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Suggestion Best Posts in Thread: Best way to direct deposit monthly Salary from U.S. Bank to a Philippines Bank Account

  1. Pinoy Photog

    Pinoy Photog DI New Member Showcase Reviewer

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    Gosee Leo at Commerce bank next to Coco Amigos. He can help you.
     
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    Pinoy Photog, Aug 22, 2015
    #8
  2. PIfan

    PIfan DI Member

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    Best Answer
    Yes with HSBC you can do all the paperwork in the USA and upon arrival in the Philippines you can go to a HSBC branch and they will have a peso and a dollar ATM card plus a security device for online transactions waiting for you. I learned there are HSBC and HSBC Commercial and the Intl ones are Commercial for some reason, had to get a managers check to buy a vehicle and it was a run around in Manila. Transfers take a millisecond and the conversion to the peso account a day or so. You can also take out 2900 dollars a day no fee and then as in Cebu walk to Ayala and do an exchange and get a slightly better rate, take their recipt back to HSBC and deposit into the Peso account. Has taken me awhile to learn all this but I like market rates not .25p or so less
     
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    PIfan, Aug 20, 2015
    #6
  3. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Very trustable bank.!
    What surprises me is that they could have helped you further I feel.
    I had my PNB account in Madrid ( Spain for 4+ years.) I paid my Wife's money into that account by transfer each month and she had the ATM card to withdraw here, Now as we already know whilst it is not Directly linked Country to Country, Transferring was easy, although it was a closing of Madrid and reopened in Dumaguete with a Transfer of funds. Which by the way stands you in good Stead as having a PNB International account before( I got my MC straight away, no waiting the 6 months as normal) All they needed in Dumaguete was a sample Signature and proof of ID's ( all done on my Passport)
    I believe I closed it on a Wednesday and I flew from Madrid that night and by the Following Tuesday I was up and Running, in the Philippines.
    Like many things, if you go about it in the right way Things become a little bit simpler.
    As always here, Mileage may vary

    JP :wink:
     
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    Jack Peterson, Aug 23, 2015
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  4. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    Wells Fargo Bank in the USA and Philippine National Bank have established a link whereby you can set up a Wells Fargo account and a PNB account in advance of arrival to the Philippines.

    Not sure exactly how this works, but when I spoke to the Los Angeles, California, Branch of PNB, I was told I had to come in personally to sign up for an account.

    Wells Fargo said my first transaction to a PNB account had to occur in person at a Wells Fargo Bank in the US.

    https://www.wellsfargo.com/help/faqs/international-remittances/

    PNB Los Angeles

    If I remember correctly, I will need to set up a Wells Fargo account here in the USA first, then open a USA PNB account thereafter (Los Angeles). And then before departing to the Philippines, I need to make my first transfer from Wells Fargo to the US PNB branch account - and do this in-person transfer at a Wells Fargo branch in the USA.

    PNB in Los Angeles told me over the phone that they can assist in paving the way to a Philippine account once I get to the Philippines.


    https://www.wellsfargo.com/about/press/2014/pnb-expresssend-remittance-network_0710/

    http://blog.timedoctor.com/2015/03/13/whats-the-cheapest-way-to-send-money-to-the-Philippines

    https://www.wellsfargo.com/help/faqs/international-remittances/

    This is a fairly new linkage, so this is all I know about this - and the above information is based on what both banks told me via telephone conversations.

    Let us know what works best for you.

    V/R,
    nwlivewire
     
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    nwlivewire, Aug 23, 2015
    #10