Transfer money from USA to philippines

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  • 1 Post By Fin7ao
  • 1 Post By bigpearl

Transfer money from USA to philippines


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Old 4th July 2018, 11:49 PM
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Default Transfer money from USA to philippines

If I’m transferring over 10,000$ usd to usd to the philippines purpose ( house building ) to a bank account that’s not mine - do I need to file fbar form 114 ?

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Old 4th July 2018, 11:54 PM
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Originally Posted by Fin7ao View Post
If Iím transferring over 10,000$ usd to usd to the philippines purpose ( house building ) to a bank account thatís not mine - do I need to file fbar form 114 ?
Easiest way to know for sure is to call Philippine National Bank in Los Angeles OR you can call Metrobank In New York City.
Either place will have the accurate info.

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Old 5th July 2018, 12:11 AM
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Thanks I’ll give Metro a call since that the bank I send my transfer too
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Old 5th July 2018, 02:05 AM
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Only a suggestion but why not transfer in two, three, four amounts over a week or two if you are concerned? I transferred Au 150K in one lump sum through a broker to buy a property and all they asked is what the money was for to satisfy our government, buy a house, buy a car, house reno's whatever, no problems, documented. Simply transferred the cash online to my broker and they paid it to the nominated bank account.
Nary a problem.

Cheers, Steve.
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Old 5th July 2018, 10:51 AM
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Originally Posted by Fin7ao View Post
If Iím transferring over 10,000$ usd to usd to the philippines purpose ( house building ) to a bank account thatís not mine - do I need to file fbar form 114 ?
Not sure about transferring from USA but from UAE, there is no limit. The only condition is that whoever you use to transfer the funds has to provide a KYC (Know Your Customer) to the receiving bank.

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