SEEKING ADVISE RE; DEPOSIT U.S. SS CKS INTO BANK, PHILS.

One way to do it (here in TH) is to have it direct deposited in home bank, and then use ATM card (at a safe location)

Well, I considered doing the same thing with my SS, but after 5 trips to the Philippines in preparation to move there this Spring, I have decided it would be best to have my SS PENSION (as they ccall it in the Philippines, lol) deposited into my Fidelity brokerage account by electronic transfer. I can then always access my money in PESO by using XOOM for electronic transfer for a small fee ($4.99.) Mike P.S. I have also had it direct deposited into a USA bank & then used my bank ATM card for PESOS @ a Philippine bank machine.

tnx chinacups ur reply is appreciated. i am hoping my place here in oregon sells soon, for that is my ticket there have a fine day.   blvdbum7

Hi,

Yes you might open a bank account where they deposit your monthly money and let them deposit in your account per month with ATM so that if you here in Philippines you can withdraw anywhere as long as its Mastercard,Bancnet,Cirrus or any ATM machine outlet here in Philippines...

HI, N THNKS TO RAFFLES PLACE. I WILL CK W/LOCAL BANK HERE TO KNOW  WHICH BANK THERE IS BEST CONNECTION, US - PHILS. A FINE DAY TO YOU, BYEE      BLVDBUM

@blvdbum7, could you please lower Caps lock?

Thanks,
Harmonie.

chinacups wrote:

Well, I considered doing the same thing with my SS, but after 5 trips to the Philippines in preparation to move there this Spring, I have decided it would be best to have my SS PENSION (as they ccall it in the Philippines, lol) deposited into my Fidelity brokerage account by electronic transfer. I can then always access my money in PESO by using XOOM for electronic transfer for a small fee ($4.99.) Mike P.S. I have also had it direct deposited into a USA bank & then used my bank ATM card for PESOS @ a Philippine bank machine.

Howdy blvdbum7 - I can tell you what I do and then tell you what I would prefer.  I have my check going to my US bank (Bank of America) and use my Checkcard.  But they charge a P200 international transaction fee each time and there is a P10,000 limit per transaction.  I've been considering 2 other options.  USAA seems like a good choice as they do not charge ATM fees and will reimburse you if you are using their card and another bank charges you.  Also, depending on where in the Philippines you are moving, Citibank could be the answer.  They have US and Philippine banks. If those banks, or any other banking institution really, are using the same computer system, the accounts are interconnected.  MetroBank here is not connected to the ones in the US, not the last time I checked anyway.  I hope I explained that without being to confusing.  Good luck.

If your staying in a major city like Manila or Cebu, then open a Citibank account in the US and one in the Philippines. Can do payment transfers for free. Also, for Citi Phil, can do both a US dollar account and a peso account.  I would not recommend having your SS check direct deposited to a Philippines bank, just keep minimum funds locally. But the Dollar continues to weaken, so keep that in mind as well.

I know i am like a year off in this conversation but i wanted to add that i have problems with my us bank sometimes because i am here in philippines! luckly the cheaf security officer at the bank knew about my case and he comunicates threw email.

Problem, lots of fraud in philippines and my bank blocked my debit card so one day no problems and then next it shows i have money but will not let me use it

solution: bank asked me if they could lower my debit amount to $1 and just use my card as atm only and i agreed and if i need to buy something big, i write them and they will lift it for one day

peoblem 2: my walet fell out of my pocket on my motercycle and did not know till i got home and my debit card was gone. my bank will NOT send a new one here, so keep that in mind everyone please! I am going to post a new topic and please read it! it will be about debit cards and experations and all that scarry stuff

luckly someone returned my walet minus the 1000 peso in it, walet its self. keep your number in your walet incase this happens to you, because that was my savior.