Automatic debit or post-dated checks

[Yatta]

Tanong ko po kung may naka-experience na nito? I got approved sa car loan (in-house financing pero it was a good deal na comparable sa bank financing) and now they are giving me 2 options to pay the monthly amortization: post-dated checks or automatic debit account. Problem is I don't have a checking account and sabi ng bank ko, it will take 3 weeks to 1 month to process to give me one (LBP). Kung auto-debit, is that safe in the Philippines (may experience naman ako sa auto-debit ng bills sa Japan, but wary ako dito sa Pilipinas). I'm thinking if I go for ADA, I should just open another normal account na hiwalay sa savings account ko just for the car para ma-monitor ko siya.

[andsmv]

Sa bpi family, 1 day lang provided may existing savings account ka s bpi. Ewan ko lang kung ganun pa rin ngayon. 2013 ako nag apply nun.

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[shadow]

huh!? anong klaseng bank yan na 3 weeks mag process ng checking account? pag fill up ng info then deposit ng pera ok na dapat tapos meron na agad cheque book wala pa lang nga yun account naman nakasulat...

saka walang problema kahit anong mode of payments pa yan, kahit cash pa yan monthly na ibibigay sa kanila, ang problemhin mo yun funds mo monthly...

[bentotz]

sir, yung auto loan ko, naka ADA, no issues pa naman ako naencounter.. pag hindi ko napondohan, iinform nila ko then magrun ulit ADA nila.. no penalties yun..

regarding sa check, nung kumuha ko, it takes 1-2 weeks yung pagbigay ng booklet..

suggestion ko, magopen ka na lang ng bagong account then enroll mo sa ADA.
pag check kasi, pag nagbounce yan.. my penalty pa.. tapos my penalty pa pag hindi ka naka bayad ontime sa loan mo..

[Ry_Tower]

Okay yang auto debit. BPI at Metrobank ginagamit ko yan para less hassle. Just make sure lai lang may pondo.

[yebo]

Land bank pala e, matagal talaga dyan. Sabi nga ng hipag ko na nagwowork sa lbp kahit siya daw hindi dun ang banko nya hahaha!

open ka na lang ng ibang account sa ibang bank tapos ada na.

[111prez]

I would prefer auto debit

Violation of BP 22 (bouncing checks) is still a criminal offense

[shadow]

regarding sa check, nung kumuha ko, it takes 1-2 weeks yung pagbigay ng booklet..

anong bank yan? hinde ah..parang SA rin yan current account meron agad check book, account number palang nakasulat at walang account name...

[_Qwerty_]

yung ibang banks like BDO, pag new accounts ka hindi sila pumapayag na basta basta magkaron nang checking account..

yung ADA ok naman yan.. mas maganda pa yan.. pag cheke di mo napondohan tatalbog.. pag ADA.. tatawagan ka lang.. walang penalty..

[rafmac]

Advantage of auto debit is that you do not need to sign and provide them with so many checks. My current loan is auto debit with RCBC and they email you a transaction receipt after

I encountered an issue with BPI 8 years ago and they debited the wrong amount and it took weeks for them to return the money


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