How does the banking system of the United States reflect a free enterprise economy?
It doesn't. Not a bit.
The United States’ money supply, credit, interest rates and banking systems are primarily impacted by?
C) monetary policy.
Philippines: What is the best system to remit money from United States to The Phillippines? Any bad experience?
Right now that would be Bitcoin. We are seeing a growth in number of BTC exchanges and several players entering the market. Services such as SendMoney.ph and iRemit.ph want to change the landscape by drastically lowering fees levied on remittances, all while providing fast service with same day receipt of the money if transferred before 1PM local time usually. Generally banks here may be difficult but these services can make use of large networks where receiver can pick up the money (Cebuana Lhullier, GCash by Globe, direct transfer into bank, several banks offer over the counter collection upon presentation of ID). Note that most of the BTC remittance services are rather new and thus limit the amount to around $1,000 (for now).But they are trustworthy, want to speed up how things work and want to improve the landscape of vultures, AKA Western Union, Moneygramm and banks in general).Other options include HSBC, Citibank and XOOM. Usually best to first check with receiver, if they have a bank account, their bank may have a special remittances program.
Bank in the Philippines with Branch in America?
Metrobank has a branch in New York. Here's the details: METROBANK NEW YORK 10 East 53rd Street New York, New York 10022, U.S.A. Tel No.: 1 (212) 832-0855 ext. 228 1 (212) 909-3665 (Direct Line) Fax No.: 1 (212) 223-0916 Contact Person: Ivan S. Atmaja - General Manager Email: ivan.atmaja@metrobankny.com customerservice@metrobankny.com Business Days: Mondays to Saturdays Business Hours: Mondays to Fridays (9:00 AM to 3:00 PM) Saturdays (10:00 AM to 1:00 PM (remittance only))
Why do banks in Philippines close at 3pm?
You would think they would use the time after 3pm to process all the stuff they've received during the day but when you actually get into a bank you have to wait a hell of a long time before you turn comes as they process things there and then when a customer waits.
Where is the best place to exchange Philippine pesos before a trip, at a US bank before you go or a money changer in the Philippines?
if you are arriving at one of the airports in Manila, then wait until then to change your dollars into pesos. The rates are not bad at all, although the rates at Terminal 1 are the best, followed by T3 and with T2 offering the worst rates. The rates on offer at Clark airport tend to be about the same as at T2. All these airports will give you better rates than you will get at any retail-type outlet in the US.however, if you are arriving at Mactan Cebu airport, or any other provincial non-Luzon airport, it could well be better to get your pesos in the USA first as there is no competition at Mactan with there being just a single moneychanger. They can basically charge what they want and their rates are appalling. As much as 2 pesos per dollar less than than they sell pesos on the street in the Fuente and Colon areas of Cebu city.as far as SEAsia goes, this is a general rule of thumb and same principle goes for Thailand too. If you are arriving at the major capital city airport such as in Bangkok, the rates will be perfectly OK and without a doubt better than you are likely to get at any retail-type outlet in the United States. However, if you are arriving at a provincial airport, such as Chiang Mai, Phuket, or Ko Samui, you cannot be so sure that the rates will be so good.wherever you arrive, do not change too many dollars at the airport even if you arrive at the most beneficial one, Terminal 1 in Manila, because you will still get better rates on the street in the Ermita/Malate district of the city. Change just enough to cover your first 24 hours, taxi, hotel, food, and so on. Maybe $200 max.