Expat Community > Philippines

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DukeStamina
Joined 2016
Posts: 68

Social Security and Banking

4 years ago

These questions are probably best for U.S. citizens living in the Philippines and collecting Social Security. I will soon be filing for SS. Assuming that the SS cannot be deposited to foreign banks, is there any banks preferable? I have heard (maybe here?) that HSBC is a good choice. Do I need two accounts? A U.S. account to deposit SS and a Philippine account to transfer money into? I am guessing keeping the money in the HSBC family will mean cheaper transfers. However, there does not seem to be many HSBC locations in the Philippines.

I would be really interested on how others have solved this problem. Thank you in advance for the help.

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