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Opening a Bank Account and Renting an Apartment in Manilla

 
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Ramblin' Man



Joined: 16 Nov 2008
Posts: 105

PostPosted: Sun Jan 03, 2010 9:37 am    Post subject: Opening a Bank Account and Renting an Apartment in Manilla Reply with quote

Hey all,

I may be interested in moving to the Philippines soon, and have some questions about getting set up there.

How easy is it to open a Bank Account and rent an apartment on just a tourist visa/visa on arrival?

What documents will I need to show to open a bank account? What documents will I need to rent an apartment?

If anybody can give me the names of any Banks or addresses/names of apartments that require less documentation from foreigners then perhaps some others do, that would be quite helpful I'm sure.

Regards

Ramblin' Man [/b]
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roym



Joined: 17 Nov 2008
Posts: 42

PostPosted: Mon Jan 04, 2010 7:59 am    Post subject: Reply with quote

Hi, I spend a lot of time in Cebu and circumstances should be the same...that is...foreigners not allowed to open bank accounts..you can access their bank ATM's to withdraw from homeland accounts...fees included , of course.
No documentation normally required to rent...usually asked for a month deposit and a month advance.
Personal comment...Manila!!?? Absolute madness and a hell of a lot more corrupt than Cebu. More expensive. More pollution. More chance of being robbed.Traffic is mayhem....took a taxi one time that took almost 30 mins and could have walked it in 10 mins!! There aren't many expats hanging around there compared to other parts of the country.
Good luck!
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Ramblin' Man



Joined: 16 Nov 2008
Posts: 105

PostPosted: Mon Jan 04, 2010 8:58 am    Post subject: Reply with quote

And what if you have an account with Citibank or HSBC, but opened in another country, can you access those banks ATM's in the Philippines for free, since they have branches there, or is it still a fee?
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roym



Joined: 17 Nov 2008
Posts: 42

PostPosted: Tue Jan 05, 2010 2:53 am    Post subject: Reply with quote

I honestly don't know the answer to that. I use their ATM's to take money from my homeland account for which there is a fee. Logic would say that if you withdraw from the same bank in another country there wouldn't be a fee...maybe only for currency rate exchange...as happens if you use a CC....but then, whenever is anything logical with the bank system... Rolling Eyes
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Worldly



Joined: 04 Dec 2006
Posts: 74
Location: The Cosmos

PostPosted: Thu Jan 07, 2010 10:48 pm    Post subject: Reply with quote

Ramblin' Man wrote:
And what if you have an account with Citibank or HSBC, but opened in another country, can you access those banks ATM's in the Philippines for free, since they have branches there, or is it still a fee?


The following is information from another private Forum I'm a member of. I have no reason to doubt its credibility.

SUBJECT: Funds Transfer from USA (March 2009)

I've found the easiest way to do this is to open a CITIBANK account in the USA, and withdraw from CITIBANK ATM's throughout manila (Makati, Libis, Greenhills, etc)

Also, when doing online transfers or even wire transfers from USA Citibank to Manila Citibank, its instant (no need to wait for a wire transfer which takes several days).

When using your USA citibank to withdraw in a Manila Citibank ATM, it gives it in peso already, and the limit is US$1,000 or close to P50,000 with no fees!

It doesnt even matter if your home state in the USA doesnt have a citibank branch because you can open it online.


ADVICE: All banks, including Citibank, are constantly revising their fees. The above information on "no fees" may have recently changed. If you are considering Citibank, I'd conduct due diligence and ask difficult questions prior to making a commitment.
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Ramblin' Man



Joined: 16 Nov 2008
Posts: 105

PostPosted: Mon Jan 11, 2010 12:02 pm    Post subject: Reply with quote

Roym, do you live in an apartment in Cebu? If so did you rent it or did your school (if your teaching,) rent if for you?

How much is the rent and deposit per month?

What would the rent be for a decent single apartment in Cebu?

Do you know what the average deposit is in Cebu? Like for the type of apartment I just described, what would you expect I would have to pay for a deposit?
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roym



Joined: 17 Nov 2008
Posts: 42

PostPosted: Mon Jan 11, 2010 8:54 pm    Post subject: Reply with quote

Hi, I spend quite a bit of time in Cebu...have mentioned in other sections that it's practically impossible to get a teaching job.
Anyway, rentals....I have rented a number in the past. As like anywhere, prices vary to district, size ,number of bedrooms, furnished, un-furnished,etc.
Generally you are asked for a months deposit and a month in advance and pay for your own water and electricity consumption.
Rental prices can range from 3,000 pesos per month to 40,000+ per month. Last time there I had a furnished studio appartment...perfectly adequate for myself..rent was 9,000 pesos per month and utilities around 1,000 per month. It was in a secure compound where there were 1 bedroom furnished appts.for 14,000pesos per month.
I have a friend who rents an unfurnished 3 bedroom appt. in Mandaue for 8,000 per month and spent about 60,000 pesos on essentials in furniture, kitchen appliances , etc.
So, there's a huge range of options.
The Sunstar newspaper has many ads in for rentals.
Just be careful if rental costs aren't mentioned in the ad because when a white face turns up to view you can guarantee an extra 2,000 pesos or so will be added to the cost.
I'm heading back there this weekend so if you're in town drop me an email...rcmcoau@yahoo.com.
Good luck!
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Tainan



Joined: 01 Apr 2009
Posts: 120

PostPosted: Mon Jan 11, 2010 10:58 pm    Post subject: Reply with quote

Quote:
There aren't many expats hanging around there compared to other parts of the country.


You say that like it's a bad thing....
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tttompatz



Joined: 06 Mar 2010
Posts: 1951
Location: Talibon, Bohol, Philippines

PostPosted: Tue Apr 20, 2010 12:38 pm    Post subject: Re: Opening a Bank Account and Renting an Apartment in Manil Reply with quote

Ramblin' Man wrote:
Hey all,

I may be interested in moving to the Philippines soon, and have some questions about getting set up there.

How easy is it to open a Bank Account and rent an apartment on just a tourist visa/visa on arrival?

What documents will I need to show to open a bank account? What documents will I need to rent an apartment?

If anybody can give me the names of any Banks or addresses/names of apartments that require less documentation from foreigners then perhaps some others do, that would be quite helpful I'm sure.

Regards

Ramblin' Man [/b]


There is a bit of mis information in this thread.

IF you arrive on a visa waiver stamp (21 days) you will need to extend.
At the end of your 59 days (stamp + extension) you will need to extend again.

After the 2nd or 3rd extension you WILL be required to REGISTER as a foreigner. You will get your registration card and you will be able to open an account in most banks.

SOME banks (like the BPI) will let a foreigner open an account with just your passport. You can get an ATM card that will work in MOST bank ATMs.

Other banks (like most thrift banks) or small banks won't let you open an account without being registered.

I have an account at the BPI and I am NOT registered (and never have been). I also have on-line banking with them. The only restriction is that I can't get a credit card from them.

In regards to rent - check the prices in the area or ASK some folks BEFORE you go to the landlord so you will have some idea of the rental rates.

Deposits are usually about 1-2 months rent + you need to pay your rent one month in advance.

.
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Kiels



Joined: 12 Feb 2010
Posts: 59
Location: UK

PostPosted: Tue Apr 20, 2010 5:13 pm    Post subject: Reply with quote

Just because someone wrote its practically impossible to get a teaching job in the Philippines. There are 2 jobs on MOD EDIT for an International school in Manila right now. I think the jobs are for a science teacher and a KS1 teacher at the same school. Hope that helps anyone looking for a job in the Philippines. x
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