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Setting Up Dollar Account, Need USD


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Knowdafish

 

 

I need to convert pesos to dollars, as my Unionbank USD deposits get converted to pesos via PayPal.

 

PayPal has a conversion feature where you can convert to the currency of your choice. I get paid mostly in dollars, but sometime in pesos. PayPal can handle either and it is fast, simple, and easy to convert from one to the other online with PayPal. From there you can be set up with PayPal to send the money to the account (whether dollar or peso) of your choice. 

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Just remember that when you go to BDO to set up the account you will need USD for the first deposit - but that BDO is not allowed to sell you the dollars for the first deposit , so first you have to g

I do most of my banking [ personal and corporate] at BDO, but I also have accounts at BPI and HSBC.  I have had no real problems at any of them .  But it helps to develop a guardian angel wherever you

BDO charges you to use any branch other than your own. BPI doesn't.

I will let these Monied guys answer all your Tax Questions - I am on the dole so I am the last one to ask about that 

 

However, I want to clarify your question about writing checks off a Philippine Bank for transacting in the US - 

 

The US Banking system does have some standards that Philippine Banks may not met.  I would suggest that if you want to write a check on a Philippine Bank regardless of what the currency the funds are in, that the check can be processed in the US.

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