what is a good bank to open an account in philippines??
what is a good bank to open an account in philippines??
BPI
Depends on your visa status as to what banks will allow you an account or not. I know HSBC accomodates foreigners.
Bank of Philippine Islands is a good Bank and accessable from large stores like SM&NCCC For me they required a letter from my Bank in Australia verifing that i have a legimate account in the Branch i stated. In the Phil they have strong money laundering laws that there Banks must follow but procedures varies between Banks.
Thank you guys...
For international banks - Citi or HSBC. For local, BPI or BDO. Both should have USD and Peso accounts.
I opened a AU$ a/c but when i found how much both Banks charged in fees i will close it first chance i get . Close to AU$40 every transaction. Much cheaper to use Companies like Orbit Remit or LBC which charge only $8/transaction to transfer your $ into a PHP a/c. These companies pay a very good exchange rate not like some American companies.
I dont pay any extra fees with Citi and keep min balance. Have acct in Phil, Sg and US. Metro and BPI do give better rates if I physically convert USD to Peso. So I transfer USD then withdraw, convert to peso and redeposit it.
BPI or BDO are both good
base on what you have suggested maybe ill go for BPI
thanks guys!
I have BPI account only needed a passport to open account, no charge for express savings if you keep balance above P2,000, it really depends on where your at, if their is a BPI, BDO,PNB they are all ok
Good day Friend, Bank of Philippine Island. Kind regards, Orly Philip