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Philippines bank account for a condo owner

Philippines bank account for a condo owner

Old Dec 22nd 2019, 12:21 am
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Default Philippines bank account for a condo owner

If I purchase a condo for seasonal living, i.e during British Winters, is it possible to obtain a Philippines bank account based on my being a condo owner. I doubt I will reverie an ACR card as my visas would never exceed 6 months before my return each year for English summers. I would prefer a Philippines bank account to manage any airbnb condo income and maintenance costs during my absence

Info and Advice welcome.
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Old Dec 22nd 2019, 8:41 am
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Default Re: Philippines bank account for a condo owner

My understanding is that when a visitor applies for a second extension to a Visitors Visa there is a $50 ACR Card fee and that the card valid for 12 months can be collected a few days later.
I stand to be corrected, but that was my experience a few years ago.

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Old Dec 22nd 2019, 9:30 am
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Default Re: Philippines bank account for a condo owner

Assuming you are on a tourist visa you will be forced to have and ACR card. Show your prospective bank your condo paperwork and be prepared to try several banks until one comes up trumps, even different branches of the same bank.
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Old Dec 22nd 2019, 12:53 pm
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Default Re: Philippines bank account for a condo owner

I concur with all of the above. The rules regarding obtaining a bank account changed about a year or so ago. Then you could only officially open an account on production of an ACR Card on a tourist visa. Now, officially you cannot open an account on a Tourist Visa, however as has been previously mentioned, some banks will waive this rule. Shopping around is the answer or unless you have a contact with influence.

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Old Dec 22nd 2019, 4:02 pm
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Default Re: Philippines bank account for a condo owner

Originally Posted by Philosophical 11
I concur with all of the above. The rules regarding obtaining a bank account changed about a year or so ago. Then you could only officially open an account on production of an ACR Card on a tourist visa. Now, officially you cannot open an account on a Tourist Visa, however as has been previously mentioned, some banks will waive this rule. Shopping around is the answer or unless you have a contact with influence.

Regards
I would suggest you try Bank Of Commerce. Had a friend who did the "shopping around " and he was able to secure from BOC. You might also want to be well prepared
Originally Posted by maninthehan
If it has all been earned legit and taxes paid etc., then he should able to do it as a bank transfer from one of the main Chinese banks to his in the UK. Be a it of paper work but i'm sure his school will help.

I'm fairly sure he could change to pounds and then carry it as cash as long as he can account for it in the same was as above - might be a hassle declaring cash on the way out though. The no need to declare amount is 5000 USD.
with documentation that shows your name and address in Philippines.. a phone statement/subscription showing your address might work best if you dont have an electricty or other such payment that indicates your address. Seems they are just interested to see your name and address on a bill of whatever kind.

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