Rate some banks -- what's a good bank in the Phils?

[RitaB]

What do you think about the ff:

1. BPI
2. Equitable
3. Citibank
4. HSBC
5. ABN-AMRO

Who gives good rates on time deposits? How about dollar deposits?

[tRiStAn]

RitaB you forgot UNIONBANK :)

[Meiji]

UnionBank is a good bank. They are the first online bank or first that offered online banking (site: www.unionbank.com.ph). (http://www.unionbank.com.ph).) They are maybe not as large as BPI, but they do offer and provide good services. Compared to Equitable, UnionBank offers a higher interest rate for dollar time deposits.

Why do I sense that there's a certain poster who works in a bank ;)

[RitaB]

Oh, yeah! Thanks for reminding me, Tristan.

So, what are their rates for dollar deposits, Meiji? (Also, I think their URL is www.unionbankph.com) (http://www.unionbankph.com))

[Jeremy Darwin]

Union Bank?
May ka merger na ba sila? wala pa yata ah..

if PNB and Asian Bank will merge, it will be the #1 Bank in the Philippines.
Followed by BPI-Far East.
Equitable and PCI Bank next.

that is... kung matutuloy ang merger ng PNB at Asian Bank.

[Ace McStar]

EQ Bank I guess is a good bank but I am not in any position to rate banks because I don't have money for deposits and I dare not loan from banks because my motto is not to borrow money because sooner or later you still have to pay for it.

[batang uliran]

The most solid local bank without question is BPI. They are also the most conservative and don't offer the highest interest rates.

PNB is a mess. Even if they merge with another bank and get the title "the biggest bank in the country" keep in mind that they have a horrible loan portfolio (as high as 40% bad loans) and they have lost over P15B in the last 2 years! That is one bank where you would NOT want to put your money into. If you have money in PNB right now, take it out and put it elsewhere.

[tRiStAn]

Meiji hindi ako yon. (yikes, defensive ba?) :D

[Meiji]

RitaB: both urls work :) incomplete pa yung rates na alam ko. i'll post again.

$Time Deposit
5.687% (gross) $1,000 - $9,999

tRiStAn: defensive :D hehehe

Jeremy Darwin, forgot about Metrobank, Metro and BPI are trying to establish that they are the biggest bank in the country. Metro is trying to acquire/buy Solidbank.

[Renthead]

Dao Heng Bank.

[Meiji]

RitaB: Dollar Time Deposit Gross Interest Rates (UnionBank) as of April 19, 2000

1,000 - 9,999 ------- 5.8750%
10,000 - 49,999 ------ 6.000%
50,000 - 99,999 ------ 6.0625%
100,000 - 499,999 ------- 6.1250%
500,000 & over - call their Treasury Dept.

Hope I was of help :)



[This message has been edited by Meiji (edited 04-19-2000).]

[KuyaDanny]

I do hope that interest rates aren't your only consideration when choosing a bank to place your money with. Only three weeks ago, Urban Bank came calling on me, offering rates which were at least 2.5% over the market average. Tempting.

But look at them now.

[Jeremy Darwin]

Guys, ingats raw kayo sa
International Exchange Bank Or I E Bank at PB Com.
marami na raw ang nag-wi-withdraw last Friday.
if u happen to be passing by their branch,
naka close daw ang mga curtains so that nobody outside might see na maraming nakapila sa withdrawals!

[mparaz]

blame that on the (alleged) texts?

[KuyaDanny]

Will everyone please stop spreading rumors about banks in trouble. They cause unnecessary panic and affect other people who are only trying to protect their money.

Unless you are prepared to name your sources, it is better not to make statements such as "ingats raw", "marami na raw", and "naka close daw" that were written above.

[KuyaDanny]

Here are some interest rate quotes for 30-day placements from selected banks taken yesterday, 03 May:

US Dollars:

Coco 5.5625%
Metro 5.7500%
Security 6.000%
RCBC 5.8750%
Union 6.3125%
Global 5.75000%

Pesos:

Coco 7.8750%
Metro 8.0000%
Security 8.0000%
RCBC 8.2500%
Union 7.0000%
Global 8.0000%

All rates are gross, before withholding taxes.

[KuyaDanny]

I've just gotten hold of the proposed rehabilitation plan for Urban Bank submitted to the SEC by the Bank of Commerce last 06/13/00.

Essentially, the plan calls for a merger with Bank of Commerce, and equity infusion into the merged entity, business expansion, and a disposal of major real estate assets now owned by Urban Bank.

Also, according to the plan, all outstanding deposit liabilities of Urban Bank as at the time of closing will be repaid. However, these will not be all repaid immediately after Urban reopens (then it would be a bank run all over again). The proposed repayment schedule is:

Up to P500,000 per depositor on opening day;
30% of remaining balance after one year;
30% of remaining balance after two years; and
40% of remaining balance after three years.

In effect, all deposits will be converted to time deposits. These restructured deposits will earn interest at the rate of T-Bill 91 less 4%, and final withholding tax on interest applies.

[Sleepless6]

I split my money into two: 1) money I want to grow 2) money I want to have liquid and available if and when I want it.

I use equities/fixed income for the first and banks for the second. Because of this, I put service levels first and interest rates a far second.

The bank I use is Citibank. It has an excellent phone service system, international coverage, and online functions (bills payment and the works). It's really expensive to use Citibank though. They charge quite a bit and their interest/exchange rates are really bad. But I get the service I need. In essence, if you are looking for excellent service, do Citibank. If you're looking at good rates, avoid Citibank at all costs.

I've tried two other banks before. PNB and HSBC in particular. Both had better rates but were thoroughly unpleasant experiences. PNB systems suck really bad. I couldn't even access how much my balance was because their system would be down at times! And they are really slow. The HSBC people I met (I'm sure many of them are really nice) were a little rude so I didn't even bother opening an account.




[This message has been edited by Sleepless6 (edited 06-24-2000).]

[NoisyCricket]

ritab,
i used to work at Planters Development Bank, and I know a lot of people there. My former boss, VP Felizardo Mangubat, was really cool. He was the VP of the Accounts Management Group, and I placed around P8MM in Plantersbank. I can get you (us) competitive rates.

[KuyaDanny]

Re: Urbancorp Investments Inc.

On 7 July 2000, the SEC extended its Order for Suspension of Payment involving the abovementioned firm for another sixty (60) days or until 7 September 2000.

[colet]

DaoHeng Bank. It earned the second best bank title in Asia...only this year yon.

[KuyaDanny]

Re: Urbancorp Investments, Inc.
SEC Case No 05-00-6613

On 7 September 2000, the SEC extended its Order for Suspension of Payments involving the abovementioned firm for another sixty (60) days or until 6 November 2000.

[aticus]

DBS Bank, Phils.

They're a subsidiary of DBS Singapore, the largest bank in Southeast Asia. This bank has assets larger than the combined assets of all the RP banks combined. US$9 billion in CASH. Over $60 billion in assets.

DBS Phils gives over 8% net for a placement of over 1 million in a 1 year time-deposit.

[zimdude]

What do you think of Standard Chartered? Our company shifted to them for salary accounts.

[KuyaDanny]

An updated rehabilitation plan for Urban Bank, Inc ("UBI") and Urbancorp Investments, Inc ("UII") was submitted to the SEC for approval on 24 November 2000. This plan is subject to the consent of the BSP, PDIC, and the SEC, as well as all creditors (including depositors).

Under the terms of the plan, all deposits with UBI and UII will be repaid according to the foolowing schedule:

- up to P500,000 upon opening (expected January 2001)
- up to 30% of the account (including the first P500,000) one year after opening
- up to another 30% of the account two years after opening
- the balance three years after opening.

All unpaid deposits shall earn interest after reopening at the rate of the average 91-day T-bill rate, minus 4%. This interest is subject to 20% withholding taxes.

[hobbes20]

How bout PhilAm Bank (affiliate of AIG)?

[the_BuGs]

ABN Amro Former No. 1 Bank in the world
CITIBANK Former No. 1 Bank in the world
Standard and Chartered No.1 Bank in the world.

kaso nga lang yung ABN AMro savongs bank lang coz mahirap ng bangain ang Metrobank at BPI

[KuyaDanny]

Re: Urbancorp Investments, Inc.
SEC Case No 05-00-6613

On 5 January 2001, the SEC extended its Order for Suspension of Payments involving the abovementioned firm for another sixty (60) days or until 8 March 2001.

Creditors and stockholders have already approved the rehabilitation plan, but all parties are still waiting for the approval of the Monetary Board.

[lupuS]

4Q00 net income grew by 17.0% to P223.4 million from P190.65 million during same period in 1999 on the back of P988.9 million in interest income, versus interest expense of only P470.52 million. In addition, the bank reported a 40.0% improvement in provision for probable losses to P80.0 million from a high of P136.32 million during 4Q99. Yearend net income is expected to amount to P800.0 million or 20.0% lower than the 1999 bottomline of P1.05 billion.

[lupuS]

4Q00 net income dropped 26.0% to P94.2 million from P127.52 million in the same period in 1999 although the bank managed to report a stronger balance sheet out of its merger with Federal Savings and Mortgage Bank. However, interest income grew by 34.6% to P539.59 million; total resources increased by 36.0% to P75.6 billion from P55.4 billion in 4Q99; total liabilities and capital funds amounted to P75.65 billion, up P66.0% from P45.5 billion last year.

[mac_bolan00]

With regard to over-the-counter service and atm reliability, the top-4 banks really s_ck. I mean it. I deposit money and pay my bills monthly through these banks and I'm close to believing their branch management is breaking down. Just today, it took me 1 hour to pay my two credit card accounts OTC. Recently, I opened an atm account on another bank on the condition that I can deposit via atm (I repeated the question X times and each time the answer was a smiling "Yes"). Well, on my first deposit, they informed me that deposits via atm haven't been allowed for some time. OTC deposit? They'll give you a number, say 105 while the current number being serviced is 72. la merde!!!!

Superior planning, stringent hiring policies, customer above all: very pukka!!!!!!!!!!!!

*&^**^!!! Bunch of stupid incompetents!!!!!!!!! That's my money they're monkeying with!!!!!!!!

[KuyaDanny]

I have to agree with mac_bolan00 when he says that when it comes to OTC service, the Top 4 banks s_ck. It seems that the bigger banks get, the more money they want their customers to deposit with them. If you're one of the smaller depositors (such as myself), they won't give you the time of day.

It's even more obvious in this age of mergers and acquisitions. When your bank is acquired, or merges and loses its identity, service quality is one of the first things to get thrown out the window along with the old bank's name.

Nowadays I put my personal money in mid-size to small banks, if I want good service. One other way, if this route is available to you, is to take charge of your company/business banking relations. Banks will tend to treat you and your company as one and the same, and if your business is large enough, you can ride on this "relationship" to get good service for your personal money.

[payaSo]

Now that Bank of Commerce has abandoned plans to rehabilitate Urban Bank, the SEC is considering the liquidation of the bank's investment house subsidiary, Urbancorp Investments, Inc.

According to SEC chair Lilia Bautista, unless someone submits another proposal by March 8, they will liquidate the investment house.

What happens to Urban Bank is another matter, because its rehabilitation is governed by the BSP and PDIC.

[makiling]

Originally posted by mac_bolan00
Just today, it took me 1 hour to pay my two credit card accounts OTC. Recently, I opened an atm account on another bank on the condition that I can deposit via atm (I repeated the question X times and each time the answer was a smiling "Yes"). Well, on my first deposit, they informed me that deposits via atm haven't been allowed for some time. OTC deposit? They'll give you a number, say 105 while the current number being serviced is 72. la merde!!!!


sometimes i would tend to agree with you as regards service quality for big banks. i work with one of the top 4 :-) there are target markets for each type of bank however. smaller deposits could well be handled by small to medium banks. on the other hand, online banking is an answer to many of the client's woes such as long lines in the branch for payments.

paying via phone or internet is more convenient wouldnt you say? you can pay anytime during the 24 hours sans the hassle of a long line.

over the counter transactions are now discouraged since it costs the bank more than quadruple than electronic means.

just to give you an example one study shows that it costs at least Php 25 for branch transactions, 10 pesos for atm transactions, 8 pesos for telephone (with voice) trans, and 3 pesos for internet transactions.

in BPI, there is no charge for online banking, since savings are derived in terms of operating costs.

[KuyaDanny]

Hello, makiling. Do you work where I think you work?

I'm just wondering why BPI has the gall to charge P30 for a statement-by-fax requested on BPI Express Phone Banking, when they won't charge me anything if I go to the branch and ask for a xerox copy. If non-OTC transactions cost less to execute, why is the pricing policy arranged to discourage their use?

Is this XPL's version of customer service?

[payaSo]

Financial advisers J P Morgan and ING Barings confirmed receipt of proposals from four bidders, Metrobank, RCBC, JG Summit Holdings, and Newbridge Capital. Identities of the prospective buyers were not disclosed. The buyers are interested in acquiring from 31% to 55% of the bank from SSS, GSIS, and the Go family. These three groups collectively own 67%.

The bank's board will create a committee to evaluate the purchase proposals.

[lupuS]

It seems RCBC are having second thoughts on bidding to purchase this bank. They could be turned off by the P30.0 billion in (expensive) emergency loans that Equitable borrowed from the BSP to enable it to serve withdrawals during the Erap impeachment trials, and subsequent decisions by secretive depositors to move their deposits elsewhere.

[makiling]

well kuya danny cant blame you for saying that. the reason they say...well the guys who thought of charging was, expressphone received a deluge of fax requests which clogged the system. when they started charging it decreased of course. well they say it seems people kept making double even triple requests due to the convience.

on the other hand if you do this via the net, its free ;-)

sorry for that. cant do anything, not my area :-((

Originally posted by KuyaDanny
Hello, makiling. Do you work where I think you work?

I'm just wondering why BPI has the gall to charge P30 for a statement-by-fax requested on BPI Express Phone Banking, when they won't charge me anything if I go to the branch and ask for a xerox copy. If non-OTC transactions cost less to execute, why is the pricing policy arranged to discourage their use?

Is this XPL's version of customer service?

[lupuS]

The National Association of Urban Depositors (NAUD) will have a meeting on Saturday, 24 March 2001, 3:00-5:00PM at the 36/F, Urban Bank Plaza, Urban Avenue, Makati.

All Urban Bank depositors are invited.

Inquiries please call the NAUD Secretariat at 878-0485 or email udf2000@yahoogroups.com

[cianoy]

I think Security Bank is actually one of the best mid-sized banks in the country. If I remember my figures right, it's bad loan ratio is in single digits, as against the industry average of about 16% as of late. PNB yata over 50% depending on who you listen to.


Originally posted by lupuS
4Q00 net income dropped 26.0% to P94.2 million from P127.52 million in the same period in 1999 although the bank managed to report a stronger balance sheet out of its merger with Federal Savings and Mortgage Bank. However, interest income grew by 34.6% to P539.59 million; total resources increased by 36.0% to P75.6 billion from P55.4 billion in 4Q99; total liabilities and capital funds amounted to P75.65 billion, up P66.0% from P45.5 billion last year.

[brownpau]

Question: what about those "premium deposit"/"market-indexed" savings accounts offered by most banks? How do those work, and is it advisable to get one?

They seem to offer higher interest based on current T-bill rates, I think.

[AteRonee]

"Premium" savings deposits are often time deposits in disguise. If you keep your money with the bank within a specified time frame, you get a bonus - interest higher than the regular savings rate. The longer you keep it, the higher the yield.

And because it's a savings account, you don't get charged for doc stamps, as you would if you placed your money in time deposits.

[KuyaDanny]

FORUM for NAUD MM - Luzon Members
24 April 2001
36/F, Urban Bank Plaza
Sen Gil J Puyat Avenue
Makati

NAUD is the National Association of Urban Bank/UII Depositors and Creditors

[KuyaDanny]

Banks' bad loans were at their highest levels in April (2001), almost four years since the outbreak of the Asian financial crisis in July 1997, The Bangko Sentral ng Pilipinas (BSP) reported recently.

As of end-April, the country's 45 commercial banks reported an average nonperforming loan (NPL) ratio of 16.65% of total loan portfolio, marginally higher than the 16.6% reported in March.

"Loan quality ws affected by the 2.7% rise in bad loans which outpaced the 2.4% increase in total loans," BSP said in a statement.

BSP Governor Rafael B Buenaventura insists that bad loans have "more or less" peaked.

[benjiep]

Originally posted by KuyaDanny
...BSP Governor Rafael B Buenaventura insists that bad loans have "more or less" peaked.
More of the Less. But of course he knows that, as does everyone in BAP. It's just that they MUST maintain "confidence" in the banking sector. Let's hope they succeed.

[KuyaDanny]

Highest NPL ratios, March 2001

Traders Royal Bank 62.85%
United Overseas Bank (formerly Westmont) 56.6%
Philippine National Bank 40.00%
TA Bank Philippines 28.25%
Bank of Commerce 26.90%

- Source: Bangko Sentral ng Pilipinas

Note: A loan whose principal or interest payments have not been serviced for 90 days or more is a nonperforming loan (NPL). The higher the NPL ratio, the deeper the doodoo the bank is in.

[KuyaDanny]

Equitable PCI Bank has paid off half of its P30 billion emergency loan from the Bangko Sentral.

This developed as bangko Sentral governor Rafael Buenaventura revealed on June 19 that Equitable PCI has been able to reciver 70% of the deposits it lost earlier this year. He did not give exact figures.

The last payment of P4 billion on the loan was made shortly after new President and CEO Deogracias Vistan assumed office on June 1.

Equitable PCI availed of the P30 billion emergency loan package late last year and early this year at the height of the political crisis which saw former president Joseph Estrada being ousted from office.

[lupuS]

The bank deferred repayment of P2 billion in emergency loans from the BSP, as it fell prey to nasty text rumors of a bank run last week, causing a rash of withdrawals which depleted its cash reserves.

The bank posted a net income of P142.95 million in the first uarter of 2001, compared to P303.77 million for the same period a year ago. Interest expense for the second quarter may be slightly lower than last year, due to repayments made on the BSP loan and an overall reduction in T-Bill rates.

[KuyaDanny]

A poll has been added to this discussion.

[payaSo]

Any updates on the Urban Bank rehabilitation?

[lupuS]

The Philippine unit of British banking giant Standard Chartered Bank yesterday said it has been granted a universal banking license by the Bangko Sentral after an increase in its capital to P4.9 billion.

Prior to the capital infusion, Stanchart - the oldest foreign bank in the country - ranked 35th among the country's commercial banks with a capital of P900 million.

Other foreign banks than have a unibank license include HSBC and ING Barings.

With Stanchart's deposit base almost doubling in 2000 despite the country's sluggish economic growth, Stanchart expects its traditional deposit base to grow by 40% this year as against industry expectations of between 7% and 9%.

As of the first quarter of this year, Stanchart ranked 17th with total deposits of P27.75 billion and a total loan portfolio of P15.42 billion. Total assets stood at P36.9 billion.

- Cecille Yap, BusinessWorld

[lupuS]

Average Peso Lending Rates 07/18/01 (% per annum)

Local banks and subsidiaries of foreign banks 13.0072 - 14.5621
Foreign banks 11.9497 - 13.9543
Expanded commercial banks 12.6249 - 14.0862
Market average 12.5273 - 14.2009

- Bangko Sentral ng Pilipinas/BusinessWorld

[lupuS]

The ATM consortium Bancnet launched on Tuesday the first online interbank fund transfer facility (IBFT) in the Philippines. An IBFT enables Bancnet's 4.5 million cardholders to transfer funds from their ATM card to a deposit account in any of Bancnet's 33 member banks. The facility will initially be available to Citibank, Metrobank, Allied Bank, RCBC, Philtrust, PBCom, and Security Bank depositors.

[gutomlangyan]

Originally posted by zimdude
What do you think of Standard Chartered? Our company shifted to them for salary accounts.

i've been bangking with standard chartered for a couple of years now and they have good service. whether it's good for you depends on what type of banking services you require, though.

my impression is that standard chartered is going after the citibank crowd - big foreign bank with conservative policies. they are also agressively targeting the credit card sector. the interest rates they have are in the mid-end. somewhere in between bpi (low) and banco de oro (high) as with their exchange rates.

kung salary account, i guess it doesn't matter kasi you don't have any choice.

[freespirit]

Originally posted by gutomlangyan
...
my impression is that standard chartered is going after the citibank crowd - big foreign bank with conservative policies. they are also agressively targeting the credit card sector. the interest rates they have are in the mid-end. somewhere in between bpi (low) and banco de oro (high) as with their exchange rates.


i think all foreign banks have the same target market as citibank. and i think all major banks want to be big and yet have conservative policies. that way, they can avoid bank holidays. stricter lending policies and lower deposit rates (unless valued client) seem to be the ideal.

:hmm:

[lupuS]

The following statement was released today by the Corporate Communications department of UCPB:


03/14/2002 10:47 AM

Subject: Advisory

1. UCPB is not availing itself of BSP's standby liquidity facility contrary to what was reported today in The Philippine Daily Inquirer. Chairman Go met with BSP and PDIC officials merely as part of his normal duties as the new Chairman and Chief Executive Officer of the Bank.

2. UCPB is liquid, hence it does not need BSP's assistance. UCPB has an excellent franchise given the high quality of its service, its extensive branch network and the innovative character of its people; the focus on innovation in particular has enabled the bank to come out with new products and services many of which are considered market "firsts." Our depositors have remained loyal to the Bank in spite of some negative publicity. San Miguel Corporation has continued its strong support for the Bank.

3. UCPB is addressing its medium-term concerns: rebuilding its capital and enhancing its profitability. What Management is focusing on is raising new capital even while the ownership issue remains pending in the courts. Management has already drawn up several options.

4. For one, Management is considering all parties involved in the pending ownership issue and seek their authority to find ways to raise capital either via new capital infusion from these parties themselves or to look for outside investors. This is a win-win solution for all parties since this will result in protecting their interest in the Bank.

[metropolitan]

The worst local bank:

Metropolitan Bank and Trust Company

-this bank may be the largest but its the slowest
-you have to queue for more than 20 minutes for your simple transaction! (why because their tellers are so slolw, their managers or officers who are not busy won't even care to help)
-some branches only accept bills payment on Tuesdays and Thursdays!
-their ATMs are so annoying, it has voice instructions!

The worst foreign bank:

Standard Chartered
-their ATM card can't let you withdraw funds abroad!
-they don't even have internet banking unlike other foreign banks!

[KuyaDanny]

CORPORATE COMMUNICATIONS
07/08/2003 12:20 PM


To: Everybody
cc:
Subject: UCPB, PDIC SIGN P20-BILLION DEAL


UCPB, PDIC SIGN P20-BILLION DEAL

UCPB signed yesterday with the Philippine Deposit Insurance Corp. (PDIC) the Financial Assistance Agreement for the P20-billion package that will pave the way for the implementation of the bank's recapitalization program.

The agreement was signed at the PDIC headquarters in Makati City by UCPB chairman and chief executive officer Edward S. Go and PDIC president Ricardo M. Tan, in the presence of among others, Bangko Sentral ng Pilipinas Governor Rafael B. Buenaventura, Finance Undersecretaries Eric Recto and Ma. Gracia Pulido-Tan, and PCGG Commissioner Ruben C. Carranza.

Under the agreement, PDIC will purchase P13 billion of the bank's non-performing assets and subscribe to P7 billion worth of debt that the bank will issue.

Of the P13 billion, P8 billion will be an outright cash purchase; the balance of P5.0 billion will be paid in government securities and covered by a repurchase agreement after 10 years.

The debt issuance, on the other hand, will have a maturity of 10 years and will carry a concessionary fixed interest rate of 5 percent.

UCPB will benefit enormously from the deal. It will increase the bank's capital, reduce its level of non-performing assets, and enhance its revenue position.

The sale of the non-performing assets is expected to free up provisioning on these assets amounting to about P7.0 billion; the amount will revert immediately to capital. About P2 billion from the proceeds of the P7-billion debt issue will qualify as tier 2 capital. The balance will be converted to tier 2 capital as the bank expands its tier 1 capital base.

The substantial reduction in the bank's non-performing assets as a result of the sale will significantly improve the bank's bottom line. These assets represent the worst in the bank's inventory. UCPB incurs a huge cost to maintain these idle assets in its books. With the increase in capital and the improvement in its revenue position, UCPB can shift gears and compete more aggressively for market share.

[SILENTMAX]

# 1 for me is bpi :)

but then again im a little biased kasi dun ako nag work as an ojt.
good environment motivated people excelent disipline structure. i learned so much from their organization. i think my money will always be safe with them

to another 125 years of banking!!!

[Spyfrat]

iBank :)

[simonesez]

Anybody has the current numbers on bank time deposit rates.

[Carpe_Diem_Z]

*untog*

[mcgyver8]

Ako vote ko HSBC. They have a "real-time" system integrated banking system. My account is enrolled in phonebanking, internet banking, sms banking.

Real time meaning pag nag withdraw ako sa ATM, in about 5 seconds, or minsan di pa lumalabas yung pera sa ATM, magtetext na kaagad sa akin informing me of the amount of withdrawal. Same thing pag phonebanking, text agad sa akin.

This means pag may nag text sa akin na withdrawal tapos di ako nagwiwithdraw, alam ko agad.

Tapos unlike other banks, pag may nagdeposit, di ko makikita sa internet. Kailangan batch run muna. Dun naka post agad.
Kasi integrated yung mga internet, sms, phonebanking modules sa main system.

[angst]

Citibank has the worst customer service. Everytime you call their hotline, pabago-bago ang pinagsasabi nila and most of their agents are idiots. I have been planning to open a savings account with them but with my bad experience with their customer service reps, definitely Citibank is out of my list.

[starwish]

hsbc

[B-Mac]

Originally posted by angst
Citibank has the worst customer service. Everytime you call their hotline, pabago-bago ang pinagsasabi nila and most of their agents are idiots. I have been planning to open a savings account with them but with my bad experience with their customer service reps, definitely Citibank is out of my list.

I agree with angst! Citibank's CS sucks!

[mac_bolan00]

one thing characterizes commercial and consumer banking in the philippines: inefficiency. did it ever make you wonder why the yield on your 90-day peso time deposit has gone from 7% two years ago to sometimes less than 3.5% (gross)? ever wonder why the lowest borrowing rate is still above 10% for a bank-carry loan and as high as 24%? the reason is banks are increasing spread by brute force. they're doing this to support operating inefficiencies. they won't bring gross spread down to 5 percentage points. 5 PP is already considered 'third-world'. in some countries, it's a s low as 2.5%

too many executives with 200,000+ monthly salaries who do nothing but bring in 100 million peso-borrowers who'll default in a year's time, too many back room clerks (average of 3 for every frontline lending officer) when a good computer system can handle most of the work, too many tax-cheating borrowers who refuse to disclose their true net worth. and lastly, most lending officers don't even know how to look at financial statements right.

[KuyaDanny]

We have received this email from our friendly UCPB manager. FYI


Sent by: Ricardo Y. Lepatan
To: Everybody
Subject: Advisory re misleading BusinessWorld headline

BusinessWorld came out today with a grossly misleading headline, which read "Gov't bank runs to PDIC."

This headline is inconsistent with the main story about the talks that UCPB is holding with the Philippine Deposit Insurance Corp. (PDIC) for the conversion into equity of P12 billion in loans that it previously granted to the bank under the Financial Assistance Agreement (FAA) signed in July 2003.

Such conversion is consistent with the intent of the FAA to recapitalize the bank. This is not new. The bank has been talking to PDIC since early this year, and BusinessWorld has in fact reported on these talks last March.

If the conversion pushes through, it will be very positive for UCPB.

1. The conversion into equity of the P12 billion PDIC loan will increase UCPB’s Tier 1 capital to more than P15 billion, thus, strengthening the bank’s financial ratios..

2. It should be stressed that the conversion will not require additional fund infusion from the PDIC. There is no need for that. In fact, the bank prepaid ahead of schedule the P7.5-billion liquidity assistance provided by the PDIC in 2003.

3. The P12 billion being eyed for conversion into equity is part of the P20 billion FAA, which comprised of:

3.1. P8.0 billion in outright purchase of the bank's non-performing assets at face value;
3.2. P5.0 billion in purchase of non-performing loans with buyback at the end of 10 to 15 years; and
3.3. P7.0 billion in senior debt.

4. The P5.0 billion and P7.0 billion (total of P12 billion) are the portions of the FAA that UCPB is asking PDIC to convert to capital. These amounts are already with the bank so it will just be matter of converting these debts into equity.

5. In fact, of the P12 billion, P7.0 billion are actually eligible as Tier 2 capital and convertible to common shares of stock of UCPB under the terms and conditions of the FAA.

6. The other P5.0 billion represent the existing secured loans with mandatory buy back by UCPB after 10 to 15 years; its proposed conversion into Tier 2 capital will still provide for this 10- to 15-year redemption or repayment period.

7. It will be recalled that UCPB only entered into an FAA with PDIC only because the bank is constrained from using normal corporate avenues for raising its capital by the sequestration of majority of its shares of stocks and ongoing litigations of the legal issues arising from such sequestration.

8. If the bank were not sequestered, then it could have simply just issued a capital call to its stockholders or gone to the capital market for Tier 2 capital as our peers have done.

9. The PDIC and the BSP are aware that sequestration poses a big constraint on UCPB’s competitive position. Other banks are not similarly constrained. The conversion of the PDIC loan into equity will effectively level the playing field for UCPB.

10. Even as it works with this constraint, the bank has made strong headway in implementing its 10-year business plan. It has, among others, pre-paid ahead of schedule the P7.5 billion liquidity assistance from PDIC, sold P11.9 billion of non- performing loans under the Special Purpose Vehicle (SPV) law, and reduced operating losses by 41.7%.

[wandawoman]

OT: saan po bank okay mag-open ng dollar saving acct?

[redman]

security bank takes care of all my banking needs. ive a dollar account, an all in one checking account and a business account with them. i like that theres a branch just outside of the village.

with security bank im the big fish in a small pond. i get excellent service and vip treatment. im usually in and out in less than 5 minutes even when i make complex transactions. im served coffee the way i prefer it and the paper of my choice in my usual seat when im there in the morning or tea or any beverage i want when im there in the afternoon.

[doremifasolati]

To those who are interested in working at Citibank, they have an opening for an Officer position. They need few more people to fill the slots for their intensive training on August 10.

Just drop by on August 8 (Monday) at 14/F Citibank Tower, 1 Eastwood Avenue, Eastwood City, Libis, Quezon City and look for Ms. Nona G. Reyes. The application is usually a one-day or two-day process that consists of a written examination and series of intensive interviews. The exam usually starts at exactly 9AM and 2PM, so please be on time.

Kindly bring your application letter, resume, transcript of records, and a 2x2 picture. If you have questions just call Ms. Nona G. Reyes, Assistant Manager of Country Human Resources Group at 9958039 / 9959105.

[rabbaddal]

Corporate Banking:

1. Citibank
2. ING
3. ABN AMRO
4. Standard Chartered
5. HSBC

Investment Banking:

1. ATR Kim Eng

Consumer Banking:

1. East West Bank
2. BPI Family Bank
3. PS Bank
4. HSBC

[bobbypins]

do any of you have thoughts on banco de oro? i just opened a savings account with them awhile ago, for the simple reason that most of their bank branches are open until 5:30, some (like the ones in megamall) are open until 6 and 7 pm. I also appreciated their website, which was easier to understand than the others (i checked metrobank, unionbank, and rcbc among others). i'm just wondering why banco de oro isn't mentioned here? is it not a good bank? did i just make a mistake? hehe.

thanks everyone. :)

[ahock]

I guess because the thread started way back 2000 :-D

[dA^mAtRiX]

i think banco de oro is ok.

very aggressive. buying all the small banks it can, and transforming it to a banco de oro branch.

[metropolitan]

for me the best bank is the one that is near my place of work and/or house and offers various savings services such as ATMs that accept deposit envelopes, internet banking, mobile banking (to check balances)

[blueharmony]

I love Banco de Oro. That's where I keep most of my money. They have a rewards program pa. Like, I get P10 sa SM rewards card for the first $300 and P10 for every 100. I kept mga $2000 lang and in one month, I got mga P150 na. (monthly ito ha!) I also use their mastercard kasi the points go to SM rewards.

The only thing I don't like is that I can't check my credit card balance online, pero the rest okay na.

BDO has lots of money kasi Henry Sy sold his stake sa Chinabank di ba? BDO has nowhere to go but up. (Although natakot ako dati kasi nagbagsakan mga NAV ng mga banks. I earned 4% in 6 months for my 100K+ placement).

[ahock]

I have in BDO BPI and EPCIB.... Actually I'm very tied up sa BPI kasi dun binabagsak sweldo ko.... so yung iba more on diverisifcation lang say if I go to this mall and walang BPI ATM at least I still have other options....

[business_guy]

Top 5 banks (FYI :-) ):

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. EPCIB - P324.8 billion (as of December 2006)*
4. Landbank - P315 billion (as of June 2006)^
5. BDO - P290.35 billion (as of September 2006)*^

*When BDO and EPCIB merged officialy - that is when BDO converted EPCIB completely, BDO-EPCIB, Inc. is worth P615.15 billion making it the second largest bank in terms of assets....

^Haven't posted December 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://bdo.com.ph ....

[business_guy]

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. EPCIB - P324.8 billion (as of December 2006)*
4. Landbank - P315 billion (as of June 2006)^
5. BDO - P290.35 billion (as of September 2006)*^
6. PNB - P223.1 billion (as of December 2005)^~
6. RCBC - P185 billion (as of December 2005)^~
7. Unionbank - P146 billion (as of Decmber 2006)
8. Chinabank - P143.4 billion (as of June 2006)^
9. Allied Bank - P121.9 billion (as of December 2005)^~

*When BDO and EPCIB merged officialy - that is when BDO converted EPCIB completely, BDO-EPCIB, Inc. is worth P615.15 billion making it the second largest bank in terms of assets....

^Haven't posted December 2006 Statements of Condition....

^Haven't posted any 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://bdo.com.ph

PNB - http://www.pnb.com.ph

RCBC - http://www.rcbc.com

Unionbank - Philippine Star, Business Section, February 4, 2007

Chinabank - http://www.chinabank.com.ph

Allied Bank - http://www.alliedbank.com.ph ....

[wandawoman]

well i can only give comments on the banks that I had/have an account:

BPI - i am able to maximize thier online facility, account transfer, bills payments, remittance checking, and the customer service is fast enough to reply on my querries

LANDBANK - medyo mabagal ang service ng mga teller, since govt bank nga ito, refrain from visiting them on Mondays dahil maraming tao and most of them are retirees na, or those transactions with SSS / pension, BIR payments...

ALLIED BANK - one particular branch in Las Pinas, mabagal ang service ng mga tellers

[newkid]

Good update business_guy. Keep it coming. *okay*

[green_apples]

Ibank, now Union Bank is a relatively stable bank. I like the personalized service that I get. It is also easier to remit payment with Western Union

[alyssafox]

i can only rate the banks where i have an account

BPI- above average, daming branches and atm. you can also check your accounts online.

Metrobank - ok lang, dami branches kaso pag pumunta ka sa branches and need to go to the teller, haba ng pila grabehh...minsan nk tayo ka pa :(

Unionbank - worst.. mag oopen pa lang ako ng account dami na hassle. di ka basta papasukin ng guard dito at tatanungin ka kung ano kailangan mo. sabi ko mag oopen ako nga account. sabi nung guard sakin kung taga mcdo daw ako. sabi ko hindi. mukha siguro akong crew ng mcdo..hehehe..weird nya ha. at least mukha pa pala akong bagets. tapos pag punta ko sa table para mag open ng account may babaeng nagsisigaw at nagrereklamo sa manager..gabehh kaloka talaga kaya super labas ako ng bangko.

gusto ko kasi talaga mag apply ng debit card sa kanila para macheck ko online ang statements ko na di ko magawa with my Metrobank credit card so bumalik ako sa kanila. pag balik ko di daw puede mag open ng account at offline daw sila......hay naku..bulok na bangko..grabehhhh talaga

so ginawa ko bumalik pa rin sa unionbank different branch...mag oopen na ako ng account , super suplado ng officer.parang ayaw nyang may nag oopen ng bank account sa kanila. tinanong nya me kung san daw ako nag wowork. ive just resign sa work to setup may business so i said to him i dont have work. sabi nya di nya daw ako maoopen ng account at advise nya try ko na lang daw yung eon cyberaccount nila...hay naku maloloka talaga ako sa bangko na ito...it sucks talaga big time...now im scared kasi na approved yung account ko sa kanila :(

[business_guy]

I may sound bias (lol), but I'll go for BPI. Aside from having an accounts in BPI, people (staffs) are very knowledgeable about products and services. Even tellers knows the Bank's products kahit sobrang daming products ng BPI. Also, employees of the bank are very versatile. Pag may nag leave or absent sa kanila, that would not be a problem to them, unlike with other banks, na na-encounter ko, pag may nag absent, they have to call their employees para to ask how to do this or that. Fast service and mabilis ang pick-up ng mga staffs.

[business_guy]

Most profitable banks in the Philippines (As of December 2006):

1. BPI - P9 billion
2. Metrobank - P5.5 billion

Largest Bank in terms of Market Capitalization (as of February 16, 2007) Source: www.pse.ph:

1. BPI - Php 192,012,402,414.00
2. MBTC - Php 122,894,315,800.00
3. EPCIB - Php 85,786,394,710.00*
4. BDO - Php 61,569,475,072.00*
5. CBC (Chinabank) - Php 54,881,348,930.00

*Merged bank BDO and EPCIB market capitalization would be
Php 147,355,869,782.00 making them the second largest bank in terms of market capitalization....

[business_guy]

i can only rate the banks where i have an account

BPI- above average, daming branches and atm. you can also check your accounts online.

Metrobank - ok lang, dami branches kaso pag pumunta ka sa branches and need to go to the teller, haba ng pila grabehh...minsan nk tayo ka pa :(

Unionbank - worst.. mag oopen pa lang ako ng account dami na hassle. di ka basta papasukin ng guard dito at tatanungin ka kung ano kailangan mo. sabi ko mag oopen ako nga account. sabi nung guard sakin kung taga mcdo daw ako. sabi ko hindi. mukha siguro akong crew ng mcdo..hehehe..weird nya ha. at least mukha pa pala akong bagets. tapos pag punta ko sa table para mag open ng account may babaeng nagsisigaw at nagrereklamo sa manager..gabehh kaloka talaga kaya super labas ako ng bangko.

gusto ko kasi talaga mag apply ng debit card sa kanila para macheck ko online ang statements ko na di ko magawa with my Metrobank credit card so bumalik ako sa kanila. pag balik ko di daw puede mag open ng account at offline daw sila......hay naku..bulok na bangko..grabehhhh talaga

so ginawa ko bumalik pa rin sa unionbank different branch...mag oopen na ako ng account , super suplado ng officer.parang ayaw nyang may nag oopen ng bank account sa kanila. tinanong nya me kung san daw ako nag wowork. ive just resign sa work to setup may business so i said to him i dont have work. sabi nya di nya daw ako maoopen ng account at advise nya try ko na lang daw yung eon cyberaccount nila...hay naku maloloka talaga ako sa bangko na ito...it sucks talaga big time...now im scared kasi na approved yung account ko sa kanila :(

As of September 2006, BPI has 1448 ATMs and 820 branches nationwide (to include BPI's other subsidiaries and Affiliates local and international - it will reach more than 1,400 branches)....

[business_guy]

Updated (as of February 19, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P290.35 billion (as of September 2006)^
6. RCBC - P227.3 billion (as of December 2006)
7. PNB - P223.1 billion (as of December 2005)^~
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P143.4 billion (as of June 2006)^
10. Allied Bank - P121.9 billion (as of December 2005)^~

^Haven't posted December 2006 Statements of Condition....

^Haven't posted any 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://bdo.com.ph

PNB - http://www.pnb.com.ph

RCBC - http://www.rcbc.com

Unionbank - Philippine Star, Business Section, February 4, 2007

Chinabank - http://www.chinabank.com.ph

Allied Bank - http://www.alliedbank.com.ph ....[/QUOTE]

[business_guy]

Updated (as of March 1, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P290.35 billion (as of September 2006)^
6. RCBC - P227.3 billion (as of December 2006)
7. PNB - P223.1 billion (as of December 2005)^~
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P143.4 billion (as of June 2006)^
10. Allied Bank - P127.5 billion (as of December 2006)

^Haven't posted December 2006 Statements of Condition....

^Haven't posted any 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://bdo.com.ph

PNB - http://www.pnb.com.ph

RCBC - http://www.rcbc.com

Unionbank - Philippine Star, Business Section, February 4, 2007

Chinabank - http://www.chinabank.com.ph

Allied Bank - http://www.alliedbank.com.ph ....

[sillyputty]

based on my limited experience on certain banks...

bpi - daming branches at atm sa makati. consistent na magaling at mabait ang staff kahit saang branch ako mapunta. kahit madaming tao e di ganun katagal ang pila kasi mabilis sila. GREAT online experience.
hassle lang magpapalit ng online password via phone.

metrobank - current payroll acct. konti lang ang atm. mabagal ang service. so-so online banking compared to bpi.

bdo - good rates on forex. good phone banking(call center). bad experience with their tellers. Di nila alam yung products nila. Tapos sinabi ko iconfirm sa boss nya meron nga daw. magi-invest sana ako sa uitf kaso sabi sa akin e di daw pwede sa public. kailangan daw corporation. umuwi ako at tumawag sa call center nila. sabi dapat daw pwede. tinawagn nila yung branch(mega b). pagbalik ko kinabukasan pwede na. hassle sobra.

hsbc - good phone banking. easy to talk to agents.

citibank - bad exp on their phone banking. di nila alam products nila. kulit pa, laging naga-alok ng card

amex savings bank - excellent phone banking. will give you all the info that you need.

[tidus1203]

BPI - the best in terms of convinience since daming branches, daming ATM, and their online facility is above average. Their con is that they have mediocre rates and they have a lot of fees (Imagine if I wanted to withdraw money via manager's check may bayad pa??)

BDO - Good rates and they can waive fees easily. Their online banking is adequate pero BPI's is better. They have less ATM than BPI pero still adequate. The best when you're shopping at SM malls :lol:

[business_guy]

BPI - the best in terms of convinience since daming branches, daming ATM, and their online facility is above average. Their con is that they have mediocre rates and they have a lot of fees (Imagine if I wanted to withdraw money via manager's check may bayad pa??)

BDO - Good rates and they can waive fees easily. Their online banking is adequate pero BPI's is better. They have less ATM than BPI pero still adequate. The best when you're shopping at SM malls :lol:

For Manager's check, P48.50 ang Commission and P1.50 for documentary Stamps. Manager's Check really comes with fees even with other banks. Good as cash kasi ang MC and usually, MCs ang required mode of payment ng ibang companies or embassy....

[business_guy]

BPI once again awarded as Best Bank in the Philippines for 2006 (Two consecutive years) by the World's most prestigious banking awards - The Banker.....

Source: http://www.thebanker.com/news/fullstory.php/aid/4615/Philippines.html

[tidus1203]

For Manager's check, P48.50 ang Commission and P1.50 for documentary Stamps. Manager's Check really comes with fees even with other banks. Good as cash kasi ang MC and usually, MCs ang required mode of payment ng ibang companies or embassy....

Alam ko there is cost to issuing MC's pero sa BDO libre lang kung baga the bank shoulders it na*okay*

[business_guy]

Alam ko there is cost to issuing MC's pero sa BDO libre lang kung baga the bank shoulders it na*okay*

BPI free ang commission fee of MC, if and only if you are a very preferred client ;) ....

[kihtmaine]

Metrobank and BPI here (family Savings and express online).

Next account BDO.

[business_guy]

Updated (as of March 17, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)*
6. RCBC - P227.3 billion (as of December 2006)
7. PNB - P223.1 billion (as of December 2005)^~
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P143.4 billion (as of June 2006)^
10. Allied Bank - P127.5 billion (as of December 2006)

The Current Top Three Banks (Merged Bank BDO & EPCIB) as of December 2006:

1. METROBANK - Php641.5 billion
2. Banco de Oro-EPCI, Inc.- Php630.78 billion
3. BPI- Php582 billion


*In the last quarter of 2006, BDO was ranked 5th in terms of resources, loans, deposits and capital according to industry data. The Bank's consolidated total assets as of end-2006 was at P305.97 billion, up from year-end 2005 level of P234.0 billion. Asset quality indicators (NPL & NPA) are among the best in the industry.

^Haven't posted December 2006 Statements of Condition....

~Haven't posted any 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://www.bdo.com.ph

PNB - http://www.pnb.com.ph

RCBC - http://www.rcbc.com

Unionbank - Philippine Star, Business Section, February 4, 2007

Chinabank - http://www.chinabank.com.ph

Allied Bank - http://www.alliedbank.com.ph ....

[tidus1203]

http://www.bdo.com.ph/News/12846.htm

Good news mga BDO depositors and EPCI depositors. From now on the 2 banks have merged their ATM's so the use of either ATM's is now free....

[business_guy]

Updated (as of March 21, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)*
6. RCBC - P227.3 billion (as of December 2006)
7. PNB - P223.1 billion (as of December 2005)^~
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P155.49 billion (as of December 2006)
10. Allied Bank - P127.5 billion (as of December 2006)

The Current Top Three Banks (Merged Bank BDO & EPCIB) as of December 2006:

1. METROBANK - Php641.5 billion
2. Banco de Oro-EPCI, Inc.- Php630.78 billion
3. BPI- Php582 billion


*In the last quarter of 2006, BDO was ranked 5th in terms of resources, loans, deposits and capital according to industry data. The Bank's consolidated total assets as of end-2006 was at P305.97 billion, up from year-end 2005 level of P234.0 billion. Asset quality indicators (NPL & NPA) are among the best in the industry.

^Haven't posted December 2006 Statements of Condition....

~Haven't posted any 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://www.bdo.com.ph

PNB - http://www.pnb.com.ph

RCBC - http://www.rcbc.com

Unionbank - Philippine Star, Business Section, February 4, 2007

Chinabank - http://www.chinabank.com.ph

Allied Bank - http://www.alliedbank.com.ph ....

[Zah_65]

does anyone know how much to open a BDO International ATM Card? i forgot to drop by the bank today. may mastercard logo kasi, and since im not qualified to get a credit card, that's the next best thing. gagamitin ko kasi for shopping on ebay. ^_^

[tidus1203]

No limit yan. Its tied to a savings or checking account. In BDO's case the minimum deposit for savings is P1000 ata or was it P2000 and for checking P5000.... Its a debit card so once you buy it automatically gets deducted from your account.

[TravelBug]

What name will the BDO-Equitable PCI merger carry? 3-in-1 na ito, parang instant coffee hehe.

[Altwegg]

I have a BDO International ATM card and the opening and minimum maintaining balance to avoid a service fee is P1,000.

:D

[business_guy]

What name will the BDO-Equitable PCI merger carry? 3-in-1 na ito, parang instant coffee hehe.

The name of the merged bank will be Banco de Oro-EPCI, Inc.

[business_guy]

Just read on a newspaper, Banco de Oro-EPCI, Inc. had a total resources around P645 billion as of December 2006. Meaning, Metrobank is not the country's largest bank. We have to wait by mid-April to know the financial condition of the top 3 banks as of March 31, 2007. Banks posts their total resources every quarter. I'll keep you updated on that....

[TravelBug]

How come when BPI and Far East merged, they dropped the name of the latter? Why didn't they do the same here? Someday we might end up having a bank called Banco de Oro-EPCI-Allied-Metro-Union International Exchange Bank.

[business_guy]

How come when BPI and Far East merged, they dropped the name of the latter? Why didn't they do the same here? Someday we might end up having a bank called Banco de Oro-EPCI-Allied-Metro-Union International Exchange Bank.

It depends on the agreement of banks. In the case of BPI acquiring Far East Bank, Far East Bank has never been mentioned after BPI bought them up. Recently, BPI bought Prudential Bank, and like Far East Bank, Prudential Bank's name will never be heard again. Big banks in the country are hungry for aquisitions of smaller banks these days. To give you something to think of, BPI is again acquiring another bank, but I can't say which is it, because it is not yet official. If the agreement is successful, the merge would surely dislodge the current top 2 banks (based on their current assets)....

[TravelBug]

These acquisitions and mergers may be not be good for us after all. Less banks, less competition, less choices for depositors. Now we're stuck with huge banks that offer very low interest rates and mediocre customer service.

[metropolitan]

These acquisitions and mergers may be not be good for us after all. Less banks, less competition, less choices for depositors. Now we're stuck with huge banks that offer very low interest rates and mediocre customer service.

i'd like to mention that i've yet to see a big bank with any kind of customer service.

[Zah_65]

I have a BDO International ATM card and the opening and minimum maintaining balance to avoid a service fee is P1,000.

:D


thanx for the info! buti na lang mababa lang. i thought it has to be P5,000. i can definitely open an account by next week!

[business_guy]

i'd like to mention that i've yet to see a big bank with any kind of customer service.

I agree with you. Too sad to hear that we hear more of the cons than the pros. But I'm pretty sure that there are some bank branches that has good customer service....

[susmariosep]

Rate some banks -- what's a good bank in the Phils?


What is good for me? It is anything that I welcome.

In regard to bank, they keep money of other people and make money for themselves, i.e., the owners, from our money.

They therefore welcome your money; and I also welcome money, so if a bank shares with me the money they make from the money I let them keep for me, then I welcome that and thereby that bank for me is a good bank.

No, I have not come across any good bank on that basis, from since when I started using banks.

Yes, they keep my money safe from my fail-prone memory as to where I hid my money, and also from theft, fire, flooding, insects, rats; and yes, also they make some financial transactions more convenient for me, like receiving money on my behalf from people who have to pay me, and paying people for me whom I owe money to.


That said, banks are still not good enough for me, because as I said they use my money to make money for themselves, i.e., the owners; but they don't share with me the money they make using my money,


Now here is a suggestion which I don't think anyone has ever thought up, much less the owners of banks.

First, every year banks report glowingly that they have made billions of pesos, and from whose money? from our money, the depositors, of course.

Second, it is in effect like banks are borrowers and we the depositors are their creditors or lenders, except for this difference: when we borrow money from the bank, aside from the interest they impose on us which is always higher than the measly interest they give us for putting our money in their hands for 'safekeeping', they in this respect the borrowers don't have to put up any collaterals, unlike when we are the ones borrowing money from them, we have to put up collaterals' so that if we don't pay our debts plus the high interests, they confiscate our lands and homes.

Again, also on that basis, there is no good bank, on that token all banks are very in-equitous and thereby iniquitous.


Now, here is where banks can be good collective persons in my belief.

I said that they report every year glowingly the billions in profits they earn using our money. Suppose they share with us the depositors those billions of profits they acquire using our money, in addition to the meager interest which practically amounts to pennies they throw our way for our deposits.

How should they go about sharing with their depositors the billions they make from our money?

First, of course they are entitled to their rightful portion of the yearly profits, say, perhaps 30% of the net earnings. Then the remainder will be distributed to their depositors, to be computed in accordance with the size of the deposit a client has placed in the bank and also the years of faithful tenancy maintained by each depositor on his money in the bank.

The details of such an arrangement can be worked out between bank owners and their clients.


That is the only reason whereby I will consider a bank to be deserving of the adjective 'good'; otherwise all banks are in-equitous and thereby iniquitous, at most a necessary evil or iniquity.


[Sorry for the less than elegant exposition, but you get the idea.]



Susmariosep

[business_guy]

Rate some banks -- what's a good bank in the Phils?


What is good for me? It is anything that I welcome.

In regard to bank, they keep money of other people and make money for themselves, i.e., the owners, from our money.

They therefore welcome your money; and I also welcome money, so if a bank shares with me the money they make from the money I let them keep for me, then I welcome that and thereby that bank for me is a good bank.

No, I have not come across any good bank on that basis, from since when I started using banks.

Yes, they keep my money safe from my fail-prone memory as to where I hid my money, and also from theft, fire, flooding, insects, rats; and yes, also they make some financial transactions more convenient for me, like receiving money on my behalf from people who have to pay me, and paying people for me whom I owe money to.


That said, banks are still not good enough for me, because as I said they use my money to make money for themselves, i.e., the owners; but they don't share with me the money they make using my money,


Now here is a suggestion which I don't think anyone has ever thought up, much less the owners of banks.

First, every year banks report glowingly that they have made billions of pesos, and from whose money? from our money, the depositors, of course.

Second, it is in effect like banks are borrowers and we the depositors are their creditors or lenders, except for this difference: when we borrow money from the bank, aside from the interest they impose on us which is always higher than the measly interest they give us for putting our money in their hands for 'safekeeping', they in this respect the borrowers don't have to put up any collaterals, unlike when we are the ones borrowing money from them, we have to put up collaterals' so that if we don't pay our debts plus the high interests, they confiscate our lands and homes.

Again, also on that basis, there is no good bank, on that token all banks are very in-equitous and thereby iniquitous.


Now, here is where banks can be good collective persons in my belief.

I said that they report every year glowingly the billions in profits they earn using our money. Suppose they share with us the depositors those billions of profits they acquire using our money, in addition to the meager interest which practically amounts to pennies they throw our way for our deposits.

How should they go about sharing with their depositors the billions they make from our money?

First, of course they are entitled to their rightful portion of the yearly profits, say, perhaps 30% of the net earnings. Then the remainder will be distributed to their depositors, to be computed in accordance with the size of the deposit a client has placed in the bank and also the years of faithful tenancy maintained by each depositor on his money in the bank.

The details of such an arrangement can be worked out between bank owners and their clients.


That is the only reason whereby I will consider a bank to be deserving of the adjective 'good'; otherwise all banks are in-equitous and thereby iniquitous, at most a necessary evil or iniquity.


[Sorry for the less than elegant exposition, but you get the idea.]



Susmariosep

Your perception about a good bank is great, but then, it is very imaginary. Please forgive me on saying that. Yes banks keeps big profits. It may sound selfish, but on the other hand, it is for our good. Do you think banks will survive if they generously give out very high interest rates (70% of the profit is very high) to clients???? Banks secures profit to maintain it's stability - this is to protect their client's placement. But Susmariosep, your perception is ideal for me....

[susmariosep]

Your perception about a good bank is great, but then, it is very imaginary. Please forgive me on saying that. Yes banks keeps big profits. It may sound selfish, but on the other hand, it is for our good. Do you think banks will survive if they generously give out very high interest rates (70% of the profit is very high) to clients???? Banks secures profit to maintain it's stability - this is to protect their client's placement. But Susmariosep, your perception is ideal for me....

I believe that bank owners don't really have to keep all that giant net profit; the only reason is because they are greedy. Their banks could be as well and even more profitable and to more people, if they share the gains they acquire from depositors' money with depositors. You can only imagine how many more depositors and good ones at that they will get with such a policy.

That is what's wrong with a purely capitalistic society, it caters to greed and pamper the greedy, so that there is a big chasm between the haves and the have-nots.

I think that if we examine the rich guys in the world and the richest among them, they will all be found in purely capitalistic society like the US and also in poor regions of the world, the Philippines. However, not all the people least of all in the Philippines are properly provided for in their society.

Consider a country like Finland which produces the best cellphones and sells the most cellphones in the world, and is a most technologically advanced society, they don't have among themselves the most rich people in the world; but everyone there is living a comfortable life.

Why? Because they make sure that people who make so much money are by law taxed so very much that thereby the government can provide for everyone according to his needs.

No, they don't cater to greed and they don't pamper the greedy; and yet people are motivated to produce and to improve the economy of their country.

No, it's not true that greed and greedy people will advance the economic conditions and progress of a nation -- that is absolutely a myth of the rich to hoodwink the poor, to keep the wealth of a country to themselves.


Correct me if I am woefully mistaken.


Susmariosep

[business_guy]

Updated (as of April 21, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P641.5 billion (as of December 2006)
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)*
6. RCBC - P224.7 billion (as of March 2007) - down P2.6 billion from P227.3 billion last December 2006
7. PNB - P223.1 billion (as of December 2005)^~
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P155.49 billion (as of December 2006)
10. Allied Bank - P127.5 billion (as of December 2006)

The Current Top Three Banks (Merged Bank BDO & EPCIB) as of December 2006:

1. METROBANK - Php641.5 billion
2. Banco de Oro-EPCI, Inc.- Php630.78 billion
3. BPI- Php582 billion


*In the last quarter of 2006, BDO was ranked 5th in terms of resources, loans, deposits and capital according to industry data. The Bank's consolidated total assets as of end-2006 was at P305.97 billion, up from year-end 2005 level of P234.0 billion. Asset quality indicators (NPL & NPA) are among the best in the industry.

^Haven't posted December 2006 Statements of Condition....

~Haven't posted any 2006 Statements of Condition....

Sources:
Metrobank - Philippines Daily Inquirer, Business Section, Februray 1, 2007

BPI - http://www.bpi.com.ph

EPCIB - http://www.epcib.com.ph

Landbank - http://www.landbank.com

BDO - http://www.bdo.com.ph

PNB - http://www.pnb.com.ph

RCBC - http://www.rcbc.com, http://www.philstar.com/philstar/NEWS200704210705.htm

Unionbank - Philippine Star, Business Section, February 4, 2007

Chinabank - http://www.chinabank.com.ph

Allied Bank - http://www.alliedbank.com.ph ....

[doc pio]

I don't really care how much a bank has, what matters to me is how much money they're going to give me. But seriously, when it comes to interst rate, the best banks I deal with are Bank of Commerce and Security Bank. When it comes to service, I really like RCBC, Allied Bank, Metrobank, and BDO. The local branch I deal with na Equitable, pangit! BPI, masyado na yatang marami ang depositors, parang palengke! Citibank Savings is also good, pero medyo slow(maski ako lang ang client at that time). sorry guys ha, I don't use an ATM, nor do I use on-line service. Other people can give advice about these.

[business_guy]

I don't really care how much a bank has, what matters to me is how much money they're going to give me. But seriously, when it comes to interst rate, the best banks I deal with are Bank of Commerce and Security Bank. When it comes to service, I really like RCBC, Allied Bank, Metrobank, and BDO. The local branch I deal with na Equitable, pangit! BPI, masyado na yatang marami ang depositors, parang palengke! Citibank Savings is also good, pero medyo slow(maski ako lang ang client at that time). sorry guys ha, I don't use an ATM, nor do I use on-line service. Other people can give advice about these.

Advice or opinion lang, try mo mag atm. Maraming benefits ang maibibigay sa iyo ng ATM. Not just withdrawing of cash. Too many advantages to mention. I think you have to go to your ideal bank and discuss with them the convenience of having ATM. On-line service, like ATM, too many to mention. Well, try visiting BPI website, because they have on line tour on how to use on-line banking....

[susmariosep]

I don't really care how much a bank has, what matters to me is how much money they're going to give me. But seriously, when it comes to interst rate, the best banks I deal with are Bank of Commerce and Security Bank. When it comes to service, I really like RCBC, Allied Bank, Metrobank, and BDO. The local branch I deal with na Equitable, pangit! BPI, masyado na yatang marami ang depositors, parang palengke! Citibank Savings is also good, pero medyo slow(maski ako lang ang client at that time). sorry guys ha, I don't use an ATM, nor do I use on-line service. Other people can give advice about these.

I said earlier in a similar vein that the only banks which deserve the adjective of good, for me, is one that shares its billions of yearly profit with its faithful depositors.

Now I have heard from a poster in my thread on "Want to meet people who have doubled their money..." (http://www.pinoyexchange.com/forums/showpost.php?p=19645573&postcount=34), that BPI can and will give also 20% interest as to double your original placement, if you talk to them and convince them.

I think that is very believable. You see, many depositors of banks usually have only less than 1,000 pesos balance; now if you have millions to turn over to a bank for their use, they might seize the opportunity to get control of it, otherwise it would be lost to other banks; because they can make more money from your millions than the double they will return to you in five years -- but they can't do much with the ocean of small depositors always left with less than 1,000 pesos balance.

Yes, if a bank can be talked into doubling your money, then it is a good bank -- in my book.


Susmariosep

[doc pio]

You've actually piqued my interest. In you particular case, how has banking on-line helped you? I really value first person evaluations rather than what any bank website tells me.

[business_guy]

You've actually piqued my interest. In you particular case, how has banking on-line helped you? I really value first person evaluations rather than what any bank website tells me.

Thanks. On-line banking helped me a lot, because it gave me a lot of convenience. First, I don't need to go to a bank just to pay for bills like Meralco, Credit Card Billing, Water, Cable, Post paid bills, fund transfer, checking my time deposit status, paying my BIR online, and many more. I make my transactions at home. There were times that I went abroad, I need not to worry, because as long as you have internet access, you can pay your bills on time. Isn't sometimes going to bank a big "abala" to us, just to pay those bills???? I just go to bank when I do make deposits, or enrolling other bills to them, so that I can settle my account at home. I can even order checkbooks online, and the bank will call mee up when my checkbook arrives. Very convenient for me. At first, I was also hesitant to use on-line banking, but after and currently using it, I realized that it helped me a lot. It saves a big fraction on my golden time. I mean, banking for me need not to take long time just to furnish a transation....

[knn]

duh? why walang BDO?

[TravelBug]

Thanks. On-line banking helped me a lot, because it gave me a lot of convenience. First, I don't need to go to a bank just to pay for bills like Meralco, Credit Card Billing, Water, Cable, Post paid bills, fund transfer, checking my time deposit status, paying my BIR online, and many more. I make my transactions at home. There were times that I went abroad, I need not to worry, because as long as you have internet access, you can pay your bills on time. Isn't sometimes going to bank a big "abala" to us, just to pay those bills???? I just go to bank when I do make deposits, or enrolling other bills to them, so that I can settle my account at home. I can even order checkbooks online, and the bank will call mee up when my checkbook arrives. Very convenient for me. At first, I was also hesitant to use on-line banking, but after and currently using it, I realized that it helped me a lot. It saves a big fraction on my golden time. I mean, banking for me need not to take long time just to furnish a transation....
I hear ya. In my case, I am a nocturnal animal hehe. I work at night and it would be very difficult for me to go to a bank and waste at least an hour just to make a withdrawal. Hilo na ako sa antok before I can step out of a branch. Sorry but I have to say this. BPI seems to be the worst when it comes to over the counter transactions, especially during payday. Lalo na kung may nauna sa iyo na messenger at multiple transactions ang gagawin. Naknangtipaklong, 2 hours ka sa pila.

ATMs are wonderful. I can withdraw money anytime, anywhere as long as there is a machine of course. For online banking, I do bills payment, funds transfer, open accounts and everything and anything an online banking facility offers. I utilize the technology available to its fullest extent. This is actually a requirement of mine when I check out a bank. If they don't offer online banking, then they will never touch my hard-earned money.

Best online banking facility: Citibank
Worst online banking facility: Banco de Oro and EPCI

[business_guy]

I hear ya. In my case, I am a nocturnal animal hehe. I work at night and it would be very difficult for me to go to a bank and waste at least an hour just to make a withdrawal. Hilo na ako sa antok before I can step out of a branch. Sorry but I have to say this. BPI seems to be the worst when it comes to over the counter transactions, especially during payday. Lalo na kung may nauna sa iyo na messenger at multiple transactions ang gagawin. Naknangtipaklong, 2 hours ka sa pila.

ATMs are wonderful. I can withdraw money anytime, anywhere as long as there is a machine of course. For online banking, I do bills payment, funds transfer, open accounts and everything and anything an online banking facility offers. I utilize the technology available to its fullest extent. This is actually a requirement of mine when I check out a bank. If they don't offer online banking, then they will never touch my hard-earned money.

Best online banking facility: Citibank
Worst online banking facility: Banco de Oro and EPCI

Well, I'm using BPI on-line facility. It's great. All my utility, credit card, and insurance policies bills are enrolled in my BPI Express Online. If in anycase you forgot your password, you don't need to go to your branch of account to reset your password. Just call 89-100, and you can have your password reset immediately. I can even do FOREX transactions in BPI Express Online. I've tried BDO on-line facility. If in any case you forgot your password, you need to go to thier branch of account to reset, and sometimes it takes days for you to use their on-line facility....

[business_guy]

I hear ya. In my case, I am a nocturnal animal hehe. I work at night and it would be very difficult for me to go to a bank and waste at least an hour just to make a withdrawal. Hilo na ako sa antok before I can step out of a branch. Sorry but I have to say this. BPI seems to be the worst when it comes to over the counter transactions, especially during payday. Lalo na kung may nauna sa iyo na messenger at multiple transactions ang gagawin. Naknangtipaklong, 2 hours ka sa pila.

ATMs are wonderful. I can withdraw money anytime, anywhere as long as there is a machine of course. For online banking, I do bills payment, funds transfer, open accounts and everything and anything an online banking facility offers. I utilize the technology available to its fullest extent. This is actually a requirement of mine when I check out a bank. If they don't offer online banking, then they will never touch my hard-earned money.

Best online banking facility: Citibank
Worst online banking facility: Banco de Oro and EPCI

Well, I'm using BPI on-line facility. It's great. All my utility, credit card, and insurance policies bills are enrolled in my BPI Express Online. If in anycase you forgot your password, you don't need to go to your branch of account to reset your password. Just call 89-100, and you can have your password reset immediately. I can even do FOREX transactions in BPI Express Online. I've tried BDO on-line facility. If in any case you forgot your password, you need to go to thier branch of account to reset, and sometimes it takes days for you to use their on-line facility....

[business_guy]

I hear ya. In my case, I am a nocturnal animal hehe. I work at night and it would be very difficult for me to go to a bank and waste at least an hour just to make a withdrawal. Hilo na ako sa antok before I can step out of a branch. Sorry but I have to say this. BPI seems to be the worst when it comes to over the counter transactions, especially during payday. Lalo na kung may nauna sa iyo na messenger at multiple transactions ang gagawin. Naknangtipaklong, 2 hours ka sa pila.

ATMs are wonderful. I can withdraw money anytime, anywhere as long as there is a machine of course. For online banking, I do bills payment, funds transfer, open accounts and everything and anything an online banking facility offers. I utilize the technology available to its fullest extent. This is actually a requirement of mine when I check out a bank. If they don't offer online banking, then they will never touch my hard-earned money.

Best online banking facility: Citibank
Worst online banking facility: Banco de Oro and EPCI

Well, I'm using BPI on-line facility. It's great. All my utility, credit card, and insurance policies bills are enrolled in my BPI Express Online. If in anycase you forgot your password, you don't need to go to your branch of account to reset your password. Just call 89-100, and you can have your password reset immediately. I can even do FOREX transactions in BPI Express Online. I've tried BDO on-line facility. If in any case you forgot your password, you need to go to thier branch of account to reset, and sometimes it takes days for you to use their on-line facility....

[business_guy]

Updated (as of April 30, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P648.79 billion (as of December 2006)*
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)
6. RCBC - P224.7 billion (as of March 2007) - down P2.6 billion from P227.3 billion last December 2006
7. PNB - P223.1 billion (as of December 2005)
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P155.49 billion (as of December 2006)
10. Allied Bank - P127.5 billion (as of December 2006)

The Current Top Three Banks (Merged Bank BDO & EPCIB) as of December 2006:

1. METROBANK - Php648.79 billion
2. Banco de Oro-EPCI, Inc.- Php630.78 billion
3. BPI- Php582 billion

*Updated figure based on http://business.inquirer.net/money/breakingnews/view_article.php?article_id=63137

I don't need to put the reference of banks. It eats up the space. Just visit their corresponding website to confirm....

[knightinarmor]

What's the best bank for your savings?

Metrobank BPI? or others?

post your thoughts...

[~shalala~]

recently, i was searching for the best rates for savings accounts in banks, and here's what i found out:

most commercial banks offer 0.675% - 0.8% interest per annum, credited quarterly; required opening deposit range from 5,000 to 25,000 pesos, depending on the savings deposit type (i.e. ATM or passbook, regular or premium, etc.); and balance to earn interest is about the same range as the opening deposit requirement.

thrift banks offer higher interest rates, and lower initial deposits, as well as balance to earn interest.

comparing the bank websites that i was able to browse through, i trimmed down my choices to 2 savings banks: BPI Direct Savings Bank and RCBC Savings Bank (a subsidiary of RCBC).

RCBC Savings Bank offer slightly higher interest rates than BPI Direct, however, I chose BPI Direct over RCBC because of its accessibility, and since I already have a BPI Express Teller account, it would be much easier to transfer funds.

Customer service-wise, I haven't tried RCBC Savings so I have no basis for comparison.

:D
______________________________________________

DISCLAIMER: The post above is based on ~shalala~'s research and opinion only. ~shalala~ strongly advises everyone to consult the banks for correct and updated information. ~shalala~ is not responsible or liable for, directly or indirectly, ANY form of damage whatsoever resulting from the use/misuse of information contained in or implied by the post above. :teehee:

[business_guy]

recently, i was searching for the best rates for savings accounts in banks, and here's what i found out:

most commercial banks offer 0.675% - 0.8% interest per annum, credited quarterly; required opening deposit range from 5,000 to 25,000 pesos, depending on the savings deposit type (i.e. ATM or passbook, regular or premium, etc.); and balance to earn interest is about the same range as the opening deposit requirement.

thrift banks offer higher interest rates, and lower initial deposits, as well as balance to earn interest.

comparing the bank websites that i was able to browse through, i trimmed down my choices to 2 savings banks: BPI Direct Savings Bank and RCBC Savings Bank (a subsidiary of RCBC).

RCBC Savings Bank offer slightly higher interest rates than BPI Direct, however, I chose BPI Direct over RCBC because of its accessibility, and since I already have a BPI Express Teller account, it would be much easier to transfer funds.

Customer service-wise, I haven't tried RCBC Savings so I have no basis for comparison.

:D
______________________________________________

DISCLAIMER: The post above is based on ~shalala~'s research and opinion only. ~shalala~ strongly advises everyone to consult the banks for correct and updated information. ~shalala~ is not responsible or liable for, directly or indirectly, ANY form of damage whatsoever resulting from the use/misuse of information contained in or implied by the post above. :teehee:

Hi. Enroll ka na sa bpi express on line. it's fun, because i have account at bpi and bpi family bank. for those who are not aware, bpi don't accept deposit of bpi family bank, and bpi family bank don't accept bpi deposit, but when i enrolled my account at bpi express online, i can transfer funds from my bpi account to my bpi family bank account. the reason i opened a bpi family bank account is because i'm after to their savings account with life insurance. take note, no other banks offer savings account with life insurance, only accidental insurance. i pay all my bills online. i don't go to branch just to pay bills....

[business_guy]

Two giant banks haven't disclosed their total resources as of March 2007, but they have already disclosed their net income for the the past three months of 2007:
Net Income for the year 2007 (As of March 2007):
1. BPI - P3.2 billion
2. Metrobank - P1.62 billion

[~shalala~]

Hi. Enroll ka na sa bpi express on line. it's fun, because i have account at bpi and bpi family bank. for those who are not aware, bpi don't accept deposit of bpi family bank, and bpi family bank don't accept bpi deposit, but when i enrolled my account at bpi express online, i can transfer funds from my bpi account to my bpi family bank account. the reason i opened a bpi family bank account is because i'm after to their savings account with life insurance. take note, no other banks offer savings account with life insurance, only accidental insurance. i pay all my bills online. i don't go to branch just to pay bills....

hi business_guy. :)

actually, i DO HAVE a bpiexpressonline account. i must agree that it is quite convenient since i can pay the water, phone, and electricity bills online. in addition to this, i can also transfer funds to my stockbroker through the website. prepaid cellphone reloading is also possible. in the next few days, i am planning to enroll my credit cards' e-payment option through the same account. convenient eh?

but why do i need another account? i was thinking of getting one that has a higher interest rate than the express teller account that i presently have. and BPI Direct Savings was my best choice. *okay*

[business_guy]

hi business_guy. :)

actually, i DO HAVE a bpiexpressonline account. i must agree that it is quite convenient since i can pay the water, phone, and electricity bills online. in addition to this, i can also transfer funds to my stockbroker through the website. prepaid cellphone reloading is also possible. in the next few days, i am planning to enroll my credit cards' e-payment option through the same account. convenient eh?

but why do i need another account? i was thinking of getting one that has a higher interest rate than the express teller account that i presently have. and BPI Direct Savings was my best choice. *okay*

Yes, BPI Direct offers higher interest rate in time deposits....

[susmariosep]

The best customers for banks are guys with money.

The best banks for us guys here, at least for myself, are those which will return your money punctually and with big interest earnings.

Don't mind if the bank people are snotty, just you show them you have cash and they will treat you like royalties.

Don't mind if bank people are discourteous, just make sure that they return your money with big interest earnings.

So, if people here know of any daily listings of interest rates from banks, please refer me to the websites providing such lists of banks interest rates on deposits of all kinds.


Please, guys, go to the essentials, which are money.


Susmariosep

[business_guy]

Updated (as of May 7, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P648.79 billion (as of December 2006)*
2. BPI - P582 billion (as of December 2006)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)
6. RCBC - P224.7 billion (as of March 2007) - down P2.6 billion from P227.3 billion last December 2006
7. PNB - P223.1 billion (as of December 2005)
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P163.74 billion (as of March 2007) - up P8.25 billion from P155.49 billion last December 2006
10. Allied Bank - P127.5 billion (as of December 2006)

[business_guy]

The best banks for us guys here, at least for myself, are those which will return your money punctually and with big interest earnings.
Susmariosep

Is there such banks who don't give your personal money punctually???? Katakot naman yun (lol). For interest rates, you have the avenues of inquiring their interest rates by going to their website. Interest rates does change in certain span of time....

[susmariosep]

Thanks business_guy. You are the retired from bank teller?


Please also put in some time and labor to make a list to be updated regularly on the interest rates offered by these big banks on all kinds of deposit accounts.

Thanks.


Susmariosep

[susmariosep]

Thanks business_guy. You are the retired from bank teller?


Please also put in some time and labor to make a list to be updated regularly on the interest rates offered by these big banks on all kinds of deposit accounts.

Thanks.


Susmariosep

[susmariosep]

Thanks business_guy. You are the retired from bank teller?


Please also put in some time and labor to make a list to be updated regularly on the interest rates offered by these big banks on all kinds of deposit accounts.

Thanks.


Susmariosep

[susmariosep]

Thanks business_guy. You are the retired from bank teller?


Please also put in some time and labor to make a list to be updated regularly on the interest rates offered by these big banks on all kinds of deposit accounts.

Thanks.


Susmariosep

[susmariosep]

Messages 137 to 139 are unintended repetitions owing to clicking the submit button several times thinking that it would ensure the transmission of the message -- the uploading at the time then was most slow.

It is now 7:01* pm, 040907 Tuesday. I can't anymore delete the repeated messages at this time. Sorry.

Paging mods:, please delete them, including the present one.


Extremely regretful. Absolutely no intention whatsoever to be offensive to any party here.

Susmariosep

[doc pio]

BDW, I kinda see the point about the many uses of on-line banking and ATM services...but does this leave a paper trail for, let's say the BIR? Or seedy groups? You see, I opened an account in two international banks, then all of a sudden, I got two unsolicited credit cards from the mail(with my name on them), from totally unrelated banks! With maximums of P300K! Are banks allowed to share personal information? How did these other banks know about my financial status?

[TravelBug]

BDW, I kinda see the point about the many uses of on-line banking and ATM services...but does this leave a paper trail for, let's say the BIR? Or seedy groups? You see, I opened an account in two international banks, then all of a sudden, I got two unsolicited credit cards from the mail(with my name on them), from totally unrelated banks! With maximums of P300K! Are banks allowed to share personal information? How did these other banks know about my financial status?

Actually you'll be surprised that even with privacy agreements with your bank, other banks still manage to get your information. I heard a rumor that some banks actually give information to other banks for a fee. Banks will not admit this but this happens.

[susmariosep]

There are all kinds of people inside a bank at anytime.

For example, a food caterer, a janitor, clients, security guards, messenger from main office to the branch bank, or just plain people inside waiting for God knows what transaction to do with the bank.

My wife and I were once waiting for our name to be called, when we finished our business with the bank and left, in the car my wife noticed that her purse was slit through with a long cut on one side; luckily nothing was missing from the purse. We recalled then that there was a person (no bias against women, it was a heavy old looking woman appearing to be like a housewife) seated beside her in a common bench with several other clients closely crowded together.

Recently I was talking with a staffer in my bank and she was reading my account entries on the screen of her computer; when we finished she left the screen on my account listings; I was alarmed and told her to take the screen off my account.

People can learn many useful things from the garbage thrown out in a bank which they can exploit for their less honest purposes.


Otherwise electronic banking is very good for me, it saves me hours of travel and traffic and trouble having to go to places to pay bills, and also frees me from having to bring big cash with me when I am on to a long trip away from home.


I have a question which no bank people have ever answered me satisfactorily, or two questions:

1. When you use the telephone to enter your password or PIN or keyboard in an atm machine, isn't there a record in the digital hardware/software of the whole system which any electronic and computer savvy guy can unearth?

2. When you deposit cash with the atm machine and some days later you don't see an increase of your balance by the corresponding amount of your deposit, and then you inquire, but the bank tells you that your deposit was in counterfeit bills -- how is your predicament settled?


Dear Doc Pio, please don't be angry at me and tell me to see a shrink, I just have a distinctively different personality from yours and most other people. Ditto also for others who find me annoying.

If you find my English strange, it is because I was not born speaking English, but picked it up in schools and also from my readings of English print materials available mostly in local publications.

I try my best to write good English though my command of style and syntax and grammar and vocabulary is not enviable.

Are you annoyed again? Please, don't be so annoyable.


I just enjoy writing out my thoughts, and the innocent pleasure of writing is to see it published even in just a web forum where however you are assured of a reading audience.


Susmariosep

[metropolitan]

Actually you'll be surprised that even with privacy agreements with your bank, other banks still manage to get your information. I heard a rumor that some banks actually give information to other banks for a fee. Banks will not admit this but this happens.

its not a rumor its true. credit cards, banks they sell our details to telemarketers. the next time you get a call from a telemarketer offering you loans, credit cards, magazines or hotel memberships its these companies to blame.

be careful when you write personal details on anything like raffle promos and anything that you have to write your name, telephone number and address.

[business_guy]

Updated (as of May 16, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P648.79 billion (as of December 2006)*
2. BPI - P566.9 billion (as of March 2007)-down P15.1 billion from P582 billion last December 2006
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)
6. RCBC - P224.7 billion (as of March 2007) - down P2.6 billion from P227.3 billion last December 2006
7. PNB - P223.1 billion (as of December 2005)
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P163.74 billion (as of March 2007) - up P8.25 billion from P155.49 billion last December 2006
10. Allied Bank - P127.5 billion (as of December 2006)

[business_guy]

Thanks business_guy. You are the retired from bank teller?


Please also put in some time and labor to make a list to be updated regularly on the interest rates offered by these big banks on all kinds of deposit accounts.

Thanks.


Susmariosep

I'm not a teller :)....

[business_guy]

Net income of the top three banks for the the past three months of 2007:

Net Income for the year 2007 (As of March 2007):

1. BPI - P3.2 billion
2. Banco De Oro-EPCI Bank, Inc. - P1.77 billion*
3. Metrobank - P1.62 billion

*BDO - P838 million; EPCI Bank - P937 million

Source:
http://www.bpi.com.ph
http://business.inquirer.net/money/breakingnews/view_article.php?article_id=66079
http://www.metrobank.com.ph

[Henrik]

Originally Posted by susmariosep

...That said, banks are still not good enough for me, because as I said they use my money to make money for themselves, i.e., the owners; but they don't share with me the money they make using my money,

Now here is a suggestion which I don't think anyone has ever thought up, much less the owners of banks.

First, every year banks report glowingly that they have made billions of pesos, and from whose money? from our money, the depositors, of course.

Second, it is in effect like banks are borrowers and we the depositors are their creditors or lenders, except for this difference: when we borrow money from the bank, aside from the interest they impose on us which is always higher than the measly interest they give us for putting our money in their hands for 'safekeeping', they in this respect the borrowers don't have to put up any collaterals, unlike when we are the ones borrowing money from them, we have to put up collaterals' so that if we don't pay our debts plus the high interests, they confiscate our lands and homes.

I am getting the idea that you have trouble rationalising low deposit rates vis-a-vis rising corporate earnings. Allow me to clarify some points.


On the relationship between bank and depositor
You are right: as a depositor, you are the lender; the bank is the borrower. And the interest paid to you on your deposits should compensate you (1) for the risk of lending to the bank, and (2) for the opportunity cost of lending the funds to the bank.

On what determines your interest rate
Basic rule is that the higher the risk, the higher the return. Similarly, the longer your deposits are tied up to the bank (say, in the case of time deposits where there is some sort of "lock in" period before you can withdraw the funds without penalty), the higher the interest.

Understand that, for deposits, the interest rate will never be high. The risk that your bank will not give you your money when you need it is LOW. And since you can always withdraw your money anytime, why should you be given a higher interest?

One more thing, in case you notice that deposit rates are declining lately, interest rates have been persistently low the past few months. I don't think any bank would go higher than what the market is offering.

On what can increase your interest earned
The problem is not that deposit products have low interest rates BUT that your interest rate expectations are not suited to the products you are getting into. Low deposit rates are to be expected. The risks of parking your money in deposit products are LOW, for one, so there's no need to ask for a higher rate.

I am sure your bank can offer other products with higher interest rates. But for these, you have to be willing to take on additional risks.

For the last two years, NET interest rates ranging from 20% to 40% per annum have been realised by some clients who have gone into products that require them to take on more risks.

You want your bank to deliver higher interests for you? Get into their riskier products.

[business_guy]

Updated (as of May 22, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P663.39 billion (as of March 2007)-up P14.61 billion from P648.79 billion last December 2006
2. BPI - P566.9 billion (as of March 2007)-down P15.1 billion from P582 billion last December 2006
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P305.97 billion (as of December 2006)
6. RCBC - P224.7 billion (as of March 2007) - down P2.6 billion from P227.3 billion last December 2006
7. PNB - P223.1 billion (as of December 2005)
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P163.74 billion (as of March 2007) - up P8.25 billion from P155.49 billion last December 2006
10. Allied Bank - P127.5 billion (as of December 2006)

[business_guy]

Updated (as of May 22, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P663.39 billion (as of March 2007)-up P14.61 billion from P648.79 billion last December 2006
2. BPI - P566.9 billion (as of March 2007)-down P15.1 billion from P582 billion last December 2006
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P324.8 billion (as of December 2006)
5. BDO - P294.69 billion (as of March 2007) - down P9.78 billion from P304.47 billion last December 2006
6. RCBC - P224.7 billion (as of March 2007) - down P2.6 billion from P227.3 billion last December 2006
7. PNB - P223.1 billion (as of December 2005)
8. Unionbank - P184.8 billion (as of December 2006)
9. Chinabank - P163.74 billion (as of March 2007) - up P8.25 billion from P155.49 billion last December 2006
10. Allied Bank - P127.5 billion (as of December 2006)

[business_guy]

see below:

[business_guy]

Updated (as of May 28, 2007)

Country's Largest Bank in Terms of Assets:

1. Metrobank - P663.39 billion (as of March 2007)
2. BPI - P566.9 billion (as of March 2007)
3. Landbank - P360.8 billion (as of December 2006)
4. EPCIB - P349.8 billion (as of March 2007)*
5. BDO - P294.69 billion (as of March 2007)*
6. PNB - P244.8 billion (as of March 2007)
7. DBP - P235.3 billion (as of December 2006)
8. RCBC - P224.7 billion (as of March 2007)
9. Unionbank - P207.6 billion (as of March 2007)
10. Chinabank - P163.74 billion (as of March 2007)

*Take note that the official merging of two banks (BDO & EPCIB) will took place on 3rd quarter of 2007, so they remain to be separated for the mean time (Combined total resources of the two banks as of March 2007 - P644.5 billion - rank no. 2)....

Most Profitable Bank in the Philippines (As of March 2007):

Net Income for the year 2007 (As of March 2007):
1. BPI - P3.2 billion
2. Banco De Oro-EPCIB, Inc. - P1.77 billion*
3. Union Bank - P1.63 billion
4. Metrobank - P1.62 billion

*BDO - P838 million; EPCI Bank - P937 million

Source:
http://www.pse.org.ph
http://www.landbank.com
http://www.devbankphil.com.ph
http://www.bpi.com.ph
http://business.inquirer.net/money/b...ticle_id=66079
http://www.metrobank.com.ph
http://www.unionbankph.com/

[business_guy]

Please forgive me for the multiple posts I've made last night. It was unintentional. Please ignore the Post No.: 151. Thank you....

[business_guy]

Lucio Tan owned PNB (currently ranked 6th with P244.8 billion in assets) and Allied Bank (Ranked 11th with P127.5 billion in assets) is planning to merge. The merging of two banks would create 5th largest bank in the country. Landbank will remain at No. 4....

[business_guy]

I am getting the idea that you have trouble rationalising low deposit rates vis-a-vis rising corporate earnings. Allow me to clarify some points.


On the relationship between bank and depositor
You are right: as a depositor, you are the lender; the bank is the borrower. And the interest paid to you on your deposits should compensate you (1) for the risk of lending to the bank, and (2) for the opportunity cost of lending the funds to the bank.

On what determines your interest rate
Basic rule is that the higher the risk, the higher the return. Similarly, the longer your deposits are tied up to the bank (say, in the case of time deposits where there is some sort of "lock in" period before you can withdraw the funds without penalty), the higher the interest.

Understand that, for deposits, the interest rate will never be high. The risk that your bank will not give you your money when you need it is LOW. And since you can always withdraw your money anytime, why should you be given a higher interest?

One more thing, in case you notice that deposit rates are declining lately, interest rates have been persistently low the past few months. I don't think any bank would go higher than what the market is offering.

On what can increase your interest earned
The problem is not that deposit products have low interest rates BUT that your interest rate expectations are not suited to the products you are getting into. Low deposit rates are to be expected. The risks of parking your money in deposit products are LOW, for one, so there's no need to ask for a higher rate.

I am sure your bank can offer other products with higher interest rates. But for these, you have to be willing to take on additional risks.

For the last two years, NET interest rates ranging from 20% to 40% per annum have been realised by some clients who have gone into products that require them to take on more risks.

You want your bank to deliver higher interests for you? Get into their riskier products.

Very well-said....

[philsdutchie]

I am curious. Where stands Phillipine banking?
Which bank offers:
- online interbank transfer to all other banks (megalink & bancnet)?
- online bills payment of all governmental and private companies ?

[pokemohh]

Is there such banks who don't give your personal money punctually???? Katakot naman yun (lol). For interest rates, you have the avenues of inquiring their interest rates by going to their website. Interest rates does change in certain span of time....

yes merong banks na ganito. ive tried to withdraw around 25k from Unionbank pero sabi ng teller di daw basta basta puede iwithdraw ito at iveverify pa sa head office nila. i have an eon account with them so suggest nya na used the atm na lang where i could withdraw maximum of 20k in a day.

di tulad sa BPI at Metrobank where naka withdraw na ako ng 7digit amount of money ng walang kaproble problema. matagal nga lang kasi usually kinukuha pa sa bolt nila at super bilang using the money counter machine.

[metropolitan]

I am curious. Where stands Phillipine banking?
Which bank offers:
- online interbank transfer to all other banks (megalink & bancnet)?
- online bills payment of all governmental and private companies ?

Bancnets allow interbank transfers via ATM and Bancnet Online for P25.00

No bank currently can process payments for all utilities, insurance, credit cards and government agencies

[grandnagus]

ok din yung citibank savings. you can withdraw from any ATMs local and international without any charges. Max limit per day is around 100k+ ... problem lang is konti palang yung branches nila.

[business_guy]

Bancnets allow interbank transfers via ATM and Bancnet Online for P25.00

No bank currently can process payments for all utilities, insurance, credit cards and government agencies

Your number 1 answer is right.

What you mean no bank currently can process payments for all utilities, insurance, credit cards, and government agencies????

Local banks that offer on-line facility can process your payments of your utilities, insureance, credit cards, and government agencies (i.e. bir payments, pag-ibig - just to name some). Kindly re-phrase what you mean. Thank you....

[metropolitan]

Your number 1 answer is right.

What you mean no bank currently can process payments for all utilities, insurance, credit cards, and government agencies????

Local banks that offer on-line facility can process your payments of your utilities, insureance, credit cards, and government agencies (i.e. bir payments, pag-ibig - just to name some). Kindly re-phrase what you mean. Thank you....

Almost all bank bill payment facilities does not accept payment for some competitor credit cards.

In other places online bill pay allows bill payments to every conceivable utility, credit card, government agency and telco. Its very sad that local banks are anti customer.

[metropolitan]

ok din yung citibank savings. you can withdraw from any ATMs local and international without any charges. Max limit per day is around 100k+ ... problem lang is konti palang yung branches nila.

Citibank Savings as of yesterday has changed their policy on their Power Savings account.

For new depositors, initial deposit is P10,000
To earn interest, ADB should be at least P100,000

[turtz]

Anybody knows if BDO has a special savings deposit account? Mga 6months to 1 year, kung P5 million ang idedeposit?

thanks