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New ATM surcharge.


Jess Bartone

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Dave;

 

My bank has an international 800 number I can call from anywhere in the world to clear up issues with my account. And so far they have been very good. Can you check to see if your bank offers the same? That way you don't have to make the expensive flight back to Canada and also hopefully clear this up with just one phone call.

 

 

 

. . . My balance stays offshore, safely out of the hands of the Philippine banking system and outside the control of the Philippine Central Bank and the Philippine Congress.

 

Yeah . . . glad that works for you. I used to think similar thoughts until I got THIS email from my Canadian bank manager this morning. (My crime . . not being in Canada when they apparently audited me . . thus not showing up for a tax audit and therefore being found guilty)

 

 

Good Morning Dave,

 

 

 

As per our notes, Revenue Canada has placed a requirement to pay on your account.

 

The amount that they say is owing is XXXXXXX.

 

Your contact person is XXXXXXX and the number to contact them is XXXXXXXXX ext. XXXX3.

 

So until you call and make arrangements with Revenue Canada we will have to keep the Court Order message on your account,

 

which will keep all funds frozen.

 

When we receive confirmation from them that there are arrangements in place we then can remove the hold.

 

 

 

Let me know if there is anything else I can do.

wow that sucks Dave

 

gonna be able to take care of it from the RP or are you gonna have to fly to Canada?

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And it's the local banks that do it!   China Bank seems to have a lot of branches in the Philippines - http://www.chinabank.ph/personal/

eggnoggin

Thats what u get for lookin so happy with your ears flappin around and all..some single mom surfin the web blew a R#g when she saw it.. went right to phone the tax people......cops and single moms ..fat girls an post office employees hate to see anyone with a smile on his face and the wind in his ears ..especially one in the land of hot and cold running... slender sweeties............a big frown and thundering green garlic fart..munchin a booger... is the best defense and cloak of invisibility aginst the "wreaker" sex anywhere... anytime.. :) :evan_iliadis: :beatdeadhorse: :evan_iliadis: :beatdeadhorse:

Edited by eggnoggin
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Jess Bartone

If you have a citibank atm near you in the phils? there are no atm fees for the 1st 2 transactions...............no monthly fees either its called online saver. I use it all the time. url citibank.com.au

Citibank is one I heard is good for this kind of usage, unfortunately BDO is the only ATM in town that accepts foreigh cards.

 

 

hong kong bank are very sneaky .they charge some nominal ammount per withdrawl but they lace the exchange rate so it doesnt show on the statement ..nice one.

Is that HSBC? It was recommended in a thread I can't find right now, but supposedly if you keep a certain balance, they don't charge a fee for transferring funds between your homeland account and your Philippines local account, and a "local" HSBC card would not attract the Kano tax in theory. But if they're rippin' you when they transfer inter-country, what's the point of banking with them in the first place. Jeez I dunno.

 

And now after reading about Dave's adventures with the revenue collectors, the game just got more complicated.

 

My bank here, ANZ (Australia & New Zealand) has an office in Manila, so perhaps the answer has been under my nose all the time. I'm off to talk to the bank manager.

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I am looking into Forexworld as mentioned by Womabatphil on another thread where he transfers money from his Australian account into a BDO account. I am interested in their cash card which can hold up to a maximum of 100,000 pesos at a time, with a maximum daily withdrawal of 50,000 pesos. No bank fees if you use BDO atms and you can use the card for shopping where there is eftpos.

 

http://www.forexworld.com.au/

 

Using my bank to withdraw costs me around 18 to 20 dollars for every $500 withdrawal some ATMs only would let me take out 5000 a time so as a traveler it can be costly. What attracts me to the cash card is the $8 reload fee on the card and no other fee in using in the Philippines and its usefulness in shopping. I can reload using internet banking to top up the card for the $8 fee. I calculate I can save $100 in bank fees during my trip using their card.

 

If I had someone there I was supporting I can leave the card with them and top it up from home as needed but I will keep it for the next trip and pay the 25 pesos a month while it is inactive and just top it up when I go back.

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I am becomming a bit dismayed with BDO. We opened an account for the mother-in-law with them but made the mistake of opening it at the branch where we have our account ( Ayala Mall ). Now we find that if she withdraws money over the counter from Tabunok branch she is charged a PhP100 fee because that's not the branch where the account was opened! I also have an ANZ account in Australia but i don't use their internet international transfer, they charge $25 for that, so what i do is to transfer money online to Forex which is free and they then send it to any nominated account in Phil for $8. There are no other fees involved. I also have a BPI express teller account and atm card and have no problems at all with that bank.

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lazydays

I am becomming a bit dismayed with BDO. We opened an account for the mother-in-law with them but made the mistake of opening it at the branch where we have our account ( Ayala Mall ). Now we find that if she withdraws money over the counter from Tabunok branch she is charged a PhP100 fee because that's not the branch where the account was opened! I also have an ANZ account in Australia but i don't use their internet international transfer, they charge $25 for that, so what i do is to transfer money online to Forex which is free and they then send it to any nominated account in Phil for $8. There are no other fees involved. I also have a BPI express teller account and atm card and have no problems at all with that bank.

 

Many Philippine Banks will charge for withdrawls from another branch.

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lazydays

Jesse,

According to www.cdoguide.com which i bookmarked long time ago,BPI and Metrobank also accept Cirrus cards.

Check out the site,click on "money concerns" then "ATM",although i don't think any banks are now free withdrawl for foreign cards,P150 is a little better than P200.

You could also send larger ammounts,less often,to soften the blow.

Hope the site is useful for you.

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Lee From Cebu

China banks not chargeing th 150 P yet

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Spango58

If you have a citibank atm near you in the phils? there are no atm fees for the 1st 2 transactions...............no monthly fees either its called online saver. I use it all the time. url citibank.com.au

Citibank is one I heard is good for this kind of usage, unfortunately BDO is the only ATM in town that accepts foreigh cards.

 

 

hong kong bank are very sneaky .they charge some nominal ammount per withdrawl but they lace the exchange rate so it doesnt show on the statement ..nice one.

Is that HSBC? It was recommended in a thread I can't find right now, but supposedly if you keep a certain balance, they don't charge a fee for transferring funds between your homeland account and your Philippines local account, and a "local" HSBC card would not attract the Kano tax in theory. But if they're rippin' you when they transfer inter-country, what's the point of banking with them in the first place. Jeez I dunno.

 

And now after reading about Dave's adventures with the revenue collectors, the game just got more complicated.

 

My bank here, ANZ (Australia & New Zealand) has an office in Manila, so perhaps the answer has been under my nose all the time. I'm off to talk to the bank manager.

 

Hey Jesse wot i have done is opened a Westpac account, i was tired of the fees i paid through Xoom and Western Union, i then sent the card to my GF in Cebu City i transfer money from my Credit Union account to her every week, i think she pays about $5 per withdrawal, so Mae (GF) draws it out in one go, i sent the card via post not a smart idea i guess but she got it, next we will open a Joint Account with Westpac in the process of doing that. The idea is to show immigration evidence of our relationship so she and our daughter can come to Aussie. The other thing i did in relation to the card was to notify Westpac that i am in the Philipines, which i am not will be by mid May.

 

Cheers

Mark

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These ATM fees, fees for using a foreign card are now going worldwide, Chile, Thailand, Argentina and now Philippines are charging them.

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Cairnsman
These ATM fees, fees for using a foreign card are now going worldwide, Chile, Thailand, Argentina and now Philippines are charging them.

And it's the local banks that do it!

 

China Bank seems to have a lot of branches in the Philippines - http://www.chinabank.ph/personal/

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lazydays

Yesterday i decided to check out a few bank sites regarding these charges.

I checked BDO,BPI and Metro bank.

Interesting,

 

BDO transaction charge P200,max withdrawl ammount P50000 (subject to your card issuer limit).

BPI ------------------------ P150,------------------------------- P20000 (----------------------------------------).

Metro ---------------------- P150 not listed but i suspect P20000 (----------------------------------------).

 

BPI also had a notice on their site stating that from April 26th there will be a change in the charges regarding Mastercard withdrawls.

Withdrawls up to 175 USD will remain at 3.50 USD.

Withdrawls over 175 USD will be 3.50 USD +2%

They blame this on Mastercards increased charges,so i wonder if Visa,Cirrus and Maestro have increased their charges which has resulted in these ATM charges for foreign cards.

Edited by lazydays
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RogerDuMond

I just compared exchange rates for 1 US dollar to pesos.

HSBC - 44.82

PNB - 44.80

Metrobank - 44.60

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lynette

If you have a citibank atm near you in the phils? there are no atm fees for the 1st 2 transactions...............no monthly fees either its called online saver. I use it all the time. url citibank.com.au

Citibank is one I heard is good for this kind of usage, unfortunately BDO is the only ATM in town that accepts foreigh cards.

 

 

hong kong bank are very sneaky .they charge some nominal ammount per withdrawl but they lace the exchange rate so it doesnt show on the statement ..nice one.

Is that HSBC? It was recommended in a thread I can't find right now, but supposedly if you keep a certain balance, they don't charge a fee for transferring funds between your homeland account and your Philippines local account, and a "local" HSBC card would not attract the Kano tax in theory. But if they're rippin' you when they transfer inter-country, what's the point of banking with them in the first place. Jeez I dunno.

 

And now after reading about Dave's adventures with the revenue collectors, the game just got more complicated.

 

My bank here, ANZ (Australia & New Zealand) has an office in Manila, so perhaps the answer has been under my nose all the time. I'm off to talk to the bank manager.

 

 

 

I used HSBC now for about 4 years or so and so far no charges on withdrawing monies in Cebu. They told me as long as an online account there is no fees . No minimum balance. I have 2 ATM cards and I sent one to my sister and she is been using that to withdraw monies in HSBC with no charge. She can withdraw any amount up to 40k a day and there was never been a charge.

 

Also, I have a Charles Schwab Investor Checking account for the purpose of withdrawing money in foreign countries with no fees. They said any ATM. I haven't use that ATM card yet, since I didn't have a need of it yet.

 

Hopefully this will give you some options.

 

Lynette

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  • 2 weeks later...
Athena

The only ATM I have seen recently that does not have a 150 peso surcharge for using a foreign issued ATM card is BPI. In the U.S. this is common practice if you withdraw money from another bank"s ATM. I think Bank of America started the trend. Only relief is to make the largest withdrawals possible and minimize the number of withdrawals. My personal feelings about Bank of America can't be posted on a family forum.

 

I think Cary got it right when he said 'Kano' tax as in it is not a foreign card tax but related to a US bank charge. I have NEVER been charged one Centavo in 4 years for using an ATM here using my British Visa Debit card.

 

I, or my wife, have been using Australian ATM cards in the Philippines for three years+, and never copped this new surcharge ("tax") before, which commenced March 20 2010 (as was posted). The international ATM system (Cirrus/Maestro) is owned by Visa (can anyone confirm this?), so I'm not surprised a Visa debit card attracts no fees. But I'm sure the card does attract some monthly fees.

 

These ATM fees, fees for using a foreign card are now going worldwide, Chile, Thailand, Argentina and now Philippines are charging them.

 

That's true ........ visa system is notorious for charging foreign withdrawals in ATM cards. Your bank could probably be not just a visa card issuer but also a Link network member and would also carry the link logo as well as the visa logo. In the early days Link networked members doesn't charge atm withdrawals. But bank card issuers who are also link network members had been fighting the right to charge ATM withdrawals. And they are increasing in numbers. But most building societies link member doesn't charge for atm withdrawals for ATM cards that are issued by other banks/societies as long as they carry the link logo.

 

However, foreign banks whether a member of the Link Network or not charge for ATM withdrawals but not as high as visa. So, I was rather pleased to read that you are not charged in PI (ATM withdrawals) as Europe-outside UK does.

 

Jesse does MG have Philippine bank account?! Why not try this site, if its any use to you. Its cheaper sending the money online where you pay a flat fee and MG can collect it in her PI bank account either thru personal withdrawal or using ATM cards (PI issued card). I haven't use this myself so I cannot really vouch this. I used PNB but as I think there is no PNB-Australia yet. But most Australian OFW use this site instead. They seems to have a good exchange rate too ..........

 

http://www.pesoepadala.com/index.php

Edited by Elinel
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