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I will be retiring soon and moving to the Philippines. Is it better to leave my money in the United States or have it direct deposited in a bank in the Philippines? If it is better to send to the Philippines, what are the best banks?

HELLO:
             I HAVE BEEN HAVING MY SSA RETIREMENT COME TO MY BPI BANK IN CEBU, THE PHILIPPINES FOR MANY YEARS ....ITS NICE BECAUSE ITS FREE AND NO ADDED COST...BEFORE I HAD IT COME TO BANGKOK TO THE BANGKOK BANK.....IF YOU HAVE ANY QUESTIONS JUST ASK...
REGARDS
JOE CLOUGH

Hello Joe Clough > you should please avoid writing in caps letters on the forum. ;) Thank you

sure..

Thanks Joe
I will be in Davao City in part of November through the middle of December for a visit this year. In two years I will be staying. Perhaps I will start an account there this year so I will have a place to send it to when I move there, Thank you for the reply. Perhaps we can meet some time.
                                                                      Kenneth

good morning from india:
i like davao and i did always want to move down there...anyway ,i am working in india as the technical director of pro boxing....my contract is up in december and will stay in thailand for awhile...i do have a small cottage in negros near the beach but its far from town and its somewhat boring there....yes..maybe we can meet one day....i am on facebook a lot or you can always send a email to: ***
joe clough

Moderated by Priscilla 2 months ago
Reason : Do not post your personal contact details on a public forum for your own security

My suggestion is to leave it in the states and open an account in the Philippines. My debit card with my American bank still works in the Philippines and my retirement check goes to my US bank. Plus if you need to travel back and forth overseas its best to have a US account.

Plus you have to ask the question are Philippines bank insured if they loose your money. Also I had issues remitting money from my US account to a Philippine account. I just decided to open a local account, withdraw money from my US account and deposit in my Philippine account.

yes..its a good idea if your going back and forth to america ...i have been in asia 13 yrs....never had problems when my ssa money comes every month on the 4th...when i finish here in india i  have a nice condo lined up in thailand on a beach in hua hin...its got everything ,2  pools, sea view, gym, cable tv, fully furnished ..i only need to get my own wi-fi its $214 a month and can walk to a very nice beach..
     davao has some nice condos near the beach...also ayala mall there is very nice with many english movies...joe

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