After some time most will open a Peso account at a local bank, when you do open a USD account as well. Just wire money to your USD account here and move to Peso when you feel the conversion rate is good. You can also deposit a personal check in your USD account from your home country, the cost is $5.00 and takes about 30 days to clear. Go to the bank once a month get what you need for the entire month and you are GTG. Obtaining money from an ATM is not always an option here. Whatever you do have more than one way to get funded here. Remitly works well also.
When I moved to the Philippines 8 years ago the cost of depositing a U.S. check into my Philippine dollar account was $5, as you indicated. Now, they want $30 to deposit a U.S. check into a dollar account. Still takes 30 days to clear. (I don't do that anymore since a wire transfer costs the same and only takes a few days ....must be a very slow wire....)
What does PayPal charge to transfer? Is it from PayPal to a Philippine dollar account? Where do you do the currency exchange....PayPal or your Philippine bank? How is the rate compared to the international standard rate for that day?
As far as I know PayPal has never charged me anything to transfer money in or out of my own bank account unless I want an expedited transfer or unless the money is coming from a credit card. Also sending money to individuals is free as long as you say you are sending it to friends and family.
I simply maintain two different PayPal accounts one of them is in dollars one of them is in pesos. PayPal will switch currencies instantly if you want them to. I don't need to do that in my situation.
Hi….. My family and I will be relocating in the Philippines in April. I appreciate the info you gave because I am deciding where to deposit my SS and Pension without much headaches. Since most banks here require a US address, how is it working with Paypal? Thinking of getting a Virtual Address for my mail. Any suggestions on that? I also didn't realize you can have peco and a US dollar account with Paypal…. Thanks again for the info.
@@Life_In_The_Philippines you can change the currency your PayPal funds are held in, it can be pesos or dollars or anything you want. I rent a mailbox at the UPS store for $20 a year so I have an address.
@ ok thanks! You don't use the UPS mailbox as your physical home address… right?? I rather now have any banks or SS office now my actual living location but I probably will not have a choice. Do they mail your packages and other mail to you in the Philippines?
After some time most will open a Peso account at a local bank, when you do open a USD account as well. Just wire money to your USD account here and move to Peso when you feel the conversion rate is good. You can also deposit a personal check in your USD account from your home country, the cost is $5.00 and takes about 30 days to clear. Go to the bank once a month get what you need for the entire month and you are GTG. Obtaining money from an ATM is not always an option here. Whatever you do have more than one way to get funded here. Remitly works well also.
@@kanointhephilippines8082 thank you that is good advice
When I moved to the Philippines 8 years ago the cost of depositing a U.S. check into my Philippine dollar account was $5, as you indicated. Now, they want $30 to deposit a U.S. check into a dollar account. Still takes 30 days to clear. (I don't do that anymore since a wire transfer costs the same and only takes a few days ....must be a very slow wire....)
@@pilotusa I agree, $30.00 is expensive. Thankfully my bank is still $5.00.
What does PayPal charge to transfer? Is it from PayPal to a Philippine dollar account? Where do you do the currency exchange....PayPal or your Philippine bank? How is the rate compared to the international standard rate for that day?
As far as I know PayPal has never charged me anything to transfer money in or out of my own bank account unless I want an expedited transfer or unless the money is coming from a credit card. Also sending money to individuals is free as long as you say you are sending it to friends and family.
I simply maintain two different PayPal accounts one of them is in dollars one of them is in pesos. PayPal will switch currencies instantly if you want them to. I don't need to do that in my situation.
Hi….. My family and I will be relocating in the Philippines in April. I appreciate the info you gave because I am deciding where to deposit my SS and Pension without much headaches. Since most banks here require a US address, how is it working with Paypal? Thinking of getting a Virtual Address for my mail. Any suggestions on that? I also didn't realize you can have peco and a US dollar account with Paypal…. Thanks again for the info.
@@Life_In_The_Philippines you can change the currency your PayPal funds are held in, it can be pesos or dollars or anything you want. I rent a mailbox at the UPS store for $20 a year so I have an address.
@ ok thanks! You don't use the UPS mailbox as your physical home address… right?? I rather now have any banks or SS office now my actual living location but I probably will not have a choice. Do they mail your packages and other mail to you in the Philippines?
@@Life_In_The_Philippines Yes I use the rented box as my physical address.I know others who use the actual bank address and rent a safe deposit box.
@@donaldmagnus317 do they forward mail to the Philippines?
Open a account Philippine bank in America