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Old Aug 9th 2016, 10:12 am   #1
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Default Philippine Peso to Pound

Hi Everyone,

I am 22 years old and moving back to manila again in January 2017 with my partner, For the first 6 to 8 months we are just using our savings as income until I get my old job back out in Manila.

The pound has fallen quite considerably against the peso recently to 58 peso to the pound.

My main question is would it be a good idea to buy the pesos now to prevent further falls or just wait it out and hope.

Thank you

Harry
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Old Aug 9th 2016, 11:05 am   #2
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Default Re: Philippine Peso to Pound

It's 61 this morning with BPI. I think the 58 is the tourist rate. Best bet is to set up account with BPI Europe in Earls Court, then set up BPI peso account here, enrol for BPIExpress online and bingo! Transfer when you want and cheaply - £5 for up to £1000. If you want more info then PM me. quite a few expats here use this method.
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Old Aug 9th 2016, 11:29 am   #3
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Default Re: Philippine Peso to Pound

Quiltman is right in what he says. A good gauge on what the rate is minute by minute is to keep an eye on XE Currency Converter - Live Rates the BPI rate lags a few hours behind this so if XE shows a big jump you can delay sending money, conversely if there is a drop transfer soonest - last Thursday the £/Ph dropped from 62.8 to 61.4 due to £ interest rate reduction, two hours later I still got 62.7 with BPI, If I had waited until the next day when I normally sent my money I would have got 61.15 with BPI
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Old Aug 9th 2016, 11:44 am   #4
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Default Re: Philippine Peso to Pound

Could I buy philippine pesos directly from BPI in earls court ? I live 5 mins away ?

thank you so much for the reply
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Old Aug 9th 2016, 11:50 am   #5
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Default Re: Philippine Peso to Pound

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Originally Posted by harrygrey View Post
Could I buy philippine pesos directly from BPI in earls court ? I live 5 mins away ?

thank you so much for the reply
Give them a call they will tell you !!
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Old Aug 9th 2016, 11:55 am   #6
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Default Re: Philippine Peso to Pound

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Originally Posted by harrygrey View Post
Could I buy philippine pesos directly from BPI in earls court ? I live 5 mins away ?

thank you so much for the reply
No. BPI Europe is a licenced deposit taker. Its prime function is to enable money transfers back to Philipines. It is a registered UK bank and authorised by the UK financial services act,and comes under the UK bank guarantee scheme but it does not perform all the functions you might expect of a UK bank - no cheque book , no ATM card, no credit cards etc. All that is done by BPI here in Phils. If you go in, they will set you up with a STAR account and can arrange for a peso account to be opened here in Phils. Then when you arrive, you go to your nominated branch and collect your ATM card. They are very helpful and efficient.
www.bpieuropeplc.com
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Old Aug 9th 2016, 11:57 am   #7
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Default Re: Philippine Peso to Pound

thank you very much I truly appreciate it
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Old Aug 9th 2016, 2:13 pm   #8
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Default Re: Philippine Peso to Pound

If you go in, they will set you up with a STAR account and can arrange for a peso account to be opened here in Phils. Then when you arrive, you go to your nominated branch and collect your ATM card. They are very helpful and efficient.
www.bpieuropeplc.com[/QUOTE]

Not any more Quiltman .... I set up my STAR A/c 2 months ago and asked about an ATM card and a/c for BPI in Lucena .... They said that they no longer do this. Much to my disappointment, as I now have to transfer to my G/f account ...... she's never been so rich LOL.
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Old Aug 9th 2016, 11:19 pm   #9
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Default Re: Philippine Peso to Pound

As you are not planning to come back to the Philippines until January 2017 I would not do anything regarding money until the earliest October. The financial markets are extremely sensitive to any positive or negative issues that affect the economic potential of a country.
Brexit created the perfect storm for those who short sold Sterling. All that Brexit created was negative comments about the UK economy.
The politicians are on holiday at the moment so nothing of note is going to affect current exchange rates to any significant degree. When governments return to normal business do not be surprised to see positive comments appearing regarding the UK economy.

Finally if the Republican US Presidential candidate wins the election in early November watch the US$ slide.
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Old Aug 10th 2016, 2:09 am   #10
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Default Re: Philippine Peso to Pound

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Originally Posted by Bazza070958 View Post
If you go in, they will set you up with a STAR account and can arrange for a peso account to be opened here in Phils. Then when you arrive, you go to your nominated branch and collect your ATM card. They are very helpful and efficient.
www.bpieuropeplc.com
Not any more Quiltman .... I set up my STAR A/c 2 months ago and asked about an ATM card and a/c for BPI in Lucena .... They said that they no longer do this. Much to my disappointment, as I now have to transfer to my G/f account ...... she's never been so rich LOL. [/QUOTE]
Thanks for the update Bazza. I know you usually need an ACR card to set up an account here , but when we applied they initially said they could not do it, but asked why I wanted a peso account! told them we were emigrating and needed account to pay for visas etc. no problem they said and account was operative less than a week later. Ah well, things change.
i know a couple of expats here have done it in reverse - opened account with BPI here, who then opened a STAR account for them in BPI Europe - some paperwork needed couriering back to UK but went smoothly.
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Old Aug 10th 2016, 7:58 am   #11
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Default Re: Philippine Peso to Pound

Quote:
Originally Posted by quiltman View Post
Not any more Quiltman .... I set up my STAR A/c 2 months ago and asked about an ATM card and a/c for BPI in Lucena .... They said that they no longer do this. Much to my disappointment, as I now have to transfer to my G/f account ...... she's never been so rich LOL.
Thanks for the update Bazza. I know you usually need an ACR card to set up an account here , but when we applied they initially said they could not do it, but asked why I wanted a peso account! told them we were emigrating and needed account to pay for visas etc. no problem they said and account was operative less than a week later. Ah well, things change.
i know a couple of expats here have done it in reverse - opened account with BPI here, who then opened a STAR account for them in BPI Europe - some paperwork needed couriering back to UK but went smoothly.[/QUOTE]Quiltman we did it the reverse way as been out of Uk for 15 years
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Old Aug 10th 2016, 7:58 am   #12
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Default Re: Philippine Peso to Pound

Thanks for the update Bazza. I know you usually need an ACR card to set up an account here , but when we applied they initially said they could not do it, but asked why I wanted a peso account! told them we were emigrating and needed account to pay for visas etc. no problem they said and account was operative less than a week later. Ah well, things change.
i know a couple of expats here have done it in reverse - opened account with BPI here, who then opened a STAR account for them in BPI Europe - some paperwork needed couriering back to UK but went smoothly.[/QUOTE]


Yes I tried this as you had mentioned earlier in posts. Perhaps I was just unlucky, altho I did say I was retiring and would be staying in Philippines indefinitely. No worries really as my G/f has an account, altho my secret stash will have to wait till I get my ACR and get my own account
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Old Aug 10th 2016, 10:11 am   #13
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Default Re: Philippine Peso to Pound

Quote:
Originally Posted by mikemike View Post
Thanks for the update Bazza. I know you usually need an ACR card to set up an account here , but when we applied they initially said they could not do it, but asked why I wanted a peso account! told them we were emigrating and needed account to pay for visas etc. no problem they said and account was operative less than a week later. Ah well, things change.
i know a couple of expats here have done it in reverse - opened account with BPI here, who then opened a STAR account for them in BPI Europe - some paperwork needed couriering back to UK but went smoothly.
Quiltman we did it the reverse way as been out of Uk for 15 years[/QUOTE]
Could not remember if it was you or mikelincs , so hedged my bets!
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Old Sep 7th 2016, 11:53 am   #14
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Default Re: Philippine Peso to Pound

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Originally Posted by harrygrey View Post
The pound has fallen quite considerably against the peso recently to 58 peso to the pound.
After some colourful statements in the last week it has gone from 61 to 62.5.
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Old Oct 20th 2016, 11:24 am   #15
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Default Re: Philippine Peso to Pound

hard brexit, down to 58.89
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