Close

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,

Howie2016

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 .

New topic

Expatriate health insurance in Cagayan de Oro

Free advice and quotation service to choose an expat health insurance in Cagayan de Oro

Moving to Cagayan de Oro

Find tips from professionals about moving to Cagayan de Oro

Travel insurance in Cagayan de Oro

Enjoy a stress-free travel across Cagayan de Oro

Flights to Cagayan de Oro

Find the best prices for your flight tickets to Cagayan de Oro