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What is the best choice for a bank?


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I want to open a savings account in Cebu with a major Philippine bank. Preferably with branches/ATM's all over the Philippines. Which bank would be the best choice? Thanks........

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I would guess that BDO is one of he bigger banks, but I prefer Bank of Philippine Islands (BPI)

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TheMatrix

In my opinion, the best bank for ability to make transfers, customer service, and reliability is HSBC. Check out this thread.

http://www.livinginc...=1

 

I agree, HSBC is the best, but they don't have near as many branches as other banks here.

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lazydays

HSBC,but you are very limited with branches,only in Manila,Cebu and Davao City that i know of.

The 3 biggest PH banks with branches and ATMs all over,are BDO,BPI and MetroBank.

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A_Simple_Man

Different banks have different withdrawal limits. All the bancnet banks can be accessed through just about any ATM here. I chose RCBC Savings Bank because their limit is 20K pesos X 2 transactions daily and you only needed a minimum deposit of 500 pesos. Additionally, their lineups are consistently shorter than many other banks on the rare days I have to conduct business inside.

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BDO Terminals and online banking is down 25% out of the year...I know, I've used them for three years. Serious pain in the ass.

 

Chinabank systems are more reliable. Metrobank as well. China bank ATM's and branches are expanding and found in most areas.

Same thing with HSBC, just fewer branches.

 

Although, for a Savings (dollar and peso) I recommend Chinabank.

Edited by BigRob
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after i lost my ATM card and having trouble with online banking, the manager at RCBC Tabanuk saw us A/H. n using her own laptop n in conjunction with manila office helped us transfere money to our account available in 2 days. Sure was a pleasure dealing with this lady.

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Julian C Thong

If you're with HSBC your atm will work in most places. You have to keep a fair wad in there though. For a sterling account, a minimum of £1000 at all times.

Edited by TommyStubbing
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  • 2 weeks later...

I have a UK accounts with HSBC, Nationwide and Santander. I manage all of them online from the Philippines without difficulty. I considered the international HSBC account but it seems very costly. The Nationwide until recently had a no charges debit card which meant I could use it here and get an up to the moment exchange rate without any deductions. However, along with all the other high st banks they now make charges.

 

My solution is to have a BPI star account. This is a UK based account (they exist in the USA too) which is linked to the UK banking system. I transfer funds online into this account in sterling. Matching this and linked to it is a Philippine based savings account. Both accounts can be managed online so at the click of a button I can transfer between the UK and the Philippine at that days rate, which follows very closely the current exchange rate and generally matches that offered by remittance services. There is a flat charge of

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American citizens should be aware that if they open an account with Citibank, they will have to sign additional forms as part of Uncle Sam's War on Mony Laundering. These forms expose the account holder to additional scrutiny from all branches (IRS, Treasury, Homeland Security, CIA, FBI, etc., etc.) of the USA government.

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  • 3 weeks later...

I opened a peso savings account yesterday at BDO, to my surprise it was very easy.

 

Just bring:

Passport

Temp. ACR card

1 id picture 1 x 1 inch

2000 peso (minimum deposit)

 

I wanted atm card only (no book), next friday I can go to the branch and pickup my atm card

 

why BDO?

I found that it is the bank with most atm locations, and only once or twice did I have any problem

getting cash from any of their atm's

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