Mandaluyong City, Philippines (PressExposure) August 19, 2008 -- With liberalization of the Philippine Monetary system and the introduction by major Banks of Multi-currency accounts in a shift away from US Dollar denominated foreign exchange, please be informed that in order to provide a continuing improved service to our growing number of clients from the UK, Canada and Australia and to make the mode of payment easier and more convenient for our overseas buyers, Pacific Concord Properties Inc has opened accounts in Australian Dollar, Canadian Dollar and Euros and are currently in the process of opening UK Pound Sterling accounts with Bank of Philippine Islands (BPI) in Manila.
As such, buyers from the UK, Australia and Canada can now issue their local personal or company checks drawn on their regular bank for reservation fees and monthly installment payments and send fund transfers in their local currencies for all down payment requirements or account partial lump sum payments and balances.
For reservations and monthly installment payments, checks shall be issued payable to Pacific Concord Properties, Inc (PCPI). Clearing of the overseas checks [for collection] will take about 45 to 60 banking days. Upon clearing of the checks or receipt of remittances, PCPI will convert the foreign currencies to Philippine Pesos (PHP) at prevailing exchange rate and apply the same as payments for the unit(s) purchased.
For down payments, account partial lump sum payments and balances overseas clients may send wire or telegraphic fund transfers in Euros, UK Pound Sterling, Australian or Canadian Dollars directly to the appropriate accounts with Bank of the Philippine Islands in Manila.