# Sending money to the US from the PI.



## SierraMadreMe (Mar 26, 2015)

Brother in law asked me if I had any experience sending money to the US. He made a loan to a family member,and is now going to be repaid. The question is how to get the money sent to the US...especially in the neighborhood of $30k US.

I never considered, or had occasion to send money the other direction. Anyone?


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## magsasaja (Jan 31, 2014)

SierraMadreMe said:


> Brother in law asked me if I had any experience sending money to the US. He made a loan to a family member,and is now going to be repaid. The question is how to get the money sent to the US...especially in the neighborhood of $30k US.
> 
> I never considered, or had occasion to send money the other direction. Anyone?


We have sent money to Australia on a fairly regular basis for the last ten years using BDO bank. Involves filling in a form at the bank which they then send to the head office for approval. Takes about half an hour for approval and the money is there the next day. Wife is at work just now, so will ask her to look out the forms when she home, as can't remember what it is called and the fees.


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## Gary D (Oct 28, 2013)

I would try and send it in dollars.


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## Lunkan (Aug 28, 2020)

1. Is prood kept at money send TO Phils from USA (between same persons) ? 
If so bring that when applying because that give RIGHT to send back the money.
Can be the RECIEVING note you got or something else the recieving bank can confirm too. 

(2. If problem with docement proof of p1. . Was it a loan to start *business*? If so - PERHAPS can get it out by the lender in USA send an INVOICE to the Filipin business and then show that to get approval to send out.)

((3. Or split it in lower amounts and split in time and between different transfer services. BUT such take long time and is questionable if legal if not enough time in between. I dont know how much time it need to be between different transfer to be sure legal. ))


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## magsasaja (Jan 31, 2014)

Wire transfer done at the bank. If using pesos, they convert the money into US dollars before sending. We have also used Metrobank and BPI to move money abroad. They ask for tin number, source of the funds and reason. Never been asked to show any proof of source of funds and we have moved a few pesos!!


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## Lunkan (Aug 28, 2020)

magsasaja said:


> Wire transfer done at the bank. If using pesos, they convert the money into US dollars before sending. We have also used Metrobank and BPI to move money abroad. They ask for tin number, source of the funds and reason. Never been asked to show any proof of source of funds and we have moved a few pesos!!


 If you moved more than the - very low - free max, and if you didnt show how money got IN to Phils, then the bank dont know the law, didnt bother, or perhaps you bribed?  
(Phil law concerning moving out money has much lower max than whats common international. Only 1/10 free max if I remember correct.).


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## bigpearl (Jan 24, 2016)

Have you ever accomplished this Lunkan? Or simple here say?

Cheers, Steve.


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## Lunkan (Aug 28, 2020)

bigpearl said:


> Have you ever accomplished this Lunkan? Or simple here say?


 Neither of them 
A long time ago, so I dont remember details, I did READ the rule/law somewhere,
and because of that I keep my prooves of I have moved IN money, so I can use these prooves to get biger than the normal max rule out, if I ever will want to.

There is a max move out money rule - as in many countries but in Phils its much lower - but has an important EXCEPTION if have moved in much money. (And can proove it.)

Most/all of my personal (I invested private) profit shares I plan to reinvest anyway,
and in the contract is *prepared* to my Swedish business can get pay by using *INVOICE*. (Because my Swedish business consulting business made the research and business plan against a percentage of profits, similar as I have charged for Business consulting in Sweden mostly too. My Swedish business is an other juridical persom than I myself, so they can make deals with each other  and separate too.)


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## magsasaja (Jan 31, 2014)

Lunkan said:


> If you moved more than the - very low - free max, and if you didnt show how money got IN to Phils, then the bank dont know the law, didnt bother, or perhaps you bribed?
> (Phil law concerning moving out money has much lower max than whats common international. Only 1/10 free max if I remember correct.).


The money was made in the Philippines! If anyone came knocking at our door it would be easy to prove. 
Banks not knowing the rules or bribing someone is just gibberish.


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## bigpearl (Jan 24, 2016)

Here say and failing memories (no back up for statements) mean diddly squat with reality and seems to be attributed to trawling or simply nothing better to do than annoy and question others and questioning facts supplied to simply sit and type. My bad for being blunt. [email protected] happens.

Cheers, Steve.


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## SierraMadreMe (Mar 26, 2015)

I appreciate all the responses and the help. I really don't know all the particulars.It's between family members. I don't normally want to know what is going on between people unless invited. Moreso with family and all the entanglements that normally follow along.

Now that I think about it,there is a family member (or a favorite classmate of a trusted family member) that is a manager at one of the bigger local banks. That would likely be the better avenue to pursue an affective legal transaction.

Funny how the obscenely rich can move billions on a whim, but let the common man try to move over $9k and alarms sound world wide.


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## bigpearl (Jan 24, 2016)

SierraMadreMe said:


> I appreciate all the responses and the help. I really don't know all the particulars.It's between family members. I don't normally want to know what is going on between people unless invited. Moreso with family and all the entanglements that normally follow along.
> 
> Now that I think about it,there is a family member (or a favorite classmate of a trusted family member) that is a manager at one of the bigger local banks. That would likely be the better avenue to pursue an affective legal transaction.
> 
> Funny how the obscenely rich can move billions on a whim, but let the common man try to move over $9k and alarms sound world wide.


Ted from memory? Hope I didn't forget with my old timers. Hope you and family are well as well as sorting out your enquiry here. I always seem to send dollars here and never out so can't help. Good luck.

Cheers, Steve.


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## Howard_Z (7 mo ago)

Can't you just write a check from a Philippines USD account, and FedEx the check to the USA ?

Walk into your Philippines bank and ask for advice.


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## Lunkan (Aug 28, 2020)

magsasaja said:


> The money was made in the Philippines! If anyone came knocking at our door it would be easy to prove


 Thats not the main to get out money, thats only to proove it isnt money illegal money. So better have paid tax at the incomes 
The money is made by them who BORROWED so CANT use that to be allowed to send out more money than the max (within minimum time limit in between)
BUT IF the loan was USED to start/improve a business, then THAT can be used as argument to get out the money to USA. =My p2 above.
(Thats IF dont have proof at send in. because if have that then can just do as I wrote in p1.)


magsasaja said:


> Banks not knowing the rules or bribing someone is just gibberish.


 So you believe ALL banks know the rules in a country where even many ATTORNEYS dont know laws within their speciality... ? As e g them, who use Dummies to try to get around "The Anti-Dummy law"! 🤣



SierraMadreMe said:


> Funny how the obscenely rich can move billions on a whim, but let the common man try to move over $9k and alarms sound world wide.


 I suppouse many use as my p2 solution (or have contacts geting money through anyway.)


Howard_Z said:


> Can't you just write a check from a Philippines USD account, and FedEx the check to the USA ?


 Need to fullfil the law demands anyway.

((Its an OTHER question if it will be noticed and stoped if documents are missing.))



bigpearl said:


> Here say and failing memories (no back up for statements) mean diddly squat with reality and seems to be attributed to trawling or simply nothing better to do than annoy and question others and questioning facts supplied to simply sit and type.


 Why do you write several such then? 🤣

I have RED the max law/rule myself and if it isnt changed since I did that around 6-8 years ago, then it is as I wrote...


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## bigpearl (Jan 24, 2016)

And what is it? How many US dollars or pesos can you send out of this country through local banks or investment brokers or money changers and remain legal? Did you accomplish such, asked before in another post. Here say doesn't help the OP.

Cheers, Steve.


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## Howard_Z (7 mo ago)

Sending over $10k to the Philippines: Tax laws to know | finder.com


The laws and documentation you'll need if you want to send large amounts of money to the Philippines.




www.finder.com







Mentioned limits which require reporting to Philippines government


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## Howard_Z (7 mo ago)

https://www.pdic.gov.ph/antimoneylaunderingact




Defines "covered transaction" as 4 million pjp


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## Gary D (Oct 28, 2013)

Howard_Z said:


> Sending over $10k to the Philippines: Tax laws to know | finder.com
> 
> 
> The laws and documentation you'll need if you want to send large amounts of money to the Philippines.
> ...


That's into the Philippines, the question is from the Philippines.


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## Howard_Z (7 mo ago)

Gary,
Read more than just the title.

Whether moving money into or out of the country,
A big issue is to avoid the hassle of bank reporting the transaction and trying to prove the history of the money.


This article discusses reporting requirements


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## Gary D (Oct 28, 2013)

Howard_Z said:


> Gary,
> Read more than just the title.
> 
> Whether moving money into or out of the country,
> ...


Ok read it, still only about sending money FROM the USA to the Philippines and reporting to the IRS. I'm a Brit so not a lot of help to me as I don't need to report to the IRS.

You will find the answer is 50,000 php without reporting to the central bank, Over 50,000 php you are required to seek permission from the central bank.


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## Howard_Z (7 mo ago)

Gary,

You did not read carefully

250,000 php must be reported

I'm not sure why I try.
Not even sure the person who started this thread is still reading.


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## Gary D (Oct 28, 2013)

Howard_Z said:


> Gary,
> 
> You did not read carefully
> 
> ...


Yes I know it's hard sometimes, It's about taxing on amounts greater than 250,000 php remitted INTO the Philippines.


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## bigpearl (Jan 24, 2016)

Never paid any tax sending money to PH, the largest amount was PHP 6M 5 odd years ago and required clearance from the broker in Oz, sent many lots of PHP 1 to 1.5M direct deposit from my Aussie bank and never a question asked aside from the OTP. 
The OP asked a simple question which no one can answer diffenatively and seems to me like he needs to ask his relative to get correct answers from the bank.

Howard as for the OP? He is a long time member here and has property and business in PH for countless years but is busy at the moment back stateside. He will respond when he gets time or an intelligent answer to his simple ask.

Cheers, Steve.


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## Gary D (Oct 28, 2013)

bigpearl said:


> Never paid any tax sending money to PH, the largest amount was PHP 6M 5 odd years ago and required clearance from the broker in Oz, sent many lots of PHP 1 to 1.5M direct deposit from my Aussie bank and never a question asked aside from the OTP.
> The OP asked a simple question which no one can answer diffenatively and seems to me like he needs to ask his relative to get correct answers from the bank.
> 
> Howard as for the OP? He is a long time member here and has property and business in PH for countless years but is busy at the moment back stateside. He will respond when he gets time or an intelligent answer to his simple ask.
> ...


I think although can't prove it any remittance into to the Philippines to another person is considered a gift for tax purposes hence the 250k php threshold. If sending to yourself it's a different situation. I remember when I sent 800k for the car I couldn't send it in one lump.


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## bigpearl (Jan 24, 2016)

Could be true Gary but as said the 6M was for a property purchase and lease, declared with the broker in Oz and deposited to a R/E trust account in PH, the agent selling the property.
Sending direct from one of my accounts in Oz to our joint bank account here, never a question asked, only by me if you remember, an old post of mine. 30 to 40K AU every time I did that they would take a 200 peso cut, if I sent 5K AU, no charge, confronted the manager who assured me it was some middle man as not the bank, advised him that if it happens again we will move banks,,,,,, never happened since, no fees. As it should be for a deposit as the 5 buck fee and exchange rates were all done in Australia.

All this chat is not answering the OP's question as it seems all of us simply ship money in, not out.

Only my thoughts.

Cheers, Steve.


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## bigpearl (Jan 24, 2016)

Off topic again I remember after the wash up with the property purchase, attorney and property fees etc. the R/E agent deposited the balance back to my account in OZ no questions asked but it was only around PHP 100K so probably no reporting obligations.

Cheers, Steve.


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## Gary D (Oct 28, 2013)

bigpearl said:


> Off topic again I remember after the wash up with the property purchase, attorney and property fees etc. the R/E agent deposited the balance back to my account in OZ no questions asked but it was only around PHP 100K so probably no reporting obligations.
> 
> Cheers, Steve.


He may have reported it but as it was a legitimate transaction no consequences.


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## magsasaja (Jan 31, 2014)

bigpearl said:


> All this chat is not answering the OP's question as it seems all of us simply ship money in, not out.


Not us! We send money to Australia on a regular basis. Apart from filling in a couple of forms and the repetitive signing it's not difficult as the bank handles everything.

Over the years we looked at different ways to move the money, but the bank was always the easiest.


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## bigpearl (Jan 24, 2016)

My bad mags, wasn't paying attention to your earlier post/s. Similar amounts to the OP's ask? 30K US?
I'm sure but not bothered to do the research but Oz and PH. have many reciprocal arrangements with tax treaties, immigration policies etc. and I'm sure even more so with the US, Said it earlier the sender needs to drop into his bank and sort out the protocols to send funds to the OP. in the US.

Cheers, Steve.


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## Lunkan (Aug 28, 2020)

Howard_Z said:


> Whether moving money into or out of the country,
> A big issue is to avoid the hassle of bank reporting the transaction and* trying to prove the history of the money. *


 The main problem when moving OUT of Phils is *proving the IN history*, if not having such in proof.


Howard_Z said:


> This article discusses reporting requirements


 Which is an OTHER question than whats allowed max (which I wrote about.)


bigpearl said:


> And what is it? How many US dollars or pesos can you send out of this country through local banks or investment brokers or money changers and remain legal? Did you accomplish such, asked before in another post. Here say doesn't help the OP.
> 
> The OP asked a simple question which no one can answer diffenatively and seems to me like he needs to ask his relative to get correct answers from the bank.


 <------- removed unwanted comments ------->
*I have told TWO possible legal solutions* (depending of which situation the person OP asked about have, which isnt answered yet.)

Concerning the max amount. By when I did read the law I never expected to move out any (and if so far in the future so it would need to be checked when its time anyway) so I didnt bother to memorize the max amount, but I noticed the proof demands (so I have kept them) and its much lower i Phils than in our home countries.
Search yourself. Dont you have Google?


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## bigpearl (Jan 24, 2016)

Excuse me? Are you calling me a [email protected]? Some braggarts go on about nothing and have little to no idea with regards to reality, simply posturing.
The OP's question is not answered in simple facts only assumptions and guesses by the likes of some.
As for suggesting that I write idiot/[email protected] replies? Look in your own back yard first Lunkan.

I and I'm sure others are over your suppositions with no credible back up in most of your statements on this and another site to your, "forgot where I heard that." your common line. Here say is for girls to gossip about for the sake of being heard. Tsismis.

Stirs up a hornets nest, is that your aim? As said trawling rings a bell. Some of us actually have a life.

OMO.

Cheers, Steve.


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## Gary D (Oct 28, 2013)

I refer you back to #20, I had googled the answer.


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