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I would just like to inform everybody that a Supreme Court Resolution has just been issued regarding the issue of Special Savings Account.

 

In the case of Banco de Oro vs. Commissioner of Internal Revenue, GR NO. 173602 promulgated on January 15, 2007, the Supreme Court upheld the findings of the Court of Tax Appeals in confirming that SSAs are subject to Documentary Stamp Tax.

 

The SC saw no reversible error on the part of the CTA in denying BDO's petition for review. The SC specifically cited a portion of the CTA decision which stated that "despite the differences in the form of documents, a time deposit and Investment Savings Account have essentially the same attributes and features, and that the definition of a certificate of deposit is all encompassing to include a Savings deposit such as ISA.

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  • 2 weeks later...
  • 1 year later...

hi. can anyone help me out on this.

 

i have old coins and paper bills. well not so old, coins during the marcos era 70s most of them, some 80s but obviously they are not in circulation anymore. can i still have them replaced or sell? would banks still accept them if i deposit it?

 

would appreciate your advice.

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hi. can anyone help me out on this.

 

i have old coins and paper bills. well not so old, coins during the marcos era 70s most of them, some 80s but obviously they are not in circulation anymore. can i still have them replaced or sell? would banks still accept them if i deposit it?

 

would appreciate your advice.

 

Don't know about other banks but BDO doesn't accept bills that are out of circulation. I ended up selling most of my Marcos-era P2 bills on eBay and Craigslist.

Edited by ligtasan
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Don't know about other banks but BDO doesn't accept bills that are out of circulation. I ended up selling most of my Marcos-era P2 bills on eBay and Craigslist.

 

 

@ ligtasan - really. might as well try this also. thanks for the tip.

Edited by wizard23
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Don't know about other banks but BDO doesn't accept bills that are out of circulation. I ended up selling most of my Marcos-era P2 bills on eBay and Craigslist.

 

yup. most of the time, money collectors buy these bills/coins at a fortune..

i know one guy who sold his Bagong Lipunan 1 peso coin for 10,000.00 pesos in E-Bay.

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hi. can anyone help me out on this.

 

i have old coins and paper bills. well not so old, coins during the marcos era 70s most of them, some 80s but obviously they are not in circulation anymore. can i still have them replaced or sell? would banks still accept them if i deposit it?

 

would appreciate your advice.

 

try dealing directly with bsp...otherwise, u may want to sell them thru e-bay.

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  • 3 months later...
  • 2 weeks later...

I wonder if someone can here knows what to do.

 

I currently live abroad. But I was born in the Philippines.

 

All I want is to open a cheque account but had no success... I tried BDO, BPI

 

They ask ids and documents which I dont have... like sedula, drivers licence, birth certificate, electricity bill, phone bill etc...

 

BTW I only need to open a cheque account so I can issue PDCs to Megaworld.. I bought a condo unit (preselling)

 

Also, how much initial deposit is required when opening an account?

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I wonder if someone can here knows what to do.

 

I currently live abroad. But I was born in the Philippines.

 

All I want is to open a cheque account but had no success... I tried BDO, BPI

 

They ask ids and documents which I dont have... like sedula, drivers licence, birth certificate, electricity bill, phone bill etc...

 

BTW I only need to open a cheque account so I can issue PDCs to Megaworld.. I bought a condo unit (preselling)

 

Also, how much initial deposit is required when opening an account?

 

have you tried iremit?

 

its a money sending service.

i've seen developers that use this service so the buyers can pay directly from abroad

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  • 3 weeks later...
I wonder if someone can here knows what to do.

 

I currently live abroad. But I was born in the Philippines.

 

All I want is to open a cheque account but had no success... I tried BDO, BPI

 

They ask ids and documents which I dont have... like sedula, drivers licence, birth certificate, electricity bill, phone bill etc...

 

BTW I only need to open a cheque account so I can issue PDCs to Megaworld.. I bought a condo unit (preselling)

 

Also, how much initial deposit is required when opening an account?

 

where r u exactly at overseas? middle east, usa or elsewhre?

 

sa mid-east kc they have local banks there that are tied-up with phil. banks..usually may mga pinoy consultants mga phil banks diyan..so you can go ask them if they can help you open a checking account...

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  • 4 months later...
  • 1 month later...
Mahaba pa rin ba ang pila usually sa mga teller?

 

Lines at tellers are usually affected by the following items:

1. The bigger the bank, the longer the lines at head office/branches

2. Longer lines at the 15th and 30th of the month

3. Longer lines just before a long weekend.

4. More people transact from 12nn down.

5. Longer lines on Mondays and Fridays.

Edited by Dr_PepPeR
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  • 2 weeks later...
I have some questions:

suppose i won 100 million lotto prize money,

how do i keep it bank/s?

will i be questioned by authorities?

what do i do?

 

can u pls give me suggestions?

tnx in advance.

because of AMLA, the Bank will ask you the source of your funds and they will make the necessary report. if the source of your funds is legit, you need not worry.

Edited by rapidfayr
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I have some questions:

suppose i won 100 million lotto prize money,

how do i keep it bank/s?

will i be questioned by authorities?

what do i do?

 

can u pls give me suggestions?

tnx in advance.

 

 

because of AMLA, the Bank will ask you the source of your funds and they will make the necessary report. if the source of your funds is legit, you need not worry.

 

For lotto winnings, all you have to show is proof that you received the check from the PCSO. The latter are aware of this requirement and are generally cooperative in assuring the bank that your source of funds is legitimate. Anyway, in the case of PCSO nowadays, they will not give the full amount of the winnings if it is a large amount, they will do it over a period so don't get your hopes up.

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For lotto winnings, all you have to show is proof that you received the check from the PCSO. The latter are aware of this requirement and are generally cooperative in assuring the bank that your source of funds is legitimate. Anyway, in the case of PCSO nowadays, they will not give the full amount of the winnings if it is a large amount, they will do it over a period so don't get your hopes up.

 

what is AMLA?

 

how long till i get the full amount?

is it possible for me to tell the source that i want the amount divided into 5 separate bank account?

dont worry my source is legit...

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what is AMLA?

 

how long till i get the full amount?

is it possible for me to tell the source that i want the amount divided into 5 separate bank account?

dont worry my source is legit...

 

AMLA stands for Anti-Money Laundering Act and its purpose is to prevent illegitimately acquired money from entering the banking system, like for example funds acquired from plunder, drugs, ransom and other criminal activity. I really don't know what the guidelines of the PCSO are but maybe the time period will depend on the amount of the winnings. It is always possible to divide it among five separate accounts by depositing it into a personal checking account and checks for deposit into the other four separate accounts.

Edited by Dr_PepPeR
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