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Derick

Bank account

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Derick

Can someone enlighten me please what are the requirements for a Philippine person to open a bank account.

Which bank is best as I'm fed up with Western Union.  This is what i know. TIN NUMBER Electric bill NBI VALID 2 PHOTOS

Havent been around for awhile had knee and hip replaced and had another DVT

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SkyMan
9 minutes ago, Derick said:

a Philippine person

Aka Filipino?

Or an expat? If so, what type of Visa and do you have an ACR-I card? 

I like BPI and hate BDO and Metrobank.  Others will tell you the opposite. 

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Derick

Don't have a visa asking for Girl friend who is a Filipino.

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shadow
14 minutes ago, Derick said:

Don't have a visa asking for Girl friend who is a Filipino.

Unionbank EON account. No minimum balance, no monthly fees, just 350 per year to Visa. Links directly and easily to Paypal. About 8 years ago we opened an account in 20 minutes, and didn't give them any money!

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Derick

Will tell her, account must allow me to send her funds for her to deposit her salary and a debit card to draw out funds.

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Salty Dog
4 hours ago, SkyMan said:

Aka Filipino?

Or an expat? If so, what type of Visa and do you have an ACR-I card? 

I like BPI and hate BDO and Metrobank.  Others will tell you the opposite. 

I agree with you about BPI being pretty good and BDO was a pain in the ass to deal with. 

With BPI, I could send money from the USA to my account using Xoom. Took just a few minutes before money was in my account at BPI. They have a pretty good online app too...

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BossHog

I've had good luck with PNB (Philippine National Bank) recently. Opened four accounts for various Filipino family members/ minimum deposit of 3,000 for a MasterCard debit card account and 10k for a passbook account. 500 bucks minimum for a US dollar account. Requirements are a valid ID, two photos, and an ability to sign your name.

Be aware that interest rates are negligible. I believe it's currently at .01%.

I did do some bank shopping before settling on PNB and found East West Bank to be the worst and shockingly bad and unprofessional. Found BDO to be constantly overcrowded.

Edited by BossHog
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Jimone

We have a BPI account, easy to open, only two ID needed at the time, not sure about now. Easy to send money from our account in Australia with western union, money there is minutes, we even organised a housing loan with them from Australia with a bit of help. 

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Jawny
6 hours ago, Derick said:

Can someone enlighten me please what are the requirements for a Philippine person to open a bank account.

Which bank is best as I'm fed up with Western Union.  This is what i know. TIN NUMBER Electric bill NBI VALID 2 PHOTOS

Havent been around for awhile had knee and hip replaced and had another DVT

The ID requirements are probably not as strict as you list. My extended family members have various sorts of bank accounts and none required an NBI check nor TIN. 

If you intend to be sending money from outside the Philippines, your friend needs to inquire about what sort of account to use for that.  Not all accounts have the same features of course.  One of the simplest is an ATM account.  No passbook, no statements and the like.  ATM access, but otherwise limited features. 

As well, having an account with ATM access may not serve as a debit card.  I use Metrobank and they have a wide variety of accounts to choose from.  Other banks as suggested might be better for you needs, such as branch location.  Many banks operate like franchises and account access is limited to the branch where the account was opened.  That is true for my Metrobank passbook account.  I can only make transactions at my branch for that account. 

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BossHog
9 minutes ago, Jawny said:

If you intend to be sending money from outside the Philippines, your friend needs to inquire about what sort of account to use for that

One thing to note: If you'll be transferring funds from overseas make sure to ask the bank manager for the "preferred rate". It only takes a moment and they'll assign the best available rate to your account. You can save a few percent on every transaction this way.

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Davaoeno
1 hour ago, BossHog said:

You can save a few percent on every transaction this way.

As much as I wish this were true in my experience no bank is so rich as to give you " a few percent" free .

You might be able to negotiate up to half a percent .

If you do find a bank willing to give you a few percent discount please let me know !!! :P

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BossHog

Maybe I didn't state it right. The default margin is something outrageous like 2.5% on foreign currency deposits. You can negotiate that down to .5%. Hope that clarifies it.

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Goetz1965

Instead a bank account open her a GCASH account with Globe SIM.
That way you can transfer money to her online too (AZIMO des that) and she can use GCASH for paying.

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Derick

For her spousal visa she will need to  supply statements six months so account will have to have these facilities. I have to ask my son to be her co sponsor as I am now on an Invalidity Pension and the Irish government dept has an abysmal attitude to disabled people Marring and wanting a visa for their wife.

The UK government are more lenient so i have applied for a UK passport we can do this as British people can apply for  Irish PASSPORTS.

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Salty Dog
1 hour ago, Derick said:

For her spousal visa she will need to  supply statements six months so account will have to have these facilities… 

Damn they're tough where you're from.

For a spouse to come to the USA they don't have to have a job, a bank account or a dollar in their name...

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