US Banks in the Philippines

Updated May 16, 2024

There are 3 US banks in the Philippines. All 3 are commercial banks and operating as overseas branches of the US banks. And all 3 are now doing business only for Corporations, Government Agencies and Institutions. Wala na silang Retail or Consumer Banking operations.

1. Citibank, N.A.
2. Bank of America, N.A.
3. JP Morgan Chase Bank, N.A.

WISE is launching the Wise Account and Card in the Philippines! This May 2024
You can now send money abroad from the Philippines.
What’s more? You can now get paid in over 9 currencies. Go here to get started with WISE.

CITIBANK

Citibank has completed the sale of its consumer banking business to Union Bank in 2022. The sale was initiated in 2021 and the transition was completed in the first months of 2024.

In the meantime that Citibank is completing its transition to solely Corporate Banking, see contact info below:

Address
Citi Plaza
34th Street Bonifacio Global City
Taguig City, Metro Manila 1634
Philippines

For Corporate Clients:
+632 8802 6000
philippines.citiservice@citi.com
Mon-Fri: 8:30 – 18:00 (except holidays)

For Financial Institution Clients:
+632 88947222
Philippines.citiservice.fi@citi.com
Mon-Fri: 8:30 – 18:00 (except holidays)

For any concerns or questions relating to consumer accounts that were not transferred to UnionBank, you may send an e-mail to servicephlf@citi.com

Citi Direct chat:
https://citidirectchat.citigroup.net/TTS/RetemUI/#/retemapp/live-dashboard-chats/

Media:
Dorski Granada
Public Affairs Officer
rodora.granada@citi.com

Interested in working with Citi Philippines?
jobs.citi.com/manila

BANK OF AMERICA

Bank of America
Unit 1001, 10th Floor, Ecoprime Tower
32nd St corner 9th Ave, Bonifacio Global City
Taguig City, 1634 Metro Manila
Phone: +63288155000
Email: vincent.valdepenas@bofa.com
Country Manager: Vincent Noel P. Valdepenas

JP MORGAN CHASE BANK

JP Morgan Chase Bank, N.A. 
Address:
25th Floor JPMorgan Chase & Co Tower
9th Avenue corner 38th St, Uptown Bonifacio
Taguig City, Philippines 1635

Phone: +632 8575 1199

Consumer Assistance:
Email: service.ph@jpmorgan.com
Phone: (+63-2)8878 1111 or 8878 1133

Banking information for foreign travelers to the Philippines or those planning to stay here:

• You can use your US-issued debit cards in most ATMs in the Philippines.
• At many ATMs, maximum limit per withdrawal is 10,000 pesos. Maximum limit per day is 20,000 pesos.
  In other ATMs, maximum limit per withdrawal is 4,000 or 5,000 pesos.
• ATM withdrawal fee is 200 to 250 pesos per withdrawal.
• International payment networks honored here (debit and credit cards):
  1. Mastercard/Maestro/Cirrus
  2. Visa/Plus
  3. American Express
  4. UnionPay
  5. KTCP
  6. NYCE
• Bring more than one type/brand of card so you have backup cards
• When traveling to the provinces, bring enough cash in pesos. Credit cards are not accepted in many provincial areas.
• US-issued cheques need around one month to clear here. In addition, you need to have a US dollar account here to which you can deposit your US cheque.
• For US pensioners planning to retire here:
  Here are Direct Deposit account options that you can consider.
• Are foreigners allowed to open a bank account here in the Philippines?
  Yes. Present your passport and ACR-ICard. You will fill up an application form that asks personal information, including your residential address in the Philippines.
  If you have a work permit or student registration card, bring them, in case these are required. Expect some banks to be stricter in their requirements than others.
• Why is it not easy for US citizens to open a bank account here in the Philippines? Most probably because of additional paperwork and reporting duties to US agencies that are implementing and monitoring FATCA. FATCA stands for Foreign Account Tax Compliance Act. This law, enacted in 2010, imposes due diligence and reporting obligations on Philippine institutions.
• Do you live in Los Angeles or New York City?
  There are Philippine banks there: Metrobank and Philippine National Bank
• You can send money online from your US bank account or using your US debit or credit card to your Philippine bank account through these online money transfer companies:
  1. Xoom.com
  2. WISE
  3. WorldRemit.com
  4. SmallWorldFS.com
  5. Remitly.com
  6. ShareMoney.com
  7. LuckyMoney.com
  8. WellsFargo.com
  9. RiaMoneyTransfer.com
  10. Transfast.com
  11. Moneygram.com
  12. WesternUnion.com

I thought Wells Fargo is one of the American banks in the Philippines.

Yes, Wells Fargo has been one of the earliest foreign banks that invested in our country. It supported the financial needs of certain Philippine businesses and projects in the 1900s while operating in Asia, and then opened its banking operations in the Philippines in 2011.

Wells Fargo Bank, N.A. has stopped its operations as a Representative Office in the Philippines in May 2021. Circular Letter No. CL-2021-045

Wells Fargo is known here in the country because of its ExpressSend remittance service from the US to the Philippines. Its remittance partners are BDO, BPI, PNB, Metrobank, Cebuana Lhuillier and MLhuillier.