Hi, Has any non-filipino opened a bank account in PI? Could I open one as a non resident? If it's not possible what about having a bank account that is trading both in UK and PI (HSBC for example) and transferring between the two . Could I do free transfers with it being the same bank? Any feedback appreciated
I have no experience, but if you are looking for a bank trading in UK and PI it might be worthwhile checking out Citibank.
Only really possible to open an account after you get an ACR card which you would get after an extension beyond a 59 day stay, I don't know if it is possible to get the ACR before that, would be interested to know. I think HSBC would probably still charge you big transfer fees to transfer between a UK HSBC and Philppine HSBC account but you never know worth calling them to discuss. I know that one or two of the guys here that are UK resident have accounts over there but I am not really sure how they managed it.
We got a PNB account. I'm named on the account with the wife. It was quite easy and quick (by philippine standards). We picked PNB becasue we use them to tranfer money via their europe division. Also they have internet banking so it makes life easier. i know some here use HSBC but I believe that involves going the the main branch in Makati. I could be wrong though
You can have HSBC accounts in the Philippines without any residency qualification (ie ACR-I Card) provided that those accounts are opened by HSBC's international banking division in the UK. If you can, get "Premier" accounts as they will save you money on things like transfers (which are then free). You'll need to tell the Bank which of the Philippine branches will be your "home" branch and it is from there that you'll collect your ATM/Debit cards etc. As well as the National Capital Region, there are brancges in Cebu and Davao.
Thanks for the positive feedback. I mentioned HSBC as I knew they had a branch in PI. I checked and they have a branch in Cebu too. I'm guessing the premier is a chargeable account or minimum monthly deposit? I'll check it out later. I see there is a Citibank in Cebu too but you need 75k total savings to avail of free transfers. I'll have a look at PNB too. Thanks
