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


expartedd

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David Spicer

 

 

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.

I have both Peso and Dollar ATM accounts. Both accounts are enrolled in BPI Express Online. I fund the Dollar account by depositing a personal check from my US credit union and it clears in about 25 days. I move Dollars to my Peso account online at my convenience, and use a BPI ATM to withdraw funds from the Peso account. I have been doing this for about 3 years and have yet to have a single problem. Best of all, it's completely free of any fees.

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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.

I have both Peso and Dollar ATM accounts. Both accounts are enrolled in BPI Express Online. I fund the Dollar account by depositing a personal check from my US credit union and it clears in about 25 days. I move Dollars to my Peso account online at my convenience, and use a BPI ATM to withdraw funds from the Peso account. I have been doing this for about 3 years and have yet to have a single problem. Best of all, it's completely free of any fees.

 

 

isnt there a fee to deposit the check //// and another fee when turning dollar into peso ?

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isnt there a fee to deposit the check //// and another fee when turning dollar into peso ?

 

No, BPI does not charge those fees.

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No, BPI does not charge those fees.

 

 

some banks dont charge for the check but all banks have a buy and sell spread on changing money and banks usually get .75 peso per dollar

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Brucewayne

I have both Peso and Dollar ATM accounts. Both accounts are enrolled in BPI Express Online. I fund the Dollar account by depositing a personal check from my US credit union and it clears in about 25 days. I move Dollars to my Peso account online at my convenience, and use a BPI ATM to withdraw funds from the Peso account. I have been doing this for about 3 years and have yet to have a single problem. Best of all, it's completely free of any fees.

 

I have the ability to do this as well, but the BPI in Ayala is open 7 days a week and we like going there now and then.

I suppose if I needed to send a larger amount to my account, I could send to my dollar account as well and wait for the Peso to adjust a bit and transfer it to my Peso account as well.

I could then use my ATM card instead of cash if I could find a place that accepts them.

That seems to be a problem lately, finding a place to accept ATM cards so you don't have to carry cash.

The card counterfeiters made sure to hurt everyone here, didn't they?

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anyone with a bunch of jelly jars and a backyard to bury them in can be a bank

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lazydays

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

 

Yeah the wet markets are cheaper in the rural areas, but we find the packaged, canned and bottled stuff etc a little more expensive.

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Stranded Shipscook

Here is an "annoyance" i encountered. They charge 50 php for Bank "transfer" over the counter to another account within the same banking organization ( such as paying bills at suppliers).

 

On the other hand, having an ATM account is free when one has a balance of 1,- php (City Savings Bank) or 2000php ( Metrobank )

 

I can only speak about Germany,where i was charged a monthly service fee (although tiny) for my private account, and a hefty Transaction fee for virtually anything on my business account.

(ok,100 Transactions are free, but i had about a thousand monthly)

 

Looking at those old statements i feel quite happy again in the Philippines.

 

Of course, Banks charge nothing even in Germany when the account holder has somewhat 20k or more parked on them, but who "parks" money without use ? The Interests are so low (anywhere in the world) , that inflation eats the money.

 

Current joke in Germany (virtually translated) "Interest rate" = "money destruction program."

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Brucewayne

anyone with a bunch of jelly jars and a backyard to bury them in can be a bank

 

 

Yards in Cebu?

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Yards in Cebu?

 

depends on what is is

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David Spicer

some banks dont charge for the check but all banks have a buy and sell spread on changing money and banks usually get .75 peso per dollar

What you see online is of course bank to bank and not the public rate. I normally get between 15 and 25 centavos off the current rates shown online when I buy Pesos online via BPI Express. If the current rate is not to my liking then I have the option of checking back later. Of course these days that can also backfire on you. BPI owns their own FX trading company, which is what they use, so their rates are normally pretty good online.
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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.

 

Maybe you did not read my reply to you? I have no passbook, was never given one, it's a dollar account with atm card.

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\

 

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

 

Knew all this in advance. This is precisely why I have not put more money the banks here. They cannot be trusted, simple as that.

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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.

 

I will check on this, you may be correct. But you don't have to be old or confused to have banking problems here.

It's a screwed up system, and the banks cannot even make and follow a consistent policy within their own organization.

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