Originally Posted by HondaGuy
I sold some property in the Philippines 2 years ago and had the pesos deposited into my BDO account. When I tried to have those funds wired to my US bank, the rep at my BDO branch (the same rep I've dealt with for years and who knows me well) said that BDO will not wire pesos out of the country and they wouldn't convert my pesos to dollars as they don't "sell dollars". They wanted me to withdraw the pesos, go to a money changer to convert them to US Dollars, then deposit those dollars back into my BDO Dollar account, which they could then wire to my bank in the US. I didn't want to get knifed on my way to/from the money changer so I declined to do that.
I talked to a buddy of mine who is friends with a branch manager at a different bank (BPI I think) and they confirmed that it is VERY difficult to wire pesos out of the country.
I ended up making a deal with another buddy of mine who needed to convert USD to PHP to take my pesos and he deposited USD into my USAA account.
If anyone has done this successfully, please let the rest of us know!
Isn't that something, we live in a country where money changers are main stream. My bank PNB doesn't carry to many dollars either, I have to let them know I need some or they sell it.