I did try to transfer money back through the HSBC branch in Cebu. The lady there on the customer services desk categorically stated that there was no way I could transfer money out of the Philippines. She appeared to know what she was talking about.
BPI told me the same story. However, I asked about Bankers drafts and ogt one issued on HSBC (UK) advice. BPI then refused to negotiate an exchange rate for the Bankers draft with HSBC in the UK.
It would be ideal if I had a UK buyer and a sterling payment, but thats pretty unlikely.
So I'm reluctant to sell the condo if I can't get the money out of the country.
I've googled for any laws covering the transfer of money out of the Philippines, but can't find anything.
