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What to do with savings in peso back in the Philippines?

m0t0k0m0t0k0 AmsterdamTotal Reaction Points: 0Member
edited April 17 in Remittance/Exchange Rate Posts: 77
Hello,

I am not sure where to put this thread and decided to put here since I am not sure what's the best thing to do with my savings back in the Philippines. It's a few hundred thousand pesos that are just lying in the BPI savings account, which earned a measly few hundred pesos from annual interest.

In comparison here in Australia, even just the savings account earns 20-30 AUD per month. Is it worth transferring all the PHP and into my Australian savings account? Or will the exchange rate hurt me and perhaps I should find a better place in the Philippines to put it, ie. some other better interest rate (not sure as I am not financial savy)?

Any advice would greatly help. :)
261313 Software Engineer - Visa (189)
-------------------------------------------------------
13 JAN 2015: Started gathering Certificate of Employments (COE) from 3 companies
04 FEB 2015: Got the COE from 2nd employer
20 FEB 2015: Got the COE from 1st employer
20 APR 2015: Got the COE from current employer (waited for APR so it would be exactly my 8th year experience)
08 MAY 2015: Submitted all documents to ACS
12 MAY 2015: Received positive assessment from ACS
30 MAY 2015: Took IELTS General
13 JUN 2015: Got unsatisfactory IELTS results S:7.5/W:6.5/R:9.0/L:9.0
15 JUN 2015: Paid for re-marking of IELTS Writing
29 JUL 2015: Got unchanged re-marking of IELTS Writing (total waste of money and most of all time - lost 6 weeks for nothing!)
31 JUL 2015: Found the PTE thread by @filipinacpa and booked my PTE exam on the same day
10 AUG 2015: Took PTE-Academic
11 AUG 2015: Got awesome PTE-A results S:90/W:87/R:89/L:84
12 AUG 2015: Submitted EOI
07 SEP 2015: Received invitation via email
14 SEP 2015: Submitted application and paid 3600AUD
23 OCT 2015 1st contact made by CO asking PCC, medical and uni transcripts
27 OCT 2015 2nd contact made by CO (different CO) who processed additional dependent Form 1436, paid 1800AUD
10 NOV 2015 3rd contact made by CO (again, a different CO) that gave the 2 HAP IDs and requested for Form 80
13 NOV 2015 uploaded Form 80 and replied back CO, waiting time again...
20 NOV 2015 clicked "Information Provided" button and emailed CO
14 DEC 2015 Grant Received (exactly 90 days after lodging)! Thank you Lord Jesus! :)
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Comments

  • dencio123dencio123 Saudi arabiaTotal Reaction Points: 1Member
    Posts: 14
    boss mgkano ngastos mo lahat s pagaply
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  • LexiLexi MandaluyongTotal Reaction Points: 5Member
    edited April 19 Posts: 119
    Invest it in blue chips stocks in Philippine Stock market. Sayang naman kung nasa bank lang.

    Visit colfinancial.com :)
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  • m0t0k0m0t0k0 AmsterdamTotal Reaction Points: 0Member
    Posts: 77
    @Lexi when you applied for an account in COL, were you already in Australia?

    If you don't mind me asking how much does it earn per year on average?:)
    261313 Software Engineer - Visa (189)
    -------------------------------------------------------
    13 JAN 2015: Started gathering Certificate of Employments (COE) from 3 companies
    04 FEB 2015: Got the COE from 2nd employer
    20 FEB 2015: Got the COE from 1st employer
    20 APR 2015: Got the COE from current employer (waited for APR so it would be exactly my 8th year experience)
    08 MAY 2015: Submitted all documents to ACS
    12 MAY 2015: Received positive assessment from ACS
    30 MAY 2015: Took IELTS General
    13 JUN 2015: Got unsatisfactory IELTS results S:7.5/W:6.5/R:9.0/L:9.0
    15 JUN 2015: Paid for re-marking of IELTS Writing
    29 JUL 2015: Got unchanged re-marking of IELTS Writing (total waste of money and most of all time - lost 6 weeks for nothing!)
    31 JUL 2015: Found the PTE thread by @filipinacpa and booked my PTE exam on the same day
    10 AUG 2015: Took PTE-Academic
    11 AUG 2015: Got awesome PTE-A results S:90/W:87/R:89/L:84
    12 AUG 2015: Submitted EOI
    07 SEP 2015: Received invitation via email
    14 SEP 2015: Submitted application and paid 3600AUD
    23 OCT 2015 1st contact made by CO asking PCC, medical and uni transcripts
    27 OCT 2015 2nd contact made by CO (different CO) who processed additional dependent Form 1436, paid 1800AUD
    10 NOV 2015 3rd contact made by CO (again, a different CO) that gave the 2 HAP IDs and requested for Form 80
    13 NOV 2015 uploaded Form 80 and replied back CO, waiting time again...
    20 NOV 2015 clicked "Information Provided" button and emailed CO
    14 DEC 2015 Grant Received (exactly 90 days after lodging)! Thank you Lord Jesus! :)
    reaction image 0LOL reaction image 0Awesome reaction image 0Informative reaction image 0Artistic Share on Facebook Share on Twitter
  • LexiLexi MandaluyongTotal Reaction Points: 5Member
    Posts: 119
    @m0t0k0 I am still here in Philippines. You can apply even if you're there in Oz.

    Di ko masabi ang earnings per year. It's not like a savings account. Nag-iissue ang Col Financial or other stock brokers ng advise on when to buy a stock. You'll buy the stock, set a target gain like 10% , then pag tumaas na value ng stocks mo, benta mo na. Here's an example para makapili ka ng stocks na bibilihin mo:

    https://dailypik.com/undervalued-stocks-in-the-philippines-latest-list/
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  • hopeful_meahopeful_mea MandaluyongTotal Reaction Points: 28Member
    Posts: 417
    I have stocks din thru colfinancial for 2 years na and yan din plan ko next year pg nkasettle na sa oz. mg.quarterly bili ng stocks =) that's better kesa nkatago lng sa bank. you can venture din real estate kc hndi ng.dedepreciate.
    Accountant (221111)
    Mar 2014 IELTS Davao L7.5 R7 S8 W6.5
    Dec 2015 Discovered PTE
    5 Jan 16 PTE - L82 R84 S71 W83
    2 Feb 16 CPAA Positive assessment, EOI 60, NSW 65
    4 Feb 16 PTE - L88 R76 S65 W90
    22 Feb 16 PTE - L84 R74 S49 W90
    29 May16 EOI update 65, NSW 70
    16 Jun 16 PTE - L80 R83 S61 W90
    20 Sep 16 PTE - L86 R83 S74 W90
    2 Mar 17 PTE - L90 R90 S87 W90
    4 Mar 17 EOI update 75, NSW 80
    15 Mar 17 ITA received
    31 Mar 17 Medicals cleared (primary and dependents)
    12 Apr 17 Lodged 189 VISA
    22 Apr 17 VISA grant DG
    08 Feb 18 Big Move (Melbourne)

    In God's time..
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