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- Category: banking
How about Banking in the Philippines?
Wise Words from Billy Ray.
1. You have to be in the Philippines to set up bank accounts.
2. No problems with wire transfers bank to bank. I did that with the Land bank and China bank here in Dumaguete City. The U.S. banks will handle the reporting of $10,000 or more leaving the Country. But, if the U.S. Government thinks there's something fishy about transferring such large amounts, they could put a stop to it and tie it up with investigations.