Mike S Posted May 30, 2012 Posted May 30, 2012 You know JJR .... I have mixed feelings about all this secrecy in banking laws ..... what's to prevent someone from doing just what he did ..... stashing away monies from ill gotten gains and no one can touch you ..... in the US if you cash a check (other than a business check) in a bank for more than $3000 they tell you right up front it is going to be reported ..... I know ..... i sold a bass boat one time and had to sign a paper stating what the check was for and they put a hold on the guys account for 3 days .... There has to be a happy medium somehow ..... other wise crooks are going to get away with stealing millions ...... 1 Link to comment Share on other sites More sharing options...
Adventurer Posted May 30, 2012 Posted May 30, 2012 (edited) I better get my engagement & wedding rings tomorrow from the USA online before the Aussie dollar drops any further. I'm happy though as I make money in the USA so its a double edged sword for me right now with some things to buy online plus my ticket back to the Philippines. prices have dramatically risen in last week... Edited May 30, 2012 by Adventurer 2 Link to comment Share on other sites More sharing options...
JJReyes Posted May 30, 2012 Posted May 30, 2012 (edited) There has to be a happy medium somehow ..... other wise crooks are going to get away with stealing millions ...... Bank secrecy laws does not protect you against the prying eyes of your own government. The protection is against inquiries by other governments. If you are a Filipino was a US bank account, it would be very difficult for the Philippine government to access the information unless they can submit proof that the money was illegally obtained. This requires the approval of a US federal court judge, who will examine any evidence presented with suspicion. I can't recall a single case wherein a foreign government received approval from a federal judge. The exception is when the US government submits the request on behalf of a foreign government. Edited May 30, 2012 by JJR Link to comment Share on other sites More sharing options...
Call me bubba Posted May 31, 2012 Posted May 31, 2012 (edited) Latest update is the European Central Bank will print money to bail out banks in Greece, Spain, Portugal, Ireland, Italy, etc. to the tune two trillion Euros. The global money is moving towards the US dollar as a safe haven. I was wondering why the USD was getting stronger vs the PHP in the last few weeks. actually the USD has gotten much stronger against the Euro from 1.32 on (1 may) to1.24 (29 may) than the Peso(Php) has but for those who live here the small increase is helpful who knows it may get up to 44php, ,, WILL it stay strong? who knows???. Euro to Peso 55.84(1 may) 54.03 (29may) USD to peso 42.19(1 may) 43.26 (29may) (from yahoo) Edited May 31, 2012 by Call me Bubba Link to comment Share on other sites More sharing options...
JJReyes Posted May 31, 2012 Posted May 31, 2012 actually the USD has gotten much stronger against the Euro from 1.32 on (1 may) to1.24 (29 may) than the Peso(Php) has but for those who live here the small increase is helpful who knows it may get up to 44php, ,, WILL it stay strong? who knows???. It might be closer to PHP 45 to USD 1 by the end of this year, according to currency projections released last January.The sentiment is a stronger US dollar during the next six months. While the Spanish government claims there are no bank runs, jittery depositors have been moving money from Spanish banks to overseas locations. US banks are not permitted to accept deposits except in US currency. So, if you want the United States as a safe haven for your money, you need to convert to dollars. Link to comment Share on other sites More sharing options...
Jack Peterson Posted May 31, 2012 Posted May 31, 2012 :unsure: I guess then, I am better bringing initial cash in dollars at the end of the month instead of € or £. I can never seem to find an ATM anywhere in arrivals, is there one ? Pesos are not readily available here in Spain which Surprise me, with the amount of Filipinos we have here. BTW what is the Peso to The $ just now. if I can ask? Jack P. :tiphat: Link to comment Share on other sites More sharing options...
earthdome Posted May 31, 2012 Posted May 31, 2012 BTW what is the Peso to The $ just now. if I can ask? Easy to find, just search the internet with the phrase "USDPHP", I expect you could do "GBPPHP" for the British Pound or "AUDPHP" for the Aussie dollar. Link to comment Share on other sites More sharing options...
JJReyes Posted May 31, 2012 Posted May 31, 2012 I can never seem to find an ATM anywhere in arrivals, is there one? Bring some cash in US dollars for your immediate needs. There are bank owned foreign exchange booths located after clearing Customs. On weekends, you can go to a money changer at one of the larger shopping malls. Ask a security guard. Some money changers are not listed in the mall directory because they sub-lease space from a larger shop. For small amounts, convenience is more important than the exchange rate. For large amounts, go to a commercial bank. The Central Bank of the Philippines (Bangko Sentrale ng Pilipinas) determines the day's interbank exchange around 11:00am. Banks are like brokers. They make money on the spread (commission). Before 11:00am, the banks will quote you a less favorable rate to lower their exposure to risk. Note that some banks may even give you a slighly better exchange rate if the amount is large. Tellers have no authority. They will just say, "No." I would normally request for the branch manager or assistant manager. On average, the slightly better exchange rate pays for my lunch or dinner. By the way, I never pay with a credit card in the Phiippines. You can negotiate better prices, including for hotel rooms, by asking if there is a discount when paying in cash. Credit card companies give you a lousy exchange rate plus most now charge a 3% "foreign currency transaction" fee. Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted June 1, 2012 Author Posted June 1, 2012 BTW what is the Peso to The $ just now. if I can ask? http://www.xe.com/ucc/convert/?Amount=1&From=PHP&To=USD 1 Link to comment Share on other sites More sharing options...
wayneseymour Posted August 3, 2012 Posted August 3, 2012 OK, what is going on now? It has been a downward trend this week. Was going to send a large chunk of money but was hoping for at least 43 to 1. As of today it is 42.06 Peso to 1 USD? I keep a daikly track using: http://www.xe.com/ucc/ OK, what is going on now? It has been a downward trend this week. Was going to send a large chunk of money but was hoping for at least 43 to 1. As of today it is 42.06 Peso to 1 USD? I keep a daikly track using: http://www.xe.com/ucc/ Link to comment Share on other sites More sharing options...
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