quiltman

Phew! Wipes brow and opens a San Mig. That explains a lot mike and why the other Phils Banks in UK seem to infer only Filipino citizens or those with an account here can open an account in the UK. Hopefully if BPI europe do an "Italian job" on london it will not affect those of us already set up. Otherwise we'll have problems! I doubt they'll close London due to the high number of OFWs in UK but who knows. At least it explains Sergios answer to codermonkey.
let us know if you do set up a BDO UK account.

codermonkey

Their main beef seemed to be two things.

1. They didn't like the fact I told them my long term plan was retirement in the Philippines. They seemed to want people who are long term UK resident. They said they could maybe give me an account if I promised to pay all my pension funds in. I told them I am 43 so no pension funds to pay in yet. They did not like me stating I wanted the account for remittance purposes from the UK to the Philippines. They wanted me to promise to make it a main account and pay in 3000+ GBP per month, I refused to do this, I said I would maybe pay in 1000-2000 GBP per month.

2. Yes they seemed to think anyone using their services is some sort of criminal. There was lot nonsense about not letting third parties use your account, FACTA, KYC, Money Laundering, etc. Whatever I said to put their mind at ease didn't help and the whole process went like some sort of Nazi interrogation. The ironic thing is I work at a bank, I'm well aware of the regulations. I am single and would never let a third party use my bank account for obvious reasons.

They mentioned the account is a UK savings account, there is no ATM card or checking services. I said that is fine as long as online access and reduced fees for transfer to Philippines peso account. They seemed to think there was no advantage to the account and that I would get the same international money order charges for transfer from BPI Europe to BPI Philippines as I would from a UK bank.

The branch is quite strange, feels more like some government office than a commercial bank, the staff seem just interested in shuffling papers and not dealing with customers.
The security system is very bizarre and you basically have to be buzzed in and out of the building, the whole set up seems designed to prevent new customers!

I typically take a 30 minute lunch break as I have a busy job, took me 1.5 hours as I had to get the tube across London. I shall not be bothering again.

jonnijon

If you have a BPI account here in the Philippines you can open a BPI Europe account.

quiltman

Glad you can still do that. I was told you could not by another expat who tried recently.
When did you get this info - recently?

mikemike

After what I am reading here I will be visiting BDO on Monday, they have a branch in the Strand. Anyone know of any others in London and where those branches are based?

Thing that concerns me most is that there seems very little appreciation that these accounts are for many of us a financial lifeline for our families so they can receive death benefits and pensions etc when we are gone.

jonnijon

It was 2015

quiltman

Monday is holiday in UK Mike!
Here's PNB Philippine National Bank Europe Plc in London, Greater London
Metrobank only have a remittance office Metrobank Remittance Offices in London, UK ~ BanksPhilippines.com

let us know how you get on!

quiltman

Looks like it's changed since then , my friend tried last year.

mikemike

I mean BDO here not London. I am hoping they can tell me which place I open an account first, and the procedures. I may not manage today as the boss is organising the air con cleaner for today.

quiltman

Sorry Mike, misunderstood. Thought you'd popped back to UK for Easter!

stacy123

OK just an update by the op I've just spoken to serge at earl's Court branch. And he said I have to call the London office from the Philippines and tell them how much I want to transfer then they will give me a reference code to pick up the cash at any bpi branch in the Philippines. It takes one day to process. I also need to show passport. I'll take my debit cards just incase as nothing is straight forward over there! Hope this helps some of you.

quiltman

Thanks for the update Stacy.

JohnSurrey

Interesting thread... I have a BPI account in Phils and London - opened the UK account after I opened the Phils one...

Last year I remember getting an email asking me to supply them with a UK bank statement and something else ... basic Money Laundering stuff...

Anyway - for you - if you're planning on staying here a while - then when you get your visas you can apply for an ACR card and then use that to open a Phils BPI account and set up the BPI Express Online to do the transfers...

In the meantime just use your UK Bank ATM card or wire it to yourself online using World Remit or another provider.

stacy123

Hi yes I had all the money laundering emails and threatening to close the account if I didn't comply. I don't think I will need to use any remittance. I'll just do what you do, transfer money from ordinary British account to UK bpi then get them to send it in pesos to Philippines. I'll give it a go anyway.

JohnSurrey

Lol... that's not what I do

I transfer online from UK Clearing bank to UK BPI - using faster payments - normally takes a few hours..

Then I transfer (do the forex deal) online from BPI Europe (the London account) to BPI Philippines - takes a few seconds

It's much cheaper like that and you get a good rate

Normally I'll sell £1000 GBP which costs £5 in charges - today's rate (atm) is 72.95 c/f Google 73.34 (normally it's about the same as Google)