New arrival - Money Matters

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New arrival - Money Matters


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Old 10th October 2013, 08:59 AM
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HI Everyone,

I have done a lot of moves in my time but never to SEA. I wonder if you could advise on what financial means I should bring with me to Manila?

Not knowing how long it could take for funds to be transferred from Netherlands to Manila, is it worth bringing travellers checks to open an account with? or is it enough to deposit say $1000 (or should I use PHP?) in cash? assuming I can still access my Dutch bank account via ATM for cash I can easily let the depposit sit while the account opening is processed....Does ti take long to open an account?

My employer is processing my work visa so I will arriveon a tourist visa...can I still open a bank account?

I have read many threads here and TBH I am no nearer understanding how it works over there...

Many thanks

/Mark

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Old 10th October 2013, 10:16 AM
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Hi Mark,

Your best bet for the time being would be to (in just my opinion) bring just enough cash to get you by for 2 or three days but no more. You will probably be able to access your bank account from home using your ATM card. Just to be on the safe side though, make arrangements for someone at home to be able to send cash to you using Xoom or Western Union etc. Your employer here might have ideas for you on that issue also. Just use caution if your employer or anyone else suggests anything that sounds strange or risky.


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Old 10th October 2013, 10:38 AM
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HI Gene,

THanks for the advice....one more question if I may...I live in Holland right now, asusming Euros are not much use should I bring cash in as US$, GB or PHP? I ask only because im not sure how easy PHP is to get!

Best regards

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Old 10th October 2013, 12:53 PM
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Quote:
Originally Posted by Exiledscot View Post
HI Gene,

THanks for the advice....one more question if I may...I live in Holland right now, asusming Euros are not much use should I bring cash in as US$, GB or PHP? I ask only because im not sure how easy PHP is to get!

Best regards
At your departure airport there you should be able to exchange a few Euros for Philippine Pesos. For any other cash you bring I would suggest British Pounds. That seems to be the best value when exchanging into Pesos at the moment. Your hotel here should have the ability to exchange whatever you want into local currency.

A word of caution---this is a 3rd world country so would suggest you carry/bring as little cash as possible or that you can afford to loose to theft.
Carry cash and credit cards in your shoe/socks or even underwear and avoid carrying such in a wallet.


Gene

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Last edited by Asian Spirit; 10th October 2013 at 12:57 PM.
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Old 10th October 2013, 12:58 PM
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Hi Gene,

Sound advice and noted. I read your thread re the 'throw away wallet' I will be having one of those with me when I arrive.

Many thanks

/Mark

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Old 10th October 2013, 01:01 PM
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Hi Gene,

Sound advice and noted. I read your thread re the 'throw away wallet' I will be having one of those with me when I arrive.

Many thanks

/Mark
You're quite welcome Mark. Also, be sure to watch weather before departure there. This is typhoon season and can delay or even cancel flights for days.
Hope you enjoy the islands here. If nothing else, it's a real eye opener-Hahaha...


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Old 10th October 2013, 01:11 PM
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Ha! so I saw..I ve never experienced one before.....not sure whether its something to look forward to or not......

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Old 11th October 2013, 02:15 AM
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Hi Mark,

You will not be able to open any bank account before you've got all the necessary visa and ids. Make sure you will be able to access your home bank account via the ATM while you are in the Philippines. Double check it with your bank before you leave. It took me almost 3 months to get my working visa and the other identifications.

The Philippines is not one of the safest place on earth, so do not carry tons of cash with you. All international credit cards are welcomed in Metro Manila.

Be prepare and enjoy your new venture.
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Old 11th October 2013, 04:42 PM
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I'll attempt to research this further. When I was on vacation last time I tried to open an account but was told I needed this ACR card. So I could get one eventhough a tourist, open an acct, and be on my merry way back to the US?

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Old 11th October 2013, 07:45 PM
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I'll attempt to research this further. When I was on vacation last time I tried to open an account but was told I needed this ACR card. So I could get one eventhough a tourist, open an acct, and be on my merry way back to the US?
I have accounts at currently at three different Philippine banks and have had accounts at three others! All were opened with only my passport! They simply photocopied the visa stamp page (along with info page) in place of the ACR "requirement."

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