Malaking pera from pinas to AUD

vhoythoy

Kung may malaking pera kayo sa pinas (i.e. 1 million pesos +), paano ginawa nyo para madala sa Australia?

TasBurrfoot

Kung may malaking pera kayo sa pinas (i.e. 1 million pesos +), paano ginawa nyo para madala sa Australia?

Normally sa bank yan - there are black markets out there supposedly who can give you a better rate than the banks.

Worst case, sa banks ka - you need documentation for source of money though.

JCsantos

will have the currency exchanged to AUD then stuff it in the bag before leaving PH to AU

wizz

Kung may malaking pera kayo sa pinas (i.e. 1 million pesos +), paano ginawa nyo para madala sa Australia?

#firstworldproblems #richkidproblems hahahaha!

wizardofOz

Saan ba pwede magpapalit ng PHP to AUD sa Pinas?

Parang bihira ata sa mga banks sa Pinas ang may AUD notes.. lalo na kung equivalent to around 30K AUD ang ipapalit mo...

@vhoytoy, safest way talaga is bank-to-bank wire transfer...

pero kung matatalo ka sa wire transfer charges and exchange rate ng PHP to AUD, I suggest ipa-palit mo na lang sa bank from PHP to USD yung pera mo, then pagdating mo sa Oz, saka mo na lang ipapalit from USD to AUD.. ingat na lang sa pag handcarry nung USD, around 22K rin yung equivalent ng 1M PHP..

Another option is.. pagawa ka ng USD na Traveler's Check.. yan mas safe pa yan kesa dalhin mo yung USD na notes...

vhoythoy

Just in case plang naman. Coz, im selling my condo and may isang willing to pay spot cash. Its discounted price but i think makakabawi ako dahil malakas piso ngaun. But still wondering paano nga ba. May 2 banks acct nman ako sa australia d nga lang fully activated. Madali kasi kung pera dito sa sg to au. Most probably will talk to bank manager for best way. Kung sa palitan ngaun atleast aud50k cguro. Kung magbitbit ng cash baka madelikado haha. Pero for sure may docs kami like notarised deed of sale if ever. Managers check, bank draft, wire transfer still dont know. Curious lang ako paano ung iba na may malaking pera talaga na dinala.

vhoythoy

Saan ba pwede magpapalit ng PHP to AUD sa Pinas?

Parang bihira ata sa mga banks sa Pinas ang may AUD notes.. lalo na kung equivalent to around 30K AUD ang ipapalit mo...

@vhoytoy, safest way talaga is bank-to-bank wire transfer...

pero kung matatalo ka sa wire transfer charges and exchange rate ng PHP to AUD, I suggest ipa-palit mo na lang sa bank from PHP to USD yung pera mo, then pagdating mo sa Oz, saka mo na lang ipapalit from USD to AUD.. ingat na lang sa pag handcarry nung USD, around 22K rin yung equivalent ng 1M PHP..

Another option is.. pagawa ka ng USD na Traveler's Check.. yan mas safe pa yan kesa dalhin mo yung USD na notes...

Di kaya malugi kung dadaan pa usd? Ilagay ko nlang kaya sa gym bag tapos mag maskara nalang ako hahaha

wizardofOz

@vhoythoy parang parehas lang naman kahit idaan mo sa USD.. pag pinapalit mo yung USd to AUD, mas lalaki pa rin yun dahil mahina ang AUD ngayon

goreo

@vhoythoy pagkakaalam ko may limit din ang cash on hand na pwedeng ilabas from pinas thru airport..10K din ata.. narinig ko lang to..di ako sure.. if ever na may ganyan din kami kalaki pera baka ipa-wire na lang..

kremitz

hmm try mo kaya iremit. parang 9900 aud max per transaction. so mga 5 transactions gawin mo. then transfer mo s au acct mo. eto details nila. C catherine Menor kausap ko dati jan when I sent money from Pinas to au. though im not sure pano if dipa activated au acct mo. I think pwede naman personally iclaim sa iremit office sa oz.

iRemit, Incorporated
26th Flr. Discovery Center, 25 ADB Avenue, Ortigas Center, Pasig City 1605 Philippines
Tel. No. +63.2 706.9999 local 116 / Fax No. +63.2 706.2769
Mobile no. +63.917.830.2851

TasBurrfoot

hmm try mo kaya iremit. parang 9900 aud max per transaction. so mga 5 transactions gawin mo. then transfer mo s au acct mo. eto details nila. C catherine Menor kausap ko dati jan when I sent money from Pinas to au. though im not sure pano if dipa activated au acct mo. I think pwede naman personally iclaim sa iremit office sa oz.

iRemit, Incorporated
26th Flr. Discovery Center, 25 ADB Avenue, Ortigas Center, Pasig City 1605 Philippines
Tel. No. +63.2 706.9999 local 116 / Fax No. +63.2 706.2769
Mobile no. +63.917.830.2851

Thank you, I will take note of this...

vhoythoy

Kapag nagreremit kasi ako sa lucky plaza dala ko pera. Jan ba sa iremit pinas pwede wire transfer? Kasi ung bdo namin is 50k pesos a day withdrawal limit so kung 9999 per transactions aud baka 7-8 days ka magwiwithdraw. Or pwede naman at palakihin withdrwal tumawag sa bank. Ano ginawa mo kremitz?

gernaez

@wizardofOz kami sa czarina kami bumibili ng AUD.. pero you have to call para magpareserve, 3 days before you pick-up the money.. ganun ginagawa ng company namin kapag may pupunta din ng au for training or small scale projects..

TasBurrfoot

@vhoythoy parang parehas lang naman kahit idaan mo sa USD.. pag pinapalit mo yung USd to AUD, mas lalaki pa rin yun dahil mahina ang AUD ngayon

My 2 cents @wizardofOz - everytime you do an FX, you immediately lose 1.5% of the fair value of your money as a result of what they call FX spread.

So to put it in perspective, you would lose approximately 3% of your 1M when you Sell PHP, Buy USD then Sell USD, Buy AUD - this is Php30K or mga approximately $900 AUD - sayang din!

vhoythoy

Plus meron kasi yan buy/sell rate para kumita ung banks/ forex money changer. Medyo lugi ka kasi laging sell rate bigay sau unless makatiming ka ng magandang rate or bigyan ka or pagpalit mo ng another currency favourable rates ulit

kremitz

@vhoythoy umm bpi kasi yung savings acct namen so ginawa ko pumunta ako bpi then nag over the counter ako deposit sa iremit account.parang nitransfer lang nila from my acct to iremit's acct. para hindi nako magbitbit ng pera or mag withdraw everyday from my acct. from what account po ba manggaling yung funds if ever? parang meron panaman ibang bank account ang iremit. mas makakamura kasi sa iremit compared sa banks eh.

kremitz

alam ko may bdo acct din ang iremit @vhoythoy.

vhoythoy

Paano process nyan. Magremit ka 9999 aud sa iremit sa acct mo. Tapos instruct ka ng iremit na deposit ka muna sa acct nila ng ganitong amt xxx in pesos. Then pakita mo ung deposit slip. Tapos saka nila send sa acct mo sa aus kapag pumasok na sa acct nila? By phone/personal ba to? Parang ganito kasi sa pay2homes online nga lang mas convenient and sarado na agad ung exchange rate

JCsantos

@vhoythoy parang parehas lang naman kahit idaan mo sa USD.. pag pinapalit mo yung USd to AUD, mas lalaki pa rin yun dahil mahina ang AUD ngayon

My 2 cents @wizardofOz - everytime you do an FX, you immediately lose 1.5% of the fair value of your money as a result of what they call FX spread.

So to put it in perspective, you would lose approximately 3% of your 1M when you Sell PHP, Buy USD then Sell USD, Buy AUD - this is Php30K or mga approximately $900 AUD - sayang din!

I agree with this.. it is really a bad idea to convert your money to USD then AUD ... lalo na ngayon mababa ang value ng AUD .... talo na ka na exchange rate talo ka pa sa FEEs

wizardofOz

Best option pa din is to convert your money directly to AUD, but if AUD notes are not that readily available from where you are, good alternative, and probably the safest, pa din is to transfer money via wire..

For instance in my bank in Bangkok, the charge is only 300 Baht (~USD10 equivalent) per transaction up to 50,000 USD equivalent of any currency per day.

Then my receiving bank in Oz, which is NAB, only charges AUD10 for any incoming wire transaction.. Basically, 50K USD could move in less than USD20 fee.

Of course there would always be forex losses, that’s how banks make money.

RED

although di pa ako nakapagtransfer ng malaking pera at wala din naman akong malaking pera baka makatulong tong info na nagather ko before for telegraphic transfer.

BDO
- $10 fixed charge + 1.5% swab fee
- preferrable na USD ang pera kasi pag Peso madami daw requirements and approval.

BPI
- PHP600 fixed charge + documentary stamp of 30 cents per 200 pesos

yung sa BPI, less than 1% lang yung charge.

kremitz

@vhoythoy you can personally go to their office or pwede din naman online. may mga forms ka pa na need ifillout. pero ako i personally went to their office in ortigas para sure. parang hindi kasi ako comfortable na online lang eh. pero yung hubby ko natry na magpadala from au to ph na online lang lahat. bale ang process nung ako nagpadala from ph to oz nagdeposit ako sa iremit bpi acct then inemail ko yung deposit slip sa taga iremit then nagtransfer naman sila ng aud to my hubby's au acct. mga one to three days ata nacredit sa acct ng hubby ko. parang ganun naman usually katagal kahit au to au acct ka magtransfer eh.

mixednuts

@RED pwede ba magremit from BDO or BPI to OZ banks directly?

TasBurrfoot

@RED pwede ba magremit from BDO or BPI to OZ banks directly?

Pwede...

depends on how big the amount will be, sometimes kailangan ng documentation.

mixednuts

@TasBurrfoot noted sir. so kung pwede may idea ba kayo kung may limit say 100k aud or more? ang alam ko as per other's post meron limit /transaction pero yung maximum total no idea pa

TasBurrfoot

@TasBurrfoot noted sir. so kung pwede may idea ba kayo kung may limit say 100k aud or more? ang alam ko as per other's post meron limit /transaction pero yung maximum total no idea pa

You have to check this with your bank... Potentially, I will be remitting roughly at least $80K in the coming weeks and BPI specifically mention that papers will be required to ascertain source of fund.

mixednuts

@TasBurrfoot pls let us know then the process, documents required and remitance fees to be incurred. para ma compare din sa ibang banks.

BTW mas panalo ba sa BPI kesa ANZ bank (Makati)
Isang tanong pa, subjected ba sa OZ tax yang ganyang magremit ka from Pinas to OZ wherein funds are coming from property sellings and other forms of investment like mutual funds/stocks.

goreo

@TasBurrfoot, ask ko lang if yung bang malaking pera na ipapadala from pinas will be taxable in AU? wondering lang kasi if ever we sell properties in the phils and we are established na in AU, considered as income din ba ito?

Andoy31

@TasBurrfoot, ask ko lang if yung bang malaking pera na ipapadala from pinas will be taxable in AU? wondering lang kasi if ever we sell properties in the phils and we are established na in AU, considered as income din ba ito?

Alam ko walang tax, limited ka lang to 10k if more than that u have to declare.

Selling properties is not considered as an income, the gains/tubo mo from the properties is taxable--- capital gains tax.
not sure how much.. Kse ang alam ko may double taxation treaty and ph with au.

TasBurrfoot

@goreo and @mixednuts - not too sure about the taxable part but in my case kasi breakeven (and the other property loss pa nga in peso term) lang so I am not worried here...

mixednuts

noted sir @TasBurrfoot. i'm interested to know kasi kung paano kung meron kang iiwan na investment sa Pinas at kung magdoble o triple after 10-15 years at iremit mo sa oz. kung paano nila i-tax yun. di ka kaya lugi compared to when you rather invest in oz na lang.

anyway pls post yung remittance fee after mo mapadala yung milyones mo sir. thanks