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Lauie

Withdrawing money while in the Philippines

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Lauie

Sorry if this has been asked before or if I posted it under the wrong section. I'm 2 days away from flying and haven't really put much thought about how to take out money from my US bank account once I'm in PI without paying a lot in charges. I called Wells Fargo and they unlocked my debit card for international use, but was informed that everytime I use it overseas there would be a charge of $5 something for every transaction including ATM withdrawal. Are there other ways besides traveller's check and using my debit card? The only other way I could think of is have my husband send money to my name with Xoom before we leave and we'll withdraw the money over there. This will work for as long as my husband is in the US, but he'll also be with me in the Philippines and from what I know, if you're sending money to the Philippines, you have to be outside the country, otherwise Xoom won't allow it.

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Paul

1. Screw Xoom. They suck.

2. How long will you be there? Have you considered bringing cash for the duration of the trip?

3. Do NOT take Traveler's Checks.

4. Do you have an existing bank account in the Philippines? Perhaps you could wire x number amount of funds into it?

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udonthani

you might come to the conclusion to just bring a bit of extra cash along with you initially and then use remittance type services like Xoom Orbit Remit and even Western Union. That sounds like it could be better for you than using an ATM, too much.

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Kabisay-an gid

If you have a peso bank account in the Phils with either Bank of the Philippine Islands, BDO Unibank or Metrobank - you can use the Wells Fargo ExpressSend service:

 

https://www.wellsfargo.com/per/intl_remittance/asia

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CardiacKid

Be aware that in addition to the $5.00 fee from Wells Fargo Philippine banks charge 200 pesos for each withdrawal. I would have your husband send money to you via a remittance service like NYBR available at many Filipino stores and bring dollars in $100.00 bills with him when he joins you. We have used NYBR for years and have never had a problem. They will deliver the money to you at your address here. 

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Paul

Too late to do so now. But, perhaps you could open an online account with HSBC, prior to your next trip over. The opening balance is MUCH lower than doing so in person, at a branch within the Philippines.

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Mariel

Too late to do so now. But, perhaps you could open an online account with HSBC, prior to your next trip over. The opening balance is MUCH lower than doing so in person, at a branch within the Philippines.

 

I was going to do that a few years ago, but the bank I wanted to open an account with (BDO) wanted a minimum balance of P5000. I ended up taking cash and then whenever I start to get short, I send money to myself (online with my own computer from PI) via moneygram using either my credit card. Never had problems.

Edited by Mariel

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udonthani

it is a ludicrous situation. Foreign exchange facilities in the Philippines were always poor, but they have not improved.

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smokey

Sorry if this has been asked before or if I posted it under the wrong section. I'm 2 days away from flying and haven't really put much thought about how to take out money from my US bank account once I'm in PI without paying a lot in charges. I called Wells Fargo and they unlocked my debit card for international use, but was informed that everytime I use it overseas there would be a charge of $5 something for every transaction including ATM withdrawal. Are there other ways besides traveller's check and using my debit card? The only other way I could think of is have my husband send money to my name with Xoom before we leave and we'll withdraw the money over there. This will work for as long as my husband is in the US, but he'll also be with me in the Philippines and from what I know, if you're sending money to the Philippines, you have to be outside the country, otherwise Xoom won't allow it.

 

wells fargo has a special acct to transfer money overseas to be picked up at the pawn shop or BPI no fee for you from wells  less then one peso per dollar on the bank side must do at the branch in person ...

Edited by Paul
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Lauie

2. How long will you be there? Have you considered bringing cash for the duration of the trip?

- a little over a month

 

4. Do you have an existing bank account in the Philippines? Perhaps you could wire x number amount of funds into it?

-No

 

 

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roadhaze

My niece is on my US account. If I need money I have her send to me western union. Its  $10. to send up to $800. overseas.

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Lauie

you might come to the conclusion to just bring a bit of extra cash along with you initially and then use remittance type services like Xoom Orbit Remit and even Western Union. That sounds like it could be better for you than using an ATM, too much.

 

Yes, I'll bring cash with me, and yes some money will be sent via Xoom to my name before we leave. But my husband will be with me on this trip, so after the Xoomed money is gone, he won't be able to Xoom me more 'cause he has to be in the US to be able to do so. At least that's what I've learned regarding Xoom's policy. I don't know if WU is the same way, and I haven't tried Orbit Remit, or any other remittance service.

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smokey

 

Yes, I'll bring cash with me, and yes some money will be sent via Xoom to my name before we leave. But my husband will be with me on this trip, so after the Xoomed money is gone, he won't be able to Xoom me more 'cause he has to be in the US to be able to do so. At least that's what I've learned regarding Xoom's policy. I don't know if WU is the same way, and I haven't tried Orbit Remit, or any other remittance service.

   WElls fargo products done on line but you have to go to the branch the first time 

 

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Lauie

 

   WElls fargo products done on line but you have to go to the branch the first time 

 

 

I have Wells Fargo online banking. When we opened accounts with them, the banker actually signed me up for their money transfer service upon learning that I'm from the Philippines, lol. But I haven't tried it.

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