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Old 20th March 2018, 12:20 AM
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Default BDO Bank

Had a laugh yesterday but with no success not that we really expected any.
We have 2 accounts in SM Manila with BDO, set up when we lived there years ago, took some doing even though I had an ACR1, a 12 month lease, 4th BDO bank finally success.

Now we have a property in La Union we thought we would transfer the accounts to one of the local branches, simple in Australia and not really necessary but unfortunately not here as apparently they are franchised and have their own rules........ no sir you will have to open new accounts and close the Manila accounts. That's fine we said, sir do you have your ACR1 card? Why do I need that as we already have accounts set up. I don't have one anymore I said, sorry sir we can't open an account for you, (little white lie here) I said to the two ladies helping us that I don't need an ACR1 as I hold an SRRV,,,,, perplexed looks, explained what it was and they had never heard of it, they went to the manager who had also never heard of that type of visa. Sorry Sir we need an ACR1 card or we cannot open any accounts. We thanked them and left.

Was an interesting exercise and we'll have to deal with it when we finally move here so for now just keep the accounts in Manila.

Cheers, Steve.

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Old 20th March 2018, 12:56 AM
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If you had an ACR card, but no lease, would they have opened a bank for you?

Asking for a friend who has recently arrived. I'm not sure how long he is staying for but he was asking if it's possible for him to set up a bank. I told him no.... but if he has an ACR card are there any banks that might let him open an account?

Thanks.

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Old 20th March 2018, 01:10 AM
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....Sorry Sir we need an ACR1 card or we cannot open any accounts. We thanked them and left.

....
Your SRRV card says that you are ACR exempt. Show them that.
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Old 20th March 2018, 01:17 AM
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Originally Posted by Simon1983 View Post
If you had an ACR card, but no lease, would they have opened a bank for you?

Asking for a friend who has recently arrived. I'm not sure how long he is staying for but he was asking if it's possible for him to set up a bank. I told him no.... but if he has an ACR card are there any banks that might let him open an account?

Thanks.
Simon my only experience is with BDO, other banks may be different. As said earlier when we lived in Manila we went to 3 BDO branches and were refused even with a 12 month lease an ACR1 card, elec and water bills correct ID etc. The fourth bank said no also but we asked to speak with the manager if available, 20 minutes of talking and explaining our situation and why we needed to have accounts opened we were successful but asked to never transfer/deposit more than 9,999 dollars.
The BDO branch up here in San Fernando City only seemed interested in the ACR1, if we had that then it's anybodies guess what they would ask for next as experienced by us in Manila.

Every bodies experiences are different as are bank policies here, others will hopefully give you some good news. Good luck.

Cheers, Steve.
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Old 20th March 2018, 01:28 AM
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Your SRRV card says that you are ACR exempt. Show them that.
As said in my original post I told a little white lie about holding an SRRV to see if that helped/worked and they had no idea what that visa was. I didn't bother to suggest they look at the PRA site as it's been down for weeks that I know of.

I will go the SRRV route when we move here as we want to ship furniture and I/we will be in and out of the country often.

Thanks for the heads up on the SRRV card.

Cheers, Steve.
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Old 20th March 2018, 02:04 AM
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Steve, If you have some time to mess around on this trip, try several different banks in your area. Even some of the same banks but in different locations and you may have some luck.
They want us to have and spend our money here but yet they make it very hard to do so. That is grossly magnified when most banks and other businesses don't have a clue of what they are doing.

Also, if Australia is like the US, there are only certain banks that qualify to use for Social Security. So you might want to contact your embassy in Manila to find out before you end up opening a SS account at an non-approved bank.
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Old 20th March 2018, 02:37 AM
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I had no problem opening an account at HSBC main branch in Makati while on my tourist visa. Only restrictions were I cannot electronically transfer USD to PHP I need to go to the branch or use telephone banking but I will also get a better rate than on line. Other restriction is I cannot transfer PHP to USD.

I could get both restrictions lifted once I show then my SRRV but no need since I can be at the branch easily and will not need to transfer PHP back to USD.

I wonder if your branch is lumping all foreigners in withe Americans and their banking restrictions and additional paperwork.

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Old 20th March 2018, 02:51 AM
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I had no problem opening an account at HSBC main branch in Makati while on my tourist visa. Only restrictions were I cannot electronically transfer USD to PHP I need to go to the branch or use telephone banking but I will also get a better rate than on line. Other restriction is I cannot transfer PHP to USD.

I could get both restrictions lifted once I show then my SRRV but no need since I can be at the branch easily and will not need to transfer PHP back to USD.

I wonder if your branch is lumping all foreigners in withe Americans and their banking restrictions and additional paperwork.
Were you banking with HSBC in Canada? It is probably easier if you have an existing account in your home country.

Before i first came over I set up a BPI Europe account and this made setting up a bank account in Philippines much easier. That was about 4 years ago so they may have become stricter since then.
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Old 20th March 2018, 02:58 AM
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Were you banking with HSBC in Canada? It is probably easier if you have an existing account in your home country.
...
Yes, I picked HSBC because of their global presence. I have a USD savings account in Canada and electronically transfer funds to my Philippine bank. It is very easy and seamless.

Biggest issue is I can only see account totals in Ph when on Canada web site and the reverse is also true. To see account details I need to be on that country web site.
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Old 20th March 2018, 05:45 AM
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Quote:
Originally Posted by Simon1983 View Post
If you had an ACR card, but no lease, would they have opened a bank for you?

Asking for a friend who has recently arrived. I'm not sure how long he is staying for but he was asking if it's possible for him to set up a bank. I told him no.... but if he has an ACR card are there any banks that might let him open an account?

Thanks.
Hi Simon
I opened an account at PSBank in Davao, whilst on a tourist visa. They are requesting that I show them my ACR once I have it, but I haven't done so yet and no issues with them till now.
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