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


expartedd

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I just opened an account at ALLIED bank; both in pesos and dollars. I was told that I could withdraw money and use any ATM in the RP at no charge. However, I have never put this to the test. After this discussion, I will go into the Cebu branch tomorrow and verify again that this is true, because the only reason I opened an account with ALLIED is because I plan to spend a lot of time on Siquijor island, and ALLIED has a branch there, as well as in Dumaguete.

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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.

lazydays

I just opened an account at ALLIED bank; both in pesos and dollars. I was told that I could withdraw money and use any ATM in the RP at no charge. However, I have never put this to the test. After this discussion, I will go into the Cebu branch tomorrow and verify again that this is true, because the only reason I opened an account with ALLIED is because I plan to spend a lot of time on Siquijor island, and ALLIED has a branch there, as well as in Dumaguete.

 

 

I think you got the wrong end of the stick, they were talking about making deposits and withdrawing over the counter.

Always best to check though, especially for ATM use. :)

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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 minimum amount is kept in each account. From memory I think 6000 in the cheque account and 3000 in the ATM account.

 

Possibly that's true for Peso accounts. Here bpi charges 200 per atm withdrawal

This is a way of stealing from customers imo.

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Have you tried to do this from another city and branch of BPI? I was advised by posters at another forum that they have had problems getting out of town branches of the SAME bank to let them have access to their OWN funds (savings account,etc)

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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

 

BDO sucks imo. I visited the branch here and was treated with disdain like they don't want to deal with foreigners.

When the told me they would not open a dollar account without 6 mos as a peso holder , I told them to shove it and walked out.

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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.

 

Could you please be more specific. Have you, for example, travelled to another city and withdrew funds over the counter? What was the process; your experience?

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Brucewayne

Could you please be more specific. Have you, for example, travelled to another city and withdrew funds over the counter? What was the process; your experience?

 

I have and it was just like the branch I use here.

Go to the machine with your acct. #, fill out the transaction form, clear it and take your ticket.

Then you wait for your # (on your ticket) and hand them the passbook and sign the ticket.

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David Spicer

Could you please be more specific. Have you, for example, travelled to another city and withdrew funds over the counter? What was the process; your experience?

As of yet I've never had a problem either over the counter or using their ATM at any BPI branch in the Philippines.
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Stranded Shipscook

I currently use Metrobank , RCBC and City Savings Bank*. (And an old Standard Chartered Euro Account)

 

Metrobank charges 50 php for Transfers to Metrobanks on other Islands (cant change that, i need them due to suppliers)

But great ATM presence and seldom"offline".

 

RCBC is better free transfers if done at the ATM, if offline, they do it over the counter free.(often they do that anyway for me as Special Service) Fast International Transfers and good ATM's Nationwide.

 

I also had PNB (mixed feelings,but if you happen to have one next door..),

 

BDO ( Great Bank,but then hefty unexpected pays for "small things", and i quit in anger )

 

Unionbank - they saved my money during the Asian currency crisis and i am forever grateful to them. Otherwise i can't say much, i only ran investment accounts with them, but since 12 years nothing anymore.

 

City Savings Bank is more a private savings Bank ( Subsidiary of Unionbank ) I can't recommend them. I only use them coz they are one out of three banks in Balamban and many people pay with CSB checques.

 

HSBC and Citybank is what most foreigners use if they have International money, but if your money is here already, they don't have any particular advantage. ( maybe Prestige )

 

Banking "Safety" - as long as one stays with the regular banks and amounts , there isn't much to fear.

 

But hands off all rural or very local (not nationwide) banks, they promise a lot, but your money is in danger.

Edited by Stranded Shipscook
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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.

Yes, David is correct, BPI is the best for conducting transactions online and at branches throughout the Philippines. BPI is the only

bank in the Philippines who seems to be in the 21st century.

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I have and it was just like the branch I use here.

Go to the machine with your acct. #, fill out the transaction form, clear it and take your ticket.

Then you wait for your # (on your ticket) and hand them the passbook and sign the ticket.

 

 

By "machine" you're talking about the machine that dispenses waiting line numbers?

You have to enter your account number into that?

Also I do not have a passbook, it's a dollar account with atm card, but I won't be using the atm card-too many problems with atms here.

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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.

\

 

remember

!.that this is NOT YOUR home country,

#2 this is a 3rd world countrty.

#3. they dont believe in GOOD CUSTOMER service

#4 if you want good banking service here, USE BPI or keep your money under the bed

the reason that these ppl dont use bank accouts as they DONT have any money,

2, they dont have the capability to understand that they should save their money and

3. banks charge so much in fees that even saving anything , you have a low rate of return

Edited by ed villas
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Possibly that's true for Peso accounts. Here bpi charges 200 per atm withdrawal This is a way of stealing from customers imo.

 

 

THATS very VERY strange that they charge 200php just to use the ATM,. perhaps you mean that they CHARGE YOU 200p when you use OVERSEAS ATM card for withdrawal.

sometimes when we get older we can get some facts or issues confused.

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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.

 

Then again here in Southern Cebu, all fresh foods are much less expensive than Cebu City! Fish exceptionally so.

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Brucewayne

 

 

By "machine" you're talking about the machine that dispenses waiting line numbers?

You have to enter your account number into that?

Also I do not have a passbook, it's a dollar account with atm card, but I won't be using the atm card-too many problems with atms here.

 

 

You do receive a waiting number, but your transaction is also done at the machine, no paperwork.

All you have to do is to present your passbook and the signed ticket to the teller and you are finished.

It is faster easier and more convenient.

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