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Why I Love Banking In The Philippines


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I was charged to DEPOSIT money in my account from another branch! This happened at Metrobank, Dumaguete City, some years ago.

 

I think banking here is like franchising rather than a banking "system" owned by the mother ship. Seems to be that way!

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I think banking here is like franchising rather than a banking "system" owned by the mother ship. Seems to be that way!

 

 

Well said, why didnt I think of that?

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Went to BPI...and for the record transaction is finish in less than 10 minutes and inter-branch banking charge from CDO to Manila...no charge!!!! Tellers are fast and not even my fave Allied Bank ( because I have friends there) here in CDO could bet it!.. Hope that Equitable Bank will just even be half as good and efficient! :wink:

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Hey Bob .... had to laugh at the HSBC Primer Account you mentioned ...... I have a HSBC Direct account and was on-line checking it out when I ran across the Primer account info ..... I got all excited as it states you can go anywhere in the world and us any HSBC bank to open accounts and do business ........ I said to my self ...self .....here is the answer to your Phils banking problems ...... just open a Primer account and open an account in the Phils anywhere that HSBC does business ........

 

I was so excited that I saw the $100 and said to my self ......... self ......you can open an account for $100 ........ as you have to call them by phone and it was late I said ....h*ll .... i'll just call in the morning ....... well looking a little closer at the requirements I discovered that instead of $100 ........it was $100,000 .................... well being as I was just a little short on cash at the moment I decided to for go the Primer account ........... what a shame it is a great account ......

 

 

And that's my story and I'm sticking to it ......... :wink::D:) :) :P

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tom_shor
Hey Bob .... had to laugh at the HSBC Primer Account you mentioned ...... I have a HSBC Direct account and was on-line checking it out when I ran across the Primer account info ..... I got all excited as it states you can go anywhere in the world and us any HSBC bank to open accounts and do business ........ I said to my self ...self .....here is the answer to your Phils banking problems ...... just open a Primer account and open an account in the Phils anywhere that HSBC does business ........

 

I was so excited that I saw the $100 and said to my self ......... self ......you can open an account for $100 ........ as you have to call them by phone and it was late I said ....h*ll .... i'll just call in the morning ....... well looking a little closer at the requirements I discovered that instead of $100 ........it was $100,000 .................... well being as I was just a little short on cash at the moment I decided to for go the Primer account ........... what a shame it is a great account ......

And that's my story and I'm sticking to it ......... :):D :D :D:)

 

 

Just write them a check. If it bounces write them another one just like it :)

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  • 5 weeks later...

I use HSBC (formerly Midland Bank) in the UK. Had a premier account when I was working but you have to have a big monthly income to keep it. I think they cahrge more than

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I have a standard HSBC account that I set up here in Liverpool, England. When I visited the Philippines I was able to withfraw money using my debit card. I'm not sure how they work out the exchange rate I recieved via ATM withdrawals. When I checked my on screen balance it was in English Pounds but when I withdraw I entered a Philipines Peso amount so I had to do some guess work on how much I could withdraw.

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ADD TO THE LIST

 

Only country i know when the foreigner dies & no one has the pin # for his atm account where the local attny can go to the bank , slip 20,000 under the table to the branch manager & wa..la.. you have a new atm card & new pin . Amazing how efficient filipinos can be when the need is there ? :rolleyes:

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  • 2 weeks later...

1 I love taking 2 hrs to do 3 minute transaction ?

2 I love being told " system is down "

3 I love being told " no power "

4 I love being told " no power : system is down "

6 I love being told " we are out of money "

7 I love being client number 176 when there are maybe 40 seats in the whole bank

8 I love the fact that if they have 6 tellers , 2 are waiting on customers , 3 are shuffeling papers and 1 is walking around doing nothing .

9 I love the fact that no one fills out their withdrawal slip until they get to the counter , unless they are foreigners .

10 I love the fact that your bank changes hands 3 or 4 times a year ?

 

My sentiments exactly, about the only thing that you left out, was the sweltering heat and no air con.

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For those of you with a USA address, Citibank in the USA offers and online only e-savings account with no minimum balance and all you have to do to get it is to open or have an existing checking account with them, which BTW also does not have to have a minimum balance and they are paying 3% on the e-savings account.

 

added. For no fees you do have to have direct deposit or pay a couple of bills online or keep a minimum balance.

 

Their ATM card works in the Philippines at any Citibank or Citibank Savings bank and when you use the ATM card I have found that the exchange rate is pretty close to the actual exchange rate listed in the papers or at the banks and money changers.

 

If you use your ATM card at a Citibank, you can withdraw in pesos or dollars and at their sister Citibank Savings bank you can get only pesos.

 

I decided to add that you can also transfer money online back and forth to your Citi accounts and also other banks once you link them.

 

And best of all your money is insured to $100,000 and not p200,000 that I think it still is in PI.

 

Here is the link if you wish to look at it.

https://web.da-us.citibank.com/cgi-bin/citi...UseBVCookie=yes

Edited by Mr. Lee
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