Is it still safe to put your money in the bank?
Filed under: banking, Economy, entrepreneur, feedback & reviews, finance, Money, Philippine, Reaction, roysville
With, yet again, the closure of Banco Filipino Savings and Mortgage Bank last week by the Bangko Sentral ng Pilipinas (BSP), the simplistic mind of Juan Dela Cruz cannot help but ask, “Is it still safe to put your money in the bank?”
True, bank deposits are insured by the Philippine Deposit Insurance Corp. (PDIC) to a MAXIMUM of P500,000 PER depositor. In fact, PDIC is now already processing deposit insurance payments to the depositors of Banco Filipino. But we all know that claiming your money from a closed bank is not a walk in the park.
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Others may not believe that it can happen until they become a victim themselves. That is why is always better to be careful, and vigilant, before the identity theft gets to you. Be wary of where you swipe your credit cards, enter your secret PINs and the like. Sometimes, it will help if you can check websites like IdentityHawk to learn about it and how best you can protect yourself.
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I had a chance to work in a car dealership company before, and there I learned about the importance of anticipating the needs of customers. That is because inside the showroom, there a small space in one corner where customers can buy car accessories either for their newly bought cars or for their old vehicles.
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