Philippine National Bank

I have had several accounts at Philippine National Bank since 2005.  I actually opened one of the accounts before I ever came to the Philippines in Houston, Texas

The service is not the best, but I have not changed because I know I could get a worse bank.  My major problem has been with wire transfers from my trust fund in the States.

For instance on March 1, 2017 my transfer was made just as it has been done every month since January 2005.  For nine days I fought with PNB Customer Relations in Manila.  The only response was your bank in the States is lying they have not transferred the funds.

This morning I got the confirmation from the U.S. bank proving the money had been wired and I immediately sent it to PNB.  A MIRACLE, within 15 minutes after they received the proof that they were the ones that made the mistake (as they had done on five other occasions) they credited my account the funds.

I have never received and apology!

On one occasion they did admit they had credited the funds to someone else's account and they would have to find whose account the money was in before they could credit me.  I never understood why I had to wait since they made the mistake.  It was obvious they did not put it in any of my three accounts.

Another occasion I did not get my Social Security check that normally is credit on the third until the 15th.  The lady in The Davao Branch told me it was because I now had over $50,000 in assets and the U.S. government does not allow anyone on Social Security to have more than $50,000 in assets.  I told her she did not know what she was talking about and of course she got mad.  I told her if I have more than $50,000 in one foreign bank the bank has to report it to the U.S. Treasury.  If she would look she could see that is why I never keep more than $40,000 in PNB or BDO or Maybank or Peoples Bank.  She rudely told me I needed to talk to my Embassy because she knew she was right and she guaranteed I would not get another check until I got rid of assets.

The Embassy found out that the Social Security Department made a mistake and listed me as DEAD.  I got the past due check immediately and the next months check and every check since on time.

I have my caregiver on one PNB account since I am now homebound due to health issues.  A transfer had come to that account for over five years in my name.  They held the transfer and finally after my attorney in the States got involved they said it was because the wire transfer had to be in my name and his name.  Never was before!  I did have my attorney make that change and I have not experiences any other problems.

ALL EXPATS - check out all the banks in the Philippines before you settle on one.  All my U.S. accounts and Social Security is setup for the PNB accounts or I would change immediately.  I wonder if they delay crediting money transfer so they can use our money for free for a few days.

I have savings at BDO and Maybank and have never had any problems and their people are always courteous.  It seem at PNB it is the managers that are horses behinds.

If Philippine banks delay OFW remittance by just a few days it is a considerable amount of money for the bank to use free, based on 2016 28 Billion dollars was remitted from overseas.  It is approximately 8 percent of the Philippine total budget.