UPDATE UPDATE UPDATE

RECEIVED OFFICIAL RECEIPT FROM PNB LOS ANGELES, CALIFORNIA RE: ACCOUNT OPENING ON 17 FEB 2016

Rec'd official receipt for USD deposited into a PHP account - PHP account and USD deposit made 17 FEB 2016.
(I rec'd a hand-written receipt at time of opening and USD deposit)

The exchange rate I was given for this transaction from USD:PHP was 1:46.95. This PNB exchange rate was based on the date I submitted USD for deposit to PHP account on 17 FEB 2016.

The Dumaguete Branch of PBN wil be my local branch.

Special Instructions to Dumaguete Branch from PBN LA Branch: Please forward ATM & PIN mailer to PNBLA.

On this Official Receipt was a HAND PRINTED account number of my PHP account with PNB.

I have NOT yet rec'd the ATM & PIN mailer, but hopefully, this is in process.

Just to make sure all is good, I WILL WAIT until I receive ATM & PIN mailer AND receive my FIRST monthly statement BEFORE I make another deposit to this account.

That way, I can confirm that the hand-written account number and the printed monthly statement with my account number are identical.

Once I receive these THREE items and all is correct and "good to go", I will then have to go to the original Wells Fargo Bank location where I established my original account with them, and make my first, in-person transfer of USD from that specific Wells Fargo Branch to PNB. This FIRST TRANSFER step MUST be done (IAW US Fed Banking Law) PRIOR to departure to the Philippines so that I can utilize internet transfers and so on AFTER this first step is successfully completed.

V/R,
nwlivewire

 

I think you will do really well in the Philippines as your prep work is extensive. The same attention to detail used in the Philippines will probably yield a high 80% to 90% success rate whatever you do. Sometimes things will go off the rails no matter how much you do though. I like following your progress, although I usually settle for a 80% success rate and a more free flowing lifestyle.

 

Dear robert k:

Thanks for the positive thoughts!

I'll be tickled if I hit 80-90%. My hope is that all the prep time and energy spent in advance of arrival will pave the way for me to adapt quickly and give me the breathing room to get acquainted to the life and to the daily way things go in the Philippines. Like I mentioned in another post, I'm wanting to get settled in with a minimum of bumps along the way, as we all know that life seems to bring a few no matter how well planned out we try to be. I don't want to have to look at my Stateside rear-view mirror all the time - just only look back when I need to. I look forward to the day when I buy my ticket!

I've just a few more months of paying down my debts and being free and clear of all encumberances - and that includes the IRS! This new chapter in my life will be a wonderful time for me -- and for a change, I get to come first. My Son thinks his Mother has always been quite the adventurer, and yes, he has his worries about the Philippines. But he just loves me and wants me to stay happy and healthy. I hope he and his wife and her kids will come visit me so they can see this part of the world, too.

I'm very glad I found this website. All the "regulars" on here offer a broad base of information and are very helpful and are serious and funny -- all rolled into one! I hope when I get to Duma that Wyre83 has a forum get-together so I can put names and faces together. And I hope I can get settled in quickly and have an open-house for the forum folks and their families, too.

Will post more as I go. Still need to button up a few more things here. But BOY OH BOY -- I just think each day that passes is another day closer to my next chapter.

V/R,
nwlivewire

 

Looking in my crystal ball I see you will have no problems getting settled at all. You are already way, way, way more prepared than most and you are even getting your banking and an SRRV lined up as well.

I came here with all my possessions (1 1/2 suitcases), a Schwab ATM card, and insights from the forum. I had no problem getting settled as the only bumps I had are ones I put there (like what kind of motorcycle do I want). Actually let's say I have had no bumps but made some potholes - only because I am settled, relaxed, and not in a hurry enough to play with questions like that.

You will do well here.

 

Just wondering how you managed to open an account with a Philippine bank before you had an address in the Philippines...or did you have an address there.

There are several Philippine banks with branches here in New York. I have been to most of them, and none will open an account for me (am am otherwise financially quite qualified.)

On my last visit to Dumaguete, I visited a bank branch which also refused my request.

What am I missing?

 

At the time of my experience, the PNB in Los Angeles DOES and WILL open an account for you, even if you have yet to arrive in the Philippines and have NO physical address in the Philippines.

I produced to PNB at the Los Angeles, California brick-and-motar branch, two valid picture IDs (with expiration dates), two matching physical addresses from bank statements, and two matching mailing addresses from the P.O. Box I use here in the States.

I told the bank I was moving to the Philippines soon, that I had a Wells Fargo Bank account, and that I knew PNB and Wells Fargo Bank work together for the transfer of USD to PHP through their joint cooperative remittance program in the States.

Not sure about the New York situation as I am a West Coaster. BUT, IF there is a USA Wells Fargo brick-and-mortar branch in your area, I would suggest opening up an account with them. Once that has a direct deposit of a Government pension (State or Federal) going into it, then open an account with PNB. I do NOT believe it is necessary to have a pension directly deposited into Wells Fargo, but for me, this will be less complicated.

In my case, I have a Federal monthly pension of over 1,000 USD being automatically directly deposited into my Wells Fargo account.

Eventually, that Wells Fargo monthly bank statement will become part of the proof needed to substantiate a qualifying monthly income for VISA purposes. That statement, plus the official letter from that Fed pension program stating my monthly pension amount, will suffice for adequate proof of income for VISA purposes.

I set up my banking this way for several reasons:

1. To reduce the amount of paperwork I'll need to carry with me for the VISA documentation/verification process.

2. To reduce the costs of US State Department notarial and Consulate appostilling as the more documents you have, the higher the costs -- and this ain't free or cheap.

3. To limit the intrusiveness of the Philippine Government in their knowing of my full financial affairs. If I meet the VISA minimum income requirements with this one pension and this one US/Philippine banking set-up, then that's ALL they need to know.

4. To "season" my PNB account with TIME by opening it up a year ahead of schedule. This allows me to get the FIRST, IN-PERSON transfer done (IAW FED Banking laws) from withdrawal from my Stateside Wells Fargo to my PNB PHP account and work out any bumps (if any) in that road.
A. Once that goes through, I can then begin to do the electronic transfer process (through the internet banking service). This will allow me to become personally familiar with this process and discover how long the electronic transfer process takes from USD withdrawal to PHP deposit -- from one bank to the other. (As an aside, IF I watch the exchange rates between these two currencies, then I might get a slightly better exchange rate over this time period if I "time" my transfer request).
B. I will have made enough transfers over this time of USD to the PNB PHP account to fund myself with the "seed money" needed to be "at-the-ready" for when I have to pay utility start-up deposits, initial rent deposits, and all the other basic set-up costs when I arrive to the Philippines.

5. PNB has a branch in Singapore, as well as in some parts of Europe, and in the UK, too. This will come in handy when I visit these areas, too.

So check to see if you have a full-service, brick-and-motar PNB AND Wells Fargo in your area. I suspect you do.

V/R,
nwlivewire

 

UPDATE UPDATE UPDATE

Rec'd in the mail my PNB debit card and a seperate mailer with my PIN number.

Both the card and the PIN was sent to PNB branch in Los Angeles from wherever the Debit cards and PINs are created.

PNB Los Angeles Branch forwarded both those mail pieces to me - and they appeared to have been sent to me in an UN-opened condition. Both debit card and PIN activation Code were in originally sealed envelopes and were placed into larger envelopes by PNB L.A. and then forwarded to me.

Problem ONE:

I noticed that PNB L.A. has my account as a PHP "SAVINGS" account. I thought I made it very clear to the L.A. PNB branch I wanted to open a checking account. Apparently, that did not happen(language barrier?), so I now have a PNB PHP savings account with a debit card and corresponding PIN activation code.

The Debit Card has NO CHIP OR LOGO of ANY kind - NO expiration date.

Problem TWO:

I opened up the secured PIN code letter, and it only had a Philippine phone number I could call to activate the Debit Card. Upon further notice, inside the outer two envelopes, I have to sign, date and return to PNB L.A. that I have received these two items.

How do I activate the debit card?

All the numbers matched up from what I can see.

HMMMM...

So I called PNB L.A., and of course, even with re-dialing six times to all SIX extensions, all I got was voice mail. NO ONE picked up at any extension and answered the phone. Left voice mail and NO ONE called me back.

THREE business days later, I FINALLY get a human voice who picked up the phone. I was immediately placed on hold and eventually transferred to another L.A. Branch employee - who happened to the employee who helped me open up my account in February when I had to go to L.A. in person to open a PNB account.

UPSHOT of this conversation:

1. SHE did everything right. It was ME that requested a Savings account. HUH??? OK. Whatever.

So I have a PHP savings account with PNB - not a PHP checking account. (Good Grief!)

2. In order to activate my Debit Card, I sign, date and return the PNBLA forms saying I have rec'd both the card and the PIN and then "THEY" will activate the account.

HUH? I do NOT know HOW "THEY" can activate my debit card without the PIN assigned to me, but that's what she said "THEY" would do.

3. The debit card is NO GOOD for use in the States for ATM machines. It has NO LOGO, no expiration date.

She told me IF I wanted a debit card with a LOGO, etc., and be able to use it in Stateside ATMs, then I would have to come back to the LA OFFICE and request one IN-PERSON!

(Good Grief! Why didn't this PNB employee tell me this when I was in her bank opening up this account???? I live 1 1/2 hours by AIR - 500+ miles from the LA Branch, so it's not like I can just jump in my car and do this in-person in a couple of hours). GRRRRRR!

4. I will NOT be mailed monthly statements unless I request and pay for one - 30 USD each. I will need to go online to their website, sign-up and enroll, and then I will be able to retrieve an electronic one. Going to see if I can do this now and let you all know.

If it's more fun in the Philippines, then I can hardly wait to get there.

Good Lord, give me strength....

While this is a bit annoying to me, I'm getting innoculated with patience so as to be ready for whatever may come later....

V/R,
nwlivewire

 

CANNOT ENROLL YET ON PNB.COM.PH WEB SITE. I have an invalid PIN.

So I am assuming I have to wait until PNB LA receives my signed and dated forms that say I have rec'd these two items (card and PIN), and then wait some more until the PNB LA office "activates" my card for me?

Perhaps once PNB LA receives my forms, they will simply press some computer key in their system that client DID receive card and PIN, and THEN I can do the online enrollment.

More to be revealed.....

V/R,
nwlivewire

 

Probably opened a Piso (a/k/a peso) account and gave you an ATM card so you could access your funds from ATM machine and not have to go into bank and write a check. FYI - Personal checks in the PI are pretty much useless unless you run out of toilet paper. Nobody here will accept a personal check as payment like at grocery store or for electric/water/phone bill etc.. Cash is king in PI and a few places will accept either debit and/or credit cards like Robinson's Mall and Grocery Stores (2). A checking account here is basically useless unless you have an established business and lines of credit with a local bank for payment to suppliers already set up which is very difficult to accomplish especially for a foreigner.