Hope this is correct
Jan 3rd 2015, 11:53 pm
#1
Just Joined
Thread Starter
Joined: Jan 2015
Posts: 1
Hope this is correct
Hello.
This is my first post, please be gentle with me.
I am retiring in June of this year and plan to move to the Philippines. I am not sure which area / province but want to spend 6 - 8 weeks travelling around 'testing' some sites.
Do I go straight for a retirement visa or do I get an extended visitors visa. Once I have found the area I want to start in I intend to return to the UK, close my flat and then make the final move.
What is the best way for my pension to be paid?
I have lots of questions so I had better take then in small bites.
This is my first post, please be gentle with me.
I am retiring in June of this year and plan to move to the Philippines. I am not sure which area / province but want to spend 6 - 8 weeks travelling around 'testing' some sites.
Do I go straight for a retirement visa or do I get an extended visitors visa. Once I have found the area I want to start in I intend to return to the UK, close my flat and then make the final move.
What is the best way for my pension to be paid?
I have lots of questions so I had better take then in small bites.
Jan 4th 2015, 1:24 am
#2
BE Enthusiast
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 562
Re: Hope this is correct
Hi Bof. You will find a few posts here on that very subject. You have many choices with regard to your pension. Many seem to use BPI (Bank of Philippine Islands). Who have a UK office.
ABC (Allied Banking Corporation) also have a UK office. They have branches here all over.
BDO (Banco D'Oro) are expanding, they have branches in SM and are open seven days a week until late (seven in the evening). No International banking at weekends though.
From previous posts on here. It would seem most of us; have our money paid into a UK account. Then transfer it here, by varying means. The choice is yours.
Best to read previous posts on here. There are varying opinions, and preferences. Mostly with reasons given.
You can open a bank account here, from a UK branch of ABC and BPI at least.
You can drive here for ninety days on your British licence. Then obtain a Filipino one if you wish. It will cost just over P1000 for your first one. Then just under P1000 for its renewal every three years.
UK banks will not send Debit/Credit cards here, but the ATMs of the big banks accept them.
ABC (Allied Banking Corporation) also have a UK office. They have branches here all over.
BDO (Banco D'Oro) are expanding, they have branches in SM and are open seven days a week until late (seven in the evening). No International banking at weekends though.
From previous posts on here. It would seem most of us; have our money paid into a UK account. Then transfer it here, by varying means. The choice is yours.
Best to read previous posts on here. There are varying opinions, and preferences. Mostly with reasons given.
You can open a bank account here, from a UK branch of ABC and BPI at least.
You can drive here for ninety days on your British licence. Then obtain a Filipino one if you wish. It will cost just over P1000 for your first one. Then just under P1000 for its renewal every three years.
UK banks will not send Debit/Credit cards here, but the ATMs of the big banks accept them.
Jan 4th 2015, 6:36 am
#3
BE Forum Addict
Joined: Nov 2012
Location: Suffolk UK
Posts: 1,179
Re: Hope this is correct
A retirement visa is not cheap and the Philippines is not for everybody. Come here and stay on a visit visa first, it may even take you a year or two to decide if you can live here. The Philippines can wear you down and some just can't aclimatise. Don't burn your bridge's and always have an escape plan.
Jan 4th 2015, 11:05 am
#4
BE Forum Addict
Joined: Nov 2012
Posts: 1,643
Re: Hope this is correct
If you own the flat in the Uk best to keep it and rent it out once you have decided to move over
renewing the tourist visa is easy to do and better option to start with
I use BPI earls court in Uk for funds transfer, they accept pensions and other payments and it is easy to transfer on line to the Philippines in pesos at a great rate. amazing how easy it is not to look back to traditional Uk banking. In saying that do not close your UK bank accounts as it be impossible to open a new one from the Philippines. Just have BPI or ABC as additional.
Keep one hand on your heart and the other on your wallet as it is too easy to lose both.
renewing the tourist visa is easy to do and better option to start with
I use BPI earls court in Uk for funds transfer, they accept pensions and other payments and it is easy to transfer on line to the Philippines in pesos at a great rate. amazing how easy it is not to look back to traditional Uk banking. In saying that do not close your UK bank accounts as it be impossible to open a new one from the Philippines. Just have BPI or ABC as additional.
Keep one hand on your heart and the other on your wallet as it is too easy to lose both.
