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Sending money to girlfriend in Philippines


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smokey

My last transfer was $168,000 sent swift bank to bank.   $35 fee at my end and $5 fee from BDO at the other end.

168,000 Us   and the last time i saw you i had to buy you 30peso load 

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Davaoeno

 

 

How do you guys find the exchange rates when transferring bank to bank...

 

my bank manager hooked me up with someone who gives much better rates than the bank does. They even deposited the pesos into my bank account before i had transferred the dollars to them 

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darrener

good question, and it may make a difference on large transactions but i think western union has a cap on the size of transfers, so bank wire may be the only options for big amounts?  

 

My own experience was $5000 per 3 day limit,(more may be sent if doing the transaction from an agency rather than on line) but the fee was only $10, so 3 transactions over 10 days gave me the $15,000 I needed to supplement the purchase of a car, however the exchange rate was approx. 1.3 peso's better than using my bank giving me an extra 19,000 pesos on the transfer........

Edited by darrener
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riklynbor

I have the basic same question. Do I get my GF to open an account in the Philippines so I can wire money to buy a car when I return? Is there any tax liability to her receiving money from me? Then can we get a cashier check to purchase the car?  I have wired money to China to purchase cabinets and it was not cheap. If I remember correctly it cost me $26. So wiring small amounts of money would not be cost effective from my past experience. For monthly money I gave her an ATM card tied to a savings account which I can transfer money online to this savings account and she can get at any ATM. She cannot take more money than their is in the account.

 

 

You said return so why not open your own bank account in Philippines? I had one but made the mistake of withdrawing all the money by mistake so they closed it :-(

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Enuff

Opening an account is rather easy depending on the bank, the branch and the employees.

 

Metrobank wanted me to jump through hoops with pics, arc card etc. East west bank next to b quest needed drivers license from us and my passport. Had dollar and peso accounts. Very happy with them.

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spydoo

Is there any tax liability to her receiving money from me?

It depends. If receiving money from western men is her profession she's supposed to declare it as income.

 

jk :)

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ricardo123#

I use PNB...$7.00 deposit fee...I set up the acct. in NYC into an Angeles branch.

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cvgtpc1

168,000 Us   and the last time i saw you i had to buy you 30peso load 

 

How he has 168.000 US....

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