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What is the best choice for a bank?


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David_LivinginTalisay

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.

 

However HSBC has 'partnered' with BPI and Land Bank, such one can withdraw from their ATM's also, with no Charges for Withdrawal, so that means there is plenty of ATM access with HSBC.

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JamesMusslewhite

PNB was always been good to me, their ATM card works everywhere I have traveled through the Philippines, and they have branches in most cities and large towns in the Philippines. http://www.pnb.com.ph/

Edited by JamesMusslewhite
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Whatever bank you choose make sure they are able to do transaction like deposits, withdrawals and such at any branch. MANY banks here require that you go to your original branch to do these, or they charge you a fee! Really sucks some times. BPI banks are all networked, plus they have a very good customer satisfaction rating!

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Whatever bank you choose make sure they are able to do transaction like deposits, withdrawals and such at any branch. MANY banks here require that you go to your original branch to do these, or they charge you a fee! Really sucks some times. BPI banks are all networked, plus they have a very good customer satisfaction rating!

 

I have tried several times to use my american express kreditcard at BPI ATM's with no luck, if I go to a BDO atm no problem and there is no bank charge of 200 peso for american express, if I use my mastercard at BPI or BDO there is a charge of 200 peso added

Edited by Woolf
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Headshot

I use BPI here. I have a dollar account and a peso account. Both are savings accounts with ATM cards. I have my credit union back in the States wire money to my BPI dollar account, and then...when the exchange rate is right, I move money over into the peso account. By keeping the dollar account over $500 and the peso account over 10,000 pesos, I avoid most fees. BPI has branches at pretty much every mall in the Philippines...in addition to other branches scattered around in the various cities in the Philippines. BPI's ATM machines are pretty much everywhere, but if you can't find one, BPI's ATM cards work in most of the other ATM machines as well (there is usually a fee for using other ATM machines, so I try to find a BPI ATM machine before I use an alternative machine). Oh...and I can perform any transaction at any BPI branch.

Edited by Headshot
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Whatever bank you choose make sure they are able to do transaction like deposits, withdrawals and such at any branch. MANY banks here require that you go to your original branch to do these, or they charge you a fee! Really sucks some times. BPI banks are all networked, plus they have a very good customer satisfaction rating!

 

I have tried several times to use my american express kreditcard at BPI ATM's with no luck, if I go to a BDO atm no problem and there is no bank charge of 200 peso for american express, if I use my mastercard at BPI or BDO there is a charge of 200 peso added

 

And what does that have to do with this thread? LOL He asked what was a good bank here, not which cards their ATMs accept. The are so many interbank networks now it's not funny. Not every bank will be affiliated with all of them.

 

Multiregional

Cirrus · Maestro · PLUS

Africa

CashNet · CMI · Interswitch · SASWITCH

Asia Pacific

1LINK · ACS · ALTO · atm5 · ATM Bersama · ATM Pool · BancNet · Banknetvn (Vietnam) · BANCS · Bankline · Cashnet · CashTree · Dutch Bangla Bank Nexus · eftpos

ENS · ETC · Expressnet · FISC · JETCO · EPS · Link · MICS · MEPS · MegaLink · MITR · MNET · NFS · Nationlink · Omnibus · Prima · SmartLink (Vietnam) · UnionPay · Vietnam Bank Card (VNBC) · Yucho

Caribbean

ATH · Caricard · CarIFS · InfoLink Services Limited · Midas · Unired

Europe

4B · Altın Nokta · BamCard · BankAxept · Banklink · Bankomat · BKM · CB · DIAS · Equens · Eufiserv · Euronet · Euro 6000 · Girocard (Cash Group, CashPool, Bankcard-Servicenetz) · LINK · Multibanco · Ortak Nokta · Otto. · Sbercard · ServiRed · StarNet · Transfond · Zolotaya Korona

Middle East

123 · BANCS · Bankernet · CSC · JoNet · NAPS · OmanSwitch · Shetab · SPAN · UAE Switch · Benefit

North America

Abby · ACCEL/Exchange · Access 24 · Advantage · AFFN · Alaska Option · Alert · Allpoint · Annie · ARN · Award · BankMate · BOH · Cash Station · CashStream · Checkokard · CO-OP · Credit Union 24 · Credomatic · Discover Network · Easy Answer · Express · Express Teller · Fastbank · Gulfnet · HandiBank · Handy 24 · Honor · Instant Cash · Instant Teller · Interlink · Interac · Jeanie · KETS · LYNX · MAC · Magic Line · Member Access Pacific · Minibank · Money Belt · Money Network · MoneyMaker · Money Station · MOST · MPact · Networks · NYCE · Peak · Presto! · PROSA · Pulse · Quest · RED · Red Total · SC 24 · Service Card System · SHAZAM · STAR · SUM · The Exchange · Transact · Paymenex · Transfund · TX Network · Tyme · Universal Money Center · Via · X-PRESS 24 · Yankee 24

South America

Banco 24 Horas · RVA · Banelco · Banred · Conexus · GlobalNet · Link · Redbanc · Suiche 7B · Telebanco · Unicard

Edited by Bob Ward
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Has anybody here tried Charles Schwab High Yield Investor Checking Account. According to Schwab you can use your atm card all over world without any fees (my understanding). They will refund any fees that is being charge.

 

Lynette

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johnormoc

I'd avoid China Bank. My wife had a China Bank account when we first met. I didn't have a bank account yet in the Phils so I'd use hers, When I arrived in Cebu, I'd change dollars to peso and then deposit the pesos in her China Bank account rather than carry around cash. Or at least that was the plan. When we went to the branch on Ramos near the Diplomat Hotel, they told me since my wife's account was opened in Ormoc City, it was considered a provincial branch account and they wanted us to pay an P800 fee to deposit P100,000. I thought having a China Bank account would be the same no matter where the account is opened but apparently not. China Bank's policy is if you open an account outside of Cebu, Manila or the larger cities then you must pay a service fee to use China Bank at locations other than your provincial area where you opened the account. Totally ridiculous. I've never heard of a bank charging a fee for a DEPOSIT!!!!

 

The second bad experience I had with them was after we'd opened a joint dollar account with them in Ormoc at the wife's branch, I wanted to deposit a personal check. I made the check out for $7,000, filled out the deposit slip and handed it to the teller. They told me the check was too large and they couldn't accept it. They asked if I could make out two checks for $3,500 each instead and deposit them a week apart. At this point I decided China Bank is not really a bank. at least not the kind of bank I want to do business with.

 

Use them at your own risk. IMO they are a sketchy operation with asinine and unethical business practices.

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sandwindstars

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.

 

Any US bank anywhere in the world. For the Philippines, I would recommend HSBC, Metrobank, BPI.

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BDO and BPI.

 

Bdo has branches that are open even on sundays in SM

BPI allows you to do transaction in any branch as if its the branch where you opened your account.

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BPI. Used it for about 8 years. Very Satisfied. Have both USD & Peso accounts. USD is savings only and Peso one is ATM Card. Deposit checks drawn on my US Wells Farfo Bank and funds available in 3 or 4 days. Like others I play when is the best exchange time and withdraw dollars, exchange and deposit in my peso account.

BPI is one with many branchs and ATMs around the country.

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  • 2 months later...

Wondering if someone could further clarify....obviously I'm not going to arrive with big wad of cash for a month-long trip but I will need conceivably need several thousand dollars. What I've read thus far seems to be in favor of opening a bank account in Cebu on arrival, with a bank that has branches everywhere (including Negros) . From what I gather, you don't need much money to open one and then you can immediately arrange a money transfer from your home bank? is that how it works? What about sending the remainder home when you are leaving? i don't want to leave any money in a PH bank before I have decided to move there permanently. Please advise.

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RogerDuMond

Check out this old topic.

http://www.livinginc...__1#entry161863

 

If the Premier account isn't for you go to the HSBC website. As far as I know HSBC is still the only bank that allows you to transfer money between HSBC accounts in different countries without charge and you can set up an account at HSBC Philippines from your HSBC bank in your home country before arriving in the Philippines.

Edited by RogerDuMond
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mpt1947

Wondering if someone could further clarify....obviously I'm not going to arrive with big wad of cash for a month-long trip but I will need conceivably need several thousand dollars. What I've read thus far seems to be in favor of opening a bank account in Cebu on arrival, with a bank that has branches everywhere (including Negros) . From what I gather, you don't need much money to open one and then you can immediately arrange a money transfer from your home bank? is that how it works? What about sending the remainder home when you are leaving? i don't want to leave any money in a PH bank before I have decided to move there permanently. Please advise.

 

Well you have read Roger's response and I am not in that league of being able to open an account at HSBC -

 

You are planning on being here for 30 Days? You know you are only allowed to bring in $10,000 Cash -

 

Why not just live off your Plastic - Pay for most of your needs with your ATM/Debt Card or Credit Card - Transaction Fee will be between 1% and 10%

If you use your ATM Card to get Cash - there is usually a 200 Peso fee at the ATM Machine @ 40/1 that is $5

 

If you just don't trust Plastic and need to have cash - make sure your bills are crispy new - Stories go around that local banks and Exchangers won't take old bills -

 

IMHO

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mpt1947

Check out this old topic.

http://www.livinginc...__1#entry161863

 

If the Premier account isn't for you go to the HSBC website. As far as I know HSBC is still the only bank that allows you to transfer money between HSBC accounts in different countries without charge and you can set up an account at HSBC Philippines from your HSBC bank in your home country before arriving in the Philippines.

 

LOL - I read through the link you provided - I am such a low roller, I am going to have to follow you around and pick up the loose change that falls out of your pockets.... :scratch_head:

 

For any other low rollers out there - I transfer money from my US Checking Account via Remit Home to my wife's Philippine Bank Account once a month $8 to &10/transaction Max $1000/Day. Access the rest via my ATM/Debt Card - if use the Debt Card (VISA Logo) there is a 1% fee per transaction. If I use the card for ATM Transaction there is a $5 Fee (@40/1)

 

I am the expat that DOESN"T live like a king

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