Info needed about transferring money to buy a house

Good evening/morning everyone:

I'm new here on the forum. My wife (a Filipina) and I are looking to buy a house in CDO for my mother-in-law. We have found a couple of houses that we like and we are considering making an offer in the next week or so. I'm wondering where we can get the best exchange rate USD-PHP?

As you know even a .25% difference in the exchange rate can make a difference of $500 or so. Any advise is appreciated.

Thanks in advance,


Just send it in Western Union and and tell to your wife to receive it in dollar not in peso.

I agree to get the money in dollars.  The banks rake a big cut if you don't.  I just went through that process and it cost me about $80 loss in using the convenience of the peso from the bank.  One pays for conveniences any where.  I do advise anyone looking for a bank to avoid BDO if possible.  Many charges added on to transaction, trouble getting money in timely fashion, sometimes atm cards don't work.  Many frustrations using them.  I will be changing banks.  I have been told by my doctor that she uses China Bank without any problems.

the exchange rate is usually very low with western union better to use a bank if transfering a large amount of cash and negociate the exchange rate right now is a bad time as the exchange rates are very low .

If you have one, drop your USA check into your Phil's dollar account. Takes about 3 to 4 weeks to clear, no fees involved, at least with BPI.....bear in mind, if your Phil's balance goes over $10,000 during the year, you gotta do an FBAR to uncle Sam. Bear in mind any amount $10,000 and above that you move here is reported to uncle Sam by your bank. Another simple method is Wire transfer to your Phil's dollar account.

rainrider9 well ive been using BDO for about 10 years no charges no worries at all, also metro is ok only thing is if you go to another city or town they will charge you for over the counter service, their is no bank network here unlike back home

I use PNB europe but they do have outlets in the USA. The ex rate compares very close to the spot rate. I have used for 5 years mainly trouble free

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