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Hi,
Do any expats have any information on opening a bank account in the philippines, i'm going back in january for my 3rd visit and would like to open a peso account with atm card and a usd savings account, i've heard so many different stories and would like some concrete info.
Thanks in advance,

2006-11-12 06:56:49 · 5 answers · asked by divevisayas 2 in Travel Asia Pacific Philippines

5 answers

You do not need an ARC, but you do need 2 valid forms of ID and proof of billing (electric bill, phone bill, etc.) as well as the minimum amount of money required to deposit. I don't think you can get an ATM card on a dollar account, but just leave some money in pesos - the interrest rate is higher and the peso has been much stronger than the USD over the past few years anyway. Two years ago the rate was about 54, now it is 49 to a dollar.

2006-11-12 22:49:02 · answer #1 · answered by Sanmigsean 6 · 1 0

Sanmigsea is correct,however you can have a dollar account but only peso for ATM card, recommend you open a account with The HSBC Bank.( Hong Kong and Shanghai Banking Corporation)

2006-11-13 02:54:45 · answer #2 · answered by Anonymous · 0 0

You need to have an address in the Philippines even if its not permanent. Standard requirements from all banks is to present two valid IDs with picture (most of these valid IDs are issued by Philippine government) company ID is also acceptable. Since you are a foreigner Passport will do and ACR will required. ===== on the first who answered most banks do not accept credit cards as standard identification unless it has picture on it. i opened account from BDO and PSBank, they treat credit cards as supplementary idenfication again unless there is picture on it.

2016-03-28 03:24:27 · answer #3 · answered by ? 4 · 0 0

Hi, if you don't have an ARC (Alien Registration Certificate) they will not allow you to open any bank account in the Philippines.

2006-11-12 07:45:51 · answer #4 · answered by ♥°¯`Mariel´¯°♥ ღ♥ ღ♥ 1 · 0 0

Yes, you better get Alien Registration Certificate before you can do that.

2006-11-12 18:16:00 · answer #5 · answered by Mutya P 7 · 0 0

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