Banking in the Philippines

[wek1012]

what should i know before getting an atm? planning to get one kac. never had one before.

[the messiah]

what should i know before getting an atm? planning to get one kac. never had one before.

 

ask mo sa bank kung anung product nila may kasamang ATM, usually savings deposit meron ng kasama yan basta ma meet mo lang yung minimum required na deposit, kailangan mo din ata mag dala ng at least 2 identification id, hope ds helps

[czekloy]

san bangko ba maganda mag time deposit? yung malaki ang interest rate.

 

You might want to check out my comparative analysis with banks and the company I'm part of, National Life Insurance Company at http://ph.88db.jobsdb.com/PH/Views/PostDet...px?PostID=70953.

 

We don't offer the biggest interest rate but we definitely offer the lowest risk in losing one's principal investment.

 

Cheers!!!

[czekloy]

You might want to check out my comparative analysis with banks and the company I'm part of, National Life Insurance Company at http://ph.88db.jobsdb.com/PH/Views/PostDet...px?PostID=70953.

 

We don't offer the biggest interest rate but we definitely offer the lowest risk in losing one's principal investment.

 

Cheers!!!

 

CORRECT LINK FOR MY COMPARATIVE ANALYSIS OF TIME DEPOSIT IS AT http://ph.88db.jobsdb.com/ph/views/postDet...px?PostID=70953

[ZedX7]

what should i know before getting an atm? planning to get one kac. never had one before.

 

Bring 2 valid class A IDs (SSS, Driver's License, birth certificate will do also), two 2x2 recent pictures. If you have a referral from a depositor of the branch that would be a plus. Go to the branch of your choice and just approach the new accounts section. Different banks have different maintaining balances. Depositing P2,000.00 I guess is the minimum these days (w/o interest).

[the messiah]

Philtrust bank offers to buy 100% of PBCom, their merger wud create the countries 13th largest bank

[Dr_PepPeR]

Philtrust bank offers to buy 100% of PBCom, their merger wud create the countries 13th largest bank

 

Nice to meet you at the ACA2006 sir. The word is that the buyout by Philtrust is highly leveraged so some people are wondering if Philtrust bit off more than they can chew. PBCom is still not out of the woods yet.

[Dr_PepPeR]

Top 5 bank after the merger

 

1. BDO

2. MBTC

3. BPI

4. Allied/PNB

5. Union bank (recently bough IBank)

 

Metrobank will still be number one even with the merger in terms of total assets, although the lead will be very slim.

[parbust3r]

Dr pepper,

what do you think of the rural banks that offer 20% per annum for 5 years, interest witdrawal monthly?

PDIC insures up to P250,000 so im thinking that this is a relatively risk-free investment that beats inflation. 1million should be deposited into 4 different account with different account olders to ensure that the whole 1m is insured.

thoughts please....

[Mandrake]

2 days ago The Inquirer reported that the ATMs of Union Bank suffered some glitches and were down for the past week.

[Dr_PepPeR]

Dr pepper,

what do you think of the rural banks that offer 20% per annum for 5 years, interest witdrawal monthly?

PDIC insures up to P250,000 so im thinking that this is a relatively risk-free investment that beats inflation. 1million should be deposited into 4 different account with different account olders to ensure that the whole 1m is insured.

thoughts please....

 

One of the fundamental rules of investments is this: The greater the risk, the higher the return. Why can rural banks offer higher yields? For one, they have lower reserve requirements than commercial banks. Second, most of their business is local consumer lending and can therefore charge very high loan rates. So look at it this way: Do you think that the rural bank will still be strong enough to be able to pay you back after 5 years? Try to find out why that rural bank needs the money. Does it need to have funds so badly that it is willing to offer very high interest rates? This is not a stab at rural banks but most of these are family owned and many are not run as professionally as commercial banks. You may take refuge in the PDIC insurance but remember this is a relatively long process and most of the time (if not all) you will be given back only your principal. Compare it against putting it in a lower but more stable institution. You may be able to sleep better for 5 years. Just mah 'pinion of course and you know what they say about opinions.

[parbust3r]

thanks dr. pepper. One more thing though. How long does it take for claims to be processed by PDIC?

[Dr_PepPeR]

thanks dr. pepper. One more thing though. How long does it take for claims to be processed by PDIC?

 

The earliest I think is 6 months, normally it takes a year or more.

[muffy69]

Three years ago, my credit card wasn't stolen but someone used my name to open a credit card at Best Buy. I learned about this because I subscribed to a credit monitoring service via one of my Mastercard credit cards. The good thing about this was that the person was only able to get a $500 credit card from Best Buy. However, she/he went over the credit limit.

 

As soon as I was alerted with this info, I immediately contacted the three credit bureaus - Equifax, Experian and TransUnion - to freeze my credit. I also went to the nearest Best Buy in our place to report the fraudulent act. Aside from that, I also contacted the Hercules police station and filed a police report. Not only that but I also sent registered mail to all Best Buy offices around the US and also the three credit bureaus.

 

My pristine credit history was restored in a month's time. :cool:

[tonyp]

thanks dr. pepper. One more thing though. How long does it take for claims to be processed by PDIC?

 

It only takes a few weeks to get back your money. File your claim at the branch where you made your deposit. There is a primer on PDIC deposits. Just type PDIC using a search engine.