Opening a bank account and atms in the Philippines


 

Question: Can I open a Bank account in the Philippines? If so, do I have to pay a fee when use the ATM machines? and how common are they?


Answer : Sure you can open an account in The Pi no problem at all, at least you could when I was living there about a year ago. (after sep11 when they were being strict). I think it's a sensible idea if you're staying a while, and the only thing to be careful of is not bumping into the security guard on your way into the bank incase his finger involuntarily curls round the trigger of his stockless shot gun!. I used Bank of the Philippine islands and as I remember just had to show my passport (might be good to have one more piece of I.D just in case though.) You don't have to pay a fee when you use their ATMs or indeed any other Bank's machine which uses the same network. (you'll see a picture of your banks logo or your ATM card by the machine if it uses the same network.) You'll only pay a fee if you use the branch of another bank which does not support your network. Hope that’s clear! Every city will have ATM machines and as Bank of the Philippines is one of the biggest banks should also have a branch. Some smaller towns however may not have ATM machines so as always its a good idea to carry round various forms of your hard- earned....maybe a travelers check or two - your ATM card - your visa or what ever – dollar - peso. That way you have plenty to hand over when you get mugged!

 

 
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