Itís Your Money > Money Exchanging

Using paypal to paypal to send money to the Philippines

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Lee2:
For those still in the U.S planning to retire, I suggest a Fidelity account, I use our Fidelity ATM card at HSBC in the Philippines and at any machine with a Visa logo and it has been free but even if it isn't, they reimburse ATM fees.

Another choice would be Charles Schwab, they also reimburse ATM fees, in fact if I was going to retire and move to another country then I would open both of those accounts and get a Cap One CC too because that can be used for free when outside the U.S and they pay you 1.5% for using it.

Also to make it easier, I have a Fidelity Visa that we use in the Philippines and they charge me 1% for using it and pay me 2% back, so we still make 1% and that gets deposited into my Fidelity cash management account for us to do with whatever we wish, thus for us it is easier than using our Cap One credit card or any other card with no fees. The less cash we need to use, the less we have to carry around and using cc's makes large purchases easier but you may need to maintain a U.S. address for some cards and definitely for a Fidelity account.

copusmaximus:
adding gcash link  so people can read about it please let link show tyvm :)
https://www.gcash.com/cash-in/mobile-facilities/paypal

suzukig1:

--- Quote from: Lee2 on February 12, 2018, 01:33:46 AM ---For those still in the U.S planning to retire, I suggest a Fidelity account, I use our Fidelity ATM card at HSBC in the Philippines and at any machine with a Visa logo and it has been free but even if it isn't, they reimburse ATM fees.

Another choice would be Charles Schwab, they also reimburse ATM fees, in fact if I was going to retire and move to another country then I would open both of those accounts and get a Cap One CC too because that can be used for free when outside the U.S and they pay you 1.5% for using it.

Also to make it easier, I have a Fidelity Visa that we use in the Philippines and they charge me 1% for using it and pay me 2% back, so we still make 1% and that gets deposited into my Fidelity cash management account for us to do with whatever we wish, thus for us it is easier than using our Cap One credit card or any other card with no fees. The less cash we need to use, the less we have to carry around and using cc's makes large purchases easier but you may need to maintain a U.S. address for some cards and definitely for a Fidelity account.

--- End quote ---

One thing to note is that Fidelity does not allow the use of a foreign address.  Even if you use a U.S. address and they suspect that you are living outside of the U.S.  That happened to me.  I stupidly responded to their request for a cell phone number and I asked what if I don't have a U.S. cell phone number.  (They had "my" U.S. landline number on record.)  That triggered a series of events that led to my accounts being frozen.  I was able to make withdrawals but no other activities.

With Schwab I can use a foreign address but it has to be an international account and not a U.S. account.  If you are a U.S. citizen, you still get the Schwab debit card and check writing but no other banking privileges like bill pay. 

Gray Wolf:

--- Quote from: BudM on February 12, 2018, 01:19:57 AM ---My bank, as of about a year ago, start popping my USD account for 5 bucks when I deposit a US check.  I am not thrilled with keeping too much USD here so I write one once a month.  If the bank decides they are going to some day start charging me more and if the Xoom rate stays the same for that amount, I might just start bringing USD in that way.  Unless it pertains to only if you convert to pesos for transfer since then they get you good on the exchange rate.

--- End quote ---

They give you the option for recipient to pickup money in pisos or dollars

Gray Wolf:

--- Quote from: copusmaximus on February 12, 2018, 09:39:37 AM ---adding gcash link  so people can read about it please let link show tyvm :)
https://www.gcash.com/cash-in/mobile-facilities/paypal

--- End quote ---

Thanks, I'll check that out. On the surface it looks like something I can use

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