Open bank accounts, manage money, and navigate the Philippine financial system
Yes! Foreigners can open peso and dollar savings accounts in the Philippines. However, requirements vary by bank and visa status.
| Visa Type | Ease of Opening | Additional Requirements |
|---|---|---|
| Tourist (9a) | Difficult | Some banks refuse, need local address proof |
| SRRV Retirement | Easy | SRRV ID accepted at most banks |
| 13(a) Marriage | Easy | ACR I-Card + proof of address |
| Work Visa (9g) | Easy | Employment contract, AEP |
| SIRV Investor | Very Easy | SIRV ID, priority treatment |
Most widely used. Link to passport. ₱100,000 monthly limit for basic account.
Good for online payments. Foreigner registration available. Virtual and physical cards.
Integrated with Grab app. Useful for transport and food delivery.
| Service | Speed | Fees | Best For |
|---|---|---|---|
| Wise (TransferWise) | 1-2 days | Low (~0.5%) | Regular transfers |
| Remitly | Same day | Medium | Fast transfers |
| Bank Wire | 3-5 days | High ($25-50) | Large amounts |
| Western Union | Minutes | High | Emergency cash |