ALERT! Possible robbery in the GREENHILLS / SAN JUAN area.

**vinj** · February 10th, 2013 12:09 AM

Originally Posted by jon777

one of our business deals with cash. what I did was to set up an armored bank pickup service from Metrobank. the 1st 4 weeks, i was personally carrying cash from our business to the bank 5 minutes away sometimes 3-4x/week. nakakatakot but i made it a point to change time, day of cash collection. Now, its the armored car from metrobank that is picking up the cash, all they require is a P3 Million ADB.

P3M ADB (Average Daily Balance) should be easily attainable if it's the working account of the company. Even if you keep the balances low and transfer excess funds to TDs or SDAs to earn a little more interest, your floats should be able to sustain it if you have sizeable disbursements or collections.

Originally Posted by Balikpinoy

How can we do this?

Contact your suking bank (preferably where your payroll or mother account is lodged) and you can ask to meet with their Cash Management Unit/personnel. There's SSSNet and BIR EFPS which the banks can tie to their E-banking modules so you can work on your remittances. This is free of charge.

**jon777** · February 11th, 2013 08:30 PM

^^^^ VInj, metrobank requires P3M ADB but the bank does not restrict the ADB to the business account alone. the bank also considers the other metrobank personal accounts of the business account holders also kaya magaan naman

**vinj** · February 12th, 2013 09:43 AM

Originally Posted by jon777

^^^^ VInj, metrobank requires P3M ADB but the bank does not restrict the ADB to the business account alone. the bank also considers the other metrobank personal accounts of the business account holders also kaya magaan naman

Yep, they'll always aggregate it. If you have any business loans, the rate should also be commensurate to your deposits to a certain extent. Yung iba, their working funds and placements alone is at par with their corporate loans so their borrowing interest rates is pegged quite low and near the TD rates + taxes.

Buti at it seems happy ka pa sa Metrobank... napupundi na ako sa kanila with our corporate account.

**number001** · February 12th, 2013 10:04 AM

Originally Posted by ghosthunter

Our office also moved to ATM payroll system. Much safer than having to withdraw cash for each payday.

ATM is ideal but if your employees have lots of deductions (fr. loans, bale, etc...) its impossible.

**Horsepower** · February 12th, 2013 10:25 AM

Not impossible but more like taxing.

**Boy Bastos** · February 12th, 2013 10:55 AM

Originally Posted by number001

ATM is ideal but if your employees have lots of deductions (fr. loans, bale, etc...) its impossible.

Possible! As long as your HR and Accounting Dept are proactive and doing their jobs.

**ghosthunter** · February 12th, 2013 11:42 AM

Originally Posted by number001

ATM is ideal but if your employees have lots of deductions (fr. loans, bale, etc...) its impossible.

It is possible and we are doing it, including employee deductions.

**JohnM** · February 12th, 2013 11:48 AM

Originally Posted by vinj

Buti at it seems happy ka pa sa Metrobank... napupundi na ako sa kanila with our corporate account.

OT: Our company shifted from Metrobank last year. That's a payroll account worth 1000+ employees. Sounds like napupundi na rin sila. Quite a few instances of very late ATM credit and giving our accounting officer the runaround when asked about the problem. Their ATMs are always offline or out of cash especially on sweldo days.

Our new bank is a lot better. No charges on any transaction from any Bancnet/Megalink/Expresslink ATM

**vinj** · February 12th, 2013 11:59 AM

^ Gusto ko na nga ipa-evict si Metrobank sa office building, pero i think they bought already the space (sayang yung recurring income!).

BTW, one of our employees recently got tripped by those ATM scan gangs. Be careful at the ATMs people.

**Horsepower** · February 12th, 2013 12:13 PM

Originally Posted by JohnM

OT: Our company shifted from Metrobank last year. That's a payroll account worth 1000+ employees. Sounds like napupundi na rin sila. Quite a few instances of very late ATM credit and giving our accounting officer the runaround when asked about the problem. Their ATMs are always offline or out of cash especially on sweldo days.

Our new bank is a lot better. No charges on any transaction from any Bancnet/Megalink/Expresslink ATM

Citibank? but it can't be, laki ng ADB nila, unless you managed to have that waived.

Out of curiousity, what bank is this sir?