What are the requirements for a foreigner to open an account in hsbc bank philippines?
There is no law in the Philippines that a foreigner must have an ACR to open an account. There is a law (Anti-Money Laundering Act) that requires customers to produce original documents of identity issued by an official authority bearing a photograph of the customer. Examples of such documents are identity cards and passports. There are other requirements such as evidence of permanent address etc. Also accounts can only be opened face to face. As a matter of internal policy a bank has a right to decide its own policies and many require foreigners to have an ACR. They also have a right to refuse to open an account for a potential customer if they so wish. Getting a credit card is even more difficult and even with an ACR and an account at BPI, and Citibank Immigrant Certificate of Registration, (ICR.) Of course an ICR is even better, shows you are a permanent resident. The primary thing that most banks truly want is two proofs of ID (Passport, and other official document, we used Militar
