BDO's Q1 profit down 10% on trading, forex losses ...
BDO Unibank - Banco De Oro
[REVIEW] My First Haul
PK BASF YEEZY BOOST 350 V2 CLAYS
Seller: Vicky Payment Assistance: Zendrian Global Trading Shipping Agent: Zendrian Global Trading
January 5 – Inquire the availability of the shoes and its price in CNY from Vicky’s WhatsApp. January 6 – Paid Vicky through Zendrian’s payment assistance. January 7 – Vicky gave the QCs through WhatsApp January 8 – GLed the pair then Vicky shipped immediately that day. January 10 – Received by Zendrian warehouse in China January 17 – Zendrian told me that the package is now available for pickup.
Verdict Seller: My first pair from her. Sobrang bilis niyang mag-reply sa mga inquiry ko. Straightforward lang naman transaction namin. Tinanong ko kung available, price and to be shipped domestically. After that, siya na nagtatanong ng info needed for those. Gaganda ng PK BASF niya imagine GL agad first QC. One more thing, nakadouble box nung sinend niya kay Zendrian. I would love to buy again from her in the future. Payment Assistance: Mas mura rate ni Zendrian Global Trading kesa SWK. Anyway, mabagal mag-reply and if possible dapat lahat nagawa mo na kung makikipagtransaction ka sakanila like nahulog mo na sa BDO account yung bayad mo and nabigay mo na Alipay account ng seller mo. Since sila palang naman available na murang payment assistance, I would definitely use their payment assistance again in the future unless may bago silang contender. Shipping Agent: As you can see, almost 7 days bago ko nakuha yung package ko. Medyo pricey with average shipping time and a bad CS. Yung iba 1.5kg yung 1 pair nila sakin 2kg (Yeezys and double boxed din), seems like inconsistent yung weight calculation nila. Paswertehan nalang siguro kung maka1.5 ka or 2kg per pair. Anyway, with this experience, I will not use them again as shipping agent.
Price Calculations: Shoes – 520CNY Payment Assistance – 7.3946 (BDO Forex) x 1.015 x 520 = 3,903 + 200 = 4,103 PHP Shipping – 800 PHP / kg x 2 kg = 1,600 PHP + 244 PHP (Lalamove) = 1,844 PHP Total = 5,947 PHP
January 6 – Order made in Ytaopal website January 7 – Ytaopal paid the seller (BMLIN) January 10 – Received by Ytaopal. Gave me their free QCs January 13 – Shipped by Ytaopal to SWK’s warehouse in China January 15 – Received by SWK in China January 17 – SWK told me that the package is now available for pickup
Verdict Shoes: Ganda ng shoes. It feels great on-foot. However, may mga imperfections lang siya like hindi magkapantay yung stripes and yung pagka-angle niya sa likod ng sapatos. Pero for the price, good quality na siya. You get what you pay for naman. Ytaopal: Limited yung CS nila which is available only from 9:30AM to 6PM. Also, it’s not available ng lunchtime 12:00PM to 1:00PM. Napakadaling mag-order sa site nila dahil din siguro sa gumawa ng guide (thanks to you!). Anyway, ayoko lang medyo panget yung packing process nila dahil siguro libre lang. Nilagay lang nila yung bawat sapatos sa isang bubble sleeves (4 bubble sleeves in total) then with outer layer na plastic. (for reference) Their CS is not that bad and not that great, but they can do things naman. Like nagrequest ka for QCs this day, expect it na makukuha mo na the next day. Anyway, when it comes to purchasing sa Yupoo, I’ll use Ytaopal again dahil mababa lang fee nila (4%). Shipping Agent: Halos same CS quality lang sila ni Zendrian but wow, grabe 2 days lang nasa Pinas na agad yung package ko. Yung package in good condition naman, walang sira or whatsoever. Anyway, I would use them again in my next haul dahil napakamura ng rate nila compared kay Zendrian kahit na medyo inconsistent yung shipping time.
Price Calculations: Shoes – 180CNY (Static Reflective) & 160CNY (Trueform) = 340CNY Domestic Shipping – 30CNY (BMLIN to Ytaopal) + 55CNY (Ytaopal to SWK) = 85CNY Ytaopal’s Additional Fees – 340 + 85 = 425CNY x 1.04 = 442CNY Payment Assistance – 7.3946 (BDO Forex) x 1.015 x 442CNY = 3,318 PHP + 133 = 3,451 PHP Shipping – 580 PHP / kg x 1.5 kg = 870 PHP + 132 PHP (Lalamove) = 1,002 PHP Total = 3,451 + 1,002 = 4,453 PHP
GUCCI ACE BEES EMBROIDERED SNEAKER
Seller: Jin (Yupoo) Shopping Agent: Ytaopal Payment Assistance: Zendrian Global Trading Shipping Agent: DHL
January 6 – Order made in Ytaopal website January 7 – Ytaopal paid Jin January 13 – Received by Ytaopal. Gave me their free QCs January 15 – Shipped by Ytaopal to DHL PENDING –
Withdrawing USD Funds from Philippine-Based Paypal Account Using TransferWise Borderless Account
This is a response tou/sgicruz*'s post:* Best way to receive USD payment into a USD savings account?I created a post since this is a bit long comparison. If you are transferring large amounts of USD from Paypal (i.e. >USD 2,000 at a time), you are forced by Paypal to withdraw in PHP, since you cannot withdraw USD directly to Philippine-based USD accounts. Instead, you can use the TransferWise Borderless Account. The Borderless Account allows you to hold multiple currencies on the account, and also provides USD US Bank Account details (also GBP, Euro, AUD, NZD) which can receive funds via local ACH (automated clearing house). Paypal can withdraw USD funds via US ACH. (There is a verification step before being assigned bank account details: see footnote at the bottom of my post)* For comparison, below are three scenarios:
Total fees: PHP 200 (for USD 2,000 sample computation) (Note: if you use GCash, I think total fee is always PHP 0, subject to wallet and transaction limits) Exchange Rate (sample for May 8, 2020): 1 USD => PHP 48.9414 Net PHP received thru bank: PHP 97,682.70 (BDO) or PHP 97,882.70 (GCash) Paypal's PHP-USD buy/sell spread is horrendous at around ~3.0-3.5% compared to the mid-market rate. But this is still a valid option if (1) you are withdrawing small amounts, or (2) you need instant access to cash. --------------------------- 2. Paypal -> (Withdraw to US Bank Account) -> TransferWise Borderless Account -> (Send USD via SWIFT) -> BDO USD Savings Account Associated fees (sample computation for USD 2,000):
Paypal withdrawal from USD balance to US Bank Account = USD 35.00 (flat fee)
TransferWise fee for USD transfer over SWIFT = USD 1.40+3.20 = USD 4.60 (flat fee)
SWIFT intermediary/correspondent bank fees = USD 15.00 (flat fee, but can vary from 0-60 USD depending on route taken and on int'l bank relationships your local USD bank has)
BDO Incoming SWIFT Remittance = USD 5.00 (flat fee)
Total fees: 59.60 USD Net USD received thru bank: USD 1940.40 If your ultimate goal is to get the funds in PHP, we can try exchanging the USD to PHP via BDO Exchange Rate (sample for May 8, 2020): 1 USD => PHP 50.0000 (BDO USD Buy rates) Net PHP received thru bank: PHP 97,020.00 There are a lot of fixed fees, so this will only be economical for large amounts of USD (probably >USD 3,000). In addition, BDO's PHP-USD buy/sell spread is around ~0.5-1.0% compared to the mid-market rate. Paypal withdrawal to US bank account takes around 1-2 banking days, while SWIFT transfers take around 1-5 banking days. --------------------------- An alternative is to send PHP directly from TransferWise. This is cheaper than Paypal or even the USD route described above. This is because TransferWise's exchange rate uses the mid-market rate, and they have transparent fees. In addition, TransferWise -> Local PHP Savings Account settles in minutes, as opposed to the SWIFT USD transfer above (which can take anywhere from 2-5 banking days). 3. Paypal -> (Withdraw to US Bank Account) -> TransferWise Borderless Account -> (Send PHP via ACH [this means Bancnet]) -> Local PHP Savings Account Associated fees (sample computation for USD 2,000):
Paypal withdrawal from USD balance to TransferWise US Bank Account = USD 35 (flat fee)
TransferWise fee for PHP transfer over ACH (Bancnet) = USD 12.01
Total fees: USD 47.01 Net USD for conversion: USD 1952.99 Exchange Rate (sample for May 8, 2020): 1 USD => 50.4800 PHP Net PHP received thru bank: PHP 98,586.93 Paypal withdrawal to US bank account takes around 1-2 banking days, while TransferWise USD-PHP ACH (Bancnet) settles in minutes. --------------------------- *To receive your own USD bank account details, you're required to "Add Money" at least GBP 20 or its equivalent (maybe USD 25). This is their verification requirement. I recommend adding money using Visa/Mastercard Debit Card: TransferWise has around 4.5% fees for the Debit Card Add Money option, so it's going to cost around ~PHP 60 in fees. I recommend using CIMB ATM card if you have, since they currently (as of May 8, 2020) do not charge forex conversion fees. If not, any Visa/Mastercard debit card will do (including BDO Visa ATM cards). --------------------------- TLDR; For relatively small amounts, withdraw directly from Paypal to PHP bank account. Best choice is Paypal -> GCash (no inward remittance fee). For larger amounts, withdraw USD from Paypal to TransferWise Borderless Account, then send PHP via ACH (Bancnet) to Philippine PHP Savings account. But if you want to keep the amount as USD: withdraw USD from Paypal to TransferWise Borderless Account, then send USD via SWIFT to Philippine USD Savings account.
Credit Card Foreign Txn Conversion Rates (RE: Changes to Citi's Card Agreement and sane alternatives)
2 days ago, Citi Card users were greeted with changes on their agreement effective December 1, 2019. One thing that is glaring to me is the "clarification" on converting transactions charged in foreign currencies:
For transactions in foreign currencies other than US Dollar, the amount will first be converted to US Dollar before being converted to its Philippine Peso equivalent.
I'm certain that before I left the country, I knew their 3.525% fee and there was no mention of converting from other currencies to USD, then to PHP. Whether this was intentionally done to screw their users over or not, this changed my opinion of ever using Citi Cards for Forex Txns, especially that I'm out of the country and rely on cheap exchange rates. I have another card with BDO, it says that they have a 1%+1.25% FETF. It is not certain though that they directly convert from other currencies to PHP directly, which I will clarify tomorrow. Anecdotally, BDO and Citi has lows and highs with their FETFs, but has ill-explained transparency of the exchange rates. So what do you guys think of this? Should I dump all my expenses to BDO? or both banks are just as the same and there's no real "cheap" alternatives? Citi is supposed to be a larger bank, but they're charging 3.525% over BDO's 1%+1.25?
I tried to search this space and cannot find any info so I guess wala pang nakakapag open up nitong topic na to. I found a broker named iqoptions which allows you to invest/trade in forex, crypto, etf, stocks in nasdaq and nyse. I am thinking of trying their powershares qqq which is same as the nasdaq-100. They also have the s&p500 but its too expensive for me. Theres a deposit option via bdo/metrobank and credit/debit card. Anyone have any idea or may naka try na ba nito? Any thoughts?
let's share our credit card arsenal and how we use them. include caveats and tips.
*Rcbc bankard black platinum mc. Used for free lounge access in mnl t1 and t3. If you use lounge at least 3 times a year, even if you pay annual fee you still win. do not use on non peso purchase, they will shaft you. do not use for domestic airfare, no insurance. do not use to pay taxes, they will take 1%. *bdo visa gold. has travel insurance even for domestic airfare. occasionally has cash rebate on minimum purchase promos. low minimim annual spend for waiving fees. 3 year korea visa. *hsbc red. generous credit line. 1 roundtrip pal domestic free at first P5k spend. *security bank gold mc. no forex fees. use this for travel abroad or any non peso purchase. *bpi blue mc. piece of crap and if you need support via 89100 it is mission impossible. just kept for the first year free to add to total credit line. not to be used.
Need to load up your Steam account? Maybe I can help. :)
Hi, I'm not sure if selling or trading in this subreddit is allowed, but since I saw some people asking on how to load up their steam accounts, I figured I can help. I used to be a very active Team Fortress 2 unusual trader, and though I am not as active now, I still have some TF2 keys for sale. How will this help you? Each key can be sold in the market for $2.40 - $2.49 each -Steam Market-, which, after taxes, might give you around $2.20 in proceeds which you can use to purchase games in Steam. So yeah, in short, I am selling TF2 keys, (or Dota 2 keys or CSGO keys) for 80 php each. Right now, I have around 50 keys up for sale. Payment options will most likely be through bank transfer or deposit. I have a BPI and BDO account, details will be sent via PM if interested. Here are my steam profile and my tf2 bp: http://steamcommunity.com/profiles/76561197992867223http://backpack.tf/profiles/76561197992867223 I will appreciate good rep on your part, but if you are new, an old reddit account with good history might be enough. I might also limit trade transactions to a few keys first to test rep and avoid big losses. That's it I suppose. As I said, I just got this idea when I saw people having a hard time loading up their steam accounts. And I suppose 80 php = $2.20 is a better deal than topping it up via credit card or paypal due to to forex rates. If this kind of post is not allowed, (though I already checked the subreddit's rule in the sidebar, and it states nothing about this) then please feel free to remove it. Thanks! and Mabuhay PH gamers!
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