# Bank Account for Long-Term Visitor?



## TokenKano (Apr 20, 2014)

Hi, folks. New member here. I am a 56-year-old male, divorced, no kids. I plan to go to the Philippines for a long-term stay, with no specific plans as yet to marry or otherwise get a resident visa, just extend my tourist visa repeatedly as has been discussed elsewhere in this forum. I visited for the first time last Spring about this time, and spent 2 weeks in Dumaguete.

My question: can someone with this status get a dollar account at BPI or other bank there with minimum issues? If so, what are the requirements to open one? Getting money from here to there is a task that must be addressed. My thought was to open an account and simply write checks on my US account a month ahead to cover living expenses. I am sure this has been discussed, but I have not seen it mentioned specifically. Thoughts?


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## Asian Spirit (Mar 1, 2010)

Welcome to the forum,

A number of years ago it was possible to just open an account at any bank. Not any longer though. You must have a resident Alien Certificate Registration (ACR) card to open any type of bank account in the Philippines.

Travelers Checks are useless here so no point in bringing them. Your best option is to have and use an ATM card from your local bank while here. You'll have to pay whatever your bank charges on a service charge but is the best way I know.

Be very sure to notify your bank there of your intentions as otherwise they are likely to void your card the first time you attempt to use it here.

You will not be able to use an ATM owned by Metrobank as their machines require a 6 digit PIN code.

As you probably noticed on your first trip here is that major shopping malls all have ATM's and are going to be your safest place to use them.



Good Luck..


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## TokenKano (Apr 20, 2014)

Thanks for the information. Actually, a debit card from my bank was my first thought, and I applied for one with that very intention. The good news is, I got the card. Bad news is, Visa sponsors the card, and certain at-risk countries are on their list of places where the card is non-functional, and the Philippines happens to be one. Thus it becomes necessary to implement a Plan B, financially speaking. I may have to change banks to find one to accomodate my Southeast Asia travel plans.

A debit card may be a different animal from an ATM card, I can perhaps inquire further at my bank.


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## Asian Spirit (Mar 1, 2010)

TokenKano said:


> Thanks for the information. Actually, a debit card from my bank was my first thought, and I applied for one with that very intention. The good news is, I got the card. Bad news is, Visa sponsors the card, and certain at-risk countries are on their list of places where the card is non-functional, and the Philippines happens to be one. Thus it becomes necessary to implement a Plan B, financially speaking. I may have to change banks to find one to accomodate my Southeast Asia travel plans.
> 
> A debit card may be a different animal from an ATM card, I can perhaps inquire further at my bank.


Yea, The Philippines is a high risk country in many ways for many reason. As you say, visiting with your bank there may provide solutions. Another way of getting cash here safely would be to have a trusted family member etc there in the US send cash to you as needed via Western Union or Xoom. Takes just 15 minutes or so to be able to pick up the (in pesos) money here.


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## jon1 (Mar 18, 2012)

You could file for an ACR after only a couple of weeks. One week after you get here, apply for your 59 day extension. Then go back to the Immigration the following week and apply for your 2 month extension. At that time you will be required to apply for the Tourist ACR. I do not know how long it takes to receive one. It could be a couple of months. This won't help you immediately but a couple of months down the road it will pay off.

In the interim, I would plan on bringing at least one month's reserve cash and a credit card that is usable in the Philippines. I use my Navy Federal Visa all of the time without issue. I have not tried to use it as an ATM card as I have been out of the business of using plastic for cash. 6 years ago I was using my ATM/Debit Card (MasterCard) without issue. I was using Fifth Third Bank. I had notified them in advance on my location. The down side was all of the fees incurred (International Transaction, Conversion Fee and local bank fee). Also, some banks like BPI limit ATM transactions to 10,000p. 

When you do open an account, typically they will want $500 cash for a maintenance balance, Copy of your ACR and Passport Biopage. Also, once you write a check for deposit, it does take 3-4 weeks before the funds are available (depends on the bank, BPI holds for 28 days).

Keep your account balance below $10,000 to avoid having to file the FBAR form with the IRS.

Like Jet Lag suggested, wiring money via Zoom or Western Union might be your only option. Maybe open an account with Western Union that you can move funds from your stateside bank to??


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## TokenKano (Apr 20, 2014)

jon1 said:


> You could file for an ACR after only a couple of weeks. One week after you get here, apply for your 59 day extension. Then go back to the Immigration the following week and apply for your 2 month extension. At that time you will be required to apply for the Tourist ACR. I do not know how long it takes to receive one. It could be a couple of months. This won't help you immediately but a couple of months down the road it will pay off.
> 
> In the interim, I would plan on bringing at least one month's reserve cash and a credit card that is usable in the Philippines. I use my Navy Federal Visa all of the time without issue. I have not tried to use it as an ATM card as I have been out of the business of using plastic for cash. 6 years ago I was using my ATM/Debit Card (MasterCard) without issue. I was using Fifth Third Bank. I had notified them in advance on my location. The down side was all of the fees incurred (International Transaction, Conversion Fee and local bank fee). Also, some banks like BPI limit ATM transactions to 10,000p.
> 
> ...


Thanks so much, this sounds like a plan. Do you know the approximate cost in fees, documents, etc, for the Tourist ACR, and how long it is good for?


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## jon1 (Mar 18, 2012)

DonAndAbbey broke this out pretty well http://www.expatforum.com/expats/philippines-expat-forum/336682-tourist-visa-costs.html

The Tourist ACR is renewable every year.


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## Asian Spirit (Mar 1, 2010)

jon1 said:


> You could file for an ACR after only a couple of weeks. One week after you get here, apply for your 59 day extension. Then go back to the Immigration the following week and apply for your 2 month extension. At that time you will be required to apply for the Tourist ACR. I do not know how long it takes to receive one. It could be a couple of months. This won't help you immediately but a couple of months down the road it will pay off.
> 
> In the interim, I would plan on bringing at least one month's reserve cash and a credit card that is usable in the Philippines. I use my Navy Federal Visa all of the time without issue. I have not tried to use it as an ATM card as I have been out of the business of using plastic for cash. 6 years ago I was using my ATM/Debit Card (MasterCard) without issue. I was using Fifth Third Bank. I had notified them in advance on my location. The down side was all of the fees incurred (International Transaction, Conversion Fee and local bank fee). Also, some banks like BPI limit ATM transactions to 10,000p.
> 
> ...


Good advise all the way around Jon. Gets difficult to keep up on the latest as we never leave the country anymore. We use a Metrobank ATM debit (Mastercard) in many places from the malls and restaurants to grocery stores without any problems and without a service charge. Maximum usage or withdrawal in cash is P30,000 per day. Fits our needs and have never had an issue..


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## TokenKano (Apr 20, 2014)

Nice breakdown on the costs, and not too bad. Any special documents necessary, birth certificate, police report or other paperwork I need to locate for this?


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## jon1 (Mar 18, 2012)

You will have to fill out an extension form and bring a 2x2 photo (white background, passport type) for each extension. These photos can be acquired at any mall or fast ID place rather cheaply. If I remember correctly, 1x1 photos are needed for the ACR application. I would ask the Immigration people when applying for your first extension.

After I get my extension, I always ask for a blank form from them. That way I have a prefilled out form when I get there and it saves me about 5 minutes. Quickest I have been through is 10 minutes, longest 20 minutes at the Olongapo BI. Also, don't come in looking like a beach bum or you will be turned away. Dress like you would going to the Embassy.


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## cvgtpc1 (Jul 28, 2012)

You could setup your US acct with RemitHome and send money to yourself online for $10 flat fee a transaction. Many pickup points around the PI.


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## TokenKano (Apr 20, 2014)

Thanks for all the help, I really appreciate it.


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## HondaGuy (Aug 6, 2012)

Another option you might want to think about is opening an HSBC online savings account in the US and get an HSBC ATM card. HSBC has ATMs in the Philippines (not a lot, but a few). The HSBC ATM I use in Manila lets me pull p40k per day from my HSBC USA account. If youre going to be staying in Manila, you could do this every few days. If youre going to be traveling around the PI, spend 2-3 days in Manila building up a stash of cash then head out for your travels. Just hide the cash well!

There are also a few Citibank ATMs in Manila that you may be able to do the same thing with, but I dont personally have any experience using them. HSBC Ive used many many times to pull pesos from my US account.


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## DonAndAbby (Jan 7, 2013)

jon1 said:


> You will have to fill out an extension form and bring a 2x2 photo (white background, passport type) for each extension. These photos can be acquired at any mall or fast ID place rather cheaply. If I remember correctly, 1x1 photos are needed for the ACR application. I would ask the Immigration people when applying for your first extension.
> 
> After I get my extension, I always ask for a blank form from them. That way I have a prefilled out form when I get there and it saves me about 5 minutes. Quickest I have been through is 10 minutes, longest 20 minutes at the Olongapo BI. Also, don't come in looking like a beach bum or you will be turned away. Dress like you would going to the Embassy.


For the banking / money transfer, I follow the same check writing method like Jon does, and we happen to bank at the same BPI here.

For the first few months here, I used my Visa debit card here to get some cash, without issue. I don't know if the country status at Visa may have changed since then (early 2013). There has been a lot of skiimming scams at ATMs here (I have heard) so maybe they did change it. Maybe I should try it again just to make sure it is a valid emergency option for me.

Two US "banks" I know of will refund any and all ATM fees incurred. My banking debit card from Fidelity Investments does, and USAA does as well. I think a lot of investment banks are doing it these days.

Another option for me before I made the actual move was to transfer some cash to Abby, but we were already together a long time and she had spent time in the US with me. That option would only be advisable if you have someone you completely trust.

When I got my ACR in late 2012 you did not have to have a picture for it. They snatched the pic from my passport.

You can also download the latest forms on the immigration website. Just google Philippines BI and it will come up.


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## M.C.A. (Feb 24, 2013)

*Debit vs Credit card*



TokenKano said:


> Thanks for the information. Actually, a debit card from my bank was my first thought, and I applied for one with that very intention. The good news is, I got the card. Bad news is, Visa sponsors the card, and certain at-risk countries are on their list of places where the card is non-functional, and the Philippines happens to be one. Thus it becomes necessary to implement a Plan B, financially speaking. I may have to change banks to find one to accomodate my Southeast Asia travel plans.
> 
> A debit card may be a different animal from an ATM card, I can perhaps inquire further at my bank.


My experience using debits cards is that they don't work here at the grocery or trying to withdrawal money but it could be just my banking institution in the US its the NFCU.


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## overmyer (Aug 15, 2013)

mcalleyboy said:


> My experience using debits cards is that they don't work here at the grocery or trying to withdrawal money but it could be just my banking institution in the US its the NFCU.


That's interesting, as my JP Morgan Chase account (in the US) has a VISA debit card which I use regularly here with out any problems. I simply advised them that I have a residence here and would be using it here!
I don't expect the debit card function to work so I just have them process as a Visa Credit Card.
I also have no problems using it to access ATMs. The same holds true for my US based accts linked with debit mastercards.


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## M.C.A. (Feb 24, 2013)

*Navy Federal Credit Union*



overmyer said:


> That's interesting, as my JP Morgan Chase account (in the US) has a VISA debit card which I use regularly here with out any problems. I simply advised them that I have a residence here and would be using it here!
> I don't expect the debit card function to work so I just have them process as a Visa Credit Card.
> I also have no problems using it to access ATMs. The same holds true for my US based accts linked with debit mastercards.


I originally joined the NFCU back in 1983 Subic bay but the debit cards will not work for withdrawal from the ATM's only my NFCU Credit card will work for with drawing cash and purchases, I haven't even tried my debit cards at stores because several times I have been asked by the cashier if my card is a Visa card they wouldn't take the debit cards from the US but it sounds like the JP Morgan Chase bank is working fine.

I worked in a call center stateside for 7 years and didn't make a difference what kind of card it was, it could be processed, most of the cards were Visa or MasterCard, even though the customer notified me it was a debit card it still rang up as either a Master or Visa card.


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## Gary D (Oct 28, 2013)

mcalleyboy said:


> I originally joined the NFCU back in 1983 Subic bay but the debit cards will not work for withdrawal from the ATM's only my NFCU Credit card will work for with drawing cash and purchases, I haven't even tried my debit cards at stores because several times I have been asked by the cashier if my card is a Visa card they wouldn't take the debit cards from the US but it sounds like the JP Morgan Chase bank is working fine.
> 
> I worked in a call center stateside for 7 years and didn't make a difference what kind of card it was, it could be processed, most of the cards were Visa or MasterCard, even though the customer notified me it was a debit card it still rang up as either a Master or Visa card.


My HSBC Debit card is affiliated with Visa so I've not had any problems. Maestro affiliated card also occassionally work.


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