Jump to content

Dollar Bank Account Hell


Recommended Posts

USMC-Retired

Yep think outside the box but really who wants to do that much thinking.  Should they (banks) not what if the situation and ensure that customers have a enjoyable experience.  However it is what it is and you must endure this and prepare yourself mentally. 

Link to post
Share on other sites
  • Replies 32
  • Created
  • Last Reply

Top Posters In This Topic

  • Monsoon

    3

  • RogerDuMond

    3

  • streak03

    2

  • JSL-USMC

    2

Top Posters In This Topic

Popular Posts

It's a land of thieves and liars - these rules exist for a reason.   When you remind yourself where you are it's not stupidity it's perfect sense.

Well it seems stupidity knows no bounds. I have lived in Cebu for 8 years and decided today to open a dollar bank account. This would allow dollar transfers from my USA bank account.  So my first stop

Salty,   I transfer money all the time from my USAA account to my wifes account at BDO.  Its an overseas wire, USAA charges me 35.00 no matter how much I send over.

streak03

Terrance,

 

Yep, I send a bit more than that over on occasion.  Its very easy to just give USAA a call, have them send it, and its in BDO in about 2-3 days. USAA is the bank I use in the US.

Edited by streak03
  • Like 1
Link to post
Share on other sites
  • 1 month later...

Xoom Exchange rate sucks  42.2350 PHP per $1 US  today.,  Western Union is much better 42.9350 PHP per $1 US  today

  • Like 1
Link to post
Share on other sites
johnormoc

My wife had a dollar account at China Bank. When we were building our house, I wanted to deposit some funds in it so she'd have the resources to cover the ongoing expenses for the house materials. I went to deposit a check for $2,500 and they wouldn't take it.  They said it was too large of an amount and wanted me to write 5 separate checks of $500 each and deposit them on different days. Makes absolutely no sense. Like the OP said, I have no idea why anyone would want to do business here. You really have to leave your brain at immigration when you enter this country.

Link to post
Share on other sites

I  use a service called Remithome.  Currently their rate is 42.30 plus they charge me $10 up to $1000 per day.  I have been using them for several years and they allow me to send more and they move the funds in about 24-36 hours.

 

My bank back in the US is Affinity Plus FCU

Link to post
Share on other sites
throttleplate

I deposited $5000.00 check written to myself and was in my account in less than 2 weeks at BDO.Maybe because I sat down with the more older and wiser man that works there and treated him with courtesy and didn't stress out he did more for me than I would expect from a usa bank.Since then he has become a friend whom I will pop into the bank when walking by just to say hi.

  • Like 1
Link to post
Share on other sites
  • Triple Diamond Sponsor
Monsoon

I deposited $5000.00 check written to myself and was in my account in less than 2 weeks at BDO.Maybe because I sat down with the more older and wiser man that works there and treated him with courtesy and didn't stress out he did more for me than I would expect from a usa bank.Since then he has become a friend whom I will pop into the bank when walking by just to say hi.

While we are on the topic I am curious what was the bottom line cost? I thought BDO charges a fee for clearing US checks? Did they give you their published rate when it cleared?

 

 

 

Sent from my GT-I9300 using Tapatalk

 

 

Link to post
Share on other sites
JSL-USMC

Why use USAA (whatever that is) for $35 when Xoom only charges $5 for transfers up to $2,999.  Maybe you were transferring more?

I think XOOM makes their profit on the exchange rate. Quite a hefty one at that. Half of a peso on $3000 is 1500 is $35. You ain't gonna beat em.

Link to post
Share on other sites
Majorsco

I think XOOM makes their profit on the exchange rate. Quite a hefty one at that. Half of a peso on $3000 is 1500 is $35. You ain't gonna beat em.

Yes that's true. I get my transfer to a bank in less than 5 minutes. I use them every month to transfer my retirement. I wouldn't trust the banks here.

Link to post
Share on other sites
throttleplate

While we are on the topic I am curious what was the bottom line cost? I thought BDO charges a fee for clearing US checks? Did they give you their published rate when it cleared?

 

 

 

Sent from my GT-I9300 using Tapatalk

no fee,money from check deposited matched current rate at that time.
Link to post
Share on other sites
RogerDuMond

Opened both peso and dollar accounts at HSBC before leaving the US with $10 each.

  • Like 1
Link to post
Share on other sites
  • Triple Diamond Sponsor
Monsoon

I was just talking to BPI and apparently I can open a BPI account in the US. I haven't had a chance to discuss all the terms with them yet as I had to go to another appointment. They did say it would be a US based account number, SWIFT code, ABA# etc. 

 

So that could be interesting way to transfer from US to Philippines. 

Link to post
Share on other sites
  • Triple Diamond Sponsor
Monsoon

Opened both peso and dollar accounts at HSBC before leaving the US with $10 each.

 

You won't do that today.

 

Wondering when they will update their slogan to a more appropriate one:

 

HSBC - the world's terrorism bank...

Link to post
Share on other sites
RogerDuMond

 

 

You won't do that today.

 

Maybe not as that was a little over 2 years ago.

Link to post
Share on other sites

Why use USAA (whatever that is) for $35 when Xoom only charges $5 for transfers up to $2,999.  Maybe you were transferring more?

I transfer US $ to my HSBC dollar account here for free...why spend $5, when you don't have to? 

 

I keep only about $50 in that $ account and am a wondering why have US$ in an account here?  Certainly, the bank

isn't paying interest. 

Link to post
Share on other sites
Guest
This topic is now closed to further replies.

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..