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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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