Dumaguete Info Search


Suggestion Who can suggest an above average bank in Dumaguete?

Discussion in 'Banking - Investing - Finances' started by Dave_Hounddriver, Jan 7, 2016.

  1. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    I am not sure about DFAS but I have VA disability and it gets deposited into BPI. Only problem is they don't show it on 1st of the month. Banco Sentral Ng Philippines holds all monies coming through the banking system for a day or two before they release it to the local banks so I usually get the money on 3rd of month unless a weekend and then maybe not until 5th of the month. Something you should be aware of. I don't believe this happens in bank to bank transfers just monies that go through the central bank here.
     
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  2. Frodo

    Frodo DI Member Showcase Reviewer

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    Hi Dave: Thanks for your comments on VA disability. I can only speak knowledgably about my military pension. I never receive my pension on the 1st, which I attributed to the time difference. In America, I noticed that my pension would usually post about 05:00 hours (east coast time), which is after BPI closes here. Note: Military pensions must go into a BPI passbook account so I am not able to view/access the money online. Whenever I showed up at BPI the morning of the 2nd my pension was available. I cannot guarantee that is always the case, but it was the case whenever I happened to go to the bank on the morning of the 2nd. THANKS for helping me clarify this important point!
     
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  3. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    Most welcome. I usually see it on the 3rd to 5th of the month depending on if there is a weekend or holiday. I did research many years ago and found most monies coming into the PI had to go through the BSP (Banko Sentral ng Philippines) which is just like our Federal Reserve. That's been my experience though. Yours may be different due to the fact your Military Pension is deposited through Mellon Bank and transferred to the PI. I believe that is different. As far as I know a bank to bank transfer doesn't go through the central bank (BSP). Though I am not certain.
     
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  4. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    Dear Frodo and Dear DaveD:

    Thank-you both for your MOST informative comments re: VA disability/military pension and the PI banking system.

    Next month, I travel down to Los Angeles to set up a BPI account.

    So FRODO, I'm thinking of doing the military pension thing with BPI.

    However, I have one small pension left to set up - and it the VA pension one.

    DaveD, if I read you correctly, I CAN set up the VA pension directly with the local bank branch in Dumaguete???

    No need to get this (the VA pension) set up in advance while I am still here in the States?

    **********

    I've got a slight delay in game for my ETA to Dumaguete.

    I've had to push back my arrival to the PI for Jan/Feb 2016 - about a six month delay.

    Had to shell out quite a few bucks for my sister's health care, and then I got hit with an IOU - love and kisses, the IRS. (Grrrrr!)

    But, all is OK - just a delay in game. I want to make sure ALL is OK with the IRS. Once I leave US soil, I DO NOT intend to return for a few years. And the LAST thing I want is to have to get some stateside IRS notice, or pay even more money to shut them up by not appearing stateside.

    So once I make my last and final IRS payment, and then get the IRS "green light" GO letter - two months after that - I'm gone!

    It's funny, just when you think you can FINALLY get out of Dodge, up pops the Devil (IRS).

    Thank-you Frodo and DaveD for all your informative banking stuff.

    I look forward to meeting so many of you all and your families when I arrive.

    I feel like I will have many a good friend to make!

    V/R,
    nwlivewire
     
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  5. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    Dear nwlivewire,

    Yes, here is the form online you can print it out and bring with you to the bank. See: http://www.vba.va.gov/pubs/forms/vba-24-0296-are.pdf
    This is also helpful for DD-214, SGLI/VGLI Insurance forms etc.. See: VA Form 24-0296

    I will ask the Bank Manager at BPI (Mr. Raymund Pinero) if they are familiar with VA direct deposit as I did it at a different branch in Luzon. By the way one big convenience of using BPI is you can access your bank account from any branch anywhere in the Philippines which is very handy if traveling around the PI visiting new areas. You will be surprised, not many banks here do that and it is so very helpful. Plus no hidden fees to do this which is another perk most other banks here don't provide.

    I also look forward to meeting you.

    The devil (IRS) always gets their pound of flesh!!!
     
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  6. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    Thanks DaveD!

    Look forward to getting an easy answer and having an easy time doing Direct Deposit when I get to Dumaguete. Let's hope BPI Dumaguete can do this!

    And you're not a-kidding about the Devil getting his pound of flesh.

    GEEZE LOUISE!

    But I suppose it was better to get this kick before I left. I just hate it when the screen door slams me on the way out the door.... hahaha

    V/R,
    nwlivewire
     
  7. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    At least it's before you get here so you can get it all taken care of relatively easily from home and when you get here it will all be behind you and hopefully you will be done licking your wounds and be able to enjoy life here.
     
  8. nwlivewire

    nwlivewire DI Senior Member Showcase Reviewer Blood Donor Veteran Army Navy

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    AMEN BROTHER!
     
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  9. AlwaysRt

    AlwaysRt DI Forum Patron Highly Rated Poster Blood Donor Veteran Air Force Marines

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    Just implemented my (seemingly contrarian) ATM method at BPI. Got charged the p200 fee but as I mentioned before Schwab will refund it at the end of the month so I count that as zero. Most interesting to me is according to xe.com the current rate is us$1.00 = p47.86 and BPI gave me p47.97! I'm happy so far...
     
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  10. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    Yes, they give good exchange rates especially on foreign credit cards as they make their money on the back end from the credit card fees they get.
     
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