i have changed my va check to a philippine bank says 5 business days. i go today and ask she told me will take 2 months for the first direct deposit to be approved even though ebenfits shows the many was sent there.the account dont even show the money pending. im not good with banks i dont understand them but how the heck does it take 2 months.the bank only covers 500kphp if i wait 2 months the va will have deposited more then that in the account.can i get some advice please? does it really take 2 months for the first one to be approved?
E-benefits is where you got off track. e-benefits means that there is a NONE THINKING MACHINE in the works. It is NOT a bank problem. It is the USA government policy. I moved my direct deposit from one bank to another, both banks in the same town and it took 2 months. Here is how it works; The deposit you are looking for now is in the old bank and next month it will be where you want it to go now. They require ONE FULL calendar month to make the transfer, after they receive your request for that change in banks. The month in which you made the request dose not count. Your last deposit is in the same old place/bank.
To get slightly off track, but having been here three years, I keep a PO box AND a bank account in the US, saved a lot of time and hassle during that time. The PO box service has humans involved, small franchise in my old home town, they can ship stuff every once in awhile and it provides an somewhat official address. Yes, it is an added expense, but i think worth it. Also have a bank account and post office box in dumaguete...
I have my VA check sent to a US bank account and can then transfer to a Philippines bank account through Transferwise with a minimal charge ($4-5) within 24 hours. I think the limit is around $3k USD but I'm not sure on that. I know the limit for wire transfers within the US is $250k USD but I think these money transfer companies have much lower limits due to money anti-money laundering laws/concerns.
I have transferred much more than this. You may have been limited by your financial institution in the US. Often they will limit amounts transferred out of accounts held by them. Or you may have been limited by the ACH transfer limits $10K - $15K depending on the state the account is in. Generally speaking the limit is $1 million but you would have to get the money to Transferwise with a wire transfer. Here is the link that describes the limits. https://transferwise.com/help/14/currencies/2932150/usd-transfers
I went to bdo today and they was the problem.the girl opened a peso savings account which bdo does not allow va pension thru. BDO was holding the money cause was not a direct deposit account.so they opened me a dollar account and i got my money today.it takes 24hrs from the intial deposit.thank you for you assit and my issue is know fixed hooarh
Meant to add that we have two bank accounts, one in pesos and one in dollars, can transfer from one to other on website.
edward... what bank are you with that allows online transfer from a dollar acct to a piso acct? tnx... thanks guys
BPI, although the new website (since march) is so screwed up that it's not yet available. Used to be able to do it, and am told it will be available "soon." <<"Soon-To-Be-Available Service" - "US Dollar to PHP Exchange">> As
