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@Tariq1983 .. what I have done was to keep my main bank account in US for deposits, etc., do an automatic monthly money dump/transfer .. if you will into my Schwab account and use your Schwab Debit Visa for all of your transactions in PH.. like buying furniture, appliances, grocery shopping, etc.  Schwab will rebate you at the end of month with any fees.  I have found that this was the most economical and ease of use way with my money... and remember- bring USD over (Only 100 dollar bills (no marks and no tears) or they won't accept them for exchange. You are allowed up to 10K through customs.

@drule I used Wells Fargo global transfer which charges me $4 per transaction.


What is the exchange rate on your transfers?

@tpiro oh.. forgot to add.. with the Charles Schwab account that I use.. it is only the checking and not brokerage account..  no limits

@tpiro . . . .  with the Charles Schwab account that I use.

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Hi Tony. . . .How do you transfer money into your Schwab account?

@Tariq1983 How long are you staying?  If for only 1 month... I would just bring cash, and keep 2 debit cards with 2 different banks to have as a back up.  Credit card use at businesses is hit and miss... cash is king in Philippines. I personally bring l cash and use a weekly budget to try and stay on mostly... I only use my debits as back up, and credit also back up.

@drule: whatever is the bank exchange rate.
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The exchange rate is how many Pesos to $1. At Wise today it's 52.265. Banks will give you a lower rate. On a free transfer the bank will give you a lessor amount of Pesos per dollar.

@Wellsfry im staying indefinitely

@Lotus Eater i dont think i ever asked about banking.

@Enzyte Bob hey spence... i just do a monthly transfer from primary bank to schwab checking.. no fee

@Enzyte Bob hey spence... i just do a monthly transfer from primary bank to schwab checking.. no fee

- @tpiro

Check with your local USA Bank for their Partner banks in Philippines which makes it easier and less expansive for transfers. I have a USA Wells Fargo Account where my SS and Pensions are deposited. When I transfer money from there to my BDO Philippines Account, they charge me four dollars for a Transfer Fee regardless of amount. They also charge an Exchange Rate Fee, usually about one to 1 1/2 percent of the amount depending on the amount. A Transfer of between $2,000 to $3,000 is the optimal lowest Exchange Rate Fee. Anything more or less than that amount suffers a higher exchange rate fee. Funds are immediately available - less than one hour. I can also use my Wells Fargo Debit Card here, but am charged a 3% Fee for those transactions. Sometimes necessary when the local BDO Site is not working and you need to pay at a Supermarket or Online. you can also set up your local GRAB Driver and Food Delivery to be paid by your USA Credit Card without any exchange fee.

- @talamban