I am in Manila & want to open a savings account, but PNB & BDO say no. I'm here on a tourist visa?

Question

I am in Manila on an extended stay with a tourist VISA, I want to open a savings account here, but the branches of Banko d e oro and PNB said "no can do" Does anyone know of a bank I can open an account in here in Manila????

Answer 1

The only way you can open is if you have proof of local residence. My sister who is an Australian citizen was able to open an account when she bought a condo unit. She used that as her address in the Philippines, and somehow she was allowed by the bank (Security Bank).

Answer 2

I know other foreigners that belong to an expatriate club I belong to that have been denied Savings Accounts, Checking Accounts, etc. Other of us have been given them all on a Tourist Visa. I have been here five years and just keep renewing my Tourist Visa and I have two checking accounts and two savings accounts at PNB. One Savings is in pesos and one in dollars. I believe there is some government ruling about Tourist not having these accounts and I do not know why banks allow some and deny others.

Answer 3

it is a requirement that bank staffs review your presented document. why do
you want to open an account in the first place when you are not here permanently? besides how many times do you plan to visit phils? the only way you can do is open an account with a close relative based in Manila and go to the bank together and open the "and" account and it means you entrust your funds with her however, she can't withdraw without you co-signing.
try those international bank like citibank or hsbc but they require higher money placed in their bank. if i am not mistaken it is in the tune of 100,000 pesos
Mind you, if your account is inactive for more than 5 years and/or if it falls below the bank's required maintaining balance, you get deducted for service fee till your account is depleted.

Answer 4

I was told by Philippine Business Bank that they allow foreigneres to open a savings account. Just have to present proper identification.

However, I asked other banks also, and they said that foreigners are required to present their Alien Certificate of Registration (ACR). I believe this is a Central Bank regulation for those wishing to open a peso account.

PNB says they allow foreigner tourists to open only a dollar savings account upon presentation of proper identification.

Answer 5

I sincerly doubt you'll find a single bank in Manilla that would be willing to open a savings accout or any other type on a tourist visa. It's against the anti moneylaundering act.

You need to at least get a SSRV visa.

Answer 6

I know 100 guys on tourist visas who have bank accounts at PNB.

You need a residential address, your passport and drivers license.

You can then open a dollar savings account.
After 6 months you can open a peso account.

Answer 7

Speak to your hotel manager and ask for help.. My experience is if you have a connection they will open it in a heart beat. Just start asking people for help. Someone will know a person in the bank who will help you. I was told the same thing by 10 banks, and then BINGO. the right person called and they gave me what ever I wanted. Connections Connections is all it takes

Answer 8

Good luck! I don't know about the other banks but PNB charges fee when you withdraw money from your own account. It is your own money but they still charge you if you are not withdrawing from the same location you opened the account with. Way too different from U.S. banks.

Answer 9

Sad to say no, you cannot open a savings account any where in the Phil. I've tried even though I am joining with my sister who lives there. I've forgot their exact reason for that. I think for them it's too complicated. I may suggest to you to just open a dollar account, that's what I did.

Answer 10

you might try china bank they have a branch or two in NYC. we have an account with pnc but it is with my wife (a filipina) and I.