I was recently robbed in my first few days back in Thailand, and I have learned my lesson. (probabaly)

I may be a frequent visitor to the Philippines so was wondering if I can open a bank account there in order to avoid carrying around cash.

If I have a local bank with ATM card can I take money out for free? Or anyway to avoid this?

Thanks

I have security bank,I think thery a big,every were in Angeles,Subic,Manila and they have both dollar account and peso.I had only turistvisa so no problem.

Edited June 27, 201214 yr by crille30

yes, you can open with BDO at least, I got pesos and dollar account there. And it is free to withdraw if you use BDOs ATM.

Edited July 1, 201214 yr by dollarman

Yes it is possible to open peso and US dollar accounts, as I have both with Metro Bank and BPI (Bank of the Philippines Islands). You can even deposit a check drawn on a US bank into your dollar account and get funds put into your account. BPI has a 25 day hold on the check however. You can get no fee ATM cards as others have posted. They require proper documentaton. I believe they want to see some evidence of residence (phone bill, electric bill, etc.). This may vary with the financial institution so check at the bank.