Dollar Account

[Scud]

All deposits (dollar or peso) are taxable. Always compute for net interest by multiplying your interest earned with .80 so you get a picture of the actual gains of your dollars.
If you want access to your dollars within the year, the 30 or 60 day time deposit should work best for you. At PSBank (a Metrobank subsidiary) it's 2.5% for 1,000USD (30 days). Â*(I don't work for PSB)

Let me correct something from the info posted above: witholding tax rate on interest earned by dollar deposit accounts is only 7.5%. It is the interest on peso deposits that are taxed 20%. So to derive net interest after tax, multiply the gross interest earned by your dollar deposit by .925% and not .80%.

[thresa]

Besides the bank there are also other financial instituions that offer investments iin dollar denomination. As mentioned there is the mutual fund and there is also a dollar account in the life insurance, where you get investment and protection in one. it also factors in inflation... this might be helpful info for those wiith dollar accounts. bdw inflation is at approximately 7 %, so your investment must be higher than the inflation rate.

[untitledhero]

bro asa ta maka incash sa dollar check dri cebu.. kanang pinakadali ma incash bro.. plz help ....

[Scud]

brod its almost impossible for you to encash a dollar check in a bank or moneychanger be it in cebu or anywhere in the phils. Basta it is drawn abroad bisan demand draft, treasury warrant or cashiers check pa na labi na if personal check, i deposit ra gyud na sa bank and wait for a one month clearing period. Niadto, may mga moneychagers nga isog mopalit ana but they have learned their lessons. napaso sa mga checks nga mo bounce, checks nga fake/spurious nya di na makit an ang tag iya. Although right now, kung naay mo guarantee mo bayad in case there is a problem with the check and he is known and trusted sa moneychanger, there is a good chance paliton nila ug barato. In banks sad, if you have substantial deposits nya kaila ka sa management, they may also purchase your check up to a certain amount. Kung dili brod, i deposit ra gyud na sa bank. Next time ayaw na kadawat ug check, ingna cash na lang ihatag or i pa telegraphic transfer nalang para magamit dayon nimo..

[untitledhero]

tanks bro...

[toei]

naa man sa ALCO FOREX INC. dha sa Raintree Mall.. tel. nos. 255 2704/ 254 9608 they will in cash cheques from abroad.. just be sure nga orig ang mga cheques ninyo nga inyo e incash kay basin pusilon mo sa guard nila kng peke.. hehehehehehhe