Top Ten Philippines Foreigner-Friendly Financial Institutions

Banks and Financial Institutions

1. HSBC
   HSBC is highly regarded as one of the best international banks in the Philippines, offering accounts specifically designed for expats[4]. It provides a wide range of services, including local accounts, international transactions, and currency conversions[3].

2. Citibank
   Citibank is popular among the expat community, offering excellent service, functions, and reliability[4]. It provides free withdrawals from any ATM in the Philippines and 13,000+ Citibank ATMs worldwide[5].

3. BDO (Banco de Oro) Unibank
   As the largest bank in the Philippines, BDO offers a wide range of services including savings accounts, credit cards, and US dollar accounts[6]. It’s known for its extensive network of branches and ATMs[1].

4. Security Bank
   Security Bank is very foreigner-friendly, even for those on tourist visas. They offer a selection of accounts, including credit cards, that are completely fee-free[3].

5. Bank of the Philippine Islands (BPI)
   BPI offers a variety of accounts, including checking and savings options. They have a user-friendly mobile app and an extensive branch network[6].

6. Metrobank
   Metrobank provides a range of savings, checking, and time deposit accounts. They’re known for their foreign currency savings accounts and cashback perks[6].

7. Philippine National Bank (PNB)
   PNB is convenient for those who rely more on checks than cards. It’s considered one of the best banks for checking accounts[1].

8. UnionBank
   UnionBank is particularly useful for those who deal with international transactions and use PayPal for their operations[1].

9. ING
   As a digital bank, ING offers a fully online banking experience, which might be attractive to tech-savvy foreigners[6].

10. CIMB
    Another digital bank option, CIMB provides online banking services that may appeal to foreigners looking for modern banking solutions[6].

These banks offer various services catering to foreigners, including multi-currency accounts, online banking, and international transfer services. However, it’s important to note that requirements and services may vary, so it’s advisable to check with individual banks for the most up-to-date information[1][3][5][6].

Citations:
[1] https://movetoasia.com/en/philippines/bank-account-card/
[2] https://wise.com/gb/blog/opening-a-bank-account-in-the-philippines
[3] https://www.reddit.com/r/Philippines_Expats/comments/159pq2i/best_ph_bank_for_expats/
[4] https://www.expatforum.com/threads/which-banks-are-best.1528055/
[5] https://www.investopedia.com/articles/personal-finance/042415/expats-opening-bank-account-philippines.asp
[6] https://www.investasian.com/offshore-banking/philippines-bank-account/
[7] https://www.euromoney.com/article/2dilnn7ar4r4yudc7nbb4/awards/awards-for-excellence/awards-for-excellence-best-international-bank-in-the-philippines-hsbc