Most people think nothing of opening a new bank account. Go to the bank, present ID, and leave with a new bank account. Simple

However, I am in the Philippines as a Canadian citizen and in this instance I can assure you that things are different here. Not so different that it is impossible or totally unfamiliar but more that there are little differences that can take you by surprise if you aren't aware of them.

FIRST:

Visitors don't get bank accounts.

If you are just a tourist passing through? No bank account for you. Yes, that is kind of annoying because some things are just easier when you have a bank account. Most tourists won't care. They are just in the country for a short time. They bring enough foreign cash to pay for their stay and the money changers make that easy.

Or you can just use a bank machine and take out foreign cash.

Now many people may just say why not just use credit card or bank QR codes? As a Canadian I am very used to just reaching in my wallet for my VISA card (With AMEX and Mastercard as backup). When I was in Indonesia I saw so many people using QR codes and I believe those are becoming more common in many countries.

In the Philippines cash is king so make sure to have a fat wallet while vacationing. But I digress.... :)

BUT :

I'm not just any tourist though. My wife is a Filipina and I have family here. I also have a house here which is on the cusp of getting finished. Indeed, right now I'm writing this in my bedroom.

Having a bank account so I can transfer money to my family without using foreign remittance would be really nice. Having a local bank account so I can do direct transfer's to workers or suppliers would be really nice. However, the biggest reason I want to have a bank account is something far simpler. Topping up my cellphone

SECOND :

The cellphone is more important than you think. It is cheap and easy to get a foreigner SIM card when you arrive in the Philippines. Every airport seems to have multiple vendors who will take your money and get everything setup and ready to go. Then when you have a number its easy to sign up for things like Viber, Whatsapp, and even banking things like GCASH and MAYA.

I did just that when I came to the Philippines one year. When I came back to use my GCASH balance I had to do 2FA. However, my phone number was inactive so I couldn't get the code. Getting my phone number back? Impossible. Accessing my GCASH or even just forfeiting it and starting again? I'm going to say VERY HARD because I haven't been able to do it.

With a local bank account I can just sign up for mobile banking and autopay my prepaid SIM every week or month and keep my service active indefinitely. I don't need a big top up (could be as little as $0.25 (25 cents). Without mobile banking top ups become much more of a pain. Yes, I did just find out about the DING app which allows for top-ups but their minimum value is P100 and they charge a P40 fee on top of that.

THIRD

Stay 2 months and you can get an Alien Certificate or Recognition (ACR) card. That card will allow you to open a bank account. Unfortunately you are eligible after 2 months but it could take a few weeks to arrive so make sure your VISA is good for 3 months. However, you can't get 3 months as a visitor to start, you have to get a one month VISA. Then do a one month extension. Then apply for a longer VISA after that.

It was kind of annoying but I did that last year. Horray! I got a bank account last year.

Time to get an ABM card

FOURTH

No Filipino cellphone means NO debit card. Now that seems very odd to me and there may be around it but not at the local branch that is for sure. Which meant going to the local mall to buy a phone and get a new Filipino number. Except no tourist savvy vendors here so they would not allow me to get my own number. My brother put his name on the account (shhh) and now I was good to go back to the debit card.

Fifth

A debit card costs money. 150 Pesos. That was surprising to me. In Canada you open an account and you get the card given to you for free. Simple. Here? I had to fill out paperwork and pay a nominal fee for the card. No big deal but it was unexpected.

Sixth

I paid. Then I waited and waited. Probably half an hour. When the card comes? It isn't brought out from the backroom. It is in a sealed envelope and I have to sign a paper saying I received it unopened and untampered with. Overall it took an hour from entering the bank until walking out with the card.

Impression?

• It was hard to know where I was in line. In Canada everyone lines up and waits their turn. Here? I saw a bunch of people sitting. Presumably to wait their number to be called, except there was no place to take number...Odd

• You don't leave until everything is done. App installed. Password set up. Menu's navigated. Pretty much everything that needed to be done...was done. It is nice to know everything will work, but still over an hour to get a bank card is a long long time.

• The ATM is for more than just the card. The ATM machines have different features than I'm accustomed to cash withdrawals but it seems I don't even need the bank card. I could just use the app and QR code to withdraw money from my account.

Even more interesting. I can withdraw money with just my name and password. I found that very unusual when I tried it but also very reassuring.

A secret fear when travelling

Why would I go through the hassle of a foreign bank account? Making things smoother for getting funds to family and friends is important. Having and keeping a local phone number for 2FA is really useful. However, there is one benefit that I didn't appreciate until I actually held the card. A little bit of peace of mind.

I often wonder about getting robbed or swindled while on vacation. Life away from home, family and friends could become very uncomfortable very fast without access to money. If I lost my wallet? No credit cards? No cash? How do I survive until my return flight home?

Having a bank account in the Philippines takes a lot of that worry away. If I lose my credit card and wallet? I still have my fingerprint and name. That is a big difference between the Philippines and Canada. As a test I tried using my name and fingerprint to withdraw cash. It worked that's huge. It means that if things go very wrong ... if I can get to an ATM I can get cash for a bus ticket back to safety.

It means that my family in Canada can send money to my bank account so I can have daily funds until such time as I can get home.

Precautions are still important.

I take precautions while travelling of course.

• I don't display large sums of money

• I keep my money distributed in different places so there is no one point of failure

• I use the hotel safe for a portion of money

• I keep a backup cellphone just in case

and more

But that one last piece of the puzzle was a bank account and ATM access. If I forget my name and lose my fingerprint? I have much bigger issues than lack of money. In short I have one final layer of protection against fraud and theft which makes me sleep just a little better.