Bank loans in the Philippines

I am permanently in the Philippines since 8 years and I still don't have a Philippine bank account. They have ridiculous requirements and horribly bad service. Stay away from Philippine banks. Use your bank account abroad or just keep your cash on a save place.
(The bank is not a save place.)

i have 13a visa,getting a BDO acount was very easy,using only your bank acount from in your country of origin becomes costly fast.
dont need a loan but if i wood need it i will use my acount abroad due to much more interesting intrests.

greets Dirk

We have been permanent 13A residents in the Philippines for a year and obtained a mortgage with BDO before moving here. The qualifying was pretty simple but expect quite a long time before receiving your final approval because of everything being slow walked. I know of many expats that have gotten car loans but I didn't bother because of high interest rates.

I have had no need to apply for a bank loan. I would like to say that Bank of Philippine Islands. (BPI)  Has been the easiest to deal with. Accessible hours, several locations with good service. East requirements to open an account. They provided an actual MasterCard with out request. The credit limit increase with constant on time payments

i hv  temperory residence visa and my bank account is in bdo with big effort, but it is not cheque account, after six month it will be covert cheque account, only draw amount by atm 25000 peso per day, if need big amounts then manageral cheque will issue. about mamageral cheque i hv no experince. not sure it take  time one  day, one week or more, for   bank services i m not  satisfied.( coripot services)

I originally  started with BDO. I was very displeased with their services.
  My wife had a joint bank account with our daughter. It was Cheaper than sending via Western Union. Our daughter needed money urgently. We go to the bank to deposit to the joint account. They would allow my wife to deposit money due the fact she didn't know the account number. She had the bank card. Valid id etc. Just misplaced the account number. The teller was not permitted to look up the account due to privacy issues.
  For the 1st i got very angry and swore. It does not make sense as they see the account information on the computer
   I switch all our accounts to BPI. They are not marvelous. However i found their services far better than the others

I have a PNB bank account have no trouble at all. I have a savings account and a master card. Requirements min deposit 5000 peso. Don't know what account you are talking about but i have no problems at all

Hello davtjo
Can you tell what the requirements are for a foreigner to open a bank account with the Philippine National Bank?
I've heard too many stories from foreigners that are having a hard time opening an account with almost any bank.
Cheers
Rob

Best thing to do is email or call the bank.  Each bank has a different policy.
Some require 1x1 photo and 2 pieces of 🆔. Others require proof of address, your passport, your ACR  card, almost all require a certain amount of deposit usually 5,000php as well as a maintaining balance of ??? Amount. Often 5k to 25k... If you contact the bank direct they will be pleased to assist you and you will get the facts direct

Maybe admin should separate topics from expats to expats with Filipina wives.

I had a devil of a time trying to open a bank account here on a tourist visa. I tried bdo, east west, chinabank, bpi, finally gave up. Went without for over three years. Then, about eight months ago, I noticed a branch of RCBC in my area. Stopped in on a whim, and happened to be there when the regional manager was there. Told them I was interested in opening a bank account. I got one that day, it’s a current (checking) account, no monthly fees, no minimum balance, amazing. I opened it with 1000 pesos only, still on a tourist visa, it just goes to show that here, you just have to keep trying, because someone will bend the rules for a foreigner. Similar thing happened with PLDT. Because I was on tourist visa, I couldn’t open an account. Then, one day, they had a booth at the gate of my subdivision signing up new pldt customers. They helped me fill out the form, and they put me down as a permanent resident, and, now I have pldt internet and cable tv at a good price.

Just keep trying.

blacksheepjuno - Glad to hear that your persistence and patience paid off and you are now sorted.

From my experience regardless of bank,  each branch is like it’s own individual bank company and has its own set of rules and regulations.

What is right or wrong at one BDO Branch could be the opposite at another BDO branch down the road or in a different city. What is not okay in Manila is ok in Tagaytay etc.

We were told numerous times that we couldn’t  do this or we couldn’t do that, then we tried another branch and it’s was ok...so yes persistence can and will pay off just try a different Branch/Manager etc

@vehicross100 It seems that they each make up or invent their own rules, that seems to apply to many institutions and even government departments, each make up their own rules or each interpret the rules very differently, to each their own interpretation.

We found that each branch of BDO is independent of the other branches.  If you did not open an account in a particular branch, then they treat your account like it came from a different bank, charge fees to use that account.