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As a foreigner can I open a bank account if i live in the USA


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Richard K
3 minutes ago, Woolf said:

Good idea there... didn't think of it.. I am not disputing... just another option for this guy... whatever works best ..
http://www.pnb.com.ph/index.php/about

You can find anything there about PNB.. good luck

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You will most likely need to try many different banks and branches. I tried at 3 different banks and was hit with a very long list of requirements. Having all but given up we headed back to our h

I do have credit cards but I just wanted to have some cash in country. 

I am out of here until someone writes about opening a bank account

3 minutes ago, Richard K said:

Good idea there... didn't think of it.. I am not disputing... just another option for this guy... whatever works best ..
http://www.pnb.com.ph/index.php/about

You can find anything there about PNB.. good luck

The above link is not working for me  ????

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Richard K
26 minutes ago, Woolf said:

The above link is not working for me  ????

hmmm... works for me

 

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Just now, Richard K said:

hmmm... works for me

 

ok      it works now for me too

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Richard K
2 minutes ago, Woolf said:

ok      it works now for me too

when I first started with them for a dollar savings acct. initial deposit was only $200.. I see it is now $500 

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15 hours ago, Travis said:

I do have credit cards but I just wanted to have some cash in country. 

Bring checks.

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Headshot
6 minutes ago, M.C.A. said:

Bring checks.

For what? Checks take almost a month to clear here, so it is very difficult to use them. If he has ATM cards, he can get whatever money he wants from ATM machines.

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7 minutes ago, Headshot said:

For what? Checks take almost a month to clear here, so it is very difficult to use them. If he has ATM cards, he can get whatever money he wants from ATM machines.

There is now a 250 PHP fee for using foreign card to get cash at an ATM

max withdraw is 20,000 PHP each transaction

the above is for BPI ATMs

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Headshot
1 hour ago, Woolf said:

There is now a 250 PHP fee for using foreign card to get cash at an ATM

max withdraw is 20,000 PHP each transaction

the above is for BPI ATMs

And some US banks reimburse your accounts for any ATM fees charged. And that still doesn't help you with the long delay for check processing. Nor does it negate the fact that many retailers will nt accept a check. You certainly can't walk into a bank and cash a foreign check. Even if you have an account in that bank, they will only allow you to deposit the check (and you see the increased balance 22 working days later). Like I said, the OP would be best off to get an account at HSBC or Citibank, which do have offices here. Then, he can get whatever money he wants when he wants it (provided he has the money in the account).

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14 hours ago, Headshot said:

For what? Checks take almost a month to clear here, so it is very difficult to use them. If he has ATM cards, he can get whatever money he wants from ATM machines.

what good is the ATM card if it has been destroyed, stolen or there's no electrical power or money in the machine... Have you forgotten about typhoons.  Expat friend of mine from Cebu only brought his ATM card and he started having troubles with it and he had no other means of getting money, he didn't bring his checks.

My ATM card is nearly destroyed because the cashiers are so careless with them, I have both sides of my ATM card loose one has the strip, what's my option to order and have my sister send me another it can take a month.

The checks are cashed through a money changer the same day you will get a service charge of from 2 -5 peso's of each dollar and I think 250 pesos per check this is the new requirement by the banks so the money changer will tack that on, but you'll have cash,  Headshot you are talking about opening a bank account and it takes 30 days to clear.  

Edited by M.C.A.
adding another issue with my ATM
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Headshot
1 hour ago, M.C.A. said:

what good is the ATM card if it has been destroyed, stolen or there's no electrical power or money in the machine... Have you forgotten about typhoons.  Expat friend of mine from Cebu only brought his ATM card and he started having troubles with it and he had no other means of getting money, he didn't bring his checks.

What if an asteroid hits between Cebu and Bohol and sends up a tsunami that drowns everybody on both islands? Seriously, you are just as likely to have checks stolen as have your ATM cards stolen. ATM cards will give you instant access to money with no 10%+ fees for withdrawing your own money (like your checks do).

1 hour ago, M.C.A. said:

Headshot you are talking about opening a bank account and it takes 30 days to clear.  

I advised the OP to open an account with Citibank or HSBC (IN THE USA) where it doesn't take thirty days to clear. Both banks have branches (and ATM's) here in Cebu City (across from Ayala Center Mall). There are no fees for ATM withdrawals, and it isn't likely that he will have problems with his brand new ATM card (provided he tries it out a few times in the US before he visits the Philippines). He should also inform the bank that he will be visiting the Philippines beforehand, so no problems arise while he is here. Remember, he is just coming for a relatively short visit.

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shadow
1 hour ago, M.C.A. said:

what good is the ATM card if it has been destroyed, stolen or there's no electrical power or money in the machine... Have you forgotten about typhoons.  Expat friend of mine from Cebu only brought his ATM card and he started having troubles with it and he had no other means of getting money, he didn't bring his checks.

My ATM card is nearly destroyed because the cashiers are so careless with them, I have both sides of my ATM card loose one has the strip, what's my option to order and have my sister send me another it can take a month.

The checks are cashed through a money changer the same day you will get a service charge of from 2 -5 peso's of each dollar and I think 250 pesos per check this is the new requirement by the banks so the money changer will tack that on, but you'll have cash,  Headshot you are talking about opening a bank account and it takes 30 days to clear.  

There is no place within 100+ km of me that will cash a US check, nor a business that will accept one. Other areas may differ.

 

ATM machines are nearly everywhere there is a bank.

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The only personal checks I’ve ever seen at a money changer were on display. It was a "wall of shame" display of the personal checks the money changer had accepted....each with some form of INSUFFICIENT FUNDS or NO SUCH PERSON stamped on the check. Also, there was a large notice...No Personal Checks!

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Richard K
2 hours ago, Headshot said:

I advised the OP to open an account with Citibank or HSBC

Citibank, HSBC, BPI, BDO, Metrobank, PNB...and many others have branches and ATM machines that will accept their ATM card all over the PI.. they are everywhere. And even smaller towns with no ATM?..if there is a bank there they will work with you to get THAT fee...It has happened to me several times
Citibank I know for a fact... if you have a Citibank account already in the USA..you can get an ATM card that can be opened up internationally...to use anywhere in the world that Citibank operates..which is just about everywhere...there will be no fee if it is posted on the ATM as an accepted member.(and even if it isn't it is worth the try) However.. I think there are withdrawal limits per day.... and I am not sure but that might even be province/particular. 
I was under the impression that the OP wanted to open a Philippine account..be able to deposit from the USA and withdraw while in the PI from that acct. The best way to do that is to have an ATM card associated with a widely known and accepted bank.
Maybe I was wrong as there seems to be many branches on this "banking" tree... maybe I only added another unnecessary one...
I brought 2 new boxes of personal checks with me when I came here... have not used a single one... in fact my g/f and I use them as scrap paper to write out grocery list on..
If it were me... I would open an acct. with a bank that is recognized and well known in the PI while still in the states...
Citibank is a good choice... but when I was looking I found them abit touchy as far as criteria.... it might have been that class action suit I got sucked into without knowing about it years ago..but after I applied for an international acct. I got a letter of regret saying they were sorry but my application was "flagged"... no explanation... so I moved on

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3 hours ago, shadow said:

There is no place within 100+ km of me that will cash a US check, nor a business that will accept one. Other areas may differ.

 

ATM machines are nearly everywhere there is a bank.

I live on Luzon and we started out many years ago cashing checks with a money changer but the money changer had to get information from us,I got tired of using them because of the 2 - 5 peso per dollar charge so I opened up a bank account that's when the dollar was in the low 40's.  

There must be money changers in Cebu?  I use the money changer when I don't want to wait 30 days for a check to clear.

Edited by M.C.A.
grammar
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