One thing you never mention is expensive jewelry. Maybe you shouldn't wear it, but if you have it with you it can be pawned in an emergency. Every place in the Philippines has pawn shops, even small barangays sometimes. It's a good way to get a quick loan, and it can be cheaper than credit card cash from an ATM. Just pay it off as soon as you can.
These are good tips for managing your money when traveling Rod very important indeed. Good to know that there are some new malls opening up there I'd like to go visit Cebu sometime this year. Take care Rod 😎😎👍👍
Thanks Mike. Yes, the 3rd CCLEX bridge from SRP to Cordova, Mactan has been open for several months now. It is a toll road and you are supposed to have a RFID prepaid device to pay the toll, 60-90 pesos for most vehicles.
Good overview Wells Fargo hasn't accepted expats as new brokerage clients since January 19, 2021. When we retire do we need to maintain a address in USA? Not many channels mention this stuff.
Hey Rod ..great vlog as always..I will be In Cebu soon ..I been watching your vlogs for years .so hope to connect with you have lunch all the best from Vancouver. Canada 🇨🇦
I am a compulsive planner when I travel, I have everything planned out. The only time I feel any type of anxiety is when I approach an ATM in a foreign country. I can't control that situation. I carry 3 debit cards with me all fully loaded , 2 major credit cards..I have never had any problems.
Good to hear that your are prepared and still have not had any problems MrLolligagger. I have not lost a debit card but some machines are very slow in giving it back causing some anxiety.
I use Wise and Remitly to transfer money from my own country, but I have had issues with both of them in the past. Luckily, not both at the same time. As a further back up, I keep 6 months of spending money (in peso's) in a Philippine bank. As a tourist , some banks, eg PNB, will allow you to open a local bank account with just an iACR card.
Using Remitly to send money to my Gcash account, I had a call from Remitly asking why I was sending money to Gcash in the PH. I told the rep that I was using a VPN to the US. She said to turn off the VPN so they can see the IP address in the PH to send the cash. Had no issues since.
@James Lonergan I often use VPN also James and only occasionally does the company know or care that I am using it, but I have had a couple of instances where they noted the VPN and I had to turn it off.
I have 5 different credit cards from different banks and for emergencies a money belt in which I have 1200 Euro individually wrapped in cling film and I have wise, where I can send money to a friend very quickly
Good video Rod. Just a warning for everyone, when Western Union blacklists you, they can blacklist you with every money transfer business in the world. Meaning you can't just go to Wise or World Remit. It happened to me and remains to this day because I won't give them Total unrestricted access to my financial information.
@@LordTaylor007 I just read a long page on Quora detailing people's problems with WU but the short answer is No. I can tell you that they literally wanted total access to my financial information in exchange for them to just consider unblocking me. I was only sending relatively small sums once a month, small enough that it would take forever to launder a significant amount of money. You are perfectly welcome to disbelieve me. If it bites you in the rear after having been warned? I will feel I did my part and I will have that warm fuzzy feeling inside. Wu wanted all my banking records. Nobody's getting that. I'm in oil and gas and it's a secretive business. What I pay for something, apart from western union is none of their business. That's why contracts start $10 or more, cash in hand, the receipt of which is duly acknowledged, so someone else doesn't come in and undercut you by $100.
You can bring in US $10,000 equivalent without "declaring" it is my understanding. Anything above that has to be declared and you should have some proof that it is legally attained.....whatever that entails, or it could be seized and is often seized in the USA from people flying there.
@@AmazingPhilippines1 Thanks Rod, I am looking at visiting the Philippines. Malaysia and Thailand to determine were to retire so will be there for about 2 months. Cash is king so want to make sure I am covered during the visit. I will be in Cebu so I will let you know the dates and perhaps I can buy you a cup of coffee during the visit, love the information you are supplying, direct and to the point, thanks.
Ayala Mall has several money exchanges. The one inside Rustan's supermarket, grocery is said to have the best rates. I think it is about 54.7:$1 today. The street exchanges you will find offer low rates Carl.
I have a US Dollar account with BDO and transfer money over from my US Credit Union. If needed, they have a credit union branch in Guam and Singapore. I agree, always have a plan B and C.
@@AmazingPhilippines1 I moved here in 2019 and so far it has been painless. I heard from a couple of guys that the ATM ate their card. Being retired military I am able to get mail here through the Retired Activities Office (RAO) which makes getting a replacement credit card or ATM card a fairly easy process. I always keep $800 usd on hand for an emergency.
Western Union blacklisted me with every single money moving service in the world, you name it, I'm blacklisted with it, because I wouldn't let them have ALL of my financial information. I wouldn't give it. I had been a WU customer for over 10 years. Luckily, I do pretty well with my bank and I get free wires there. My wife has a dollar account and I can trust her. You can only depend on WU until suddenly, you can't.
Another tip, only use your ATM card in a well guarded ATM. Never go into the bank to get a transfer, they are a problem. When the ATM fails, do not try more than two times in 24 hours. The bank at home is counting those swipes and and can decide automatically there is suspicious activity and freeze the account. That has happened to me. My bank just says it is automatic process. I have been here nine years, I never had a problem with the ATM machines. But watch out for bank employees.
I always had major dramas too since the 80s using visa cards and being rejected access to my accounts while in Asia till I was blue in the face..So call me an idiot but now for short visits up to 10 weeks I ALWAYS take cool cash with me in my money belt..Yes it's risky but a whole world better than no cash at all.
Rod, it seem that you're always out and about in Cebu. If you have time and could do a video on storage spaces for rent, I see some online for Cebu City and there are quite a few of them. It would be nice if you could get the sizes and prices for them.
Interesting topic Jon. I have inquired at a couple of them and they were always full. I had a friend search a long time before he finally found a unit over on Mactan, but I will look into it also. Might be a good business idea.
I don't think the Philippines goes in much for storage businesses. Partly because if it weren't climate controlled you would probably return to a big pile of rust or mold. Most foreigners I have known either knew someone they trusted to watch their stuff or sold it cheap or dear. Years ago I gave a jeep away because I wanted to use it until the last day. I did the legal transfer and deed of sale the week before I left. It is what it is.
Yes, you can send money to yourself. I have done it using Xoom which is owned by Paypal and a couple of other money transfer services. Some give a better exchange rate or lower fees so check out their latest promos. Western Union seems to be the most difficult to deal with I keep hearing.
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One thing you never mention is expensive jewelry. Maybe you shouldn't wear it, but if you have it with you it can be pawned in an emergency. Every place in the Philippines has pawn shops, even small barangays sometimes. It's a good way to get a quick loan, and it can be cheaper than credit card cash from an ATM. Just pay it off as soon as you can.
Great point John! I personally do not have any watches or jewelry but pawning is a major thing here.
Another great video. Informative and entertaining.Thanks.
Glad you enjoyed it.
These are good tips for managing your money when traveling Rod very important indeed. Good to know that there are some new malls opening up there I'd like to go visit Cebu sometime this year. Take care Rod 😎😎👍👍
Thanks. I am wondering how many malls Cebu City metro can support long term.
@@AmazingPhilippines1 Yeah Cebu might need more tourists to keep those malls in business
In my opinion, those with money are the ones that know how to resist, frivolous spending. Basically they are able to say no.
True. The Philippines is the last place you wouldn't want to run out of money in.
Very nice video! Did they ever finish the new bridge to Mactan?
Thanks Mike. Yes, the 3rd CCLEX bridge from SRP to Cordova, Mactan has been open for several months now. It is a toll road and you are supposed to have a RFID prepaid device to pay the toll, 60-90 pesos for most vehicles.
Great update ron thanks for sharing
You are very welcome!
Good overview
Wells Fargo hasn't accepted expats as new brokerage clients since January 19, 2021.
When we retire do we need to maintain a address in USA?
Not many channels mention this stuff.
Good question and I do not know the answer Hong Island. I have heard that Schwab is tightening up their system also but not sure of the details.
Hey Rod ..great vlog as always..I will be In Cebu soon ..I been watching your vlogs for years .so hope to connect with you have lunch all the best from Vancouver. Canada 🇨🇦
Cool! Thanks Don. My email in AmazingPhilippinesdoitnow@gmail.com and that is the best way to stay in touch.
Airport has money changers and in Cebu the Ayala mall on the second floor near the elevators has money changers.
Yes, there are several there Joe. I have heard that the one in Rustans supermarket has the best rates.
I am a compulsive planner when I travel, I have everything planned out. The only time I feel any type of anxiety is when I approach an ATM in a foreign country. I can't control that situation. I carry 3 debit cards with me all fully loaded , 2 major credit cards..I have never had any problems.
Good to hear that your are prepared and still have not had any problems MrLolligagger. I have not lost a debit card but some machines are very slow in giving it back causing some anxiety.
I use Wise and Remitly to transfer money from my own country, but I have had issues with both of them in the past. Luckily, not both at the same time. As a further back up, I keep 6 months of spending money (in peso's) in a Philippine bank. As a tourist , some banks, eg PNB, will allow you to open a local bank account with just an iACR card.
Using Remitly to send money to my Gcash account, I had a call from Remitly asking why I was sending money to Gcash in the PH. I told the rep that I was using a VPN to the US. She said to turn off the VPN so they can see the IP address in the PH to send the cash. Had no issues since.
Good plan Thai Fly. There can and will be issues sooner or later.
@James Lonergan I often use VPN also James and only occasionally does the company know or care that I am using it,
but I have had a couple of instances where they noted the VPN and I had to turn it off.
Thank you Rod mate, good sound advice. Btw, are you good for a loan when i return, LOL. Just kidding Rod.
LOL! NO BUDGET Bob. I have learned my lesson early on about loans....gifts...here Bob.
I have 5 different credit cards from different banks and for emergencies a money belt in which I have 1200 Euro
individually wrapped in cling film and I have wise, where I can send money to a friend very quickly
Good plan Rudolf. Having cash available is very important.
Good video Rod. Just a warning for everyone, when Western Union blacklists you, they can blacklist you with every money transfer business in the world. Meaning you can't just go to Wise or World Remit. It happened to me and remains to this day because I won't give them Total unrestricted access to my financial information.
Good point Robert. I have heard that before also.
Very interesting. Do you have any sources that you can site for this type of blocking?
@@LordTaylor007 I just read a long page on Quora detailing people's problems with WU but the short answer is No. I can tell you that they literally wanted total access to my financial information in exchange for them to just consider unblocking me. I was only sending relatively small sums once a month, small enough that it would take forever to launder a significant amount of money. You are perfectly welcome to disbelieve me. If it bites you in the rear after having been warned? I will feel I did my part and I will have that warm fuzzy feeling inside. Wu wanted all my banking records. Nobody's getting that. I'm in oil and gas and it's a secretive business. What I pay for something, apart from western union is none of their business. That's why contracts start $10 or more, cash in hand, the receipt of which is duly acknowledged, so someone else doesn't come in and undercut you by $100.
Everybody loves cash. Hassle free just pay cash!
Hi Rod, is there a limit on how much cash you can travel into the Philippines with? The US is $10,00.00 because of the drug trafficker's.
You can bring in US $10,000 equivalent without "declaring" it is my understanding. Anything above that has to be declared and you should have some proof that it is legally attained.....whatever that entails, or it could be seized and is often seized in the USA from people flying there.
@@AmazingPhilippines1 Thanks Rod, I am looking at visiting the Philippines. Malaysia and Thailand to determine were to retire so will be there for about 2 months. Cash is king so want to make sure I am covered during the visit. I will be in Cebu so I will let you know the dates and perhaps I can buy you a cup of coffee during the visit, love the information you are supplying, direct and to the point, thanks.
Can you make videos about dental care and denture prices in the Philippines?. Or you might have already .Thanks.
Here is a playlist: ua-cam.com/play/PLFtm_2xQIxfZfHgSAp_Ilzfj_0qBs0Q3D.html
@@AmazingPhilippines1 Thank You very much. Greatly Appreciated.
Where can money be exchanged in Cebu City? New US dollars.
I got Philippines Pesos from a local bank to start my trip. 49 to a dollar.
Ayala Mall has several money exchanges. The one inside Rustan's supermarket, grocery is said to have the best rates. I think it is about 54.7:$1 today. The street exchanges you will find offer low rates Carl.
I have a US Dollar account with BDO and transfer money over from my US Credit Union. If needed, they have a credit union branch in Guam and Singapore. I agree, always have a plan B and C.
I am a bit surprised at how many of these type of money problems I hear Kenny....but not really I guess considering all of the potential for problems.
@@AmazingPhilippines1 I moved here in 2019 and so far it has been painless. I heard from a couple of guys that the ATM ate their card. Being retired military I am able to get mail here through the Retired Activities Office (RAO) which makes getting a replacement credit card or ATM card a fairly easy process. I always keep $800 usd on hand for an emergency.
He is a tip never use your ATM card form your home county. Try to use Westen Union.
I used WU years ago but they closed my account and I have heard that from many Charles. Lots of theft so they close any that look suspicious I guess.
Western Union blacklisted me with every single money moving service in the world, you name it, I'm blacklisted with it, because I wouldn't let them have ALL of my financial information. I wouldn't give it. I had been a WU customer for over 10 years. Luckily, I do pretty well with my bank and I get free wires there. My wife has a dollar account and I can trust her. You can only depend on WU until suddenly, you can't.
Another tip, only use your ATM card in a well guarded ATM. Never go into the bank to get a transfer, they are a problem. When the ATM fails, do not try more than two times in 24 hours. The bank at home is counting those swipes and and can decide automatically there is suspicious activity and freeze the account. That has happened to me. My bank just says it is automatic process. I have been here nine years, I never had a problem with the ATM machines. But watch out for bank employees.
@@IB4U2Cme Thanks for great tips.
I always had major dramas too since the 80s using visa cards and being rejected access to my accounts while in Asia till I was blue in the face..So call me an idiot but now for short visits up to 10 weeks I ALWAYS take cool cash with me in my money belt..Yes it's risky but a whole world better than no cash at all.
Life is risky Albert...but the alternative isn't very appealing.
Safe travels.
Cebu needs a Five Guys for some good old fashioned burger.
I agree Rick. Big Tom's was the best and they closed several months ago. They did not have a very good location was one
of the problems.
💡👍
Thanks Lud fx4yyc!
Rod, it seem that you're always out and about in Cebu. If you have time and could do a video on storage spaces for rent, I see some online for Cebu City and there are quite a few of them. It would be nice if you could get the sizes and prices for them.
Interesting topic Jon. I have inquired at a couple of them and they were always full. I had a friend search a long time before he finally found a unit over on Mactan, but I will look into it also. Might be a good business idea.
I don't think the Philippines goes in much for storage businesses. Partly because if it weren't climate controlled you would probably return to a big pile of rust or mold. Most foreigners I have known either knew someone they trusted to watch their stuff or sold it cheap or dear. Years ago I gave a jeep away because I wanted to use it until the last day. I did the legal transfer and deed of sale the week before I left. It is what it is.
❤
Hi rod
Thanks for the info
Can someone send many to himself when he is in Philippine using bank in USA
What is name of the APp
Yes, you can send money to yourself. I have done it using Xoom which is owned by Paypal and a couple of other money transfer services. Some give a better exchange rate or lower fees so check out their latest promos. Western Union seems to be the most difficult to deal with I keep hearing.
Remitly is the one I used. I have HSBC and a local California Bank for ATM cash out. HSBC refunds Atm fees worldwide.
👍✅🙀✅👍
Thanks Mr Macau!
❤
Thanks Roselie.