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"Banks" that aren't real banks...


expartedd

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I have come across a few posts here and there that state that depositors to P.I. banks must go to the home branch where they opened the account to withdraw their own money from inside the bank. I find this incredible and if it's true it is a great obstacle to anyone who does not want to rely on high ATM fees with frequent thefts of funds from ATMs wherein the account is debited but no money comes out (a frequent occurence-google it). Maybe this is one reason so few Filipinos have bank accounts.

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I have an account with BPI and they have plenty of ATM machines around the place. No fee's for using the ATM machines. I also have a chequeing account.   Both accounts are free as long as a minimu

NOTE to members the best ATM in cebu to get really large amounts of money is in the major hospitals

I have been banking with BPI for about 3 years and quite happy with them. They are the oldest Philippines bank, and you can do transactions at any location.

smokey

I have come across a few posts here and there that state that depositors to P.I. banks must go to the home branch where they opened the account to withdraw their own money from inside the bank. I find this incredible and if it's true it is a great obstacle to anyone who does not want to rely on high ATM fees with frequent thefts of funds from ATMs wherein the account is debited but no money comes out (a frequent occurence-google it). Maybe this is one reason so few Filipinos have bank accounts.

 

 

 

that could be true and banks like to make money .... its really common business practice it was found in the poorest areas of Los angeles common food items cost more ,,, reason people tend to shop day by day and many can not afford to drive around and shop better prices... i think the philippines is like one giant los angeles

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jusjoseph

Yes, the Sheeple of the PI allow the banks to charge them to send funds to another branch of the same bank.

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Skywalker

I have an account with BPI and they have plenty of ATM machines around the place. No fee's for using the ATM machines. I also have a chequeing account.

 

Both accounts are free as long as a minimum amount is kept in each account. From memory I think 6000 in the cheque account and 3000 in the ATM account.

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Brucewayne

I go to BPI to withdraw funds on Sat or Sun when my regular branch is closed.

I bank at SM across from National Book Store.

I've never had any problem withdrawing from my account at any of their branches and use only my bank book, no ID required.

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RogerDuMond

The only problem with HSBC is there is only 1 branch in Cebu, but the ATM is 24 hr. and 40,000 peso per transaction limit. Don't know if there is a transaction limit, but I have taken 80k at 1 time. Also it is truly a world bank. I can transfer funds in from any HSBC bank where I have an account and the transfer is instantaneous.

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Skywalker
I can transfer funds in from any HSBC bank where I have an account and the transfer is instantaneous.

 

What is the exchange rate like?

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RogerDuMond

What is the exchange rate like?

 

Usually at least 1/2 peso higher than Metrobank and PNB.

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smokey

The only problem with HSBC is there is only 1 branch in Cebu, but the ATM is 24 hr. and 40,000 peso per transaction limit. Don't know if there is a transaction limit, but I have taken 80k at 1 time. Also it is truly a world bank. I can transfer funds in from any HSBC bank where I have an account and the transfer is instantaneous.

 

 

 

NOTE to members the best ATM in cebu to get really large amounts of money is in the major hospitals

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BDO bank operates this way. Each BDO branch operates independently so if you try to access your funds from a BDO branch but your account is in another BDO branch, they will charge you P200. For deposit they charge P50. For term deposit it is even worse because if you want to cash the term deposit you must go to the original BDO branch as no other BDO branch can do it for you. Very inconvenient.

 

seaman

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lazydays
ATMs wherein the account is debited but no money comes out (a frequent occurence-google it).

 

That was very true a few years back but things have improved quite a lot since, not perfect but much better.

 

 

it was found in the poorest areas of Los angeles common food items cost more

 

Something my wife and i have noticed visiting her rural PH province, many things are a few peso more expensive than in Davao City. Milk and bottled Water are just two examples that come to mind.

I tend to put it down to extra transport costs in this case.

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smokey

That was very true a few years back but things have improved quite a lot since, not perfect but much better.

 

 

 

 

Something my wife and i have noticed visiting her rural PH province, many things are a few peso more expensive than in Davao City. Milk and bottled Water are just two examples that come to mind.

I tend to put it down to extra transport costs in this case.

 

 

 

i used to think that way also but its really a captive customer ....

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CardiacKid

I go to BPI to withdraw funds on Sat or Sun when my regular branch is closed.

I bank at SM across from National Book Store.

I've never had any problem withdrawing from my account at any of their branches and use only my bank book, no ID required.

That is because BPI is the only bank that allows this. All the others still seem to be stuck in the 1800's. That alone would make BPI my choice.
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David Spicer

I have been banking with BPI for about 3 years and quite happy with them. They are the oldest Philippines bank, and you can do transactions at any location.

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