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Davaoeno

Which is the best bank to deal with in the Philippines?

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SkyMan

                                                          When Traveling to the Philippines

 

            For foreigners/tourists traveling to the philippines you can withdraw cash in over 2,000 BPI or BPI Family Savings Bank

 

Express Teller ATM's. These ATM's are strategically located at commercial areas like airports, shopping malls and near hotels

 

in keys cities within the country. For your added convenience, Express Teller ATM's are also found at over 800 BPI or BPI

 

Family Savings Bank branches nationwide. These ATM's are available to you 24 hours a day, seven days a week.

But not without paying withdrawal fees unless you're using a BPI ATM card.

 

HSBC is a good choice for those who live near one of their banks,
What does that have to do with it?  I opened my account in the US from here in Cebu.  I fund it via web bill pay from my US payroll account.  And generally withdraw from it via the Metrobank ATM in the 360 Pharmacy here in Liloan.  I never have had to go to an actual HSBC bank though I do sometimes use the HSBC ATM near Ayala but I never go in the bank part.

 

This also is misinformation. It does not require cash. It requires any combination of cash, CDs, or investments. We have our IRAs at HSBC US and they do not charge for their financial manager.

I didn't say cash I said money.  CDs, investments, IRAs are all money with varying degrees of liquidity.

 

When you write "with no fee" are you referring to no ATM fee or no Foreign Transaction Fee or no fees of any kind?

On 9/17 I took P10K from a Metrobank ATM in the 360 Pharmacy in Liloan and have a debit of $216.40  or about p46.21.

On 9/25 I took P10K from the UCPB ATM in SM Cebu and have a debit of $215.60  or about p46.38.

Yesterday I took P10K from the HSBC ATM near Ayala and have a debit of $216.00  or about p46.30.

 

No fees.

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Lee

 

 

What does that have to do with it?  I opened my account in the US from here in Cebu.  I fund it via web bill pay from my US payroll account.  And generally withdraw from it via the Metrobank ATM in the 360 Pharmacy here in Liloan.  I never have had to go to an actual HSBC bank though I do sometimes use the HSBC ATM near Ayala but I never go in the bank part.

Do you not pay ATM fees when you use a different banks ATM? Possibly not, if you have one of those high end accounts but if someone has just the online ATM savings account, do they get free ATM withdrawals from other banks machines? 

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Bill H

I have noticed there is a sometimes huge difference between branches of the same bank.  A case in point:  I withdrew 25,000p from my PNB account in Bacolod.  They charged me a fee of 200p.  I've done the same transaction at the PNB branch in Dipolog and was charged no fee.  Being the curious type, I asked the Bacolod branch why they were charging me a fee when I had not been charged a fee for the same transaction in the past in Dipolog.  They could not/would not tell me.  I needed the cash and was in a hurry, so I didn't press the issue, but I intend on doing that in the next day or two as I suspect this was just another version of the Kano tax.

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sugbu777

I have noticed there is a sometimes huge difference between branches of the same bank.  A case in point:  I withdrew 25,000p from my PNB account in Bacolod.  They charged me a fee of 200p.  I've done the same transaction at the PNB branch in Dipolog and was charged no fee.  Being the curious type, I asked the Bacolod branch why they were charging me a fee when I had not been charged a fee for the same transaction in the past in Dipolog.  They could not/would not tell me.  I needed the cash and was in a hurry, so I didn't press the issue, but I intend on doing that in the next day or two as I suspect this was just another version of the Kano tax.

Was this in-branch or ATM?

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NOSOCALPINOY

nothingbutquestions, on 04 Oct 2015 - 10:26 PM, said: When you write "with no fee" are you referring to no ATM fee or no Foreign Transaction Fee or no fees of any kind?

 

On 9/17 I took P10K from a Metrobank ATM in the 360 Pharmacy in Liloan and have a debit of $216.40  or about p46.21. On 9/25 I took P10K from the UCPB ATM in SM Cebu and have a debit of $215.60  or about p46.38. Yesterday I took P10K from the HSBC ATM near Ayala and have a debit of $216.00  or about p46.30.  

The 3% Foreign Transaction Fee does not show up on one's RP ATM transaction receipt. The 3% foreign transaction fee from any bank using one's home country's ATM debit/credit card shows up a day or 2 on one's on-line home banking statement. I don't know about with the HSBC's 3% Foreign Transaction Fee which does mention it in their terms of charges disclosure agreement on-line. 

ATM transaction fees are different from the 3% foreign transaction fees unless adjusted by ones home country's bank lending institution. There are ATM debit/credit cards that do not charge ATM fees and or foreign transaction fees depending what agreements they have with their bank.   

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