Retirement Visa STATESIDE TIMELINE FOR US VETERAN & COURTESY SRRV PROCESS

That sounds very similar to how The VA handles my local disability direct deposit. Only the recipients name (mine) on account (no spouse/SO whatsoever) and only over the counter withdrawals/transfers. I suppose that cuts down on fraudulent transactions.

 

Thank-you Forum members for all this valuable input!

So it looks like there is a Federal Benefits Unit (FBU) in Manila, and there is a work-around NOT posted on the SSA IDD list of counties approved.

I have decided that since I will eventually be relocating to Duma after my VISA stuff is completed up North, and, since I will be the only family member living in the Philippines and outside the USA, I have decided to keep all my Direct Deposits going to a US bank on US soil. Making transfers from account-to-account via the internet will work just fine - or I hope so when I make my first transaction here in the States in a couple of months.

Should something happen to me (serious illness or death), it will be much easier, less costly, and quicker for my Stateside Son to handle things like POA and probate issues.

I am now in San Francisco, CA, and will be speaking this week with HSBC and the Philippine Consulate.

More to follow....

*** While I was in Los Angeles last week, my Sister went to Hospice Care, so this has been a very trying time for my two Nephews and me. My Sister acted sooo much as a Mother to me when I was a kid, and her impending loss weighs heavy on my heart and mind.

V/R,
nwlivewire

 

Yes, 100% correct. It's a PITA for you designated beneficiary to try to do that from USA for local PI accounts etc. Better everything stay in USA and just transfer what you need for living expenses. Plus have a credit card for emergencies. Especially with your desired intent to only be here for school and then on to other destinations. Best to keep everything in USA. That way your funds are protected by FDIC for what that's worth.

 

Dear Dave:

I share your thoughts about this, too. I will have a CC for back-up, and, if I need to, be able to use a different debit card.

The FDIC is currently in a very, VERY poor state of affairs. According to this article, should there be a significant bank collapse of even ONE major top 5 banks, depositors in America will be in for a rude awakening. See below:

Big Banks Will Take Depositors Money In Next Crash -Ellen Brown | Greg Hunter’s USAWatchdog

Bill Bonner and Casey Research are writing very similar scenarios - so is International Man.

Like that old saying goes, "Never put all your eggs in one basket."

I'll be off to Belize or Panama (not sure which one yet) before I depart for the Philippines to set up something down there.

Once I arrive and receive my three-year SRRV, I'll be paying a visit to Singapore to set something up there.

These will be conservative monthly savings plans, but hopefully will generate more return than what I can get in an interest-bearing savings account here in the States. And I will have access to investment instruments in these places that I cannot get in the States due to the laws that currently favor the interests of the US Banksters which limit my choices in the States.

I think in April 2016, USAA will no longer reimburse your account with the banking/ATM fees coming from any tranactions outside the US and its territories.

This will hit USAA retirees living abroad the hardest, many of whom have been members for years and years. USAA has been aggressively advertising their banking and services here in the States, and have broadened their membership eligibility rules. I suppose USAA needs to take this reimbursement benefit off the table from their overseas retirees in order to pay for their Stateside advertising budget. I know I'm being a little cynical here, but this really sucks for all those USAA expat military retirees who utilize this service on a monthly basis. (And all the while these Banksters SAY, "Thank-you for your service.")

So I will be setting up alternatives, which may be slightly (slightly) a bit more costly to initially set up. But hopefully, I'll be able to generate a bit more return over the long haul to justify this, and be a wee bit better ahead in 3-5 years than simply keeping everything in the States at low, low interest.

I can set up situations in these nations where my Son can be on the paperwork, which will become a smoother transition for him when things pass to him. Less red tape and more cost effective for him when the time comes. Less fingers and thumbs in the pie as they say.

V/R,
nwlivewire

 

I think preparation is generally rewarded. On the other hand Western Union will let me transfer $2,999 for $2.99 for local pickup in 24 hours if not instant. Transfer from account to account is instant. I use WU because my bank doesn't deal with a lot of Philippine banks. WU works with all of them as far as I know. I have ATM and separate debit cards to back this up. It is simple, has not been trouble free but after more than one year we actually seem to have a business relationship where WU automatically authorize anything that is in character with what I have done previously. I can start a local account with any bank I desire for more redundancy. I always try to keep a months living expense at hand in cash, which also serves as hospital money to make sure that I or someone I care about gets treatment without red tape problems in an emergency. I carry enough cash on me to get the ball rolling, 10k php plus whatever I think I will spend that day. After a rocky first few months WU has been a good intermediary. If they ever fail me I will have a few months to get things straightened out but I don't expect they will. All but a few months expenses stay in the US where my bank has free checking and no fees because I am a veteran and they have been fairly satisfactory.

 

Dear robert k:

Thank-you for letting me know about Western Union (WU).

I've never dealt with WU, so this may be a really dumb question.

But what is the process (what do you need to do) to get your US bank to send you money from your US bank account to your local WU office?

This sounds like a good back-up for me to use, too.

I'm assuming WU converts your USD to a PHP check, right?

If so, who does the conversion - the bank or WU? And what is the conversion rate when compared to the account-to-account rate?

I figured out that the Wells Fargo to PNB account-to-account rate will cost me 6 USD per 1,000 USD when compared to the interbank rate. Plus 5.00 USD for the Wells Fargo transaction fee. It will be most favorable to me when I transfer 2100 - 2999 USD at a time to PNB, so I won't have to transfer very often.

Sounds like a good back-up - just in case.

Thanks!

V/R,
nwlivewire

 

Just go online to Western Union and start an account, they will save your information if you are sending from your bank account and from then on you will have to select the amount to send, whether it is for pickup or direct bank deposit. I think in the beginning they want to verify every single transaction until they learn your pattern, after that they approve without checking if it is in character. If a transaction seems out of character, they will put it on hold and e-mail you. I doubt they will ever put anything on hold after the first successful bank to bank transfer.

The most important thing to remember is that if your account is with Western Union USA, you want to send yourself money using Western Union USA. Do not try to send yourself money online with Western Union Philippines as that won't end well. Yes they are the same people but for some reason I think they are compartmented. If you have to call them for any reason, you will most likely be calling a call center in the Philippines and those girls are good at getting your money to the Philippines. Some of them will flirt with you.

 

I thank-you for this alternate route!

I will try this when the Philippine Bank gives me my ATM and routing number in a couple of months, and let you all know how this all pans out for me in the States.

V/R,
nwlivewire

 

Went to HSBC San Francisco, but this bank requires a minimum of 100,000 USD as a minimum monthly balance in order to waive the 3 % Foreign Transaction Fee (FTF).

WTF! I can do WAY better than that!

Screw the US Banksters and their favorable laws here in the States.

Why in Heaven's name should I tie up 100,000 USD in a F'ing passbook savings account at piddly A$$ interest just so I can save 3% in a FTF? Hell, the interest rate on 100K wouldn't even make up for inflation!

WTF!

**********

So, I then went over to the Philippine Consulate in San Francisco, CA. They are tomorrow, Thursday, FEB 25, "due to a Philippine Holiday". AHHHH YES. I guess they get BOTH US and Philippine holidays off. Must be nice!

They told me to come back at 8:30 am on Friday, FEB 26th. No appointment needed - first come, first served.

I sure hope they are open as I depart on Sunday, so Friday is my last chance with them while I am here in San Francisco.

Will report whatever happens in the next 48 hours....

Meanwhile, I have two weeks of university homework to do tomorrow, so it's back on my head....

V/R,
nwlivewire

 

I think it could serve you well. $1 per $1,000 is not bad. I don't think they would give you any trouble with bank to bank transactions. They just wanted to check mine because I was always picking up my money at a WU location in USD and changing it myself before banking it so I could get a better rate.

I had an account with PNB for awhile but it cost almost as much for their fee to deposit a foreign check as to wire it to myself with WU and WU didn't take 1 day short of 7 weeks. At PNB they asked why I was closing my accounts I told them 7 weeks is too long even for a first time deposit of a foreign check. They said it was because of the Christmas Holiday. Yeah, right. I figured on 5 weeks. I was patient for a week extra but after 6 weeks I decided they were just milking it. I went in on day 48 and they told me another 3 days. I was polite and didn't say. But I was firm that I was closing my accounts, my piso account today and my dollar account as soon as that check cleared.