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ATMs Max. Transaction Limit

Discussion in '☋ Dumaguete City ☋' started by nomad4ever, Jan 20, 2009.

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  1. nomad4ever

    nomad4ever DI Member

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    Hey guys! Can somebody tell me, what is the max transaction limit for Bank ATM's in Dumaguete?

    Funnily here in Goa, the Indian Rupee has currently a similar exchange rate like the Philippine Peso to the Dolllar. I can withdraw up to 25.000 Rupees per one transaction from a ATM. Of course can make more transactions, if below daily limit of my bank.

    Just wanted to inquire regarding the bank fees, is it possible to withdraw larger Peso amounts at once to live 1-2 months from it? Or do I have to withdraw in smaller limits, like 5.000 or 10.000 Peso at a time?

    As well, are there any ATMs of international banks like HSBC, Citibank or ING there?

    Thanks a million!
     
  2. Rhoody

    Rhoody DI Forum Luminary

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    with a international C-Card you can withdraw usually 20.000 a day, mostly 2x 10k as the banks limit it to that.

    plenty of ATM's but no "real" bank in Duma...

    cheers

    Rhoody
     
  3. davfitz

    davfitz DI Forum Adept

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    Hi nomad4ever:

    Actually, I think that you answered most of your own question yourself. I have not found an ATM in Dumaguete or elsewhere which will deliver more than 10,000 pesos at a single transaction. Beware that some bank machines have an even lower limit. The daily limit for multiple transactions is that which you have established with your own bank.

    My bank in Canada charges me $ CDN 5.00 per transaction. Obviously these will vary from bank to bank.

    It is not a question of international banks but rather of the affiliation of the ATM. My bank in Canada is affiliated with the "Plus" network. I have another card with a "Cirrus" affiliation. Look for an ATM here (Philippines) which is affiliated with the same network(s) to which your home bank is also subscribed.
     
  4. OP
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    nomad4ever

    nomad4ever DI Member

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    Rhoody and davfitz, thanks for the info! So it's max 10.000 Peso then? That's what I wanted to know. Yeah, have the same problem with the transaction fee, therefore I was hoping to withdraw higher amounts at once to ease that pain. ;-)
     
  5. Pedro

    Pedro DI Senior Member Showcase Reviewer Veteran Navy

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    Just curious, why not have your money deposited or transfered directly to one of the major PI banks? Open your own account and withdraw what you want.
     
  6. davfitz

    davfitz DI Forum Adept

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    Hi Pedro:

    That may be easier said than done. There is no blame attributable to the Philippines on this one as so many posters here are quick to do. I'm in the process of transferring a regular Government (of Canada) deposit to a joint bank established with my wife several months back. I'm told that it will take three months for my recurring deposit to be initiated. I'm holding my breath and keeping my fingers crossed until that happens.

    On verra!
     
  7. OP
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    nomad4ever

    nomad4ever DI Member

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    Pedro, also I'm not sure how long I will stay in the PI. So far I'm traveling every few months to another country. Having my funds always transferred to the country I'm in would rather sooner than later make me bankrupt due to excessive bank charges and unfavorable exchange rates.

    So I prefer to keep the few Dollars and Euros I have with my German and Singapore bank and only withdraw what I need wherever I may roam. ;-)
     
  8. Pedro

    Pedro DI Senior Member Showcase Reviewer Veteran Navy

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    I should have known, thats why you are the Nomad4Ever. Sounds like fun. I have already done much travel care of Uncle Sam's Yacht Club, time for me to establish my own base now.
     
  9. TheDude

    TheDude DI Forum Patron Highly Rated Poster

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    In BDO (is that the right name?) I was able to do a "cash advance" off my debit card. I pulled out over 20,000 peso's and I imagine the limit would only be the limit from my card. I got a really good exchange rate and my bank charged USD $3 from the transaction as opposed to USD $5 for the ATM charge.

    I'm not a member of BDO, so anyone can do this. They require your passport and scanned copy of the front and back of your card.

    I would rather not carry large amounts of money with me, so I will get a local bank account. Even if you are only going to stay for a few months, I bet it would be worth the effort. I think creating an account at BDO is pretty easy. You can then go in and do the cash advances and place that cash into your account.
     
  10. Stefan

    Stefan DI Junior Member

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    Hi.

    Check out some smaller banks in your country if they offer a card that have free of charge ATM withdrawals abroad. Atleast here in Sweden we have 5-6 smaller banks like ICA Bank they offer internet banking and free withdrawal from ATM's around the world. I use my ordinary bank to "move" money from to the ICA Bank's account through the internet. so the money is avaiable to the "free card" then I have no problems or costs whatsoever to withdraw any money in any country. It worked fine in countries like belarus and Ukraine as well as the philippines.

    Stefan
     
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