hi,

 

I am wondering if some of your managed to open bank account in Cebu on tourist ACR card? I can also provide rental contract but that would be it, I want to open account in euro (this is compulsory) and peso and I am aware I need to find "right" branch which will allow me to do it. I am thinking about BDO or BPI, but i guess i will be happy with anything which is relatively safe. 

 

Do you also know how long this proces can take, I think I will need also to deposit some euros to be able to open account? I am assuming these banks use Swift? Thanks a lot 

[Dave Hounddriver]

9 minutes ago, Patryk said:

I am wondering if some of your managed to open bank account in Cebu on tourist ACR card?

In the past I did it quite a few times.  In each case I went directly to the manager and explained that I was staying a long time and had a lot of money I needed to transfer safely to his bank (act important, even if you are not).  It also helped if I name-dropped another expat who was well known to the manager and also a customer there.  Going through anyone other than the manager never worked for me.  Best of luck.

EDIT:  I also picked smaller, (but still major), banks where the manager was not so busy and was hungry to increase business.  I have heard it is harder to do that these days.

Edited March 4, 2023 by Dave Hounddriver

[Patryk]

16 minutes ago, Dave Hounddriver said:

In the past I did it quite a few times.  In each case I went directly to the manager and explained that I was staying a long time and had a lot of money I needed to transfer safely to his bank (act important, even if you are not).  It also helped if I name-dropped another expat who was well known to the manager and also a customer there.  Going through anyone other than the manager never worked for me.  Best of luck.

EDIT:  I also picked smaller, (but still major), banks where the manager was not so busy and was hungry to increase business.  I have heard it is harder to do that these days.

So it will be my time to say "I would like to speak to manager"  

[Jollygoodfellow]

2 hours ago, Patryk said:

but i guess i will be happy with anything which is relatively safe. 

All banks have a 500k compulsory guarantee and that's it. Dont know about the euro but RCBC in the IT park used to open accounts on a tourist visa so probably still do.

[hk blues]

4 hours ago, Patryk said:

Hi,

 

I am wondering if some of your managed to open bank account in Cebu on tourist ACR card? I can also provide rental contract but that would be it, I want to open account in euro (this is compulsory) and peso and I am aware I need to find "right" branch which will allow me to do it. I am thinking about BDO or BPI, but i guess i will be happy with anything which is relatively safe. 

 

Do you also know how long this proces can take, I think I will need also to deposit some euros to be able to open account? I am assuming these banks use Swift? Thanks a lot 

The Euro requirement may be a limiting factor - here in Iloilo only one BPI branch offers GBP accounts so non-USD accounts aren't necessarily the norm.

Is there any specific reason why it has to be Euro denomination account? 

[Patryk]

1 minute ago, hk blues said:

The Euro requirement may be a limiting factor - here in Iloilo only one BPI branch offers GBP accounts so non-USD accounts aren't necessarily the norm.

Is there any specific reason why it has to be Euro denomination account? 

yeah, I have a job that pays in euros (seagoing). I must have bank account in country I am living in -as I moved to PH they won't accept any other country account

2 hours ago, Jollygoodfellow said:

All banks have a 500k compulsory guarantee and that's it. Dont know about the euro but RCBC in the IT park used to open accounts on a tourist visa so probably still do.

noted, with thanks

[Mike J]

13 hours ago, Patryk said:

yeah, I have a job that pays in euros (seagoing). I must have bank account in country I am living in -as I moved to PH they won't accept any other country account

15 hours ago, Jollygoodfellow said:

Google "which Philippine banks offer euro accounts".

You will find several large banks listed.

[Gator]

18 hours ago, Patryk said:

I must have bank account in country I am living in -as I moved to PH they won't accept any other country account

If you have that or can get it in writing, then bring it with you when you go to the bank. Since it’s an “official document” it might help. They love official documents here; especially if they have lots of stamps, seals and big signatures! 

[Patryk]

48 minutes ago, Gator said:

If you have that or can get it in writing, then bring it with you when you go to the bank. Since it’s an “official document” it might help. They love official documents here; especially if they have lots of stamps, seals and big signatures! 

That's amazing idea, I will try this in few days

[hk blues]

On 3/4/2023 at 5:11 PM, Patryk said:

yeah, I have a job that pays in euros (seagoing). I must have bank account in country I am living in -as I moved to PH they won't accept any other country account

I understand the need to have a bank account here, but less so why it has to be in Euros IF it becomes a limiting factor in getting an account.  I have a Peso account and when I send GBP to it it is automatically converted to Pesos.  

Wouldn't that work for you?