bank account in the Philippines

by richard
(saville)

Hi

Excellent site - really informative and easy to read.

I'm thinking of retiring in the Philippines and was wondering how simple it is to open a bank account.

I would probably keep an account in the UK, but would want to transfer the bulk of my savings to The Philippines to avoid the risk of currency movements.

Do you actually need to have a residency visa before you can open an account?

Many thanks.

Kind regards.

Richard Saville