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Moving $$ from USA To the PI


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59 minutes ago, Lee said:

No reason for them to ever know a person is living in the Philippines as long as someone uses the ATM card once in a while within the U.S. such as when on vacation or family, we are allowed to be on extended vacations out of the U.S. but of course if you file your income tax as living outside the U.S. or tell them, then that could/would give it away. Of course using an ATM card every month might also give it away, thus yet another reason to have more than one way to get cash while living in the Philippines such as a Philippine bank account to deposit U.S. checks into and a few different U.S. banks to use their atm cards on a rotating basis.  

I asked Fidelity about spending a lot of time in the Philippines and they said as long as we live in the U.S. then it does not matter how much time we spend outside the U.S., so no need to tell them as long as we maintain a U.S. address and phone number would likely be a way around it but they also said that if they know we live outside the U.S., then they would be forced to close all our accounts, meaning investments and bank account. 

I think the key is that you do live in the US most of the time, so the fact that you also live in the Philippines part of the year doesn't matter. For those who live in the Philippines full-time, there isn't any opportunity to use the cards at a US ATM.

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I have HSBC accounts in the USA and in the Philippines.  I can transfer USD from my HSBC savings account in the USA to my Philippine USD account at HSBC with no fees.  I then transfer the USD from my

I've had Schwab for quite a while and very happy with them. However, today I received an email that says I've been using it in Asia a lot and I have 30 days to confirm my address in the states or they

Thanks for the heads up, if that is the case, then one way to solve that issue might be to have a relative use it once in a while in the U.S. and deposit the money back into another account. This and

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UPDATE: 

I have been in contact with Schwab and apparently it was my fault that I did not update my contact number. the old phone number does not exist anymore and when they tried to contact me red flags went up. My daughter takes care of mail and stuff in the US and I had her number as a secondary. I have updated it to reflect the primary.

The lady I talked to said if I am out of the country for more than a year we need to change it to and international account, (which would suck). But I assured her we don't stay that long as you can't find good Buffalo wings here.

Hopefully this satisfies them...let you know.

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Monsoon
5 minutes ago, Dafey said:

I have been in contact with Schwab and apparently it was my fault that I did not update my contact number. the old phone number does not exist anymore and when they tried to contact me red flags went up. My daughter takes care of mail and stuff in the US and I had her number as a secondary. I have updated it to reflect the primary.

They call me about once a month to ask me if I need anything. The guy is nice enough but its starting to annoy me, I think next time he calls I'll ask him to put me on the "Don't call us we'll call you" list. 

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On 9/22/2017 at 7:49 AM, Monsoon said:

They call me about once a month to ask me if I need anything.

Yeah, I need you to quit calling me.

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On 9/22/2017 at 7:42 AM, Dafey said:

UPDATE: 

I have been in contact with Schwab and apparently it was my fault that I did not update my contact number. the old phone number does not exist anymore and when they tried to contact me red flags went up. My daughter takes care of mail and stuff in the US and I had her number as a secondary. I have updated it to reflect the primary.

The lady I talked to said if I am out of the country for more than a year we need to change it to and international account, (which would suck). But I assured her we don't stay that long as you can't find good Buffalo wings here.

Hopefully this satisfies them...let you know.

Schwab lady wrote and told me we are all set and no problem.

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Don't tell them you're abroad and you can open it online. The only time I needed paper contact was to add my wife as joit account holder.

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have you used "Tunnel Bear"? I think it's called VPN and makes it look like you're in the states while on the computer.

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colemanlee

Ive been using Wells Fargo for about seven years....transfer my retirement from the US to my BPI account...the only draw back Ive found is you have to be in the US to set up the account and Wells Fargo only has banks in the continental US, none in Guam or Hawaii so if something should go wrong and you could not handle it over the phone, you would have to fly back to the US....or put a son, daughter, brother...somebody on the account so they could handle it for you...

I always keep some checks on hand for a emergency as I could do like many here do and just deposit a check in my account here

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Thalcoozyo

Maybe someone here can give me advice.  The sweetie and me (U.S. based) are going to purchase a vehicle.  Maybe from a dealer, maybe from a private party... not sure, yet.  How does one transfer, say, $10,000USD (or less) to a person in Cebu City?  At this point, we do not have a bank account in the Phils.  We DO have a niece in Cebu City with a BDO ATM account. Any low hassle suggestions?   ("low hassle" means we don't have to open a Philippine bank account just for this one item.)

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SkyMan
3 hours ago, Thalcoozyo said:

Maybe someone here can give me advice.  The sweetie and me (U.S. based) are going to purchase a vehicle.  Maybe from a dealer, maybe from a private party... not sure, yet.  How does one transfer, say, $10,000USD (or less) to a person in Cebu City?  At this point, we do not have a bank account in the Phils.  We DO have a niece in Cebu City with a BDO ATM account. Any low hassle suggestions?   ("low hassle" means we don't have to open a Philippine bank account just for this one item.)

You can bring $10K on the plane with you.

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Davaoeno

I brought a fairly large amount of cash with me . But I made sure to declare it in Korea [ KAL flight] as well as on landing in Cebu . 

I flew out of Canada,  so no need to declare it on departure, but if you fly out of the USA and its 10K or over you have to declare it to the US government 

Since your niece already has a BDO account why not just have her open a savings account and send the money by SWIFT  bank to bank. 

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SkyMan
11 hours ago, Davaoeno said:

Since your niece already has a BDO account why not just have her open a savings account and send the money by SWIFT  bank to bank. 

She would need $500 cash to open a dollar account.

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Woolf
3 minutes ago, SkyMan said:

She would need $500 cash to open a dollar account.

Why would you need a dollar account to send money to a philippine account ????

I have my bank swift transfer money to my BPI savings account all the time 

I do all my danish account transactions online

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7 minutes ago, SkyMan said:

She would need $500 cash to open a dollar account.

Why not send in Dollars and ur niece receive it in pesos. 

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