Where should I setup a bank account in Philippines?

"1. It is important to research the type of visa that you may need to gain legal residence in the Philippines. 2. It is essential to consider whether your pension and other retirement income will be sufficient to cover your living costs in the Philippines. 3. Consider whether you have access to reliable medical care and an international health insurance policy that can cover you in the Philippines. 4. Familiarize yourself with the local culture, customs, and language to make the transition smoother. 5. Familiarize yourself with any regulations or local laws that may affect you as a retiree. 6. Consider budgeting and banking options to allow your money to go further. 7. Research how you can set up internet, phone, and other connections to make life more convenient. 8. Learn more about the cost of living in different areas and make sure the place you choose to retire is feasible for you," wrote a member who made the move to Philippines.

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SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.

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SJB Global

SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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Click connect to have our partner contact you via e-mail and/or phone.

"The only bank I found accepting the opening of an account without a residency permit is ¨Security Bank" and has life insurance as a benefit :) Like every bank I visited, the guaranteed deposit is only 500.000 pesos. Lately, there have been a few issues with the bank related to scamming; however, usual caution, as you would apply at home, will keep you safe. When unsure, do not disclose online your data and contact the bank," explained one expat living in Philippines.