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tranfering funds from uk


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The problem in UK is not only the choice of banks but also the volatile exchange rate. And as I am a stingy git, every penny counts ............ I would suggest to the OP to have a look at the charges and limitations of both PNB-online and Orbit remit and compare where he is better off in terms of money save and convenience.

 

Becoming Scottish, Athena? biggrin.gifbiggrin.gif

 

 

 

Mark

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lazydays

Oh yes they will - if you bank with HSBC. HSBC recently sent my new UK Debit and Credit cards to the Davao branch. They took less than a week to arrive here.

 

I had been a loyal Lloyds customer for almost 52 years but when they told me that they would charge £75 + 5% to transfer money to the Philippines and it would take ten working days, I looked for another bank. I went into my local (small town) branch of HSBC and spoke with the manager. Within one hour all my accounts from Lloyds were closed and transferred and he spoke with HSBC International Banking and arranged for both Sterling and Peso accounts to be opened. I arrived in Cebu ten days later and collected my ATM cards which were waiting for me. I pay absolutely nothing to transfer funds to and from the Philippines, provided I do it all online. And it's immediate.

 

 

 

 

Mark

Mark;

I should not have forgotten, there are exceptions to every rule. :thumbs_up:

 

I presume thats a Premier Account with HSBC.

 

Your experience with Lloyds (i am an ex Lloyds customer also) just shows that with many Banks today, customer loyalty means nothing.

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Mark;

I should not have forgotten, there are exceptions to every rule. :P

 

I presume thats a Premier Account with HSBC.

 

Your experience with Lloyds (i am an ex Lloyds customer also) just shows that with many Banks today, customer loyalty means nothing.

 

I have been with NatWest since 1970.

 

I asked the manager of my local branc did that info show on his "screen" of my account details.

 

His reply was "No"

 

They do not care the Wanker fecking Bankers. IMHO

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Julian C Thong

I agree with Broden, pay in a cheque. I transfer 6 months at a time - takes a month of working banking days to clear, sp can be up to 6 weeks if there's lots of bank holidays.

 

With electronic transfers there have been changes for sums over £5k and a big hassle now.

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Mark;

I presume thats a Premier Account with HSBC.

Yes, I am a Premier customer. My accounts, both here and the UK, were converted to "Premier" status by an account executive in Cebu - at her recommendation. And it cost me nothing!

 

I agree with Broden, pay in a cheque. I transfer 6 months at a time - takes a month of working banking days to clear, sp can be up to 6 weeks if there's lots of bank holidays.

 

With electronic transfers there have been changes for sums over £5k and a big hassle now.

Because of PDIC guarantee, I won't keep more than about two thousand pounds in my accounts over here. Since it takes all of three minutes to do an immediate funds transfer, that's never been a problem.

 

 

Mark

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Oh yes they will - if you bank with HSBC. HSBC recently sent my new UK Debit and Credit cards to the Davao branch. They took less than a week to arrive here.

 

I had been a loyal Lloyds customer for almost 52 years but when they told me that they would charge £75 + 5% to transfer money to the Philippines and it would take ten working days, I looked for another bank. I went into my local (small town) branch of HSBC and spoke with the manager. Within one hour all my accounts from Lloyds were closed and transferred and he spoke with HSBC International Banking and arranged for both Sterling and Peso accounts to be opened. I arrived in Cebu ten days later and collected my ATM cards which were waiting for me. I pay absolutely nothing to transfer funds to and from the Philippines, provided I do it all online. And it's immediate.

 

 

 

 

Mark

 

This isn't surprising. To a very large extent Lloyds is a domestic UK bank. As such, they might have had to go through several correspondent banks to get to the bank you chose in the Philippines. Its got nothing to do with Lloyds being a bad bank - indeed prior to the HBOS takeover they were considered to be a very well run bank. You were asking them to do something that wasn't plain vanilla for them, and so you will have to pay accordingly.

 

Its not the case with HSBC. They have banks all over the place, so can just do a straight transfer.

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Julian C Thong

Beg to differ Mark. Now HSBC do not allow internet banking transfers unless you go into a branch in the UK. Indeed, if you confirm to them you do not live in the UK they will close your account. All to do with money laundering. As you know you can prove domescial with an address in the UK where you get at least one services account or spend at least 30 days in the country each year.

 

This has been confirmed to me in writing on my internet banking account. After the last electronic transfer they said I had to call in to the bank in the UK.

 

How do you do it and circumvent their rules, certainly for internet banking?

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