Philippine Poll: Do you still trust your local banks?Export Bank just recently closed. I saw this story on 24 oras and saw a woman crying cause she has millions of pesos in that bank and now since it closed, only P500,000 will be given to her and on June!! Sa June pa!! That's according to PDIC. I'm a Fil-Am living in the US but recently became a dual... | |
I bank with BDO. It's one of the big 3 here so I trust them well enough to use them for managing my monthly retirement. If you have "big money" I'd keep it safe in a stateside bank.
Common sence says that if the PDIC only insures P500,000 that's the most I would keep in one bank.
You should be worried!
City Bank and HSBC are international banks with branches in Philippines use them but be sure open the account in the States.
Filipino banks have no real rules the come and go as they will and so will your money.
the only banks we can trust are the ones owned by chinese. the other banks owned by filipinos are always in chaos
