Do you get US Government Payments?
You get Direct Deposit to a Philippine Bank
Did you know that you can now have most US Government payments (Social Security, Military Retirements, etc) deposited directly into your Philippines US Dollar Bank account?
That’s right!
BPI (Bank of the Philippine Islands) now offers direct deposit of US Government payments. Payments are made through ACH (Automated Clearing House) payment, which generally means that you should get your money in just a day or two. BPI is advertising that the money will be in you Philippine account within 24 hours after funds are received from the US Government.
You can get more information here.
This video covers Bank Direct Deposit, and a side topic about having a dog put to sleep in the Philippines.
Other Banks too!
In the video, I said that I was going to give a list of Philippine Banks that accept US Government direct deposits. Here is that list (including the amount they charge for accepting the direct deposit):
Allied Banking Corporation – $3.00
Bank of the Philippine Islands (BPI) – $3.00
Development Bank of the Philippines (DBP) – $5.00
Land Bank of the Philippines – $5.00
Maybank – $3.00
Philippine Veterans Bank (PVB) – $3.00
China Bank – $3.00
RCBC – $3.00 to $5.00
Banco de Oro – Unknown
Bank of Commerce (BOC) – $5.00 to $7.00
Manila Bank – $1.00
Security Bank – $5.00
United Coconut Planters Bank (UCPB) – $4.00 to $6.00
Metrobank – $3.00
Philippine National Bank – $7.00
I can't download the form. Could you please help on where to get this info or could you send the link?
Thanks!
Hi Virgil – I am not certain what form you are looking for. As far as I am aware, there is no form to be downloaded. What you need to do is to just go to any branch of BPI and open an account with them.
Hi bob ,,
there is a Form , However the form they are using is outdated and for people receiving checks and do not have direct deposit but setting one up , With that said , they use it anyway ….. on the form where they ask for check number use your Social security number , Also Fax the form to Social security( I attached mine in an Email and faxed it and called ) , call them and give them the account and routing number you’ll have your deposit the next month that way … As the other way the bank is going to process the form , then send it to social security , this is all really not needed and all that needs to be done is you to call social security , however not sure on the bank side since they are using a state side bank processing the money , I would suggest fill out the bank form and send it in and call social security,so it is instant set up with social security …. good luck ….
Sir Bob;
I see that the charges Philippine banks deduct has dropped. I opened a dollar account in 1997 and was charged $20.00 A MONTH. I switched to leaving my money in the states after that. Because during that time two banks I used failed and it took a year to get most of my money back.
I can now bring in three months of money from my Credit Union at $14.50 every 90 days, and on line I can transfer money to my wife’s debit card within seconds.
It appears that 20 years later, banking has improved vastly as I’ve seen most things improve here in the Philippines if you just give it time. But I’m an old Curmudgeon and will stay with my plan.
Hi Paul – Dropping charges is a good thing! Yeah, competition has brought good things to the Philippines, as have many things, as you suggest. If you have something that works, staying with it is also good, Paul! No doubt!
Ouch,I see that the most convenient bank for where my place is located is also very expensive. Time to find plan B.
Could you please send me your link on things i can do to make money here i dont mind doing things online
Sure, check this:
https://www.liveinthephilippines.com/product/49-ways-to-make-a-living-in-the-philippines/
can i use this facility in paying the us immigrant visa application?
No, sorry.
Bob, i moved here 8 months ago and here in dec my bank in the usa rejected my direct va deposit for unknown reasons. The va resent it jan 15th and still no deposit in my account so im guessing they rejected it again. I only mske 1000 a month so i really have no money. Now i went to bpi bank and hey said i need an acr id card and they would open an account for me. Well i got the card but bpi said oh it says tourist on the card so cant do it. How in the world do i get tourist removed from my acr card. I intend on stsying here. I am single and do not wish to get married. I am disabled vet so i cant work either. What can i do, am i missing something, how do i get resident on this card so i can open an account and get paid. Soon to be an expact on the streets because i have no money for rent. Please any info you can give me. I am livjng in tacloban. Thanks, robert.
Firstly, you should call your US Bank and find out why they are no longer accepting the deposit.
As for visa, look into getting an SRRV.
I have a US treasury check where can i deposit this here in the Philippines ?
Yes me too! After waiting for over one year to take receipt due to dysfunctional postage service here in PH I now have an IRS refund cheque. I bank at BPI (US$ account) and they are telling me they won’t accept it for deposit! Does anyone know of any bank here in PH who will take an IRS refund cheque (treasury warrant) for deposit!
Hi, how fast do the social security direct deposits arrive in the Philippine bank? I know the due days are on Wednesdays in the US, but are they delayed when going to a foreign bank. Thanks in advance.