Question: My wife has an international account with BPI. Every time she tries to send money outside the Philippines, the bank keeps "locking" the account. Has anyone else had trouble getting money out of the Philippines?
In my experience, they're more than happy to take your money, but getting it out is a whole different story.
How many of you have had your accounts "locked"?
The AMLC (Anti-Money Laundering Council) will flag you if transactions go over 500k pesos, and the same goes when you send money to the Philippines. Use a remittance app instead. BPI will also screw you on the exchange rate. Well, to be fair, every bank does.
Send it with Wise, it's really easy. There's a $10,000 limit per transaction and $50,000 per calendar month.
Not exactly true. I tried to put 100,000 USD into Security Bank and they wouldn't let me. What bank anywhere doesn't want someone depositing money with them?
Let your bank know if you'll have any transactions outside the "usual." They locked it to protect your account.
Welcome to the Philippines!
Send them an ATM card and let them withdraw it over there
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