Brian....since you allready have an account with them maybe you will not need the tin.....I opened an account with them few months ago and had to get a tin....If you do,, its no big deal, the bank will give you a request form, just take it to BIR join the line, and wait a while sir.....If you are lucky and get there early, you should get it same day...Dont forget to take a cut lunch

 

Yes. Understood, but would the Philippine bank be smart enough to know if opened as a Philippines citizen. My guess is that there is a simple flag in some database that says US citizen and if not checked reporting is ignored.

 

About 6 weeks ago I took an acquaintance into BDO in Robinsons Mall, the bank I use. I introduced him to the Manager. The branch manager asked if he wanted to open a dollar account. Since I have heard of other horror stories about trying to open a bank account here, so I almost kicked my friend off his chair to say "yes, i want to open and dollar account". He had been in the country for 3 days and had not even visited BI at that point in time. All he was asked for was his US Passport, and the minimum first deposit. I think the minimum starting deposit was $400 dollars. I am not sure how other banks or even branches of BDO work this smoothly, but it was a snap to open a dollar account that day. I know from experience at that branch location, that if you hand money to teller for a deposit, you can not withdraw the money for 10 banking days, if however it is transferred in, say by Xoom, then it is immediately available. There is no service fees is a $400 average minimum balance. You experience may vary, but we had a good banking day that day.

 

I had to obtain a TIN when I sold my house/land in the Philippines. My attorney obtained one for me. If it is a requirement to open a bank account, you might inquire at the bank the best way to obtain one. It could be that they are being forced to obtain this info by the foreign banks wanting to tax the Philippine account holders for interest earned on accounts in other countries. I know that the US was going to start requiring the Philippines banks report account info of all of the US bank account holders. Not sure if other countries were doing the same.

 

It is simple to do anyway. Bank gives you a letter, take it to the BIR, fill out the form, wait for your number to be called, and done. Same kind of feeling as dealing with BI although probably a bit longer wait time.

 

I too have been trying to find away to fund my paypal account from within but its not possible to fund your filipino paypal using pesos ( i have contacted paypal about this) as paypal philippines is under the paypal USA wing, when you need to contact them you need to call the USA..........best download the paypal APP, that takes care of that issue

i have two paypal accounts one here and one in ireland ( i can fund it from ireland but not from the phils), you can withdraw from your paypal to the bank no problem, but the other way around no chance