Needs advice about wiring money to the Philippines

[TeapotGirl 66]

I will be leaving a lot of pending business here in the Philippines. I will have an unpaid lot, credit card, pending SSS Loan and I want to continue my contribution.

I do not like to use MoneyGram, Xoom or LBC because it eats up a lot of transaction fee.

For 3yrs, my fiance gave me his ATM to save money for his vacation here (he's a spendthrift and money is kinda tight as well). He's only charged for $6 for every $235 or less that I get. I am looking for other ways to wire money but here are my situation...

-I am thinking about opening up a BDO account but there's no BDO in Cleveland. I cant try to open up an account remotely but how much is the charge?

-How about PNB? I heard it's cheaper but I don't know how much?

-Can my brother open up an account here and I'll just wire a money through my husbands account from Cleveland using computer?

-How is the swift code work?

-The only banks that I know exists on both Cleveland and the Philippines are HSBC and Citibank. Can my brother open up an account here on either banks then I'll just deposit a money in it? Does it need swift code? Anybody knows about the charge?

Leaving my husbands ATM is the best thing that I could think of now but not that I do not trust my brother for the ATM but I am looking for other ways to transfer money in the Philippines when I am already in the US.

Any input will be highly appreciated. Thank you.

[mapletree 33]

Bank wires generally run $10.00. Western Union, 3-day to a bank account is generally $8.00. The key is to wire larger amounts fewer times. $200 is a 5% wire fee. $1000 is a 1% wire fee.

Even moving money into a PNB branch here in the USA is not as easy as you think it should be.

[TeapotGirl 66]

3-day to a bank account is generally $8.00. The key is to wire larger amounts fewer times.

Is that a flat rate or it depends on how much you're going to send?

So I am still going to pay even if I'll just deposit to my brothers account in the Philippines?

[The Humanists 10]

You can open a BDO account for your brother here and then open a Wells Fargo account when you get to the US. You can transfer directly from a Wells Fargo account to a BDO account. The fee is $5 per transaction, whether you're transferring $100 or $1000.

[SuperDuper! 230]

Get a PMA acct at wells fargo. Great/fair dollar>>peso conversion rate and NO transaction fee!

Word!

[TeapotGirl 66]

You can open a BDO account for your brother here and then open a Wells Fargo account when you get to the US. You can transfer directly from a Wells Fargo account to a BDO account. The fee is $5 per transaction, whether you're transferring $100 or $1000.

Really?! Wow!I see there's Wells Fargo in Cleveland. This could work. Thanks...

Get a PMA acct at wells fargo. Great/fair dollar>>peso conversion rate and NO transaction fee!

Word!

What's PMA? I can xfer funds to the Philippines for free?

[Theresa0828 65]

I don't know about HSBC but before I went here, I went to Citibank to inquire and the maintaining balance is like P150,000-P500,000. I felt so poor sitting in their office in front of an officer... hahahaha, but in fairness, he was so nice to me, if he only knew what's in my head (I was like, #######??? P150 thousand???!!!)

What I am doing now now is opened an account at Wells Fargo for their Expresssend, its like $7 dollar per send, I just do not know if there is a ceiling or something since I only sent enough for my monthly credit card payments (I had my account applied to a 0% payment so I get to pay an exact amount every month).

My bank in the Philippines is BPI and before I left, I enrolled my account to BPI Express online, then enrolled my credit card as third party merchant (my credit card is not BPI). I think BDO is also good for this too. Just make sure that your credit card company and SSS is including in their list of merchants. I think Metrobank has the same product too.

So basically what I can do now with Wells Fargo Expresssend and BPI account are:

1. Send money to my Philippine account online (with a fee of $7 per send), i send money every other month just to save with the fees.

2. Send my money online to my brother who has also a BPI account, this is free using BPI expressonline. (make sure that you enroll your relative account to your account before you left the Philippines)

3. Pay my credit card bills online, this is also free (make sure that you also enroll your credit card account to your BPI expressonline account)

Hope this help.

[SuperDuper! 230]

Really?! Wow!I see there's Wells Fargo in Cleveland. This could work. Thanks...

What's PMA? I can xfer funds to the Philippines for free?

You may not qualify for a PMA acct, but Wells Fargo is about the best deal going to wire money to the PI, even if you have to pay $5 each transaction. If you have your mortgage with WF, they give you better terms as well. Inquire within.

[The Humanists 10]

Really?! Wow!I see there's Wells Fargo in Cleveland. This could work. Thanks...

No problem! We do this regularly. We transfer money from a Wells Fargo account directly to a BDO account, and the transaction fee is always $5, whether we're transferring a few hundreds or more than $1000. There's a minimum amount you can transfer, and I could be mistaken, but I think it's $25.

[BobGee 5]

This is a very helpful posts.

For those who have experienced and know about this kind, is Wells Fargo hAve each branches of each state in the US? Say, Washington State?

[TeapotGirl 66]

This is a very helpful posts.

For those who have experienced and know about this kind, is Wells Fargo hAve each branches of each state in the US? Say, Washington State?

Click here to be specific.

[TeapotGirl 66]

I don't know about HSBC but before I went here, I went to Citibank to inquire and the maintaining balance is like P150,000-P500,000. I felt so poor sitting in their office in front of an officer... hahahaha, but in fairness, he was so nice to me, if he only knew what's in my head (I was like, #######??? P150 thousand???!!!)

I'd feel the same thing.

[BobGee 5]

Click here to be specific.

Excellent!

[TeapotGirl 66]

Excellent!

Looks like they're everywhere like BDO

Thanks for everyone who shared their thoughts. Cheers!

[Joandjo 20]

I will be leaving a lot of pending business here in the Philippines. I will have an unpaid lot, credit card, pending SSS Loan and I want to continue my contribution.

I do not like to use MoneyGram, Xoom or LBC because it eats up a lot of transaction fee.

For 3yrs, my fiance gave me his ATM to save money for his vacation here (he's a spendthrift and money is kinda tight as well). He's only charged for $6 for every $235 or less that I get. I am looking for other ways to wire money but here are my situation...

-I am thinking about opening up a BDO account but there's no BDO in Cleveland. I cant try to open up an account remotely but how much is the charge?

-How about PNB? I heard it's cheaper but I don't know how much?

-Can my brother open up an account here and I'll just wire a money through my husbands account from Cleveland using computer?

-How is the swift code work?

-The only banks that I know exists on both Cleveland and the Philippines are HSBC and Citibank. Can my brother open up an account here on either banks then I'll just deposit a money in it? Does it need swift code? Anybody knows about the charge?

Leaving my husbands ATM is the best thing that I could think of now but not that I do not trust my brother for the ATM but I am looking for other ways to transfer money in the Philippines when I am already in the US.

Any input will be highly appreciated. Thank you.

Here's how we do it now. It costs $5.00 each time and we can send up to $1000 per day. My fiancee has a BPI account. I have a Wells Fargo account. Open a checking account at Wells Fargo, Take all the BPI info to the Wells Fargo Branch (there's alot in Massachusetts) BPI and Wells Fargo has a partnership. The first transaction has to be done at the branch after that it can be done on line. It's always in her account by 10:00 am the next business day.