expatinthephilippines.com » – foreigner http://www.expatinthephilippines.com a Dutch expat decided to spend the rest of his life in the Philippines Wed, 08 Feb 2012 08:37:55 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 bank account in the Philippines http://www.expatinthephilippines.com/bank-account-in-the-philippines/ http://www.expatinthephilippines.com/bank-account-in-the-philippines/#comments Thu, 06 Oct 2011 13:47:04 +0000 Jan http://www.expatinthephilippines.com/?p=4024

Comments

  • October 15, 2011, Joe P writes: Philippine drivers license and my 13a ACR card it is those TWO items that stop others from opening accounts. Without them you cannot open an account in the Philippines.
  • October 15, 2011, Jan writes: Joe, I do not understand what you mean. Almost all foreigners, living in the Philippines, have a Filipino drivers license , and many have some kind of ACR card. But other ID's are also OK, as far as I know, to get a bank account on their sole name. Different banks have different terms, so maybe that's the problem. Just try BDO.
  • October 16, 2011, Karen writes: Actually the ACR is the major problem as all the banks I've talked to (including BPI and Citibank) require the ACR card. people who have just arrived and are still in process of sorting out their visa, don't have ACR cards, so can't get a local bank account and also have a hard time paying local bills. You don't need a drivers licence as most banks will accept your passport. Supposedly HongKong Shanghai bank is the only bank where you don't need an ACR card.
  • October 16, 2011, Jan writes: Karen, you are right. Someone who likes to open his own personal bank account needs to have a steady address first. But also tourists staying longer than 59 days are required to get the ACR card. So after that moment they also can get a bank account. Until that moment they can only get their money from a credit card or foreign bank card. When someone rents a house, he also needs electricity, telephone, water etcetera. Make sure these contracts are done in the foreigners name, so the bill will also be in their name. On the other hand, try to open a bank account in an other foreign country. When I, a dutch man, go to the USA I cannot open a bank account the first day. I need a steady address first and other documents to prove my intentions.
  • October 30, 2011, Allen writes: I opened an acct w/only my passport at Bank of Commerce. I had no ACR card & no PI DL. It was a simple process.
  • November 1, 2011, Jan writes: Good for you, many foreigners are not that lucky!!
  • December 27, 2011, John writes: Opening a bank account in the USA as a foreigner is extremely easy. Renters in the Philippines cannot get the utilities in their name. It must be in the owner's name.

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Comments

  • January 11, 2010, Chris writes: And perhaps an important tidbit...don't bribe anyone. You usually don't need to. ;-)
  • January 12, 2010, Jan writes: Hi Chris, Nice of you to stop by on my website, Thanks. In getting a Drivers license no need to pay to someone! It is easily done and fast.

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