⌛ P200 Charge for use of foreign ATM card

I never did pay a supplemental fee for the use of BPI's ATM. First it said that there would be one. Then that warning disappeared. Then it re-appeared. I continued to withdraw my usual number of PP10K transactions. I continued to pay my Canadian bank's charge for the use of the ATM. I never did pay BPI anything. I don't need an explanation - it just worked.

Recently, I took the plunge and had a recurring payment re-directed from my Canadian bank to BPI here. It took a bit of nudging to get BPI to acknowledge that yes it does use ABA transaction codes, even though its local official insisted that it did not. Now all is well.

I feel more like a real resident. I save about $50 each month in bank charges to boot!

 

My Wife just withdrew P10,000 a couple of days ago at BPI using an ATM card from My bank here in the States.$236 was deducted from My account. The current exchange rate is around 43.25 to 1 U.S. So that sounds about right, along with the P200 or so BPI ATM transaction charge.. I think BPI was the last hold out.. It seems as though all of the banks over there have caught on and are now charging this fee.. Good things don't last for ever, but it's still beats Western Union...cheers.....

 

I have not found a solution to avoid these charges other than those mentioned by previous posters: Deposit a check and wait 3 weeks for clearance or use the fee-less HSBC and Citibank ATMs in Cebu or Manila to withdrawal up to P20,000 and P15,000 each per day respectively.

 

Open a peso account (or dollar account at BPI) and use their ATM. You can open an ATM account at Metro Bank provided you have an ACR-I Card, so get it. Takes 45 days to clear a personal check deposit into that account, then use their ATM free. BPI has a dollar account. If you can get a cashier's check from your US bank sent to you (ask a delivery service to pick it up cause they use the post office) you can deposit that check, get an ATM card and be withdrawing in pesos in just a few days. There is a exchange rate fee, but no ATM charge if you use their ATM.

I think we should petition the US Ambassador to investigate this new charge since no one else does it that I know of. Or, expats could unite and close all accounts in one bank at a time informing the owner that we will not use their bank until they cease the charge.

 

Millionaire???

evrrrdy1. I guess you must be loaded, if you can wait for your pension check to take 45 days to clear? Lets be realistic here, we have been discussing this for a long time now, it is never going to change. Leopards do not change spots and Banks do NOT lower or drop charges. What we need is a way around this, that is not Time consuming, expensive or illegal. We, well most of us have dollar accounts, it is getting it there and withdawring without cost that is the problem.

Jack P.:(

 

Waiting 45 days for check to clear.

If yo are living from pay check to pay check, then I am certainly better off than that. I have some money in the states in the bank. I decided to transfer via personal check some of it to create a way around those charges. I should have done it a long time ago when the peso rate was P56 (May 2004).

If you have not savings, then I don't know what to tell you to do.

 

Not Me!

We are not talking about me, I have business, I am not retired, It is our retired friends here that need some advice. These charges came out of the blue and did not give some a chance to re-arrange things. as for Should haves, we are all guilty of that. When you are on a fixed income or retirement pension this Charge can bite into it a little to much.


Jack P.

 

hello guys,

I don't know if this will help but try to withdraw money over the counter using your card. If you if have a credit card you can withdraw money from the bank derictly. And they can give you the maximun amount that your credit card is allowed. I don't know now if they ask transaction fee ( the local bank ). Just try to ask in the bank most specially in the bank where you have an account pesos or dollar. Never forget to tell them that you are one of their clients. Pls if somebody has tried to withdraw over the counter using a credit card pls tell us the result specially if you had to pay the service and how much. Sure many people will be very happy about the informations. thanks in advance.


claire

 

i think that is fair enough. when im abroad and using my Philippine ATM, im also charged with about 200 - 250 PHP.

 

The ATM at Robinson's Bank next to Bo's coffee only charges p150 per transaction with p10,000 max. Only saves p50 but it's the best I've found.