Best Posts in Thread: Closing an Account

They did not tell you that the export of funds is not allowed. They told you that the export of pesos is not allowed. Their law is completely idiotic, but you can still transfer your funds out of country.

Have you done this? There seems a very simple solution to your problem. Convert to dollars and transfer.

Remember the average IQ in the Philippines is 85. You are likely talking to someone borderline mentally retarded. Your instructions need to be simple and precise or they will get confused. Remember to lie and tell them what they want to hear. "I am not closing my account or moving out of country. I will continue to do business with you. Can I have a brochure on investment options your bank offers?"

 

They won't let you do a wire transfer? Pretty sure they can't stop you from doing that.

I find that lying is the always the best approach in the Philippines. Tell them it is just a regular wire transfer and you aren't closing your account. Once the account is empty tell them to p*ss off. They can keep the account open as long as they like and charge your all those minimum balance fees they like, screw them. What are they doing to do about it?