PNB RCI CHARGES
Same business day remittances to on-line PNB Branches, no limit. Peso remittances are withdrawable from 1,600 ATM\'s nation wide (as of 12/13/2007):
$6.00 for amounts up to $500
$7.00 for credit to PNB accounts (any amount)
$9.00 for credit to other banks, pick-up at PNB branches, door to door (any amount)
$10.00 Web remit service; dollar to peso, dollar to dollar
Excluding Web remit, remittances to Dollar accounts range between $10 to $50 for amounts from $0 to $6,001 and above.
OPENING PNB ACCOUNT FROM ABROAD
Anyone can open a variety of accounts at PNB through any one of their RCI\'s in the US or Canada. You don\'t have to be in the RP and you don\'t have to be Filipino. You may obtain an application form and have your signature witnessed in person by an RCI\'s manager. You\'d send the application to the headquarters of the RCI in LA. They will open your account at whatever PNB branch you desire in the RP and send you whatever comes with the account (checkbook, savings book, ATM card, etc). You don\'t have to step a foot out of the US or Canada to do it. There are a variety of services available and 1-800-PNB-8788 will get you to the RCI that services your location. There\'s a charge of $45 to open a new account and it may take a month or two.
REMITTANCES TO PNB
For the past dozen or so years I\'ve worked out a system to handle pensions to provide living expenses in the RP that works for me. There are dozens of variations, but this is how I do it.
I have all of my income direct deposited to one of my Credit Union accounts in the US. It is accessible through the Internet. My CU offers a free Bill Pay service. I use it to pay whatever bills happen to pop up in the US. Part of the service includes an automated payment to my PNB peso account through one of the many PNB RCI\'s in the US. The payment is made electronically and the amount is deposited the same day in my PNB account. Each of these routine exchanges cost $5 (with my senior discount).
This way I don\'t have to keep any of my life savings in a Philippine bank, but have almost immediate access when a need arises. This works for me, your mileage may vary.