Suggestions for a pre paid Bank card for PI use

[j N j 50]

13 hours ago, fkruege said:

Charles Schwab bank offers a debit card that you can use internationally and you don't pay any ATM fees or foreign transaction fees.  At the end of the month, they refund any ATM fees charged.  It saves a lot of fees if you are overseas for extended amount of time.

 

You just have to open a brokerage account and then a investor checking account.  

Thanks for the info, I'll have to look into this..

[dekedwin 52]

BPI and Wells Fargo have an agreement, and you can get Express Sends to bring money from your Wells Fargo Bank Account  and then draw that money out in pesos from the BPI.

[Hank_ 9,171]

What is the cost for that?

[dekedwin 52]

They charge a fee of $5.00 and there is a limit on the amount you can express send at one time, and I don't remember what the limit is. The Wells Fargo Bank also takes a little of the exchange, gives you a little less on the exchange to make more money for the bank.

 

[Loida and Ed 11]

Having Been here for a few years doing some livelihood projects, etc, I think I can offer the following:

 

Wells Fargo can send directly to BPI ( But I use BDO ). You need feet on the ground in the USA to initiate the first sending ( a $1 test). You will need bank account name, number, and bank swift code, etc. Afterwards, just log onto wells fargo and send to another account ( internationally)... No escaping the fees like before, tho I don't know why.

 

If your here for awhile and want some US Dollars... You can go to Bank of Commerce... and open a dollar account in your name ( and a peso account if you desire)... Put in a few hundred dollars and you should be good...

Now heres where its nice to do this... If your going to be here for awhile, use your wells fargo, checkbook and write a check to yourself to deposit into the account. You have to wait 21 working days... (YES 21 work days like Monday thru Friday..plus a few extra maybe), but you get US dollars,,,, and Zero costs for transferring.

 

Careful you don't send too much... The IRS has a financial cap that your allowed for international accounts, without foreign banks being required by international law for reporting back to them and having to pay very high penalties ( horror stories abound) ... but... Its a money laundering prevention kinda thing... But all in all,,, you get financials in US Dollars, and no fees just a long wait)

 

Happy Banking

[Hank_ 9,171]

On 5/1/2017 at 10:01 PM, dekedwin said:

They charge a fee of $5.00 and there is a limit on the amount you can express send at one time, and I don't remember what the limit is. The Wells Fargo Bank also takes a little of the exchange, gives you a little less on the exchange to make more money for the bank.

 

That isn't much of a deal with a $5 fee and an exchange rate cut.   I like the depositing directly into the bank idea, but that can be done with most any of the transfer companies.

 

XOOM has a $5 fee and exchange rate cut

 

REMITLY has no fee and an exchange rate cut.

 

The U.S. dollar account idea is good,