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Can a non resident open a local bank account?


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In case any newcomers haven't read the earlier posts. You can open a peso savings account at commerce bank with no acr and no local address and you don't even have to be in the philippines to open the account! You do have to physically go there however to sign the paperwork and collect your atm card before you can make any withdrawals however. Neither is there anything illegal about this as banks set their own rules as to what requirements they have for foreign account holders. (Though obviously their are some rules they must adhere to.)

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I tried doing what Markham did but the HSBC Bank here told me that my HSBC account in the US meant nothing as the banks are not affiliated. I can use the ATM, but that's all I can do. I already have a BDO account so I did not need to pursue it further.

Bob, well although what you were told is not strictly true - HSBC advertises itself as "the world's local bank" - you can not, as a foreigner, go into HSBC here and open accounts on the strength of your existing relationship with HSBC in the US. That is something you have to do in the US through HSBC's International Banking Centre. You can also apply online using HSBC.COM if you have already registered for Internet Banking in the US. Also, if you are a Premier customer (and have a Premier ATM card issued in the US), try calling into the Premier Banking Center at HSBC's office in the Taft Building, Cardinal Rosales Avenue (opposite the Marriott Hotel).

 

 

Mark

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