stacy123

Hi just need some advice.Travelling to Philippines for a month holiday in June. I have a UK bpi star account and I was wondering if I can transfer money over there to pick up on arrival? I'll be picking off nearly every town on North Luzon. So how can I do this with out using atms that hit you both ends of a charge! may as well make use of this account if where possible. Thanks in advance

mikemike

Use BPI atm they are pretty much everywhere. Suggest you check with UK office that your card is approved for overseas transactions as it is NOT a given. If it is, they may be able to confirm the fees, if any.

stacy123

Hi Mike thanks. But the account I have has no atm card. I opened it at earl's Court. I was just wondering if I can somehow transfer money over there. Thanks

quiltman

Not easily! BPI London, although listed as an approved deposit taker by the Bank of England , is primarily set up to forward money to the Philippines by OFW's. (Overseas Filipino Workers) and has no ATM card or chequebook. you used to be able to get them to set up a peso account for you here, but due to money laundering rules that's no longer possible. to open an account here you either need a residents visa, or after 6 months here and ACR card. Now, it may be possible to send money from your BPI STAR to one of the money transfer places here - Western Union etc but you'd have to ask BPI. I find BPI London very good at responding to emails [email protected]
Silly question. What made you set up a BPI STAR account? Are you thinking of settling here in the future?

quiltman

Just checked at https://www.bpiexpressonline.com/p/1...e-service-fees
and it looks like you can send money for you to pick up at ANY BPI branch here - talk to London as this seems to answer your question!

codermonkey

I went to open a BPI account at the London branch and was informed that this is 'just a uk savings account'. I was told it was of no use in the Philippines and the lady spent 20 minutes trying to talk me out of opening an account!

mikemike

Suggest you ask to speak to serge, the branch manager. Yes the account is designed to receive UK funds. When you open a linked account in he Philippines you can do on line transfer and withdraw in the Philippines with a local BPI atm card

quiltman

That's not quite true. Yes, it is a form of savings account but is designed to allow transferring sterling funds into a peso account here. The main change in the last few years is that they can no longer open a peso account for you from London. you need to prove residence here now. BUT according to their website, and Serge will confirm , you can use it to send funds for collection at ANY BPI branch here - you may have to enroll for bpiexpressonline , but again Serge will help - he is remarkably helpful and prompt in responding to emails.
If you send him an email to the bpinoy email then put subject as "Attention of Serge". I think it was mikemike who got BPI here to open a BPI Europe STAR for him , but again, that's now been stopped. As the OP says they are only going to be here for a month then I'd ask Serge for the easiest way to do it. BPI exchange rate is good and the fees are reasonable. Like others here, I transfer funds from london to Cebu in seconds via bpiexpressonline.

stacy123

Thanks for all the replies I really appreciate it. In answer to Mike's question why I opened the account? 3 or so years ago I was seriously thinking of moving there after a year living there. so when I came back to the UK I opened a bpi star account in preparation. But then I had second thoughts about it all! But now I want seriously travel around. So I would really like to make use of my bpi account for the exchange rate and cut the atm charges. I'll get on to them and sort it out get an understanding of how to transfer money for pick up. Ta

quiltman

Let us know how you get on Stacey. It may be useful for others in the future.

codermonkey

Oh well, no great loss, but yeah seems a bit pointless having a BPI branch in UK, won't let you open an account.

quiltman

On the face of it it seems a bit strange. You said you went into Earls Court to open an account? did you give them a UK address? If you gave them a Phils address then Sergios answer is correct.
with a UK address then there should be no problem opening an account.Just a small correction, BPI Europe is not a branch of BPI , it is a seperate UK registered Bank whose ultimate owner is BPI here. I believe this is because an overseas BRANCH in the UK cannot accept deposits and they be covered under the Financial services deposit guarantee of £85,000.There are some other convoluted rules applying to BRANCHES versus ENTITIES.
The thing is that banking laws worldwide have changed over the last few years so with few exceptions it is not easy to open an account in a country where you are not resident. The OP , Stacey , obviously was resident in UK when she opened her account.
We opened our STAR 2 years before we moved here so we could build up a nice balance ready for our move. In those days(2011!) BPI Europe actually asked if we wanted them to set up a peso account here , which they did, we nominated a branch and a couple of days after arriving went to the branch and collected ATM card etc. No longer possible!
Now it seems what you have to do is set up a UK account with BPI , BDO or other Phils bank having a UK company, then come here and once you have either an SRRV,other suitable visa or ACR card after 6 months you can open a peso account here. In the interim I presume you would have to send yourself money via one of the money transfer people such as western Union, Transferwise, forex etc. Pain in the backside.
Once sorted the online banking works well . I just transferred my wifes pension this morning and it appeared in her peso account here within 5 seconds of clicking OK.

codermonkey

Gave them UK address, yes went earls court, only ever visited Phils as tourist thus far.

Never been declined a financial product in my life, credit rating 960+, quite offended really.

Can't be sorted they won't give me an account, basically could not be arsed to open it.

quiltman

That is strange! Have no answer really. I can only think they have changed their rules so that you have to have an account in the Phils with a Phils Bank as BPI Europes prime function is to act as a remitter of funds TO the Phils.
According to their FAQ you can withdraw cash over the counter in Earls Court or transfer money to a UK bank as well as sending to the Phils. I notice the OP opened their account 3 years ago and told BPI she was thinking of moving permanently. wonder if this has something to do with it? If they knew you were only using a tourist visa then perhaps their rules do not allow an account under the money laundering rules. Suggest you try another Phils Bank such as BDO Remit (UK) ltd. Interestingly i've just looked on the BDO Website https://www.bdo.com.ph/personal/remittance-services
and slightly hidden away it does say you need an account here to open an account with BDO in the Strand, so it's possible the laws have changed?
I've looked at Metrobank, PNB and Allied Bank who all have offices in UK. It seems from what I read that like BPI they are primarily remittance services for OFWs and other Filipino citizens overseas. for these folks they all infer they can open a peso account here for Filipino citizens. Nowhere can I find how an expat goes about it!Fishooks! Looks like it's now difficult as an expat to open a UK account without a corresponding account here......
Maybe I'm completely wrong, not surprising due to my decrepitude!

mikemike

'Maybe I'm completely wrong, not surprising due to my decrepitude!'

No, you are correct lol

BPI had to close the Italian branch due to money laundering concerns. Following that experience they have tightened up. UK ATM card are accepted at ATMs in the Philippines provided they are linked, Cirrus etc . Yes there will be charges and the exchange rate may not be so good.

Just one of the costs of travelling etc

I am thinking of opening a BDO facility as well. just in case BPI decide to do an 'Italian Job' in London.