Relocation Lump Sum Wire Transfer - What Bank Account should I provide or open?

tmanito

Hi guys, I got a job offer where the company would sponsor my visa and relocation. Nasa pinas ako currently and they are already asking about the bank account details, the money is in USD (8k+) and I'm not sure if what account at saan ko na i-oopen yung bank account is it in PH or AU?

juliatheambitiousoul

@tmanito is that a legit offer? Bakit magtra2nsfer agad ng pera? I remember before I had a job offer too and they were asking for my bank account para daw doon ilagay ng customers ung sales for the mean time as they do not have a branch in Au. They even sent me copies of the company's registration etc since I asked about it and they tried explaining it but I told them, I can't since it will be questionable and it will be monitored by government agencies.

Make sure it is legit. Baka money mule ang peg nyan.

SAP_Consultant

@tmanito ask them what's the purpose of the bank account, then you should know by then whether it's in PH (relocation) or AU (salary).

tmanito

@juliatheambitiousoul thanks sa concern ma'am, pero mukhang legit offer naman at may mga kumontak na sakin from Fragomen (for visa),Deloitte (for tax assistance), and GUHealth for Health Insurance.

tmanito

@SAP_Consultant for relocation talaga yung pera, thanks!

SAP_Consultant

@tmanito, then it's your existing PH bank account...

tmanito

Thanks @SAP_Consultant, I have reach out with fellow filipino engineers in the same company, reco nila magopen ng account sa AU banks like CBA, ANZ, and NAB.

juliatheambitiousoul

@tmanito that's good. You can open an online account with the banks that you mentioned and activate it once you are onshore. Sayang din yung exchange rate. convert to peso then aud. not sure how much is usd to aud.

SAP_Consultant

@tmanito, you definitely need to open an AU account for salary purposes. If you can shoulder the relocation expenses first, then follow the suggestion above. Otherwise, ask them to remit to PH account so you don't have to shell out any cash. Also consider whether you will process your OEC there or look for alternative options (search here other threads).