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Post by Denis-NFA on Jul 13, 2016 1:11:07 GMT 7
I recently changed my receiving bank account from an Australian bank to a Philippine bank and given Banjo's experience I was a tad concerned if the transaction would go through. I am happy to say that the money came in on schedule. I am still on fortnightly pay for some reason that escapes me as I thought I would go onto 4 weekly. Maybe they will change it down the track. Who knows? |
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Post by wbmania72 on Jul 13, 2016 4:11:46 GMT 7
happy to hear that it worked out ok for you Denis.
would you like to share your exprience with us as i and many others like to do the same.
(assuming that you've done everything from overseas)
kind regards
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Post by Denis-NFA on Jul 13, 2016 7:29:32 GMT 7
happy to hear that it worked out ok for you Denis. would you like to share your exprience with us as i and many others like to do the same. (assuming that you've done everything from overseas) kind regards Sure wbmania72The first thing you need is a bank account and to establish that I provided passport, local rental agreement and local ACR-I card (foreigner visa card). There is also a minimum deposit of PhP 2000. Other Philippine banks vary as to the amount. I also had to sign a form allowing the USA to check my account and declaring that no money is coming from the USA as they, USA, now check every bank in the world to see if an American citizen has money sitting in an overseas bank account. I had to download an International bank account form (AUS178) for the Philippines and get the bank to fill it in. I emailed C/Link International with my request and a scanned copy of the bank account form. And that is it. PS The Philippines used to have secrecy laws similar to what Switzerland is supposed to have but they just changed the law. Presumably with the USA thing above the Australian Govt. will have access to the USA records pertaining to Australian overseas citizens. |
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Post by Banjo on Jul 13, 2016 8:25:33 GMT 7
I had to post mine in which contributed to the time I had to wait.
Good to see it now can be done online.
This happened twice.
Banjo (on phone) where's my pension?
Centrelink: you gave us the wrong account number.
Banjo: I scanned the relevant pages, how can that get the number wrong?
C/link: We'll have to do it again.
Did the Philippines insist that the US be allowed to check all accounts?
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Post by Banjo on Jul 13, 2016 8:31:01 GMT 7
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Post by Denis-NFA on Jul 13, 2016 9:32:50 GMT 7
I had to post mine in which contributed to the time I had to wait. Good to see it now can be done online. This happened twice. Banjo (on phone) where's my pension? Centrelink: you gave us the wrong account number. Banjo: I scanned the relevant pages, how can that get the number wrong? C/link: We'll have to do it again. Did the Philippines insist that the US be allowed to check all accounts? I just tried to google about the US checking overseas bank accounts but only found some Forbes articles from the time but you need to register and I won't do that. It came in 2013 and some banks around the world, I think mainly European, were talking about refusing and getting rid of their American customers because it meant opening their account book to the US IRS. I remember thinking at the time that if the US can check an overseas bank for US citizens then they will also know about Australians. Being a tad 'suss' on Western government 5 eyes alliance, spies R us so to speak, I just figured it wouldn't be too much of a stretch for the Australian government to ask the US if they happened to come across any Australian citizen overseas bank accounts. To answer your question Banjo I thought I was making a declaration to say that no funds that go into my account have anything to do with the US. But I have to go to the bank tomorrow and I will get a copy of the form and upload it here. |
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Post by warren1969 on Jul 13, 2016 9:37:37 GMT 7
Sure wbmania72 The first thing you need is a bank account and to establish that I provided passport, local rental agreement and local ACR-I card (foreigner visa card). There is also a minimum deposit of PhP 2000. Other Philippine banks vary as to the amount. I also had to sign a form allowing the USA to check my account and declaring that no money is coming from the USA as they, USA, now check every bank in the world to see if an American citizen has money sitting in an overseas bank account. I had to download an International bank account form (AUS178) for the Philippines and get the bank to fill it in. I emailed C/Link International with my request and a scanned copy of the bank account form. And that is it. PS The Philippines used to have secrecy laws similar to what Switzerland is supposed to have but they just changed the law. Presumably with the USA thing above the Australian Govt. will have access to the USA records pertaining to Australian overseas citizens. Dennis, Which bank did you open the account with? I have 2 accounts with seperate banks in the Philippines and apart from showing my ACR-I Card, Passport, proof of address locally and proof of pension I never had to fill out any forms giving the U.S access to view my account. As far as I'm aware that requirement is one;y for U.S Nationals or passport holders. There is no way I would be giving permission for a country that I have nothing to do with to access my account details. |
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Post by Banjo on Jul 13, 2016 10:10:00 GMT 7
Yes warren1969 my thoughts exactly. Maybe it only came in after the offshore banking scandal that netted people like our current prime minister? I suspect we'll see more of it while the rich make up their mind which is more important, the War on Terror or their God given right not to pay tax. |
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Post by Denis-NFA on Jul 13, 2016 10:14:27 GMT 7
1. Which bank did you open the account with? 2. There is no way I would be giving permission for a country that I have nothing to do with to access my account details. As I said to Banjo above I think it was a declaration to say that no money into the account has anything to do with the US but I will get a copy of the form tomorrow and upload it here. 1. The account is with CBC, China Banking Corporation. 2. I'm not sure that we have any say in it. For instance, as far as I know the Australian government can access eBay records so why not overseas banks through the US. And warren1969, Banjo. Do not get me wrong. I was outraged. But your in a Philippine bank and there are blokes standing around with shot guns. I asked what am I signing and actually froze. Just signed it. It is the only document I have ever signed in my life without reading it. |
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Post by ghostbuster on Jul 14, 2016 9:18:45 GMT 7
If there was not "BLOKES" with shotguns in banks in Philippines they would be robbed every day.
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Post by Denis-NFA on Jul 14, 2016 10:27:13 GMT 7
If there was not "BLOKES" with shotguns in banks in Philippines they would be robbed every day. Don't get me wrong. I make sure that those blokes know who I am and that I am there to do business. When I told someone in Perth that I was going to live in the Philippines they said "but they have guards with guns on every corner". I said I actually appreciate and it is a lot safer than walking through some inner city parts in Australia. |
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Post by Denis-NFA on Jul 14, 2016 10:28:57 GMT 7
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Post by warren1969 on Jul 14, 2016 11:36:12 GMT 7
Denis, I agree with you totally  its a lot safer with those "Blokes" being on every corner Bank, Pawnbroker, Jewllery store and every other shop you can think of. Without them there would be a lot of crime around the place and they serve as a great deterrent. |
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Post by aussie25 on Jul 17, 2016 14:30:50 GMT 7
I would love to know what kind of exchange rate they use? I'm using my Citibank card and get almost or better then XE rates without any fees. Is the Philippines bank having a fee to receive the funds also?
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Post by aussie25 on Jul 18, 2016 19:19:25 GMT 7
Anyone have the answer?
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its a lot safer with those "Blokes" being on every corner Bank, Pawnbroker, Jewllery store and every other shop you can think of. Without them there would be a lot of crime around the place and they serve as a great deterrent.