First trip money questions

[Art, just a re(tired) Fil-Am]

I might try that.  Do you walk the few blocks to the bank or drive the few blocks and then walk up to the teller?

Both, because South Supermarket is next to our bank when my wife does her grocery shopping.

[BudM]

Both, because South Supermarket is next to our bank when my wife does her grocery shopping.

Ahhh, ok.  I don't know why I even gave it any thought but after thinking more, I changed my mind about doing it your way.  My preference is not wanting to be drawing a 2 or 3 month supply of pesos and having it on me or around.  Will stick to once a week withdrawals of a piddly amount.  Still will do only occasional deposit though.

[bigrod]

Ahhh, ok.  I don't know why I even gave it any thought but after thinking more, I changed my mind about doing it your way.  My preference is not wanting to be drawing a 2 or 3 month supply of pesos and having it on me or around.  Will stick to once a week withdrawals of a piddly amount.  Still will do only occasional deposit though.

 

Can't remember the last time I went to BDO to get pesos.  I normally get them from the BDO ATMs at Waltermart, S&R Imus, etc. Most Supermarkets and department stores take the BDO debit or C/C too.

Chuck

[Art, just a re(tired) Fil-Am]

No problem keeping 2 to 3 months worth of pesos. I hate it when we don't have enough loose change on hand to pay cash on a variety of things like bottle water delevery, cleaning out our roof gutters, maid's wages 3 times a week, weekly palengke trips, hired help for repairs around the house, take out food home deleveries, on-line home shopping COD deleveries, wife's saloon beauty retreatments (not cheap), fast food drive-thru. I use our banks ATM card to pay for our Mercury Drug Store medications once every 2 weeks, since I need double receipts for our TRICARE reimbursement claims once a year. We just got back over $2,500 from our  meds claims for 2017.
So, having enough cash in the house works out for us without having to go to the bank often, but once every 2 to 3 months.

[BudM]

 

Can't remember the last time I went to BDO to get pesos.  I normally get them from the BDO ATMs at Waltermart, S&R Imus, etc. Most Supermarkets and department stores take the BDO debit or C/C too.

Chuck

I don't get them from the bank either.  I was just debating whether to take that long walk to the bank and get them or stick with what I am doing.  And I forgot to mention that the withdrawals would be USD and not pesos.  I use the ATM once in a while if by chance I run out or low of pesos.  Sometimes the debit card too.  I mostly like to do what I am normally doing though.

[BudM]

No problem keeping 2 to 3 months worth of pesos. I hate it when we don't have enough loose change on hand to pay cash on a variety of things like bottle water delevery, cleaning out our roof gutters, maid's wages 3 times a week, weekly palengke trips, hired help for repairs around the house, take out food home deleveries, on-line home shopping COD deleveries, wife's saloon beauty retreatments (not cheap), fast food drive-thru. I use our banks ATM card to pay for our Mercury Drug Store medications once every 2 weeks, since I need double receipts for our TRICARE reimbursement claims once a year. We just got back over $2,500 from our  meds claims for 2017.
So, having enough cash in the house works out for us without having to go to the bank often, but once every 2 to 3 months.

I don't run out and still pay all that stuff.  I also pay our household help in a timely manner but not three times a week.  Don't need to worry about Mercury except for my spoiled kid's bottled water and on all the expensive crap women do to themselves, my wife pays her own way.  And with bills I pay online.  So, I don't have to worry about too much and I can relax.  I still prefer to visit with them at the bank.

Edit:  Also, I wouldn't have trouble keeping 2 or 3 months expenses for around the house even though I don't have and am not rolling around in all the big money that a few members on here have coming in.

[Art, just a re(tired) Fil-Am]

withdrawals would be USD and not pesos. .

That means you have to look around town for a money exchanger with the best rates.
I haven't seen a few $100 bills in ages, because when I do have dollars in our dollar account, I just convert them on-line to pesos.
Now I use Transfer Wise, which they will give a good exchange rate/service fee and make the transfer in pesos to our peso account. I now only deposit our U.S. check once every 3 to 4 months to avoid the monthly service fee when our minimum bal falls below $500.

[bigrod]

That means you have to look around town for a money exchanger with the best rates.
I haven't seen a few $100 bills in ages, because when I do have dollars in our dollar account, I just convert them on-line to pesos.
Now I use Transfer Wise, which they will give a good exchange rate/service fee and make the transfer in pesos to our peso account. I now only deposit our U.S. check once every 3 to 4 months to avoid the monthly service fee when our minimum bal falls below $500.

If you live here for a while why would you be looking around for a money changer, you should already know which one is giving the best rates.  I like my BDO Prime Savers(over 60) USD account since the minimum balance is $200.

Chuck

[Art, just a re(tired) Fil-Am]

No Chuck, it wasn't me that use money exchangers. I haven't even handled any U.S. dollars in my hands in ages.

[BudM]

That means you have to look around town for a money exchanger with the best rates.
I haven't seen a few $100 bills in ages, because when I do have dollars in our dollar account, I just convert them on-line to pesos.
Now I use Transfer Wise, which they will give a good exchange rate/service fee and make the transfer in pesos to our peso account. I now only deposit our U.S. check once every 3 to 4 months to avoid the monthly service fee when our minimum bal falls below $500.

I have only mentioned maybe 15-20 times on this board that I do not spend my time looking for a money changer with the best rates.  The one I always use I can count on having probably the best rate and if there is anything better, it is not enough to make it worthwhile to stress over.  I don't waste my time with all that.  I have a routine and that includes a money exchanger who at my convenience I will convert my USD and then go around the corner and deposit most of the pesos in a bank money machine.  Guess what?  I am in and out of there in a matter of maybe half a minute.

And I don't worry about my USD balance falling below.  And I don't worry about going over 10k for the year and having to submit the FBAR form.  Crap, it only takes about two minutes to fill it out and hit "Send" once a year.

I am not going to worry about this and that and going here or having to go there and worry about having to go outside.  I don't even take an umbrella.  I just take my time, do what I feel like and not worry about so much.  As long as I have everything covered on what I need to do, without too much effort, I am content.

I hope I never have a bunch of money so that my life remains simple and I don't have to worry about so much.

[bigrod]

No Chuck, it wasn't me that use money exchangers. I haven't even handled any U.S. dollars in my hands in ages.

Did not say anything about you using money changers.  My comment was in regards to you stating they would have to search around to find the best changer.  Like I stated if they like myself, BudM or anyone else who has been here for a while and uses that system already know what changer to use, there is no searching around.

Chuck

[suzukig1]

I'm the same.  I don't do anything like anyone else. 

[Art, just a re(tired) Fil-Am]

I don't have and am not rolling around in all the big money that a few members on here have coming in.

Your last sentence in your comment fooled me too. Sounds like FERS didn't live up to your expectations.
I was just referring only to my particular situation which wasn't the norm under CRS, which provided me with an adequate pension to date, which I didn't expect at the beginning when we moved to the Philippines to retire.
Just luck of the draw I guess the way things happen unexpectedly good or bad. I just count my lucky stars and give thanks.

[Lee2]

Okay guys lets get this back on topic, I made another topic for the pension chat under pensions.

[ellenbrook2001]

hi
wow very very good answer I have been here 10 years do not I repeat do not carry the big sum of the cash on you we foreigners some time are a target be smart to be wise  taxi drivers always ask if your first trip always say oh I have been here many times same has girls always say oh been here many times so they may not to be smart on you