Mandrake Posted June 16, 2006 Share Posted June 16, 2006 I am not a fan of paying fee. Kasi kung i-plus mo lahat, dami rin iyon.So kung puwedeng mag-plan ahead, that's good.I use iBank in Manila. We opened a dollar checking account.I issue a check from my US bank account and deposit it to our Manila dollar checking account. No fee charged. Clearing is 30 days.<{POST_SNAPBACK}> You must be a valued client of iBank to enjoy a waiver of bank fees from iBank or your US Bank. If the clearing period is 30 banking days, then the check must have been sent by iBank under COLLECTION BASIS. Normally, the US bank would deduct a fee from the proceeds of the check they have received for collection. Quote Link to comment
diver_703 Posted June 16, 2006 Share Posted June 16, 2006 If your accout with BPI is a USD Account, i would say you are fortunate to have been told by your US bank and BPI that they will charge a total of $25 only ($20 by the US bank and $5 by BPI). Perhaps your US bank is a correspondent bank of BPI which tie-up is covered by a special arrangement with BPI. Normally, other US banks will charge a higher transfer fee for a $20,000 remittance. I would assume as well that you maintain an account with your US bank where you will initiate the transfer in which case they may not require you to fill up a Cash Transfer Form (apart from the Application for Wire Transfer) for AMLA purposes. You may want to verify with BPI if they collect any fee for withdrawing the money in greenbacks. Some Phil. banks charge a withdrawal fee of P0.05 for every $1.<{POST_SNAPBACK}> tnx for the advice... my wife has taken money from her dollar acct in BPI... no fee... that's the account that i'll be transfering money to... just hoping that the BPI will not charge anything this time when she withdraws $20,000... Quote Link to comment
^O^ Posted June 22, 2006 Share Posted June 22, 2006 i have 300,000 won after a trip in south korea... san ko kaya pwede papalit ito? Quote Link to comment
jefoy Posted July 2, 2006 Share Posted July 2, 2006 what if remittance from Italy to PI what's the best way to use? i inquire on BPI since i have an accnt with them, but problem is my uncle is asking for CAB and ABI code or IBAN(Intl Bank Code), but apparently thany dont have any of it, just a SWIFT Code, any advice? Quote Link to comment
Mandrake Posted July 3, 2006 Share Posted July 3, 2006 (edited) what if remittance from Italy to PI what's the best way to use? i inquire on BPI since i have an accnt with them, but problem is my uncle is asking for CAB and ABI code or IBAN(Intl Bank Code), but apparently thany dont have any of it, just a SWIFT Code, any advice?<{POST_SNAPBACK}> There is a BPI Express Remittance Center is Rome, Italy which your uncle (whom I suppose is working also in Italy) can use in sending money directly to your account also with BPI. I understand that BPI Center in Italy uses a customized system in sending money to the Phils. which is faster vs. the SWIFT system which is expensive and may take 3-4 days before the money is credited to your BPI account because the money will still pass through a NY account of BPI. Edited July 3, 2006 by Mandrake Quote Link to comment
willow_boy Posted August 1, 2006 Share Posted August 1, 2006 (edited) I'm not sure if this is OT pero do they allow people to maintain dollar savings accounts in the Philippines? By this, I mean would a bank allow a person to walk in, buy dollars at prevailing exchange rates, and then open a savings account to hold those dollars? Given prevailing CB regulations, is this legal? Edited August 1, 2006 by willow_boy Quote Link to comment
Mandrake Posted August 2, 2006 Share Posted August 2, 2006 I'm not sure if this is OT pero do they allow people to maintain dollar savings accounts in the Philippines? By this, I mean would a bank allow a person to walk in, buy dollars at prevailing exchange rates, and then open a savings account to hold those dollars? Given prevailing CB regulations, is this legal? As a general policy among Phil. banks, one cannot just walk-in and buy US greenbacks let alone open a USD account using your pesos. BUT, if you are an existing client who has one or more peso accounts which are properly handled by your bank, your bank may allow you to buy foreign exchange but only to the extent of $5,000 only subject to certain conditions required by BSP. You may be allowed by your bank to use part of that money as initial deposit for an FCDU account you want to open. Hope this bit of info helps. Quote Link to comment
gzorros Posted August 20, 2006 Share Posted August 20, 2006 I think for SWIFT system (Swift Code = International Bank Code = Routing Number for usa i.e HSBCPHMN meaning HSBC Manila) you have a one time charge like 45$ but for some remittance they have fees like 15$ plus the exchange rate differential (in all the total transaction cost would average to 15% to 18% of the amount remitted). If you are sending a chunk of money like 1,500usd and above I would suggest wire transfer that would normally require swift code and the account numbers. Quote Link to comment
chosenone Posted August 27, 2006 Share Posted August 27, 2006 Interesting thread indeed. Tanong ko lang mga sirs and mams, lalo na sa mga nasa australia now. Paano kayo nagpapadala ng pera sa family dto sa pinas. I will be working in perth and i still have no idea kung paano makapagpadala ng pera sa pinas. Tnx Quote Link to comment
gzorros Posted August 27, 2006 Share Posted August 27, 2006 For wire-transaction it will be wise to set-up dollar account with BPI, MetroB,PNB, HSBC etc... Just a minimum amount would do. I prefer this method kasi dollar to dollar ang transaction. You can send personal check but that would need at least 45 days to clear in Manila.. Online banking would be another thing... MOney-remittance center should be available but their fee structure is expensive but very convenient. - you can ask a Kababayan travelling back to manila to do you a favor by delivering your money. Quote Link to comment
Mandrake Posted August 30, 2006 Share Posted August 30, 2006 - you can ask a Kababayan travelling back to manila to do you a favor by delivering your money. Quite more risky although this option may cost you less than using the banking or formal remittance channel.The main concern arises if the money is stolen from or lost by the person whom you have entrusted to deliver the funds.Nevertheless, this "padala system" remains a traditional form of sending money back home regardless of the inherent risk. :mtc: Quote Link to comment
the messiah Posted October 4, 2006 Share Posted October 4, 2006 i have 300,000 won after a trip in south korea... san ko kaya pwede papalit ito? probably sa mga korean convenience store, meron at mabini in malate or bandang kalayaan in makati Quote Link to comment
Dr_PepPeR Posted October 5, 2006 Share Posted October 5, 2006 Some moneychangers accept Korean Won, probably in places where there are thriving Korean communities, such as the Burgos area in Makati. If you want to use a bank, PNB head office in the reclaimed area would be the most likely candidate to exchange that for you. Quote Link to comment
dyasper Posted December 23, 2006 Share Posted December 23, 2006 does anyone here know a place where we can exchange iraqi dinar to peso? my dad worked there for 2 yrs and has a few thousand to convert to peso but we dont know if it has value here... Quote Link to comment
Dr_PepPeR Posted December 24, 2006 Share Posted December 24, 2006 does anyone here know a place where we can exchange iraqi dinar to peso? my dad worked there for 2 yrs and has a few thousand to convert to peso but we dont know if it has value here... Try the Main Branch of PNB at the Diosdado Macapagal Highway in Pasay City. Quote Link to comment
mightor Posted October 15, 2007 Share Posted October 15, 2007 Anyone familiar with this? What are your insights? TIA. Quote Link to comment
Accountability Posted October 22, 2007 Share Posted October 22, 2007 Ano po bang inyong advise, ako e nagpapadala (necessity) ng pera pa-pinas (USD), e sa ngayon malakas ang PISO, i-minimum ko muna padala o ganun pa rin (yung regular na padala)?Ano bang magandang gawin, para di naman ako matalo sa palitan. Kasi nagkwenta ako, yung dati kong padala, e lumiit na value ngayon in peso. nakakapanghinayang...so naisip ko, bare minimum lang muna padala ko sa pamilya, at in dollars na muna ipunin, at antayin na lang bumagsak ang piso. Tama ba ang move ko? Quote Link to comment
dexterhaba Posted October 27, 2007 Share Posted October 27, 2007 Mga pards,, laking epekto talaga ang pagtaas ng piso contra dolyar lalo na sa mga katulad natin na OFW,, although dapat sign ng pagunland ang pagtaas ng piso,, ang problema para sa mga mediun and low class citizen,, ndi talaga nararamdaman to eh,, lalu pa nga tumaas ang pasahe , gas, tinapay,, etc,,, tapos lugi pa ang OFW,, malaki din talaga ang nawawala,, so tanong ko lang sa mga experts,, ano ba dapat ang gawin ko dito sa hard earned dollars ko,, papalitan ko na sa peso ,, o hold ko lang for future use??? TIA poe! :flowers: :flowers: Quote Link to comment
LYCHEE Posted November 7, 2007 Share Posted November 7, 2007 Ano po bang inyong advise, ako e nagpapadala (necessity) ng pera pa-pinas (USD), e sa ngayon malakas ang PISO, i-minimum ko muna padala o ganun pa rin (yung regular na padala)?Ano bang magandang gawin, para di naman ako matalo sa palitan. Kasi nagkwenta ako, yung dati kong padala, e lumiit na value ngayon in peso. nakakapanghinayang...so naisip ko, bare minimum lang muna padala ko sa pamilya, at in dollars na muna ipunin, at antayin na lang bumagsak ang piso. Tama ba ang move ko? ang general forecast lalakas pa ng piso until end of the year at maglalaro pa rin sa 43 level. mahirap mag antay ng pagbagsak ng piso sa short term lalo na magpapasko. Quote Link to comment
dexterhaba Posted November 10, 2007 Share Posted November 10, 2007 bumagsak nanaman ang dollar,,, bumababa nga ng konti ung meralco rate pero tumaas naman ang krudo,, lugi pa lalo,, kahit gano pa kalakas ang piso parang napakahirap talaga bumaba ng prices of goods pero pag bumagsak naman piso,, ang bilis tumaas,, haaaaaaayyyyyyy! :thumbsdownsmiley: Quote Link to comment
aspogg Posted November 10, 2007 Share Posted November 10, 2007 (edited) Anyone out here who plays forex? List of sites? Tips for newbies like me who want to test things out? Edited November 10, 2007 by aspogg Quote Link to comment
joss Posted November 10, 2007 Share Posted November 10, 2007 hindi po lumalakas ang piso yung dollar ang binagsak ng amerikano. kasi dami ng foreigner na naka invest ng dollar sa mga bangko nila, pag pinahina nila ang dollar eh di lugi ang mga foreigner. kaya kung mag i ipon kayo ng dollar hindi po ngayon ang tama panahon hintayin nyo tumaas ang interest ng us t bills pag tumaas yun sigurado taas na dollar saka kayo mag ipon ng dollar. Quote Link to comment
dexterhaba Posted November 26, 2007 Share Posted November 26, 2007 ive tried forex.com free account,, ok naman ung sw nila and easy to use,,, newbie pa lang ako ,,, hope somebody can give tips and idea on how to diskarte to win money here,,, im seriously thinking of trying it the real thing,,, thanks! :goatee: Quote Link to comment
LYCHEE Posted December 3, 2007 Share Posted December 3, 2007 does anyone here know a place where we can exchange iraqi dinar to peso? my dad worked there for 2 yrs and has a few thousand to convert to peso but we dont know if it has value here... check with BSP... Quote Link to comment
MODERATOR Alex_Corvis Posted December 9, 2007 MODERATOR Share Posted December 9, 2007 For instructions on how to trade with Forex, you can go to www.babypips.com, lessons learned here can also be applied sa stock trading, lalo na inputs on Technical trading Ganda pa ng presentation nila, may levels pa, kinder, elementary, highschool then college. Quote Link to comment
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