Bank Account In Phils

[Joan >3 Bob 20]

Does anyone know the requirements for a Foreigner to open an account with BDO Bank? I will need one set up for my Philippine investment dividends to be direct deposited and want to open an account this upcoming trip in July.

[I AM NOT THAT GUY 5,715]

Does anyone know the requirements for a Foreigner to open an account with BDO Bank? I will need one set up for my Philippine investment dividends to be direct deposited and want to open an account this upcoming trip in July.

http://www.bdo.com.ph/Personal/DepositsInvestments/InitialDepositRequirements.asp

[tallcoolone 102]

Does anyone know the requirements for a Foreigner to open an account with BDO Bank? I will need one set up for my Philippine investment dividends to be direct deposited and want to open an account this upcoming trip in July.

Banks are flaky at best in Philippines.

PDIC only covers 500,000 or about $11,000 USD if the bank goes out of business, and they do go out of business

[I AM NOT THAT GUY 5,715]

Banks are flaky at best in Philippines.

PDIC only covers 500,000 or about $11,000 USD if the bank goes out of business, and they do go out of business

Yep. And PDIC rarely pays out. I have a friend that has about $30,000 USD in a failed bank, and after 6 months, they still haven't distributed the remaining assets.

[Joan >3 Bob 20]

Banks are flaky at best in Philippines.

PDIC only covers 500,000 or about $11,000 USD if the bank goes out of business, and they do go out of business

Thanks for the info I will be sure to not go over the covered amount.

[Gumbolette 58]

My husband and I have our joint bank account in China bank and they have asked the following:

Copy of his passport

Marriage Certificate

BC

Driver's license

and 4 2x2 pictures.

BDO might ask the same ones. So just bring his personal IDs.

Edited May 10, 2011 by Cutie_Patootie

[A and T 82]

I was able to open a bank account with just my passport while still on a tourist visa. No problem at metrobank

[tallcoolone 102]

My husband and I have our joint bank account in China bank and they have asked the following:

Copy of his passport

Marriage Certificate

BC

Driver's license

and 4 2x2 pictures.

BDO might ask the same ones. So just bring his personal IDs.

Just another reason to stay away from China Bank

I walked in one to change some dollars to Pesos, they wrote down every serial number of the U.S. money and it took about 30 minutes. I think I had 6 bank officers working on one little transaction.

I will never step foot inside another China Bank, Very stupid way of doing business and by seeing all the Bull$hit you had to go thru to just open an account.. Good luck if you ever try to close out your acct...........

[A and T 82]

Just another reason to stay away from China Bank

I walked in one to change some dollars to Pesos, they wrote down every serial number of the U.S. money and it took about 30 minutes. I think I had 6 bank officers working on one little transaction.

I will never step foot inside another China Bank, Very stupid way of doing business and by seeing all the Bull$hit you had to go thru to just open an account.. Good luck if you ever try to close out your acct...........

Metrobank did the same to me when i made a deposit, they wrote down every serial number I told my wife it was insane , she seemed to think it was completely normal. It took forever

[Joan >3 Bob 20]

Thanks for the info on China bank but I already had my mind made up on using BDO for business reasons. I just received word last night that a BDO Bank in Manila will let you open an account with your passport and other picture ID such as state drivers license.

I have experienced the same with exchanging money in Ozamiz City, them writing down each serial number and looking at each bill with a magnifying glass but was not in a bank.

[tallcoolone 102]

Metrobank did the same to me when i made a deposit, they wrote down every serial number I told my wife it was insane , she seemed to think it was completely normal. It took forever

That's cuz in Philippines they are taught and conditioned that stuff like that is normal.

Don't question authority, Don't complain if you are done wrong, etc..............

[~happyndinlove~ 540]

When we opened our bank account at Metrobank, all they asked for was a copy of our passports, driver's license and my tax ID.

Edited May 10, 2011 by ~happyndinlove~

[damulag 26]

I took travelers checks on my first trip, after one trip to a bank to cash them i just used the atm and ate the charge. Again wrote down each serial number, passport number, and took forever. Once I inquired about opening an account and was told there was a $500 minimum balance required.

[tallcoolone 102]

Another thing when you exchange US Currency they seem to check it for penmarks or stamps or tears, and most places won't take it.

I just started using black market money changers or going to the Western Union and exchanging currency their....