Soon to take the plunge

Old Aug 26th 2019, 9:45 am
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Smile Soon to take the plunge

Welcome in Everyone...
If all goes according to plan, I'll become an ex-pat by the end of September/early October because of my intention in joining my wife of 8 years in her home city in Metro Manila. I won't bore everyone with a full relationship history (too much to type), but we got married in PH on my third visit there, then tried/failed to get her a visa to join me here in Uk. Needless to say, over the course of our marriage we've had many struggles because of being forced to live apart, and I haven't see her for 4 years, but finally, I'm moving to live with her before it's too late.
I'll shortly be transferring around £60k that was given to me by my dad, to an acct she will open with BPI, which I know is a lot of money in PH and I'll live with my wife and 13-year-old daughter in her mother's house (she lives, works in Uk). Her mother and sister who also is over here working, as a nurse, send money to my wife as she earns just a small amount doing whatever she can online whilst looking after her child who she enrols in a nearby private school as she wants her to have the best education possible. The child's father is long off the scene and I have never met him.
I don't have any transferable skills that could enable me to work for an employer over there (my job is shop work), so I am also starting to look at some options for an income via the internet because that money won 't last forever of course, but it's not the only money I will have at my disposal because I have savings but those are strictly to be used as a last resort. She has suggested a food cart but everyone sells foods over there, and we'd have plenty of competition even if we put it outside her house. I'll inherit my father's house when he passes away and whatever savings he has left (I have no siblings), and he is waiting for a copy of his will and the deeds to the house to be sent from a solicitor who moved away from the city in NW England where we live, before he can then start the process of transferring the house in my name if that is what the local solicitor he will use advises? Anyway, I'm sure he isn't about to die and I'm not planning on going to Ph and remaining there forever without ever coming back home even for just a visit. My wife has never been here even as a tourist, but that's another story.

Thanks for reading, and I Welcome any advice and suggestions etc I would also like to meet up with any Brits (preferably) who might just happen to use this site and live in the same area, but for now I won't specify exactly where in The Metro that is.

Last edited by Crystal Dale; Aug 26th 2019 at 9:50 am.
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Old Aug 26th 2019, 12:29 pm
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Thumbs down Re: Soon to take the plunge

Thank You to the member who sent me a PM about employment but unfortunately, I'm not able to see it yet because the Admins block the use of private messages until a new member has three posts, apparently.

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Old Aug 26th 2019, 12:32 pm
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Default Re: Soon to take the plunge

Originally Posted by Crystal Dale View Post
Welcome in Everyone...
If all goes according to plan, I'll become an ex-pat by the end of September/early October because of my intention in joining my wife of 8 years in her home city in Metro Manila. I won't bore everyone with a full relationship history (too much to type), but we got married in PH on my third visit there, then tried/failed to get her a visa to join me here in Uk. Needless to say, over the course of our marriage we've had many struggles because of being forced to live apart, and I haven't see her for 4 years, but finally, I'm moving to live with her before it's too late.
I'll shortly be transferring around £60k that was given to me by my dad, to an acct she will open with BPI, which I know is a lot of money in PH and I'll live with my wife and 13-year-old daughter in her mother's house (she lives, works in Uk). Her mother and sister who also is over here working, as a nurse, send money to my wife as she earns just a small amount doing whatever she can online whilst looking after her child who she enrols in a nearby private school as she wants her to have the best education possible. The child's father is long off the scene and I have never met him.
I don't have any transferable skills that could enable me to work for an employer over there (my job is shop work), so I am also starting to look at some options for an income via the internet because that money won 't last forever of course, but it's not the only money I will have at my disposal because I have savings but those are strictly to be used as a last resort. She has suggested a food cart but everyone sells foods over there, and we'd have plenty of competition even if we put it outside her house. I'll inherit my father's house when he passes away and whatever savings he has left (I have no siblings), and he is waiting for a copy of his will and the deeds to the house to be sent from a solicitor who moved away from the city in NW England where we live, before he can then start the process of transferring the house in my name if that is what the local solicitor he will use advises? Anyway, I'm sure he isn't about to die and I'm not planning on going to Ph and remaining there forever without ever coming back home even for just a visit. My wife has never been here even as a tourist, but that's another story.

Thanks for reading, and I Welcome any advice and suggestions etc I would also like to meet up with any Brits (preferably) who might just happen to use this site and live in the same area, but for now I won't specify exactly where in The Metro that is.
Hi Dale, welcome to the site. I'm sure that others will chip in with many words of advice, my only suggestion is that you do not transfer all of your £60K from UK to Philippines. Not just yet at any rate. Move here, settle down, form some opinions, formulate a plan, and if it all become crystal clear you may consider moving SOME of your funds. The exchange rate for the £ is not good right now and it is entirely uncertain what will happen n the light of the Brexit situation. If it were me I would transfer only enough funds for 2 to 3 months..
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Old Aug 26th 2019, 12:38 pm
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Default Re: Soon to take the plunge

The mods may relent and you will see the pms or just post a couple of more times

I agree david leave your funds at home or you will be another foreign statistic, there are so many more here than those who succeed here. Blind optimism will soon empty your pocket. There is no safety net here.
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Old Aug 26th 2019, 12:40 pm
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Default Re: Soon to take the plunge

CD....

First welcome to the forum where you will find plenty of opinions and more importantly ....informed advice.

I will comment on a few things that you have posted:

Opening a BPI account on your behalf by your wife. Unless its a joint account (which I advise against at this time), I understand that to open a BPI account in the Philippines, your presence will be required and even then you will need an ACR card with your tourist visa as a minimum requirement. Like most institutions here, they seem to make up their own rules but officially I believe the criteria is that you should be a permanent resident with an SRRV or 13A visa. There must be plenty of BPI's Branches in Makati, so it will be a question of visiting a few of them. If you are thinking about a joint account, I most certainly would not drop all of the 60k into it. Better to keep it in the UK where its safe and transfer monthly for your needs.

Jobs... The only on-line openings I can think of is teaching English on line. Working in the Philippines is strictly forbidden except under very special circumstances. I certainly would not go into business in the Philippines in a serious way. Yes.....you can end up being a millionaire. But you have to start with 2 million first....

I wish you well and look forward to see how it all works out.

Regards...
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Old Aug 26th 2019, 12:42 pm
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Default Re: Soon to take the plunge

HI, Thanks David. Yes, I'm hopeful of receiving many words of wisdom and actually I hadn't considered the exchange rate even though I know it's not good currently, but with regards to Brexit, I'm not worried either way nor will I let it influence my decisions because the whole thing is a mess and so 'up in the air' at the moment. I like the crystal clear analogy and crystal was my wife's username on the chat site we met on, and my name is Dale. The problem with only transferring funds sufficient for a short time, is that she will see that as a negative with regards to me being 100% certain of making PH my new permanent home? However, I will certainly tell her what you have suggested, and take it from there. Thanks again.
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Old Aug 26th 2019, 12:50 pm
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Default Re: Soon to take the plunge

Thanks Philosophical for the Welcome and advice on financial matters. She already inquired at her local BPi who confirmed that I need to be present for a joint acct, therefore, I'm happy for her to just open one in her name and I can, of course, monitor any acct activity when she has registered for online banking with them. She suggested English online teaching but I've read that a qualification such as a BA is the minimum requirement and that the interview is very challenging.
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Old Aug 26th 2019, 12:52 pm
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Originally Posted by Crystal Dale View Post
HI, Thanks David. Yes, I'm hopeful of receiving many words of wisdom and actually I hadn't considered the exchange rate even though I know it's not good currently, but with regards to Brexit, I'm not worried either way nor will I let it influence my decisions because the whole thing is a mess and so 'up in the air' at the moment. I like the crystal clear analogy and crystal was my wife's username on the chat site we met on, and my name is Dale. The problem with only transferring funds sufficient for a short time, is that she will see that as a negative with regards to me being 100% certain of making PH my new permanent home? However, I will certainly tell her what you have suggested, and take it from there. Thanks again.
If your. wife is against you keeping the bulk of your .money in the UK that's an even bigger reason to do it. Another and the reason most keep there money in their home country is that you are only covered for a few thousand pounds against bank failure in the Philippines.
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Old Aug 26th 2019, 12:54 pm
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Default Re: Soon to take the plunge

thanks Mike, yes private messages should be open to me now. I know its an easy thing to say, but I don't plan to be another foreign statistic and I trust my wife explicitly. Her Filipino sister/mother working here and the fact that we have a house that is privately owned and rent free is a good start.
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Old Aug 26th 2019, 1:01 pm
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Default Re: Soon to take the plunge

I don't like the sound of bank failure but I suppose it's possible. I'm chatting with her now online and it seems she thought it was 60k pesos that I was planning to transfer rather than £60k. I'm sure when that is clear to her and when she/we research about how much foreign money is covered, then she will understand if I then say I won't put it all in BPI in one go. HOwever, if I just transfer an amount each month to cover our basic needs, does that mean I will be charged for it everytime, and just a small amount in a bank there will mean we won't have the large initial investment needed to start a business? Thanks.
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Old Aug 26th 2019, 6:13 pm
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Default Re: Soon to take the plunge

that £60k earned just over £100 interest in 12 months over here, which is pitiful but I don't suppose there is a bank acct in PH that would pay a good rate of interest on that amount? My wife has calculated about 25k/mth for the three of us to live reasonably comfortably, as she has just informed me that her mother and sister would stop sending her money (for utility bills and anything essential that her daughter needs), if I moved over there, and would ask me to pay the 20k property tax that is still owed on the house, so that I can live there rent-free.
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Old Aug 26th 2019, 6:17 pm
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Default Re: Soon to take the plunge

Wow. So full of love and hope for the future. But please take the advice of others on here who have a little more Philippine experience. It's a lovely country full of lovely people. But money is the route of all evil. Keep your money in the UK send dare I suggest 1k a month initially you can always send more but can never get it back. When you are established in Manila have your own bank account have a year under your belt. Get a taste for your new life then you can make a bigger commitment. I wish you good luck.
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Old Aug 26th 2019, 6:43 pm
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Originally Posted by Crystal Dale View Post
I don't like the sound of bank failure but I suppose it's possible. I'm chatting with her now online and it seems she thought it was 60k pesos that I was planning to transfer rather than £60k. I'm sure when that is clear to her and when she/we research about how much foreign money is covered, then she will understand if I then say I won't put it all in BPI in one go. HOwever, if I just transfer an amount each month to cover our basic needs, does that mean I will be charged for it everytime, and just a small amount in a bank there will mean we won't have the large initial investment needed to start a business? Thanks.
The cover is 250k per person or 500k for a joint account, that's what £8000ish, UK 85k (5.1M pesos). And it take forever to get the payout.
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Old Aug 27th 2019, 12:13 am
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Default Re: Soon to take the plunge

I echo all that has been written regarding sending money. There are a number of efficient and competitive methods of transferring money which I advise that you research. Try looking at Transferwise and similar.
When you arrive and have settled PM me as I live on the Eastern fringe of MM.

Good luck
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Old Aug 27th 2019, 4:48 am
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Default Re: Soon to take the plunge

Originally Posted by Gazza-d View Post
The cover is 250k per person or 500k for a joint account, that's what £8000ish, UK 85k (5.1M pesos). And it take forever to get the payout.
''

PDIC
pays deposit insurance on all valid deposits up to Maximum Deposit Insurance Coverage (MIDC) of P500,000 per depositor of a closed bank. That amount includes accounts “maintained in the same right and capacity for a depositor's benefit” whether it's under his own name or the name of others.

that is per account be it sole or joint but not multiple accounts in the same institution. So you could have 10 bank accounts with different banks with 500,000 PDIC cover in each bank,
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