Go Back  British Expats > Living & Moving Abroad > Far East and Asia > Philippines
Reload this Page >

Remitting Money To Philippines - Change Of Rules:

Remitting Money To Philippines - Change Of Rules:

Old Sep 7th 2017, 9:42 am
  #1  
BE Enthusiast
Thread Starter
 
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 562
tropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond repute
Default Remitting Money To Philippines - Change Of Rules:

As usual at the beginning of the month. I made my regular transfer of funds to my account here. Unfortunately as yet it hasn't arrived. I phoned my bankers, who were most helpful, and I promised them, I would notify as many people as possible, of the new rule. My bankers in UK have a back-log of phone calls to make due to failed transactions to the Philippines.


ALL REMITANCES MUST INCLUDE THE REASON FOR THE REMITTANCE, ELSE THEY WILL BE REJECTED, BY THE RECEIVING BANK.


Mine is in a queue of failed transactions, for this reason.


My branch here, is unaware of this new development. I will make them aware tomorrow.
tropicofcancer is offline  
Old Sep 7th 2017, 9:53 am
  #2  
BE Forum Addict
 
Joined: Feb 2014
Location: Capiz
Posts: 1,646
Stokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond reputeStokkevn has a reputation beyond repute
Default Re: Remitting Money To Philippines - Change Of Rules:

Originally Posted by tropicofcancer
As usual at the beginning of the month. I made my regular transfer of funds to my account here. Unfortunately as yet it hasn't arrived. I phoned my bankers, who were most helpful, and I promised them, I would notify as many people as possible, of the new rule. My bankers in UK have a back-log of phone calls to make due to failed transactions to the Philippines.


ALL REMITANCES MUST INCLUDE THE REASON FOR THE REMITTANCE, ELSE THEY WILL BE REJECTED, BY THE RECEIVING BANK.


Mine is in a queue of failed transactions, for this reason.


My branch here, is unaware of this new development. I will make them aware tomorrow.
Is this with BPI, did mine ( BPI Europe>BPI here ) on Tuesday and it arrived within the usual 1 hour.
Stokkevn is offline  
Old Sep 7th 2017, 10:02 am
  #3  
BE Enthusiast
Thread Starter
 
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 562
tropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond repute
Default Re: Remitting Money To Philippines - Change Of Rules:

It covers remittances from a foreign bank. It is a rule that has only just been implemented. I think in your case, it would be seen merely as a transfer, between accounts.
I am with a British Bank, and I have an account here with my wife. In a Philippine Bank. We have had no trouble, until this month, and the change of rules.
tropicofcancer is offline  
Old Sep 7th 2017, 8:25 pm
  #4  
BE Forum Addict
 
Joined: Jan 2015
Posts: 2,349
Raffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond reputeRaffin has a reputation beyond repute
Default Re: Remitting Money To Philippines - Change Of Rules:

The PNB in London is inconsistent on this, their online card remittance service involves, or at least it did last year up to the time I stopped using it, checking a list of reasons. Whereas their email, and I presume phone service also, with one's funds paid into and coming from a PNB holding account they operate at Nat West Bank, do not ask for the reason.
Raffin is offline  
Old Sep 8th 2017, 12:40 am
  #5  
BE Forum Addict
 
Joined: Nov 2012
Posts: 1,643
mikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond reputemikemike has a reputation beyond repute
Default Re: Remitting Money To Philippines - Change Of Rules:

BPI, just did a larger than usual transfer, no issues.
mikemike is offline  
Old Sep 8th 2017, 12:43 am
  #6  
BE Forum Addict
 
Joined: Dec 2013
Location: Consolacion,Cebu
Posts: 1,928
quiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond repute
Default Re: Remitting Money To Philippines - Change Of Rules:

Originally Posted by tropicofcancer
It covers remittances from a foreign bank. It is a rule that has only just been implemented. I think in your case, it would be seen merely as a transfer, between accounts.
I am with a British Bank, and I have an account here with my wife. In a Philippine Bank. We have had no trouble, until this month, and the change of rules.
Interesting in that it says it will be rejected by the RECEIVING Bank.So I would have thought it is up to the bank this end to inform you that they had rejected a transfer of funds? Oh, sorry, forgot this is the Philippines!
If you had not called your UK bank then it seems you would still be waiting for the transfer..............
Good on them for trying to let customers know.
quiltman is offline  
Old Sep 8th 2017, 1:18 am
  #7  
BE Enthusiast
Thread Starter
 
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 562
tropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond reputetropicofcancer has a reputation beyond repute
Default Re: Remitting Money To Philippines - Change Of Rules:

A transfer within the same bank, to and from the same person, attracts little attention. It is remittances, that they are after. I have a feeling that this is to do with the events such as in Cordova. Where the remittances are made by wire. Sadly I think a lot of OFWs are going to fall foul of this rule.


I wish I had checked with my bankers Thursday, but foolishly, I gave it another day.
tropicofcancer is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.