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wondersailor

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wondersailor

Will be moving to the Davao area in about 2 months and am thinking of changing banks to HSBC in US. Good idea ? Bad idea? Better alternatives?

Thanks

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billy
13 hours ago, wondersailor said:

Will be moving to the Davao area in about 2 months and am thinking of changing banks to HSBC in US. Good idea ? Bad idea? Better alternatives?

Thanks

It all depends on what you want to use them for. if its just local banking use a local bank if its withdrawing money from the US on an ATM HSBC might be OK.

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Jawny

I couldn’t recommend hsbc or any other.  However, I would suggest you establish an account youlike and tryst that has services you can use here. I did not establish a variety of banking options before I moved here. This has presented challenges since I don’t travel back and have no established residence other than Leyte. 

So, hsbc or another, but plan ahead with a good account before leaving. 

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Davaoeno

I have accounts with BDO  BPI  EAST WEST  and Metro Bank.  HSBC declined to give me an account- no reason given. Lol    But if  you expect  to be doing international  transfers on a regular basis and you are able to get an HSBC account before coming I recommend you do so.

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Captainmike

I've had nothing but good luck and good service from HSBC.  I have three accounts in the USA (set it up there) and three in the Philippines.  In the Philippines I have a USD account in my name, a peso account in my name and a joint Peso account with my wife.  The only down side is there are only two branches in Davao (I live in Padada, Davao del Su no branches here) but they link with all the major ATMs from all the other Filipino banks.  Full disclosure I do keep one of my IRA accounts in HSBC so I'm HSBC Premier... personal banker, separate section to do business (not the tellers), etc... but all in all it's been a great experience for the last six years.... I transfer $ from the US and pay bills online so I don't have to go to the branch very often.  I also have an HSBC Premier  MC that I use for my post-paid Globe and Cignal TV....

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Is what they have in Cebu a real branch?

I saw a meeting room sized place opposite to Rustan's, no ATM outside!

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trthebees
25 minutes ago, rep1 said:

Is what they have in Cebu a real branch?

I saw a meeting room sized place opposite to Rustan's, no ATM outside!

There's a very comfortable ATM room on the left of the main doors. I know it's open earlier and later than the bank itself, but don't know when/if it shuts at night.

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Davaoeno
1 hour ago, Captainmike said:

I've had nothing but good luck and good service from HSBC.  I have three accounts in the USA (set it up there) and three in the Philippines.  In the Philippines I have a USD account in my name, a peso account in my name and a joint Peso account with my wife.  The only down side is there are only two branches in Davao (I live in Padada, Davao del Su no branches here) but they link with all the major ATMs from all the other Filipino banks.  Full disclosure I do keep one of my IRA accounts in HSBC so I'm HSBC Premier... personal banker, separate section to do business (not the tellers), etc... but all in all it's been a great experience for the last six years.... I transfer $ from the US and pay bills online so I don't have to go to the branch very often.  I also have an HSBC Premier  MC that I use for my post-paid Globe and Cignal TV....

HSBC has 1 branch in Davao City

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HSBC ATM's open 24 hrs a day no ATM fee ,not sure if they have a branch in Davao   good luck

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Jim Sibbick
2 hours ago, rep1 said:

Is what they have in Cebu a real branch?

I saw a meeting room sized place opposite to Rustan's, no ATM outside!

HSBC, up the stairs and straight into the main banking chamber in the day time.

24/7, go to the left of the main doors and enter a room with a guard on then door 24/7 with 2 ATM machines, As far as I am aware, they both now dispenses P40,000 at a time in P1000 notes. No additional ATM fee like all other banks in the Philippines. However, for several years, there has been a message saying there MAY be a fee and I have to press a button to continue.  For a person without an account with a bank in the Philippines, it is the best 2 ATM machines you will find in the whole of the Philippines between Manila and Davao City

For the person asking about HSBC in Davao City, the answer is yes. In the Philippines, HSBC is only in Manila, Cebu City and Davao City.

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Captainmike
17 hours ago, Davaoeno said:

HSBC has 1 branch in Davao City

Yeah you're right they closed the other one...

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musicman666
21 hours ago, tonny said:

HSBC ATM's open 24 hrs a day no ATM fee ,not sure if they have a branch in Davao   good luck

Maybe check their exchange rate ...what seems like a no fee option might be buried in their rate...not sure but it has been suggested before.

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Well i don't think so but you never know when i check the rate of the pay out and cost it better than metro bank usually except if you get there Monday thru Friday promo rate. If you have a account with them and you get the manager to give it too you.like i have said before i have been getting like 40,000 Peos at one draw at around 776 $ and the $7.70 foreign exchange fee.  All  fees  each time it different  and there rate is even some time better than Rustans exchange booth at the entrance to the store . For sure better than the same companies exchange place on the first floor of Ayala Mall  where all the van drivers ,tourist guides bring there clients,to be fed to the dogs,for there little gesture  ,they maybe get a few pesos.

Edited by tonny
spellig
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11 hours ago, musicman666 said:

Maybe check their exchange rate ...what seems like a no fee option might be buried in their rate...not sure but it has been suggested before.

 Almost the same as the live rate on xe.com late time I checked, and a better exchange rate than all of the popular remit websites.

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