Brit with bpi account
#31
Re: Brit with bpi account
I must be missing something in this thread. I don't see what is the advantage in having a BPI account in London, and making 2 transfers to get your money to Philippines, one from your UK bank to BPI London and a second from BPI London to your account in Philippines. Why not just transfer directly from your UK account to any account you have in Philippines. That way you're not limited to banking with BPI and only one transfer involved.
#32
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Joined: Nov 2012
Posts: 1,643
Re: Brit with bpi account
If i had my time again I would have retained my UK account but still had my income directed into the BOI account as it is cheap to transfer, no ATM fees at this end etc, and great exchange rate. 5£ for upto £1000 transfer and increase at 1£ per thousand £ for fees so that £5000 transfer is 9£ etc. Over £10,000 transfer needs to be booked and you will get a better rate
#33
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Joined: Feb 2014
Location: Marikina Philippines
Posts: 890
Re: Brit with bpi account
I have UK and Phils bank accounts. I choose to use a third party to transfer monthly funds. Total cost per transaction 200PHP. Exchange rate 1% below published rates as shown in the financial pages.
#34
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Joined: Jun 2014
Location: Philippines
Posts: 1,854
Re: Brit with bpi account
David Mashael,
You ask why people make two transfers i.e. one from UK Bank Acct to BPI (Europe) and then to BPI here. Prior to moving here, I wanted to use my UK bank (Lloyds) to do exactly that. For a long convoluted reason for which I can no longer remember, it was too difficult for them to arrange.
Regards
You ask why people make two transfers i.e. one from UK Bank Acct to BPI (Europe) and then to BPI here. Prior to moving here, I wanted to use my UK bank (Lloyds) to do exactly that. For a long convoluted reason for which I can no longer remember, it was too difficult for them to arrange.
Regards
#35
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Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: Brit with bpi account
I must be missing something in this thread. I don't see what is the advantage in having a BPI account in London, and making 2 transfers to get your money to Philippines, one from your UK bank to BPI London and a second from BPI London to your account in Philippines. Why not just transfer directly from your UK account to any account you have in Philippines. That way you're not limited to banking with BPI and only one transfer involved.
#36
Forum Regular
Thread Starter
Joined: Feb 2014
Posts: 33
Re: Brit with bpi account
David Mashael,
You ask why people make two transfers i.e. one from UK Bank Acct to BPI (Europe) and then to BPI here. Prior to moving here, I wanted to use my UK bank (Lloyds) to do exactly that. For a long convoluted reason for which I can no longer remember, it was too difficult for them to arrange.
Regards
You ask why people make two transfers i.e. one from UK Bank Acct to BPI (Europe) and then to BPI here. Prior to moving here, I wanted to use my UK bank (Lloyds) to do exactly that. For a long convoluted reason for which I can no longer remember, it was too difficult for them to arrange.
Regards
#37
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Joined: Nov 2012
Posts: 1,643
Re: Brit with bpi account
Opening accounts is not a problem for residents. Try opening accounts in the UK when you are not a resident, just a tourist!!
Mine was easy to do as I am a resident as was opening the account in the UK. My biggest mistake was to close down my UK big four accounts as I never believed i would need them again. I did not want to pay bank charges on Uk accounts and credit cards so thought it was a smart move, oh well!!
Mine was easy to do as I am a resident as was opening the account in the UK. My biggest mistake was to close down my UK big four accounts as I never believed i would need them again. I did not want to pay bank charges on Uk accounts and credit cards so thought it was a smart move, oh well!!
#38
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Joined: Dec 2013
Location: Consolacion,Cebu
Posts: 1,935
Re: Brit with bpi account
I kept my UK account as I need to make payments from and to it now and then. It's no problem to transfer to BPI Europe online. Takes a couple of minutes and shows in BPI Europe within a few hours - unless its weekend or Bank Holiday. Can then transfer to my BPI account here when it suits, depending on exchange rate and takes seconds to show here.
#39
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Joined: Feb 2014
Location: Marikina Philippines
Posts: 890
Re: Brit with bpi account
Stacy 123 it's only a ball ache if you let it be. Understand the rules and all is Hunky Dory
#40
Just Joined
Joined: Apr 2018
Location: Makati City, Philippines
Posts: 2
Re: Brit with bpi account
I live in Manila and I have local BPI accounts here. I also opened an account with BPI Europe in London and use that to transfer money from the UK.
The process is:
- Transfer money from my UK Halifax account account to my BPI Europe account. This is easily done with Halifax Online Banking using a Faster Payments transfer.
- Log on to BPI Express Online.
- Go to the menu section "Foreign Transfer & Exchange" and choose "From BPI Europe".
- Choose the amount to be transferred and the account to which it should go to.
- The exchange rate is confirmed and the transfer is completed immediately.
BPI charge £5 for up to £1,000. Each additional £1,000 costs £1 more. The exchange rate is excellent. Better than any money changer or remittance service I've found, and almost the same as the wholesale interbank rate.
The process is:
- Transfer money from my UK Halifax account account to my BPI Europe account. This is easily done with Halifax Online Banking using a Faster Payments transfer.
- Log on to BPI Express Online.
- Go to the menu section "Foreign Transfer & Exchange" and choose "From BPI Europe".
- Choose the amount to be transferred and the account to which it should go to.
- The exchange rate is confirmed and the transfer is completed immediately.
BPI charge £5 for up to £1,000. Each additional £1,000 costs £1 more. The exchange rate is excellent. Better than any money changer or remittance service I've found, and almost the same as the wholesale interbank rate.
#41
Re: Brit with bpi account
Sorry that you feel Philippines is a balls ache. Personally I love living here. Never met more friendly, helpful people. It's always amazed me, how it is usually the people that have the least that are often the most generous.
#42
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Joined: Feb 2014
Location: Marikina Philippines
Posts: 890
Re: Brit with bpi account
Agreed with the people with the least are the most generous. I've experienced in Phils, W Africa, Pakistan and Kazakhstan. Sadly not Qatar, I wonder why?
#43
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Joined: Jun 2014
Location: Philippines
Posts: 1,854
Re: Brit with bpi account
Greetings!
Like most Brits, I transfer my money from my UK Bank to BPI (Europe) and thence to a BPI branch here in Phils. Once set up, it is quick, easy and inexpensive.
However, it appears that BPI (Europe) are going to double the minimum transfer charge from £5 to £10 commencing 1 Sep. Does anyone have an alternative method of transferring funds from the UK?
Regards
Like most Brits, I transfer my money from my UK Bank to BPI (Europe) and thence to a BPI branch here in Phils. Once set up, it is quick, easy and inexpensive.
However, it appears that BPI (Europe) are going to double the minimum transfer charge from £5 to £10 commencing 1 Sep. Does anyone have an alternative method of transferring funds from the UK?
Regards
#44
BE Forum Addict
Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: Brit with bpi account
Greetings!
Like most Brits, I transfer my money from my UK Bank to BPI (Europe) and thence to a BPI branch here in Phils. Once set up, it is quick, easy and inexpensive.
However, it appears that BPI (Europe) are going to double the minimum transfer charge from £5 to £10 commencing 1 Sep. Does anyone have an alternative method of transferring funds from the UK?
Regards
Like most Brits, I transfer my money from my UK Bank to BPI (Europe) and thence to a BPI branch here in Phils. Once set up, it is quick, easy and inexpensive.
However, it appears that BPI (Europe) are going to double the minimum transfer charge from £5 to £10 commencing 1 Sep. Does anyone have an alternative method of transferring funds from the UK?
Regards
#45
BE Forum Addict
Joined: Nov 2012
Posts: 1,643
Re: Brit with bpi account
https://www.globalwebpay.com/send-money-to-Philippines.aspx
https://transferwise.com/gb/send-money/send-money-to-philippines
What you save on transaction costs, you may lose on nasty exchange rates
As for BPI costs
Send Bi monthly as it still costs 10£ instead of 2 x 5£ for monthly if under £ per month1000
https://transferwise.com/gb/send-money/send-money-to-philippines
What you save on transaction costs, you may lose on nasty exchange rates
As for BPI costs
Send Bi monthly as it still costs 10£ instead of 2 x 5£ for monthly if under £ per month1000
Last edited by mikemike; Aug 11th 2018 at 4:58 am.