It is true that US banks have very bad exchange rates.
Philippine banks have very competitive exchange rates. This is why it is best to transfer money into a US dollar account here in the Philippines first and then convert it into pesos here.
Best Posts in Thread: Suggestions on transferring my money to me from the states
Transfer to BDO can take anywhere between 1-4 hours which is sensational service for an international transfer. I use the PAYID system in Australia to instantly pay Wise from a bank account in Australia, they update on their site and email to say they have received it within minutes and that they have already made payment to BDO.
They request a reason for payment from a drop list and I always pick general living expenses.
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