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Joint bank account?


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batman2525

Hello

 

Thanks for the answers, I got misunderstood (have to put that on my bad English).

We are not married yet, but we wish to open a joint bank account.

Of course she would also have a card if possible but the important thing is for me to get an ATM card since this account will be used for the wedding expenses and other costs as well.

 

Asking about the card since back here a joint account means only one card (and for a secondary card you sometimes have to dish up to the equivalent of 5K piso)....

 

The main point, in this case, being allowed to open a joint account without me being a resident and not being married yet.

 

Basically I don't see myself carrying 400K piso in cash on me all the time nor do I wish to make a wire transfer to her account since it would mean paying at least 15K piso in commissions and fees........and neither do I wish to use my own overseas ATM, debit/credit cards since the commissions/fees are also ridiculous + the amounts I can take at the ATM are also far too low and this is too much hassle anyway

 

 

When I first moved to Florida many years ago and got married there to my now ex(U.S) wife ,I opened a bank account in both our names...couple of months later I had a call from the manager to go see her...she wondered why my wife had been spending sometimes $2000 a day.....I cancelled her right there and then...and swore never to share a bank account with anyone ever again.....that was more than 30 years ago.

good luck.

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joint account ..the true litmus test of a marriage!

batman2525

I've opened three sole-owner peso accounts at three different banks as a foreigner on merely a tourist visa. Each time it was a non-event. Didn't seem that I was bending any rules. I'll give branch names via PM for anybody in need.

 

J

 

when was this?I tried three banks last jan/feb and all of them(china bank,BPI and BDO) all wanted to see the ARC card.

thank you.

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towboat72

Thank you for the tips. Unfortunately I am not a resident nor am I yet married so I guess it will be a no no for me for a personal account.

Unfortunately citi here charges huge commissions if I withdraw in a foreign country and so do all my other cards....

 

Thanks for xoom will see if it is available in Europe

 

 

citibank told me that for me to use my atm card in cebu would cost me 3% .

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towboat72

Foreigners cannot open a peso account only. They first have to have a foreign account, then transfer to the peso account. At HSBC, I have two ATM cards: one for USD and the other for Peso. You can have the USD ATM card, and your gf the Peso account ATM. You can transfer online from USD to Peso, or at the branch accordingly. It's basically your account under your control, but your gf can still access the pesos when she needs them.

 

 

now thats funny because at bank of the phill i can have a peso acct but not a dollar acct unless im married to a phill.

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ancienrocka

Foreigners cannot open a peso account only. They first have to have a foreign account, then transfer to the peso account. At HSBC, I have two ATM cards: one for USD and the other for Peso. You can have the USD ATM card, and your gf the Peso account ATM. You can transfer online from USD to Peso, or at the branch accordingly. It's basically your account under your control, but your gf can still access the pesos when she needs them.

Sorry mate, I have no idea whether or not that's the law but it's not the practice.

 

I have had a sole account for over 4 years and have helped many clients do the same, the last time being 2 weeks ago.

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This, simply put, is not true. I have several Philippine Peso accounts, in different banks.

me too

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when was this?I tried three banks last jan/feb and all of them(china bank,BPI and BDO) all wanted to see the ARC card.

thank you.

i don't know what an ARC card is but we have several accounts at BPI and China bank and only used our passports

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i don't know what an ARC card is but we have several accounts at BPI and China bank and only used our passports

 

An ACR (Alien Certificate of Registration) card is issued by the Bureau of Immigration... required if you are here for a certain length of time (six months as a tourist I believe?)

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Davaoeno

Just a suggestion based on what works for me. Separate accounts at the same bank. Funds can be transfered on line between accounts instantly. You want to withdraw 80K instead of 40K? Easy when you do it this way because you go on line and transfer 40K to her account then go to the ATM with both cards and take 40 on each. Want her to have access to your money in case of emergency? Easy, she goes on line with your password and transfers all your money to her account. Want to stop her from getting access to your money? Easy, just go to bank and change your password. I have yet to find a downside and had no problems opening these accounts as a 'perpetual tourist'

 

uh, what if she goes online with your password and changes the password ? tongue.png

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