Typical Filipino Depositor’s Bank Balance...

[MR_BIG18]

Kahit naka USD pa noh? Inisip ko lang din kasi since “dollar” naman siya vs peso.


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it depends on your appetite sa risk..btw..the interest is taxable..do stocks instead

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[Syuryuken]

Maraming mayayaman na up to 500K lang ang deposito sa bangko pero napakarami namang bank account.

[MR_BIG18]

Maraming mayayaman na up to 500K lang ang deposito sa bangko pero napakarami namang bank account.

insurance money..just incase mag bank run..

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[mda]

insurance money..just incase mag bank run..

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Kung totoong mayaman yan, you'll run out of banks and family members first.

500K yung insured per bank, per person, not per account hehe.

[falken]

Marami ring naka deposit sa foreign banks.

[MR_BIG18]

Kung totoong mayaman yan, you'll run out of banks and family members first.

500K yung insured per bank, per person, not per account hehe.

there is always a safety deposit box for emergency..holds around 3m each..rent is 2.4k per annum....you can rent more than one SDB, sabi lang nila yun sakin

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[jut703]

Kung totoong mayaman yan, you'll run out of banks and family members first.

500K yung insured per bank, per person, not per account hehe.

Per person pala yun? Inassume ko lang na per account so laging tig-500k lang nilalagay ko sa isang account tapos lipat sa kabila yung sobra. Parang alkansya ba. Useless pala ginagawa ko. [emoji23]

Although parang di naman ako comfortable na 500k lang laman ng banko ko for emergency. Magkasakit lang or something ubos kagad yun.

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[mda]

Per person pala yun? Inassume ko lang na per account so laging tig-500k lang nilalagay ko sa isang account tapos lipat sa kabila yung sobra. Parang alkansya ba. Useless pala ginagawa ko. [emoji23]

Although parang di naman ako comfortable na 500k lang laman ng banko ko for emergency. Magkasakit lang or something ubos kagad yun.

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Yes, sa pagkaalala ko hehe [background, a few years of banking experience]

In the event na mag bank run yan or the bank becomes insolvent, you can only really get the PDIC's 500K.

You can always run around this by having the accounts in family members' or (eventual, in your case) kids' names. Pero alam ko may rules din if joint account. Just forgot how those work.

[_Cathy_]

Marami ring naka deposit sa foreign banks.

Yup! This is something we don't declare but deposits in offshore banks are fully insured. I'm not sure if it's still the same though. Dami ng new laws and changes sa retail banking.

Per person pala yun? Inassume ko lang na per account so laging tig-500k lang nilalagay ko sa isang account tapos lipat sa kabila yung sobra. Parang alkansya ba. Useless pala ginagawa ko. [emoji23]

Although parang di naman ako comfortable na 500k lang laman ng banko ko for emergency. Magkasakit lang or something ubos kagad yun.

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Wow! You've only been working for less than 5 years and you can already separate in 500k increments!

mda is right, per person kaya there is only one customer account number kahit gaano pa karami accounts mo.

Yes, sa pagkaalala ko hehe [background, a few years of banking experience]

In the event na mag bank run yan or the bank becomes insolvent, you can only really get the PDIC's 500K.

You can always run around this by having the accounts in family members' or (eventual, in your case) kids' names. Pero alam ko may rules din if joint account. Just forgot how those work.

You worked retail banking pala I do know people who do that (account under a relative's name) Tiwala na lang talaga.

[MR_BIG18]

Per person pala yun? Inassume ko lang na per account so laging tig-500k lang nilalagay ko sa isang account tapos lipat sa kabila yung sobra. Parang alkansya ba. Useless pala ginagawa ko. [emoji23]

Although parang di naman ako comfortable na 500k lang laman ng banko ko for emergency. Magkasakit lang or something ubos kagad yun.

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SDB...can be used for jewelries and land titles, just park 1m for emergency

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[mda]

SDB...can be used for jewelries and land titles, just park 1m for emergency

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Possible din, pero if the money rots inside the SDB or if binaha yung bank like nung ondoy (heard of a few cases during this time nung nag ondoy where nabaha yung buong branch), wala rin guarantee for that. May risk either way hehe.

[uls]

remember a bank deposit is lending money to the bank

can your bank be stronger than the government?

why not lend to the govt instead

mas mataas pa interest

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and since you're already lending your money to a corporation (your bank)

why not lend your money to other corporations?

-

spread it out

[Syuryuken]

Kung totoong mayaman yan, you'll run out of banks and family members first.

500K yung insured per bank, per person, not per account hehe.

potek ganun pala yun kala ko per account hehehe

sa government bank lang pala ang sigurado kahit milyones ang ideposito mo.

[mda]

potek ganun pala yun kala ko per account hehehe

sa government bank lang pala ang sigurado kahit milyones ang ideposito mo.

Sure. Kung naubusan sila ng pera, they can always print more money...

[ray_noel]

Maraming mayayaman na up to 500K lang ang deposito sa bangko pero napakarami namang bank account.

Dahil ba sa PDIC insurance limit? Kaya 500k lang kada account?

Edit:
Yah, i’ve back thread... per person hindi per account... lagot... hehhe

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[sean-archer]

Dahil ba sa PDIC insurance limit? Kaya 500k lang kada account?

Edit:
Yah, i’ve back thread... per person hindi per account... lagot... hehhe

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Wtf. Is this true? Per person, not per account? Ano duration nun? Narerenew ba Yun or something?

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[mda]

Wtf. Is this true? Per person, not per account? Ano duration nun? Narerenew ba Yun or something?

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Per person, no duration/renewal, basta insured isang tao up to 500K per bank.

PDIC Website

"PDIC shall pay deposit insurance on all valid
deposits up to the Maximum Deposit Insurance
Coverage of Php500,000, per depositor, of a
closed bank"

[sean-archer]

Per person, no duration/renewal, basta insured isang tao up to 500K per bank.

PDIC Website

"PDIC shall pay deposit insurance on all valid
deposits up to the Maximum Deposit Insurance
Coverage of Php500,000, per depositor, of a
closed bank"

Ohh, per bank? Then that's a good thing. Dapat pala ikalat sa different banks ang pera?

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[mda]

Ohh, per bank? Then that's a good thing. Dapat pala ikalat sa different banks ang pera?

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Yes sir that is one thing you can do

Edit: I'd also like to note na dapat walang mali sa personal details when you sign up sa bank and everything.

May kakilala ako na technical pamilya nila dati because the names on their bank accounts didn't match up perfectly with their valid IDs and everything. Couldn't claim from the PDIC when the bank went belly up.

[papi smith]

Messy yang kalat ang pera, you can simply keep your money in one of the big banks, the chances of them going belly up are slim. The only time nauso itong kalat pera was during the rural bank investing period, a time when they were doing double your money in 5 years. To be safe, people kept multiple accounts under several names to stay within the PDIC cover limit of 250k (which was eventually increased to 500k). But since this low interest regime, even the small banks reduced their special interest rates so it was no longer attractive to lock in your money for several years for a measly return. The banks are so awash with cash, that BMs don't bother to woo your money anymore.

When I was as young as Jut before, you wouldn't catch me putting more than 10k in a savings acoount, it had to be invested in time deposit of at least 8% net/annum. But Jut has no choice right now since TDs and SAs have almost the same yield.

Ohh, per bank? Then that's a good thing. Dapat pala ikalat sa different banks ang pera?

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