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Rexsmith

can not open a bank account unless have retirement visa?

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Rexsmith

This morning went to the BPI and was told foreigners can not open an account unless they have a retirement visa or better. I have been here a few years on a tourist visa. Most of my friends are the same and yet have bank accounts. Is this a new policy? Maybe I will try another branch. Thanks

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oztony
1 minute ago, Rexsmith said:

This morning went to the BPI and was told foreigners can not open an account unless they have a retirement visa or better. I have been here a few years on a tourist visa. Most of my friends are the same and yet have bank accounts. Is this a new policy? Maybe I will try another branch. Thanks

Complete Baloney ... I Believe a prerequisite is to have an ACR card , but go to a different bank whoever you are dealing with is not worth the headache........ 

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Richard K

Me I set up a direct deposit acct from the states before i even got here.. i think you should have asked someone else there... I think you were misinformed..

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rizla

Try Metrobank Fuente Osmena, I opened an account there with just my passport, it was three years ago, so maybe things have changed, but they are a helpful bank.

 

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Jawny

Some banks will ask for an ACR card, but it is not a requirement.  It is a common sort of identification, but a "retirement" ACR card is not needed.

Of course, little good that does if you can’t get past the one asking for the card.  What many do is to speak with a manager who is more likely to have the ability to accept other forms of identification. 

If you live in an area where you can shop around, then try another branch or bank.  Keep in mind, some banks operate their branches like a franchise, so a passbook account at one branch may be harder to use at another branch.

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Rexsmith

Thanks for your replies. I will go to another bank. 

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Headshot
6 minutes ago, Rexsmith said:

Thanks for your replies. I will go to another bank. 

Just out of curiosity, which BPI branch did you go to?

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A_Simple_Man
18 minutes ago, Rexsmith said:

I will go to another bank. 

If you want to have a better banking experience go to a bank where you know at least one other expat customer who is well respected at that bank.  Don't deal with the lackeys.  Go direct to the bank manager and tell him that your friend "Joe" has an account there and speaks very highly of him (the manager).  Then drop hints about the large amounts of money you plan to deposit and you will have your account in no time at all.

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Kreole
8 hours ago, oztony said:

Complete Baloney ... I Believe a prerequisite is to have an ACR card , but go to a different bank whoever you are dealing with is not worth the headache........ 

I did not even have to present an ACR card.  In fact I do not remember the ACR's existing when I came here 9 years ago.  At PNB I had both a dollar account and a peso account but dropped the dollar account because they wanted to hold my money for 10 business days before giving me access.  I thought that was just pure bs and dropped the account immediately.  They had a cash identity machine right there at the desk but said they couldn't use, etc. etc.  F*ck that!  

Nevertheless, it was easy as pie to open both types of accounts and only required a passport.  Now I think you may need an ACR card as well.  

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SkyMan

Rules change but as far as I know an ACR-I card is still enough.

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savarity

None of that is what ive been hearing. The rules have indeed changed since 2015 and most banks will NOT open an account if all you have is the white acr card.

If anyone has experience opening an account on a tourist visa, within this year, please let us/me know.

Sent from my SM-G925V using Tapatalk

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Woolf
32 minutes ago, SkyMan said:

Rules change but as far as I know an ACR-I card is still enough.

Could it be that it has something to do with the reporting 

that the banks have to do for accounts owned by citizen of USA

(Report of Foreign Bank and Financial Accounts (FBAR))  https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

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samatm
10 hours ago, A_Simple_Man said:

If you want to have a better banking experience go to a bank where you know at least one other expat customer who is well respected at that bank.  Don't deal with the lackeys.  Go direct to the bank manager and tell him that your friend "Joe" has an account there and speaks very highly of him (the manager).  Then drop hints about the large amounts of money you plan to deposit and you will have your account in no time at all.

Very true.   I inquired my BPI  bank  and he said ...No worries.. send him to me.   

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hyaku
15 hours ago, Rexsmith said:

This morning went to the BPI and was told foreigners can not open an account unless they have a retirement visa or better. I have been here a few years on a tourist visa. Most of my friends are the same and yet have bank accounts. Is this a new policy? Maybe I will try another branch. Thanks

I was told it's Bangko Sentral's policy encouraging banks to follow this policy. But it's still down to your manager to decide. Thing is many people here stay on tourist and don't have residency.

I asked my Metrobank manager for friend. He told me IDs and a letter from the barangay to say my friend resided here were sufficient.

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A_Simple_Man
12 hours ago, savarity said:

If anyone has experience opening an account on a tourist visa, within this year, please let us/me know.

I sent 2 tourists to 2 different banks to use the method I mentioned.  Both within the last 6 months.  Both got bank accounts within the hour.

Talk to the manager - drop a big client's name - act like you have big money.

It has always worked and it always will.

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GBT62

I received this from HSBC Philippines yesterday - so it IS current. My PRA SRRV Visa, Drivers Licence or TIN will cover the off the Government Issued ID.

"Opening an account with HSBC Philippines will require the submission of 

one primary ID (government issued ID), one secondary ID (e.g. company 

ID, ATM card, credit card) and a valid proof or residence with your home

telephone number.  Upon presentation of the needed documents and the 

acceptance of the required initial deposit, the account will be opened 

immediately within the same day."

 

Edited by GBT62

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Jawny
16 minutes ago, GBT62 said:

I received this from HSBC Philippines yesterday - so it IS current. My PRA SRRV Visa, Drivers Licence or TIN will cover the off the Government Issued ID.

"Opening an account with HSBC Philippines will require the submission of 

one primary ID (government issued ID), one secondary ID (e.g. company 

ID, ATM card, credit card) and a valid proof or residence with your home

telephone number.  Upon presentation of the needed documents and the 

acceptance of the required initial deposit, the account will be opened 

immediately within the same day."

 

In the past, on several,occasions, I was asked for a "home telephone number" which had to be a landline.  This was not for a bank account, but for establishing a credit card account.  They were unyielding on the requirement, so I passed. . 

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M.C.A.
15 hours ago, Kreole said:

I did not even have to present an ACR card.  In fact I do not remember the ACR's existing when I came here 9 years ago.  At PNB I had both a dollar account and a peso account but dropped the dollar account because they wanted to hold my money for 10 business days before giving me access.  I thought that was just pure bs and dropped the account immediately.  They had a cash identity machine right there at the desk but said they couldn't use, etc. etc.  F*ck that!  

Nevertheless, it was easy as pie to open both types of accounts and only required a passport.  Now I think you may need an ACR card as well.  

My PNB bank 8 years ago required that I have a Permanent Resident Card same with my Internet hook up so it appears just like Jawny mentioned these banks seem to be autonomously run even though they are bank chains.  I also enquired with BDO they had the same requirements to open an account, for me to get a money order for my US passport renewal I had to bring in my passport and ACR card it was a process.

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hyaku
43 minutes ago, M.C.A. said:

My PNB bank 8 years ago required that I have a Permanent Resident Card same with my Internet hook up so it appears just like Jawny mentioned these banks seem to be autonomously run even though they are bank chains.  I also enquired with BDO they had the same requirements to open an account, for me to get a money order for my US passport renewal I had to bring in my passport and ACR card it was a process.

I left PNB. The manager saw me in the street. He came up, we chatted and asked me to please open an account again!

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Richard K

I have a PNB acct. I opened it from NYC almost 5 years ago before i even came here I have had no problems with them..
I have a direct deposit dollar acct and a peso acct that has an ATM card for it.
I cannot access my dollar acct from anywhere except the branch  that I started it in..but my ATM card works everywhere i have gone for withdraw of peso
It is different here than in the states. It seems like every branch is a separate "franchise"..
If I wanted to move I would have to transfer my acct to a local branch...

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sugbu777

I was going to open a PNB account at the Guam Branch, but their requirements were onerous. They wanted pay stubs, W2's, 1040's etc. For a frickin' savings account. The hell with that.

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M.C.A.
3 minutes ago, sugbu777 said:

I was going to open a PNB account at the Guam Branch, but their requirements were onerous. They wanted pay stubs, W2's, 1040's etc. For a frickin' savings account. The hell with that.

I also while stationed on Guam thought about opening an account with them but never had a need but I did exchange pesos for dollars once.  Lol, I don't understand the need for so much documentation when they could do a simple credit check.

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cookie47

Hi
"I know our circumstances are slightly different but I will offer the following."

My wife and i opened ATM accounts at Metrobank only two months ago.
Although my wife did the transaction i had to apply as a separate entity and get approval from Manila which subsequently came back ok.
Our id was Australian Passports and proof of a residential address.
We now have ATM cards.We delt with the Manager and the procedure was a breeze.
As others have said, keep trying as we know certain establishment's seem to have "Local" rules. BUT.... for sure recent reporting regulations have been implemented and strengthened which may hinder you slightly.

Sent from my Redmi Note 3 using Tapatalk

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