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Anyone able to open a remittance account while in the Philippines?


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As I mentioned in another thread, I recently had my account closed by Xoom for absolutely no valid reason.  I'm in a position now where I have no remittance account to draw money from, and am almost out of cash here.

 

Since I live long term in a hotel, neither BDO or BPI will allow me to open a bank account since they don't consider it a permanent address.  I do have an ACR card.

 

I did try to open an account at Remitly, but could not do so since i am living in the Philippines.  In looking at Remithome and other sites it seems to be the same way.

 

Has anyone had any luck in setting up a remittance account while living in the Philippines with any company for sending themselves money out of their USA bank account?   I know a few here have set up accounts prior to leaving the USA that allow them to do that, but obviously it is too late for me to do that.

 

I guess for the time being, I can use ATM machines to hold me over, but that is not a viable long-term solution...

 

Thanks in advance for your help.

 

 

**** Moved to Sending Money Forum

Edited by Alk
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Paul

Try RCBC. Or, consider going to Cebu Main Post Office to check if they have an available PO Box you can rent. (Kind of tough getting one there, most times.) 


Can you get someone to send you money via Western Union, online, from your home country?

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hyaku

I opened a Metrobank remittance account in the UK. Never needed to use it but it was easy to open,

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smokey

Try RCBC. Or, consider going to Cebu Main Post Office to check if they have an available PO Box you can rent. (Kind of tough getting one there, most times.) 

Can you get someone to send you money via Western Union, online, from your home country?

I tried that once its very costly in fee and exchange rate...I set mine up thru wells fargo while I was in the usa ..we presently have a union bank acct... usd and write checks that clear in 30 days when we opened it we were renting maybe he can use the address of the hotel and not say this is a hotel but act like its a condo or use someone elses address

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Paul

 

 

we presently have a union bank acct... usd and write checks that clear in 30 days when we opened it we were renting maybe he can use the address of the hotel and not say this is a hotel but act like its a condo or use someone elses address

 

I agree. And, I think most of us long timers have done similarly. That is, opened USD Savings Accounts in the Philippines, to simply deposit checks into. I like that way. Unfortunately, I have a feeling he has no checks with him to make such a move. 

 

I think Western Union has a deal online, to charge only like $5.00 for wire transfers through them? Not sure. It's been some time since I sent monies through WU. 

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Jawny

Did the banks require proof of residence such as a utility bill in your name? Or did they just want a mailing address? The hotel has a street address (typically) and Mail can be sent to you at that address.

 

Your experience may be the result of a clerk just not wanting to violate some sort of rule. Perhaps speaking with a manager at a branch would get the account opened. What I understand about the banking policies is that they want to know the client and it is an account for a legitimate purpose. A manager can understand that. A clerk has blocks to fill in and that may be the real obstacle.

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woodchopper

i use ATM only,,HSBC(no charge,,$5 aust bank) at ayala,,and bring cash when back australia,,not many problems eh

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Yes...they require some sort of bill....my hotel, which I have stayed since February, is literally right next door to a big BDO branch, but they would not consider allowing me to open an account due to it not being a permanent address..  If I had that, I would open a USD account.

 

Woodchopper...i'm assuming the HSBC branch  (which i live close to) charges a 200p withdrawal fee?  is that correct? Are you a HSBC customer?  I think most foreign banks charge $5 for each transaction, plus a 3% foreign exchange fee.  I know my bank, Bank of America does...that can get expensive in a hurry....but I might have to bite the bullet and pay the fee for now.

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SkyMan

 

 

.i'm assuming the HSBC branch  (which i live close to) charges a 200p withdrawal fee?
HSBC does not charge a fee.

 

I know a few here have set up accounts prior to leaving the USA that allow them to do that, but obviously it is too late for me to do that.
True but that's not a problem.  Open a US HSBC account online.  Fund it by having money sent from your BA account.  Your only difficulty will be getting the HSBC ATM card sent to you.  Do you have a reli or friend in the US that can send it to you?  Use their address when opening the account.
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That seems like a lot of trouble to avoid a 200p deposit fee....I'm still hoping to find a way to send myself money with a service similar to Xoom (but reliable)...but so far nobody (remitly, WU) will allow me to set up an account to send money to myself here in the philippines.  

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woodchopper

Woodchopper...i'm assuming the HSBC branch  (which i live close to) charges a 200p withdrawal fee? 

 

the only fee i see in my bendigo bank is a $5 aust bendigo bank charge,,no fee at hsbc

 

i suspect if u r aussie and deal with any of the big aust banks,,u will incurr extra in ur respective account?

Edited by woodchopper
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SkyMan

 

 

That seems like a lot of trouble to avoid a 200p deposit fee
That adds to over $200/year or more.  And I imagine your remittance services would be more than that.
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hyaku

Metrobank charge a set fee of around P400 for any amount sent. They are remittance service and not a bank. Anything deposited will be sent once month to your account here in RPH

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State Trooper

I have researched this topic thoroughly and find that there is NO remittance company in the US that allows you to open an account in the PHL nor allows you to access an account from the PHL that someone else sets up for you. You will be locked out of your own money and account if you try that.

 

Ive had a family member set up an account and allow them access to my checking acct and they pretend to be me and I just tell them when I need a remittance so the transaction is initiated in the US. Pain in the butt for all of us thanks to the US govt.

 

HOWEVER Ive found a new service that Im setting up now. Its called TransferWise.

You can open an account from the PHL, you can access the acct from the PHL and you can send money to YOURSELF… Its bank to bank and the fee is a fraction of what a regular wire transfer costs. The company is based in the UK.

 

Suggest you Google them and check them out for yourself to see if they meet your needs

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SkyMan

Metrobank charge a set fee of around P400 for any amount sent. They are remittance service and not a bank. Anything deposited will be sent once month to your account here in RPH

Maybe for wire transfer but not for an ATM pull from an HSBC account.

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