First Bank depositors here?

FrankDrebin · September 9th, 2004 11:41 AM

greenlyt, yan ba yung AMA Bank? Syet!

**jolog1** · September 9th, 2004 12:09 PM

Kahit insured yung pera, kawawa pa rin ang mga vendors sa Divisoria. Araw araw dine-deposit nila ang collection nila. Nakatali ang pera nila hangang ngayon. Saan sila kukuha ng pundo para replenish mga inventory nila? Rent? Bills?

**greenlyt** · September 10th, 2004 11:06 AM

FrankDrebin d siya yun AMA bank from the start Fist Savings na ang pangalan niya, mga 20 yrs. na yun bank in operation until last Wed. when it was ordered closed by the Monetrary Board.

**EC248M** · September 10th, 2004 11:50 AM

Originally posted by boybi
First e-Bank yung tinutukoy mo, iba yan sa First Savings Bank.

pwede ba kumuha ng additional insurance? saan at paano?

Cguro pwede split deposit maximum of 250T para insured. Let say you have 500T deposit it into two account numbers. Regarding sa insurance, i think its automatically insured.

just my two cents..

**the_wildthing** · September 10th, 2004 12:00 PM

Medyo OT:

My personal preference is: don't put too much money in a regular savings account. Sayang. It just sits there earning minimal interest. As much as possible, look at the financial "health" of the bank you're banking in.

If you have money to save, put it in other savings instruments.

I use the regular bank account for an emergency fund - something to draw against just in case, and a checking account.

The rest are in mutual funds, pension and insurance...

FrankDrebin · September 10th, 2004 12:18 PM

How about treasury bills? My stock-broker tropa is always bragging about this. He said it is better than those bank's time-deposit.

**jolog1** · September 10th, 2004 02:42 PM

Cguro pwede split deposit maximum of 250T para insured. Let say you have 500T deposit it into two account numbers. Regarding sa insurance, i think its automatically insured.

It doesn't work that way. It's 1 insurance per DEPOSITOR. Kahit may 10 accounts ka, iisa pa rin ang depositor - ikaw. Kaya hangang P250k pa rin ang insurance limit mo.

FrankDrebin - Treasury Bills are good too. Pero you have to consider na sabi ni GMA malapit na daw tayo sa fiscal crisis. Tingnan mo yung utang ng pinas, lubog na pagtapos umutang pa ng $1 billion kahapon through bonds. Kung bumagsak ang economy natin, default lahat ang loans kasama mga bonds/bills. Tingnan mo ang nangyari sa Argentina 2002. Short term is good pero anything longer than 3 years I think it's a risk. Pero the higher the risk, the higher the interest rate.