All about Dollar Accounts and Investments

[Diane]

^ sis di ba mas malaki amount to open in Citi?

try mo sis BPI ATM Dollar Savings.

[helga21]

i opened a dollar account last year, got influenced by my friends who happened to be forex savvy, things that i never understood!! upon reading your posts, there exist such thing as dollar bond fund? now, i need to research on things like bond fund etc. i assume this is way better than an ordinary savings? tia!

[mameejhy]

let's bump...

[birchtree]

Mga sis, aside from Standard Chartered Bank, saan pa pwede mag-open ng Australian Dollar account? I called BDO, BPI, Metrobank pero US$ lang pwedeng i-open sa kanila.

[psyche18R]

@birchtree: HSBC sis. they accept Australian Dollar

[reddiamond]

we want to open a dollar account after we pay our life insurance premiums for this year. what's the best bank to open an account?

[Diane]

bpi for me

[mameejhy]

May nabasa ako sa fb na hindi daw maganda mag open ng Dollar Aount sa panahon ngayon...

[happy_pomelo]

If you already have the funds and have no immediate use for it, I suggest to transfer to
an interest-bearing instrument (of the same currency) and keep it there. May forex losses talaga but paper loss lang naman. 

You might also want to purchase dollar-denominated life insurance (VUL or other types) so you can also have life insurance protection.  Usually US$10,000.00 is the minimum investment. 

[swit_squiggle]

You might want to try sis putting some of your dollars in this investment vehicle. A combination of US and China-centric indices, a Gold Exchange-Traded Fund, and a US government bond index and 125% capital based insurance rolled into one. Capital Guaranteed din ito. A good move for diversifying your dollar portfolio.

Click here for Sun Dollar Maximizer Information

[bigdadis_girl]

we need to open a $ account, is it good with BDO?

[chengsi]

itong gold exchange traded fund, i think kukuha ka na dito ng plan.... then magkakaron ng minimum and dedeposit mo monthly... wanna inquire sana pero i dont want ng i will be oblige to deposit monthly....

hmmm... more inputs please....

[swit_squiggle]

itong gold exchange traded fund, i think kukuha ka na dito ng plan.... then magkakaron ng minimum and dedeposit mo monthly... wanna inquire sana pero i dont want ng i will be oblige to deposit monthly....

hmmm... more inputs please....

Actually sis it's a one time investment, minimum of $8,000. And this is offered by Sunlife only until August 10, 2012 or earlier pa magclose kapag nareach na ang quota na $5M ng company.

What are the Features and how does it work?

1. You can choose where you want to invest your money in a combination of mix Global Assets
a. Gold/Bonds
b. China Indices/Commodities - Agribusiness & Energy
c.  Equities  - US Stocks

2. Capital Protected which means no matter what happen sa market outside the Country, hindi mawawala ang pera mo. Kahit sandamakmak na financial crisis ang maganap. hindi mawawala ang principal mo.

3. Can you withdraw your money? Yes! Definitely anytime, but it comes with a surrender charge starting from 8% in the first year pababa and if you wait until the 7 year. wala ng surrender charge.

4. Asset Protected - The investor is protected 125% of the invested amount. So if you invested $8000 you are covered for $10000. Pano pag lumampas na ang investment mo sa value ng insurance. Whichever is higher at the time of death yun ang ibibigay sa family.

[pret_ty68]

Ok pa kayang mag open nang US dollar account ngayon? Saan kayang bang maganda mag open? May tira pa kasi akong US dollars from my recent trip ayoko naman i convert sa peso kasi mababa palitan ngayon.

[alexandrea]

^ Pareho tayo, sis. I have a significant amount of money in dollars, leftover from my trips. Nakakawalang ganang ipapalit sa peso now kasi maliit ang palitan, kaya balak kong i-deposit sa dollar account na lang.

[happy_pomelo]

I want to share this informative 'article':

Issue No. 39
Series 2012
December 7, 2012



"What To Do with My US Dollars?"
By Don A. Tamayo



Cheers and jeers erupted as the plane landed on Philippine soil. It’s December and the plane is filled with gleeful Overseas Filipinos (OFs) excited to see their families once again. They brought with them their hard-earned US Dollars ready to be spent. But for the penny-wise OFs, the question on their minds is, “How do we maximize our dollars?”

This question has been popping up more frequently with the continued appreciation of the peso. For these dollar-earners, the default is to either deposit or spend them. For some investors the question is, “Do I invest in dollars or do I exchange them to Philippine Pesos and invest in pesos?”

Here are some pointers to consider before you make that giant leap:

1. What is the purpose of your investment?
Knowing the purpose why you are investing is important because it will impact how long you can leave your money invested and where you will invest it. Is the money intended for the planned family travel in the US in a year’s time or is it for the U.S. college education of your seven-year-old child?
 
2. Are you diversified?
The cliché of not putting your eggs in one basket also holds true here. Don’t be invested in just one currency, spread your risks to at least  two currencies.
 
3. What was/is the source of your dollars?
If you earn in dollars, it’s safer to also invest in dollars. This way, there’s no foreign exchange risk. But if you earn in pesos then exchange them to dollars, you are holding on to a currency that is at present, weaker than the former currency you were in.  It is better to exchange your dollars back to pesos which can give you potentially-higher returns.
 
4. Are your future expenses in dollars or pesos?
Assess your future cash flows.  If you don’t foresee dollar-denominated expenses, then perhaps it’s time to consider exchanging your dollars to pesos. The Peso is stronger than ever and is the best performing currency in Asia as of 12/6/12. It has now breached the 40-to-a-dollar territory level because of strong dollar inflows given the country’s strong macroeconomic fundamentals.
 
5. Where do I invest my dollars?
If you are looking for dollar investments, there are a number of dollar-denominated BPI Unit Investment Trust Funds (UITFs) and ALFM Mutual Fund. Whether you are moderately conservative, moderately aggressive, or aggressive, there’s a dollar fund for you.

[letters_to_cleo]

To share lang,  I was at BPI kasi this week and asked for new dollar investment vehicles, eto yung mga inoffer nila:


1. ALFM Dollar Bond Fund (Mutual Fund)  (~meron din silang Dollar Equity at Dollar Balanced)  ~ Min. $500  6 months min. tieup of funds

2. Odyssey Dollar (Tax Exempt) Fund  ~ Min. $5k   This one's for longterm

3.  BPI Philam Invest Plus Dollars ~ Min. $5k

[pret_ty68]

^alin kaya dyan sis sa tatlo ang pinakamaganda?parang interested ako dun sa no. 1.

[yingying27]

Ako hindi naman considerable ang money ko dito. Around $1500 lang ata but i opted to have it changed to pesos.
Nagtira na lang ako para sa maintaining balance ng BDO na $200
 Mukha kcing bababa pa ang exchange ng dollar...

[letters_to_cleo]

^^ Depende sis sa risk appetite mo ah. Ang inopen ko sis is yung

1. ALFM Dollar Bond Fund ~ gusto ko kasi ng bond based na investment pang offset kasi mas safe ito (nakaopen na ako kasi ng equity based accounts, so para may pang offset sa volatility nung equity accounts ko)

2. Invest Plus Dollars ~ Inopen ko sya for my mudra.  Okay sya kasi yung life insurance is 1.25x nung account value, and nilaan ko talaga sya for my mudra.


True, ambaba nga ng dollars, pero kasi severance pay ko yun from my former company so medyo substantial din, and nakakasakit ng loob iconvert sa pesos (eh ambaba ngayong december) kay I decided i-invest na lang in dollar denomination tutal for medium-longterm naman sila, hopefully maoffset nung earnings nung mgavehicles yung volatility ng dollar by the time na kailanganin na sila.