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I am not too sure why anyone would have LONG TERM savings of more than 500K pesos in a Philippine bank.   Maybe to accumulate pesos in an account over time to buy a car or other asset, but otherwise I believe it is much better to set up a pipeline between your home bank and your Philippine bank account ...

Thanks Bob.  I got some extra cash at the moment but not needed in the current time. Just hope to get some babk  interest.

If you are presently banking with BDO and you can accept a little risk, it is possible to set up your own self directed brokerage account by logging into BDO Nomura.   With this on-line account, it is possible to very easily transfer funds between your bank account and BDO Nomera.  Within Nomura, it is possible to invest in any peso denominated stock listed on the Philippine stock exchange such as Jollibee, San Mig , most Philippine banks, Land development companies, etc. etc. This is a self directed account, so you can sell investments at any time and transfer the proceeds back to your bank account.  Nomura is a tiny bit confusing, but it operates in a similar way to on-line bank/ brokerage accounts in the US or Canada.

Thanks bob for your very details information.  Yes, jolly bee is a good stock. I  checked with local bank. They have many requirements even for simply banking transaction. Just not friendly.  So for now I just do nothing.  Not worth the effort.  Thanks again.

Hello;

Please check out your home nation tax consequences.  Non-Commercial banks such as rural banks can offer some very tempting long term bonds.   I am beating my US savings with 5-6% return.

Lem

Thank you  Mr lem. Is your US investment in Philippines bank?

Yes a rural bank, Katipunan.  Probably not in your area but I have no doubt something equivalent.

Thank you Sir. I wil enquiry at the local  bank here.