Retire Overseas: Do You Have The Right Debit Card and Bank Accounts

[@mikesphilippineretirement]

Go to surfshark.com/philippineretirement for 4 extra months of Surfshark at unbeatable price.

[@Diablo-mfx]

Many people in the comment are posting wrong info, as if they cannot read simple terms and conditions. Charles Schwab's restriction in certain countries relates to people from that country and they may not open an account. But if you already had the account from another country like the US, then you can use the debit card ANYWHERE in the world. The only problem you will run into is that do not claim the Philippines as your primary address or mailing address or any other country if restricted. This is why they've closed some people's account. But if you have a USA address still, then it's like you're on vacation or a lifetime vacation and no restrictions on that.

[@knockknock1246]

No app on devices, no online banking either. Safety. If there is no ability to transfer from trade to checking unless calling, always reiterate, you should be good to go. Call in. Old school.

[@Amen.22]

⁠​⁠@@knockknock1246app on phone with no SIM card, Wi-Fi only. Use Biometric authentication to login. Let them know that you will be traveling before you leave. Have a U.S. address and phone number.

[@LADETROIT]

Charles Schwab was amazing my last trip. Nothing like getting your ATM fees back at the end of the month. Philippines banks require you make multiple withdrawals if over 200 USD

[@mikesphilippineretirement]

Thanks for the Info

[@mattchapelle5611]

Fidelity also has the same deal as Schwab...

[@paulwerdak5888]

Thank you for the information Mike.

[@mikesphilippineretirement]

Any time!

[@Semiam1]

Mike, having 3 accounts is necessary in case one or two of your cards don’t work for some reason.

[@RickMerryman-o7j]

Superb channel. I’m a world traveler and best banks are USAA and Schwab; both credit ATM fees. In reference to USAA, one has to be prior military or can qualify if immediate family member served in military. I only travel with Schwab and USAA due to security and fees being credited. Navy Federal Credit is very good too; I’ve been a member of Navy Federal 22 years and USAA 30 years; I’m a retired Naval Officer. These 3 banking entities are my go to especially when abroad.

[@dosbaggos5575]

My dad was in the air force 1960; will that qualify me?

[@Amen.22]

I have Schwab and NFCU. I only have car insurance and a credit card from USAA.

[@Amen.22]

I thought that Charles Schwab International would work great. After reading some of the comments. Charles Schwab will close your account if they find out that you’re living in the Philippines. You can have a U.S. address and phone number. They will still find out because they will see that you’re using Philippine ATMs. What’s the solution, in your opinion?

[@RickMerryman-o7j]

First a shout out from Nashville; a great channel. Onward, I would always keep several credit cards as a backup, have PINs set on all and etc. Next, it’s a good idea to have cash stashed in a hotel safe or locked up in baggage under TSA lock. As in Latin/South America, PI ATMs run out of money. I’ve experienced it on one of my past trips to the PI, as well as, Latin America. I always travel with cash on hand and have it stashed. I travel this way all the time. A side note, one asked about charges to credit card always have the transaction in the local currency NOT USD due to the exchange rates being different when your US bank calculates transactions.

[@ArtoriasTheme]

It's not a good idea to keep all your cards locked all the time. You do not want to get in an accident here, your phone gets smashed and then you are trying to get medical treatment but you can't access your money to pay the hospital. No money = no treatment here.

[@mikesphilippineretirement]

Sorry but you should have cash on hand or in a local bank. But you do make a good point

[@PianoMatronNeeNee]

Great video! I’d love to retire in the Philippines. I’ve been all around the Philippines and it’s a lovely peaceful life. ❤❤❤

[@williamburnell529]

Fidelity works like Charles Schwab with less hassles.

[@Amen.22]

I haven’t had any hassles with Charles Schwab.

[@wil4596]

What about Bank SMS codes? Pretty much everything now wants a U S. SMS code.

[@MichaelSmith-hr3be]

I got a Skype U.S. local phone number. It works smoothly with SMS from Fidelity.

[@Michael-xp9ln]

I have a USA phone number. Some banks only message to a USA phone. I heard a few banks will message thru your email account.

[@wil4596]

@Michael-xp9ln yes, Navy Federal credit Union is really good about that.

[@Amen.22]

Use Biometric Authentication to login.

[@billlloyd9755]

Thank you, Mike

[@mikesphilippineretirement]

Welcome

[@HockeyCraig]

You can get a static ip address from some VPNs. Less likely to get blocked when viewing certain sports. Especially NFL games. The static IP address is only yours and not shared.

[@SlimGlynn1]

Do you know if you can use a static IP address overseas to access Draftkings gaming site here in the states?

[@HockeyCraig]

@@SlimGlynn1make sure you get an address that’s in a state that allows gaming with Draft Kings. Also your geo location on your phone can be detected from these sites and ISP’s. So you may need to turn off location services or spoof your location on your phone or computer. You may be able to just use the regular ip addresses to access the Draft Kings site also if you make sure everything else is in order as far as hiding your devices location.

[@Pursersano]

If you are in your own country you cannot even afford to pay your car insurance

[@richardrebelo2653]

vpn is useless nowadays, they blocking you now when they detect a vpn

[@mikesphilippineretirement]

without one I can not get to many of my accounts

[@KensVideoTourz]

Totally agree. Hulu has some stealth way of sensing that you have a vpn, then you get shut out right there on the spot. I tried three different VPNs when I was in.Cebu. None of them worked at all

[@richardrebelo2653]

@@mikesphilippineretirement i was in the Philippines a few months ago, got into some accounts but could not get into others using same VPN. They getting a lot better at knowing when you using these VPNs.

[@Amen.22]

@@mikesphilippineretirementI was able to login to all of my accounts when I was in the Philippines last month. I use a phone with no sim, Wi-Fi only and biometric authentication to login. I also told them that I would be traveling. I have automatic payment setup for everything. I had a VPN but Bank of America wouldn’t let me login until I turned it off. I think it might have been that I kept changing the location from different states and countries. I have a U.S. address from ipostal1 and a US phone number because I plan to move to the PI soon. I’ll stay somewhere close to Manila until I get my SRRV. I like BGC, but it’s expensive. I want to check out Iloilo. Once I establish a home base, I’ll travel around the Philippines and a few other countries, but not too much because I’m not rich and I’m not crazy about traveling once I find a place I like.

[@hexflex-q9l]

What physical bank do you recommend using when in PI?

[@mikesphilippineretirement]

BDO

[@waltgreen8759]

@@mikesphilippineretirement BDO seems to be the gold standard,

[@Amen.22]

@@mikesphilippineretirementI sent money to a friend with a BDO account. Someone was able to access her account and purchased a new IPhone. The bank was able to track down who it was, but they refused to reimburse the money.

[@Amen.22]

You need to be living in the Philippines with a local address and phone number to get an account in a Philippine bank. Do some research to see which bank is easiest to open an account. BPI I’ve heard is good.

[@gordonstephen8329]

I have ipostal1 and use chase bank and capitol one. I have paperless(all email) so would i need to change address?

[@mikesphilippineretirement]

add Ipostal1 as your mailing address

[@TravelingTexan23]

USAA only reimburses $10 of ATM fees a month and has a 1% foreign transaction fee

[@Life_In_The_Philippines]

Hi Mike! Thanks for the great info like always. Just one question though…. I will need an address before we move to the Philippines in April.

[@Life_In_The_Philippines]

Sorry. You said you have a mailing addrsss through Postal 1 , but what about a home address… don’t banks and your SS need that, not just a mailing address? Do you give them your home address there? Thanks again

[@mikesphilippineretirement]

HOW TO GET YOUR MAIL BACK HOME CHECK OUT iPostal1 The Complete Digital Mailbox a href="ipostal1.com/?ref=3647" target="_blank"

[@Amen.22]

⁠@@Life_In_The_PhilippinesYou can use ipostal1 as your home address. Just put the address but don’t put box number. Write the box number as something like, 222 your st. Number (your box number) or apartment number as your box number. Just ask the people there how to use it as your home address.

[@MichaelSmith-hr3be]

​@@Life_In_The_Philippines: There's no need to change your home address of record at your banks. They'll send all mail to your virtual mailbox. For new cards, if it doesn't reach you via iPostal or a similar service, just call the card issuer and tell them you're vacationing abroad. They'll cancel the mailed card and send a new one to your local address abroad. Fidelity sends by courier. I don't know about regular banks. I'll probably just use the bank notices of a new card to plan a trip back to the U.S. starting around the time it will likely arrive at my U.S. mailing address. Or I may just report a card lost at the start of any 3-4 week trip back.

[@linkinemerson8620]

This is 90% and ad. But still bits of help, I've heard a lot about Schwab and I person have a massive issue with all banking systems...but that's a different rabbit hole. They seem like a top option and I may look into opening a USAA account. I closed mine down cuz I never used it anyway but that was before planning this move. Lastly good for me I am back to not caring about NFL or sports smand I don't really like any streaming service. I am a very huge promoter of owning your physical media. There has been a massive shift in making people not only have to pay monthly subs to just have access to view something they never own, but you obviously need constant Internet access and accounts with your personal information all setup also. Do your thing Mike, I know how to take and leave advice brother 🤣😆

[@MikeMuniz615]

What do you think about PNB and HSBC? Both have branches in the U.S.

[@mikesphilippineretirement]

I don't use them

[@kennethsimoneau6367]

Mike, what about trading cryto currency in the Phillipines.

[@mikesphilippineretirement]

good luck

[@Amen.22]

It doesn’t matter where you are. People are getting their crypto currency stolen. It’s called harvesting, or something like that. I don’t trust it, at least not yet.

[@dantheman11121]

Hey Mike,can I ask you what you do if your credit card expires overseas and you obviously need to renew,will “I postal” forward your new cards??? How do you resolve this issue?

[@Medic-lx1ne]

Sponsor? Next you'll have paid memberships lol

[@kenrice]

Wells Fargo Military Banking reimburses you for six ATM withdrawals. Must be active or retired US military,

[@mikesphilippineretirement]

Thanks for the info

[@chopciriacruz6030]

Speaking of Charles Schwab .. if I use a friend’s address in the USA.. will that work for CS ?

[@stevedice5963]

until they see all your ATM withdrawls in the Phillipines, wont be hard for them to figure it out.

[@chopciriacruz6030]

@ true CS will freeze your account if they found out you’re living outside the USA 🇺🇸?

[@chopciriacruz6030]

@@beachkid1 thank you Sir 🙏🏼

[@stevedice5963]

@@chopciriacruz6030 a lot of banks do that. Schwab will work with you in certain countries see list at thier website

[@napoleonmdusa8877]

It should work fine--if questioned, just tell them you are renting a room at your friends house.

[@Charles-rd6ku]

I'm capital one please folks make sure you have it activated before getting over here. If you don't have a us telephone number and stuff capital one will not allow you to download the app. They told me on the phone that united states was on a restricted something in the philippines.

[@American_Mike]

250PP about 4USD withdrawal fee!!! That is more than many ATMs in America.

[@waltgreen8759]

we are alarmed about $4? seriously?

[@American_Mike]

@@waltgreen8759 Cost of Living... that is the same as an ATM withdrawal fee of around $20 USD.

[@MichaelSmith-hr3be]

It's only for foreign accounts. Local bank card fee is 19php.

[@American_Mike]

@ Oh ok that makes much more sense. Thank you for clearing that up.

[@Amen.22]

If you have Charles Schwab those fees will be reimbursed. You can check others too, such as Fidelity.

[@edwardaguirre3503]

Geez, what about Bank of America, or Chase bank.?

[@Charles-rd6ku]

Chase bank is fine that's mine for 3 years! By the way there's a chase bank for businesses only up in manila. If you're just an individual you can't have an account here with them you have to get the account back in the states

[@roverdover4449]

Congrats on the video sponsor! You've got a great channel.

[@mikesphilippineretirement]

I appreciate it!

[@thomasboutin6045]

My Samsung S8 is NO LONGER ACCEPTED by Chase bank or my Schwab

[@Amen.22]

The Samsung S8 is no longer receiving any security updates or any other updates. Samsung has taken the S8 series off its list of supported devices in 2021. You can also search how to change network mode to 4g on your phone. It might be on 2g or 3g. You need a newer phone. I have a Samsung S20+ 5G. However since your phone is no longer receiving security updates, it would be better and safer to get a newer phone. I would stay with a Samsung phone. Many of the phones available in the Philippines and other countries have 2 operating systems, android and their own operating system. For example Vivo has android OS and funtouch OS, built in.

[@thomasboutin6045]

@Amen.22 i appreciate your advice and guidance on updating my phone. Scary stuff when I am not a techno whizz and at 71 getting challenged

[@RollinCoco-Nut]

Great information, Mike, thank you. Go, Bucks ... Beat the Irish! #Natty2024 🏆

[@mikesphilippineretirement]

lets hope. I have a good feeling about the game

[@marcrichard7251]

Hey Mike sometime can you do the I postal one? Can you show us what it looks like? You can cover up your personal stuff but I just would like to see what it looks like and how easy it might be to use cause I’m thinking about signing up for it before I leave the USA I hope you read this. Thanks.

[@Scotty2hotty-xc6gi]

I second this motion would love to hear more about it Thanks in advance, Mike

[@tillthebreakofdawnyo]

@@marcrichard7251 me too please!!!!

[@mikesphilippineretirement]

kzbin.info/www/bejne/hpKTZ3Rqmsejqassi=Iah4phmFPw0Wv-7X

[@tombkk1322]

I’ve been with I postal for 8 years. Has been very good to me.

[@marcrichard7251]

Thanks Tom

[@tillthebreakofdawnyo]

Hi mike, great video!! How do you connect a VPN to your smart TV? I keep hearing get a VPN get a VPN but I'm not sure how you connect or go through your VPN on your smart TV to watch your American Netflix or Paramount or max.

[@kellyherrick2669]

I use a firestick and then download your vpn app on the stick- the major vpn services all have apps. Once logged in the first time it's seamless. Only issue I've ever had is You Tube TV occasionally "finds" the vpn and just have to change the city location.

[@KelvinWilson53]

@@tillthebreakofdawnyo you need tofirst check if your router is a vpn enabled router. Provider should tell you that. If it isn't then you can buy a second router and piggy back of your original router. Im no expert but i remember seeing it done on utube.

[@KensVideoTourz]

I tried using three different VPNs to connect to Hulu when I was in the Philippines. I couldn’t get any of them to work and I was locked out of Hulu instantly. They clearly knew that I was using a VPN somehow.

[@Amen.22]

I solved that problem years ago. I haven’t watched TV for about 20 years. I didn’t see any sense in paying a cable company so I could watch advertisements.

[@red-hat-mike]

Mike, 1st time I listened thru a Surfshark embedded ad. Your explanation was clear on the usage. I will consider using it when I travel. Thanks

[@mikesphilippineretirement]

Thank you

[@lazylarrylee2421]

Mike, I plan on using one of the Military Credit Unions.

[@mikesphilippineretirement]

good choice

[@jamesP9566]

I use Navy Federal CU.

[@anthonynorris1016]

I am so glad Surfshark.

[@mikesphilippineretirement]

They are good to me

[@anthonynorris1016]

@mikesphilippineretirement during covid I had someone hack me while in the 🇵🇭. Which was a challenge..being that my credit card to book a flight got compromised. Diligently wath your accounts online for sure.Surfshark is the best value...and most affordable...

[@lled23]

Mike That is great Info. I'm Canadian and planning to retire to the Phils soon. I have been to the phils 5 times over the years. I have questions hehe. Debit cards, credit cards expire and often you need the physical plastic for renewal. Drivers license needs annual renewal, some times with photo. Passport expires in 10 years or less. How do you deal with this ? Can you open a bank account in the phils and transfer cash ?

[@mikesphilippineretirement]

Glad it was helpful! yes you can but you need to be here. I will address the questions you asked in my next members video. You should join and get so much basic info for people who really want to move to the philippines

[@jsully4064]

Thanks for the great info, Mike...Jim

[@kennyl.TheSilverJewelryGuy]

what about chase bank, are they any good

[@sethdaggett6306]

Charles schwab also says they dont work with the Philippines. If they catch it after 6 months they told me they will close your account and send your money back to you.

[@stevedice5963]

Phillipines is a "no fly " zone for Charles schwab. look around the website you will see a listing of countries they want to deal with.

[@napoleonmdusa8877]

Yep, Charles Schwab told me the same thing. I have a brokerage account with them that includes a checking account with debit card and ATM fees paid back. Maybe having a fixed IP (available with some VPN packages, including SurfShark & some others) would fix this issue since that IP address would always be the same and it's a private IP address based in America.

[@Diablo-mfx]

Please read things carefully prior to spreading wrong information. You are 100% wrong. You cannot OPEN an account in certain countries or use them for mailing address. If you already an active account you can use their debit card anywhere in the world.

[@napoleonmdusa8877]

@ wrong! I've already talked directly with Schwab and what you say is true for 6 months (think traveling for 6 months) but not permanently living there & having a brokerage account with a checking account attached & debit card.

[@sethdaggett6306]

@Diablo-mfx i get my information directly from the international department that deals with this. You can use the card and get the reimbursement for that card but after a 6 month stay they consider you living there and that is what happens.

[@vmaxrydr1]

Why do you have multiple US banks? Multiple credit cards? I am sure there is a back up plan but you mentioned 3 banks, Please elaborate. Great info.

[@RetiredArmy2012]

utube and facebook have been around for years we all know why-get that passport and you will find out

[@napoleonmdusa8877]

Having 3 banks is my plan with one being a backup that I rarely (if ever) use. This last thing I want to happen is have my bank(s) inform me that they see too many transactions to the Philippines and lock me out of my account(s).

[@Amen.22]

@@napoleonmdusa8877Check out Charles Schwab International. They have support for expats. There’s more information if you search.

[@RealGaryGibson]

VPN's are a great way to access US sites. If they detect that you're using a VPN, sometimes you can just change the connection city to get it to work. Generally if the VPN service is using a newer IP number, then they can't recognize the VPN.

[@mikesphilippineretirement]

That’s a good tip. Thanks!

[@bmiller8735]

Thanks Mike!

[@Ndav682]

awesome video!

[@mikesphilippineretirement]

Glad you liked it!

[@bamboo6044]

How can you stay at quest hotel the noise from the road between hotel and Ayala is crazy, beeping all day long and whenever ambulance passes by at night wakes me right up, maybe I had a room with the worst sound isolation?

[@mikesphilippineretirement]

I like the quest noise is not a problem for me anymore

[@ruscocor]

GREAT VIDEO

[@mikesphilippineretirement]

Thank you

[@Magnus055]

Don't bank at wells fargo

[@mikesphilippineretirement]

I have no problems with them

[@tillthebreakofdawnyo]

Another question I had about Banks is if you have to have an American address then how do you go about telling them that you're going to be in the Philippines always and your address isn't the Philippines. Most banks will stop transactions or block your card if you are not in the country where your address is.

[@peteranik4140]

PNC allowed me to keep my American account when we moved to live overseas and lists our overseas address as our home address.

[@mikesphilippineretirement]

In one of my channel members video I talk a lot about that.

[@napoleonmdusa8877]

Some credit unions might be more flexible on this. My credit union appears to be OK with me using an address in the Philippines. Another possibility is to try switching to using a virtual mailbox address in the USA as your domicile address since all your mail would come to that address.

[@MichaelSmith-hr3be]

That can't be correct. Embassy staff, military personnel, business executives, visiting scholars at universities, and all kinds of skilled workers on long-term assignments overseas do not have to be in the country of their home or mailing address of record (U.S.) at their bank to keep their account open. With online everything nowadays, nothing needs to go to a mailing address, except new cards. That's where a little care and creativity is needed, but it's not an insurmountable problem.

[@allen9129]

A VPN is really important. I have been to HK many times and after I returned home my whole family started getting calls, texts an more from a HK area code.

[@tradergeo6047]

I bet you use surf shark von lol

[@Gregory-Masovutch]

I have Philippine credit cards and bank accounts. My asawa as well. Had once a BDO loan we paid off.

[@mikesphilippineretirement]

and?

[@philipjanek3864]

Im not gonna say anything, except I made it back to civilization Vietnam FTW 🇻🇳

[@mikesphilippineretirement]

a man lost in asia

[@FritzBerlin]

Typical KZbinrs are always begging for donations. And now they're even stingy enough to pay for a subscription to Yellowstone? If you're not willing to pay the fair price in life, you don't deserve a fair price yourself, bad karma finds you!

[@RetiredArmy2012]

and you are a typical talking crap and making no sense

[@mikesphilippineretirement]

Typical Troll welcome to my channel and thanks for watching