# Large payments



## Manitoba (Jun 25, 2014)

How do people transfer larger sums of money here for large purchases like long term rentals or car purchase?

When I opened my bank account I was offered cheques but also told that no one here accepts them. Can I get certified cheques from the bank or do people pay cash for things like cars etc here?


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## expatuk2016 (Mar 20, 2016)

Just a couple of examples we pay our car monthly by bank debit
We pay for our samsung tablet and more recently for our new aircon by the wifes credit card.
Cash is king here and a credit card is the queen


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## fmartin_gila (May 15, 2011)

expatuk2016 said:


> Cash is king here and a credit card is the queen


That seems to be the way it is. Nobody trusts anybody. I have paid Cash On Delivery every transaction I have ever made here, with the exception of 1 hospital bill which I paid by Credit Card from my bank in the states.

Fred


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## Hey_Joe (Sep 13, 2016)

My last large transaction was for a 2nd hand SUV from stranger in Manila. I first got a copy of his Drivers License, OR/CR and took that to the police to ensure the vehicle was not stolen and it belonged to him.

I made an agreement with him that we first do the transfer with a note that it was null and void if payment was not received. We went into my bank, he gave the papers to a neutral bank employee who was not to hand me the papers until I transferred the payment into his bank. She then gave me the papers. No Problems


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## esv1226 (Mar 13, 2014)

the salesman came with us to the bank. we withdrew and gave him the cash. we then had the car insured. he would not let us drive before insurance was in effect. when we sold our car, i asked the buyer to come to the bank so that cash could be deposited. never a good idea to keep that much cash as word can spread around. theses transactions were in pesos.

we had issued checks from our US bank to a local company. they accept and have US dollar accounts. they were happy to be paid in check.


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## Manitoba (Jun 25, 2014)

expatuk2016 said:


> ....
> Cash is king here and a credit card is the queen


I am not talking about purchases of 20k or so but I am thinking about buying a new Toyota truck, around 1.5 to 1.7 million.

I doubt that that would go on a credit card transaction nor am I willing to carry that much cash around with me. ( And count it several times.) 

Can you make transactions of that amount on a debit card here?


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## esv1226 (Mar 13, 2014)

Manitoba said:


> I am not talking about purchases of 20k or so but I am thinking about buying a new Toyota truck, around 1.5 to 1.7 million.
> 
> I doubt that that would go on a credit card transaction nor am I willing to carry that much cash around with me. ( And count it several times.)
> 
> Can you make transactions of that amount on a debit card here?


from our experience, car dealers would not transact in foreign currency. we deposited our check to our local bank. we were able to purchase a car only when the check cleared. the car dealer would be happy to go with you to get payment. he can choose to get cash or get bank to issue a manager's check.


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## Manitoba (Jun 25, 2014)

esv1226 said:


> from our experience, car dealers would not transact in foreign currency. we deposited our check to our local bank. we were able to purchase a car only when the check cleared. the car dealer would be happy to go with you to get payment. he can choose to get cash or get bank to issue a manager's check.


I am not talking about a foreign currency or a foreign cheque. I doubt if any business owner anywhere would accept that sort of payment, at least for a large purchase or outside of a tourist or border area.

Assume I have the peso's in a local bank, all cleared on the transfer in and unencumbered. Assume I want to but a new vehicle for 1.5 million.

What are the options for the money to go from my account to the dealer's account and the vehicle title to transfer to my name?

I did once but a surplus vehicle here, it was just over 200k and I paid cash. The dealer employee entrusted with the money absconded with the cash and the dealer's manage actually tried to reposes the vehicle because "my" money was stolen. Luckily the actual owner of the company was a Brit and he agreed that the bill of sale actually actually said that I had paid and that I was the owner of the vehicle meant that I had paid and was the owner of the vehicle.


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## bidrod (Mar 31, 2015)

I would probably ask the dealership how they want to handle the payment. Excluding bringing cash to the dealership. Will they accept check from your account, bank draft, transfer of funds from your account to their's, etc? The dealership can answer your question. I purchased a new vehicle in 2016 financed through my local bank, the dealer got his money and I got the car. Guarantee you my bank did not hand carry php 1M+ to the dealership.

Chuck


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## pagbati (Apr 9, 2014)

*Electonic Bank Transfer*



Manitoba said:


> How do people transfer larger sums of money here for large purchases like long term rentals or car purchase? When I opened my bank account I was offered cheques but also told that no one here accepts them. Can I get certified cheques from the bank or do people pay cash for things like cars etc here?


Manitoba, The most efficient way to transfer money for the purposes you mention is by electronic bank transfer. In the case of purchasing a vehicle from the dealer, you would ask the sales rep to put you in touch with the accounts department and obtain their bank details (it’s best, but not necessary, to do this via the sales rep as they will know you are a bona fida customer). Setting up the arrangement with your Ph bank is a 2-step affair, enrolment and activation. Enrolment can be done online or at your bank branch. As soon as you have enrolled the dealer's bank details, you then activate the enrolment either at the branch or at an ATM; different banks have different procedures. All of this can usually be achieved within 24hrs. As soon as you activate the account, you are in a position to make your first online transfer, although some banks will make you wait an additional 24hrs from the time of activation to making your first transfer. Again, for security reasons, banks have different policies pertaining to the maximum amounts that one can send in one transfer, or transfer in one day. It could take 3 transfers to send the amount you are talking about. By this stage you are only clicking a few buttons on your computer so it's no problem. If you are new to this, you would transfer a small amount such as Php200 to the dealer as a trial run and call the accounts dept to see if they received it before making the larger transfer/s. Transfers between the same bank are instantaneous so they will be able to see the incoming transfer of funds immediately. The majority of this administration can be done from the comfort of your armchair so it really isn’t much hassle, especially if you're familiar with online banking.

Incidentally, this arrangement also works well for smaller, regular purchases. We use it pay for coffee beans, baking goods, spices etc being sent from Manila or Cebu; being able to electronic transfer funds direct to the supplier makes life very easy. Bearing in mind the old adage of _'Look after the pennies and the pounds will look after themselves',_ always ask the company whom you want to transfer the funds to if they have more than one bank account, as transfers are free when transferring between the same banks. If you need any further info and would prefer to discuss it via PM, feel free to do so.


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## DonAndAbby (Jan 7, 2013)

Manitoba said:


> I am not talking about a foreign currency or a foreign cheque. I doubt if any business owner anywhere would accept that sort of payment, at least for a large purchase or outside of a tourist or border area.
> 
> Assume I have the peso's in a local bank, all cleared on the transfer in and unencumbered. Assume I want to but a new vehicle for 1.5 million.
> 
> ...


The major banks here can issue you what they call a "manager's" check made out to the car dealer in the exact amount due. There is a small charge. It is a similar to what we call a cashier's check in the USA. Car dealers probably do many transactions like this and should be familiar with it.

This gives you control of the funds until the very last minute in the transaction, when they hand you the keys.


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## esv1226 (Mar 13, 2014)

Manitoba said:


> I am not talking about a foreign currency or a foreign cheque. I doubt if any business owner anywhere would accept that sort of payment, at least for a large purchase or outside of a tourist or border area.
> 
> Assume I have the peso's in a local bank, all cleared on the transfer in and unencumbered. Assume I want to but a new vehicle for 1.5 million.
> 
> ...


Sorry to hear about your bad experience. I too would be extra careful 2nd time around. I would talk to my bank and let them handle the transaction for me - I'm sure they'll be helpful, maybe get a little discount again?


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## Manitoba (Jun 25, 2014)

esv1226 said:


> Sorry to hear about your bad experience. I too would be extra careful 2nd time around. I would talk to my bank and let them handle the transaction for me - I'm sure they'll be helpful, maybe get a little discount again?


At the time I did not have a local bank account so that was not an option. I had to make 20k withdrawals on each of my Canadian accounts over a period of a few days to get that amount of cash gathered.


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## bigpearl (Jan 24, 2016)

pagbati said:


> Manitoba, The most efficient way to transfer money for the purposes you mention is by electronic bank transfer. In the case of purchasing a vehicle from the dealer, you would ask the sales rep to put you in touch with the accounts department and obtain their bank details (it’s best, but not necessary, to do this via the sales rep as they will know you are a bona fida customer). Setting up the arrangement with your Ph bank is a 2-step affair, enrolment and activation. Enrolment can be done online or at your bank branch. As soon as you have enrolled the dealer's bank details, you then activate the enrolment either at the branch or at an ATM; different banks have different procedures. All of this can usually be achieved within 24hrs. As soon as you activate the account, you are in a position to make your first online transfer, although some banks will make you wait an additional 24hrs from the time of activation to making your first transfer. Again, for security reasons, banks have different policies pertaining to the maximum amounts that one can send in one transfer, or transfer in one day. It could take 3 transfers to send the amount you are talking about. By this stage you are only clicking a few buttons on your computer so it's no problem. If you are new to this, you would transfer a small amount such as Php200 to the dealer as a trial run and call the accounts dept to see if they received it before making the larger transfer/s. Transfers between the same bank are instantaneous so they will be able to see the incoming transfer of funds immediately. The majority of this administration can be done from the comfort of your armchair so it really isn’t much hassle, especially if you're familiar with online banking.
> 
> Incidentally, this arrangement also works well for smaller, regular purchases. We use it pay for coffee beans, baking goods, spices etc being sent from Manila or Cebu; being able to electronic transfer funds direct to the supplier makes life very easy. Bearing in mind the old adage of _'Look after the pennies and the pounds will look after themselves',_ always ask the company whom you want to transfer the funds to if they have more than one bank account, as transfers are free when transferring between the same banks. If you need any further info and would prefer to discuss it via PM, feel free to do so.


Yep, totally agree, I have been using internet and telephone banking in Oz for over 10 years, "best thing since sliced bread came about" and some 5 or 6 years in Ph. and nary a problem. Larger sums like when we purchased our house was done via internet banking in Oz through our broker (to get the best deal and then to the agent selling the property).
5 years ago we transferred PHP 350K for a 12 month lease directly to the owners account from my bank and she had the money in less than 48 hours. We hire cars over the years with direct deposits and as said it is money in the bank. 
Baby boomer in the digital age? Perhaps, but at the end of the day if the seller wants the money the buyer dictates the terms of payment,,,,,,,, unless there are mitigating circumstances and they as always are negotiable.

We have cash in Ph. banks and also transfer funds and receive via internet banking and to date no questions asked. It's just a pity that our bank in Ph. can't get their "corporate gollies" together and be like a normal bank when it comes to face to face things. Internet banking for us is the only way to go.

Cheers, Steve.


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## hogrider (May 25, 2010)

When I purchased my Ford Ranger Wildtrak from the Ford dealer in Manila, I made the initial deposit via an online transfer from my account in Dubai to the dealers account in Manila. Subsequently I transferred the balance approx P1.7m to my Davao account. When I arrived in Manila I went to the closest branch of my bank and requested a managers cheque for the balance P1.7m. This took about 20 minutes. I then took the managers cheque to the Ford dealer and picked up the car a couple of days later. I then drove the truck from Manila to Davao. All very easy and straightforward.


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## Manitoba (Jun 25, 2014)

hogrider said:


> ... I then drove the truck from Manila to Davao. All very easy and straightforward.


I'll bet there are some good stories on the drive from Manila to Davao lol


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## hogrider (May 25, 2010)

Manitoba said:


> I'll bet there are some good stories on the drive from Manila to Davao lol


Yes indeed, it was quite an adventure and I think I've seen more of the Philippines than most Filipinos, lol.


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## Asian Spirit (Mar 1, 2010)

hogrider said:


> Yes indeed, it was quite an adventure and I think I've seen more of the Philippines than most Filipinos, lol.


If you took any photos along the way it would be great to see them here or in your profile. Also any interesting happenings along the way would make for interesting here in a new thread if you have the time and ambition. Not too many travel long distance by land and the stories would be fassinating. Hint--Hint


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## JShannon (Jan 28, 2014)

First Q is why don't you have a bank account here? I have heard stories of problems people have had getting one here but in the provinces there isn't a problem, maybe different in the big cities. Only had a visitor visa, first time I was only here for a month before doing it , second was a couple of months. No questions asked.

Car, land transactions that have been mentioned all via "Manager checks", 50 PHP service charge. No fuss, no muss. Good way to go.

Cheers


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## Manitoba (Jun 25, 2014)

JShannon said:


> First Q is why don't you have a bank account here? .....


I have an account here. Opened while still on my tourist visa in Manila no issues.


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## hogrider (May 25, 2010)

Asian Spirit said:


> If you took any photos along the way it would be great to see them here or in your profile. Also any interesting happenings along the way would make for interesting here in a new thread if you have the time and ambition. Not too many travel long distance by land and the stories would be fassinating. Hint--Hint


Sorry I missed this reply in the thread. I will dig out some photos. One memorable occasion......We always planned to reach our stopover for the night before nightfall. Didn't always work out that way though. One occasion, we decided to take an evening crossing on the Matnog Isidro ferry. Arrived about 9pm and the road out of the terminal was in a bad way, plus torrential rain made visibility bad. Finding somewhere to stay that night was clearly going to be a challenge. Ended up in a place called Bodega Billiards Bar & Disco. They had rooms for the night, but the disco was so loud there was no point trying to sleep, and it just so happened to be my birthday, so we ended up singing Karaoke with the manager and a bunch of his mates, washed down with copious amounts of Red Horse, till the early hours. On the road again by 6am, so not much sleep that night. Was a birthday to remember though


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## Asian Spirit (Mar 1, 2010)

hogrider said:


> Sorry I missed this reply in the thread. I will dig out some photos. One memorable occasion......We always planned to reach our stopover for the night before nightfall. Didn't always work out that way though. One occasion, we decided to take an evening crossing on the Matnog Isidro ferry. Arrived about 9pm and the road out of the terminal was in a bad way, plus torrential rain made visibility bad. Finding somewhere to stay that night was clearly going to be a challenge. Ended up in a place called Bodega Billiards Bar & Disco. They had rooms for the night, but the disco was so loud there was no point trying to sleep, and it just so happened to be my birthday, so we ended up singing Karaoke with the manager and a bunch of his mates, washed down with copious amounts of Red Horse, till the early hours. On the road again by 6am, so not much sleep that night. Was a birthday to remember though


From just that bit it sounds like you had quite a trip. Hopefully someday in the future the roads and highways in country will be better and make travel easier-to say nothing of having hotels in different areas.
Looking forward to the photos. Sure wish someone would come along and write a good travel book on the Philippines..


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## fmartin_gila (May 15, 2011)

Asian Spirit said:


> Sure wish someone would come along and write a good travel book on the Philippines..


Just kinda to go with this comment - things need to be updated here in the worst way. This little trip I took this week to the other side of Panay Island. The Map I bought from National Book Store about 8 or 9 years ago does not show the road across the mountainous area and my Asawa tells me that that road was built at least 20 years or more ago. The map also shows the Iloilo Airport at the present location of MegaWorld which was built on the old runway, the functioning Iloilo Airport is about 20 Kilometers away and has been functioning for at least 10 years there. The only way to get anywhere close to recent maps is to use google maps which is what I do in order to get current info.

Fred


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## Manitoba (Jun 25, 2014)

hogrider said:


> ......so we ended up singing Karaoke with the manager and a bunch of his mates, washed down with copious amounts of Red Horse, till the early hours. On the road again by 6am, so not much sleep that night. Was a birthday to remember though


If you remember it then you doidn't have enough Red Horse lol


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