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Cebuandrew

Is there a better way than Xoom?

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contraman

 

 

you can always insert your own name on their bill using software.

Thats Naughty, No one would do that :yahoo:

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Alk

When I opened my Metrobank account, I gave them the address of a friend of mine living in Lapu-Lapu. Worked fine for me.

 

If you can get someone to scan a bill from the local electric or water company, you can always insert your own name on their bill using software.

Thanks for the advice...Too bad I don't have any friends here....

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NOSOCALPINOY

That's a negative Ghost Rider.  I've been using ATM withdrawals for years and I do not WILL NOT pay a dime of fees.  If someone finds a service that will pay me to transfer my money to me then I'll switch but until then, free is fine with me.  I have a US (not RP) HSBC savings account.  The minimum balance is like 10 cents or something.  I created the account online and funded it via web bill pay from my USAA account.  It takes about 4 days for money to transfer from my USAA account where my pension is deposited to that HSBC account.  I can take up to p10K from a Metrobank ATM (they're everywhere) or more than p10K (not sure how much more) from a UCPB ATM or up to p40K (per pull) from the HSBC ATM near Ayala (and can do back to back pulls there up to my account's daily limit.)  No fee at all.  There's also no fee if I use my USAA card at the HSBC ATM or if I use that card at a fee ATM, USAA will reimburse the fee up to $15/mo.  So using the ATM is definitely easier than checks.

 

You probably have one of the best banking system I've ever read in a long while, but HSBC branch offices in the Philippines are few and far in between where we live, but I may check into it one of these days when I open up a savings and or checking account with USAA. I now only have a credit card with USAA and the nearest HSBC branch office is in Alabang about a 30 minute drive. For now my way of banking with BPI and my U.S. bank has worked for us since 1998 and no need for me to fix anything that ain't broke, but your banking system looks promising to those who can immaculate it.

Thanks for the info!   

Edited by NOSOCALPINOY

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my72nova

I have been using xoom for a long time and it works fine.  If there are any missteps it is usually when you change or cancel your debt or credit card.  It is expensive like 8% to send 100 usd.  I would like to find a free or no cost service eventually.  Has anybody used the Facebook money transfer that they were touting a few months ago?

 

 

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Bill H

Have you tried giving them the street address of the Hotel, without beating them over the head with the fact it is a hotel?  Worth a shot, as usually they are just wanting to fill the blank line with something on their computer screen.  Failing that, try another bank, you have many to choose from here.  I've had accounts at three different banks on my Tourist Visa, so I know it can be done.

 

That said, the best single way to move money is by depositing your personal check drawn on your home country's bank into a Philippines bank.  Yes, it will take 3 weeks or so while the bank uses your money free of charge, but there is no minimum or maximum amounts involved and you generally get a good exchange rate with few if any fees.

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SkyMan

Damn. I feel bad now. I was complaining that it took two days for my transfers from my credit union to my Schwab account. :D

If I wanted I could have my pension sent straight to HSBC.  Or you could use Schwab for your main bank and there would be no transfer time at all.  As it is I just have a payment set up from USAA to HSBC repeated weekly that is about what I need here in the Phils.  Sometimes I don't use it as fast as it comes so I skip a payment.  Some times I need more so I add in an extra transfer.

 

 

You probably have one of the best banking system I've ever read in a long while, but HSBC branch offices in the Philippines are few and far in between where we live, but I may check into it one of these days when I open up a savings and or checking account with USAA. I now only have a credit card with USAA and the nearest HSBC branch office is in Alabang about a 30 minute drive. For now my way of banking with BPI and my U.S. bank has worked for us since 1998 and no need for me to fix anything that ain't broke, but your banking system looks promising to those who can immaculate it.

Thanks for the info!   

You don't actually need to be near an HSBC branch.  As I said, you can pull up to p10K from Metrobank no fee.  UCPB allows larger pulls, at least p20K.  Again, no fee.  So if you want p40K you can pull 4 times from a Metrobank ATM.  There may be other free ATMs as well.  Those are just the two I know for sure.

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Paul

 

 

Or you could use Schwab for your main bank and there would be no transfer time at all.

 

I had considered that. But, to be honest, I have been with this credit union since before it was - well, this credit union. (My original credit union merged with them quite a number of years ago.) Anyway, I had been doing business with them for so long, that they had become my primary banking institution. I have too many automatic deposits and automatic debits linked to it, to just go changing now. It was much easier to just preset automatic transfers to Schwab, from the credit union, every month. I adjusted to the extra two days necessary, for the transfer to complete. 

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Alk

Update on Xoom...

 

After being a loyal customer of them for over 5 years, they denied my last transaction, money i needed very much.

 

When i appealed to them via a phone call, they escalated my appeal. At that time i was not banned from using their service.

 

After reviewing my account they sent me a message saying my account was CLOSED....with some boilerplate included that it was determined that I was possibly using my account for Commercial, Drug or Sexual related purposes, which is absolute nonsense.

 

Xoom is an absolutely horrible company to do business with.   

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enoonmai

I have a US (not RP) HSBC savings account. The minimum balance is like 10 cents or something. I created the account online and funded it via web bill pay from my USAA account. It takes about 4 days for money to transfer from my USAA account where my pension is deposited to that HSBC account. I can take up to p10K from a Metrobank ATM (they're everywhere) or more than p10K (not sure how much more) from a UCPB ATM or up to p40K (per pull) from the HSBC ATM near Ayala (and can do back to back pulls there up to my account's daily limit.) No fee at all.

Want to make sure I understand. You opened a non-Premier HSBC savings acct based in the US and are using the HSBC ATM card to withdraw from MetroBank ATMs and there is no local p200 bank fee?

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SkyMan

Want to make sure I understand. You opened a non-Premier HSBC savings acct based in the US and are using the HSBC ATM card to withdraw from MetroBank ATMs and there is no local p200 bank fee?

That's correct.  I think it's this Advance Online Savings account:

 

https://www.us.hsbc.com/1/2/home/personal-banking/savings-accounts/hsbc-advance-online-savings/details

 

You fill out the app online, then you need to fund it somehow.  I sent $5 from another US account via web bill pay.  Once they have that they send out the ATM card.  That card works at Metrobank, UCPB, and HSBC ATMs wo fee.  It probably works wo fee at other ATMs too, whatever is on the same network with Metrobank and UCPB.

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enoonmai

I'll check it out thanks. One last, do they know you're living in the Phills or are you doing travel updates? Do they care?

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SkyMan

I've never told them where I am.  I use my FPO address on the account but they don't know where that goes.

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enoonmai

You don't actually need to be near an HSBC branch. As I said, you can pull up to p10K from Metrobank no fee. UCPB allows larger pulls, at least p20K. Again, no fee. So if you want p40K you can pull 4 times from a Metrobank ATM. There may be other free ATMs as well. Those are just the two I know for sure.

I finally got the HSBC card and the acct set up and got some money transferred into it. I made withdrawals at a local MetroBank and also at one of the Rural South Cebu Bank's ATMs. It's still showing "pending debit" in the online acct but there are no extra fees although there was the usual warning at the ATM that there is a p200 fee plus an additional p15 for use of network. The withdrawal amounts are the current exchange rate.

One curious thing, if I do a Balance Inquiry it shows the exact dollar amount in the account but in pesos..eg, $210 shows as P210, $400 as P400, etc and the amount on the transaction paper shows the dollar amount but no currency designation. That threw me. All my other accounts show the peso equivalent, not dollar amount.

Anyway, thanks, this is very valuable if I can eliminate all the p200+15 fees.

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ex231

I had considered that. But, to be honest, I have been with this credit union since before it was - well, this credit union. (My original credit union merged with them quite a number of years ago.) Anyway, I had been doing business with them for so long, that they had become my primary banking institution. I have too many automatic deposits and automatic debits linked to it, to just go changing now. It was much easier to just preset automatic transfers to Schwab, from the credit union, every month. I adjusted to the extra two days necessary, for the transfer to complete. 

 

I'm in just about the same boat except that I'm still struggling to get the Schwab account up and running. When I was in the US I went into a Schwab office thinking it would be easier that way .. well, I'm still working on it lol Actually the attitude I got from the lady in the office was that I was an annoyance because there really wasn't anything in it for her. I think it will be good for me once I get it sorted out though.

I've been using your favorite money transfer service  :sarcasm:  and they got real hinky on me a couple of weeks ago and I had to call them and jump through a lot of hoops to satisfy Habib on the phone. I'm anxious to be rid of them, soon I hope.

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SkyMan

 

 

I made withdrawals at a local MetroBank and also at one of the Rural South Cebu Bank's ATMs.

 

there was the usual warning at the ATM that there is a p200 fee plus an additional p15 for use of network.
Was that at the rural bank, Metrobank, or both?  And was it just in the text somewhere or did you have to hit a button to accept it?  I've never seen that on a Metrobank ATM but I tend to punch through the buttons faster than the machine can ask them.  I like to show the locals that happen to be watching how long it should take rather than what they normally do.  Fumble around with their card, read each line of instruction, ask the guard over to help them....wonder why it isn't giving them money, guard walks them through a balance inquiry, no money.....get out another card....
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