Tag page - deposits

How would you feel if the government were to borrow some of your hard-earned savings from the banks? Well, generally, banks do not take your feelings into consideration. In reality, they are allowed to utilize the savings of their depositors, which are sitting idle in their vaults, and invest them....

Uncertainties caused by COVID-19 have driven more Filipinos to save extra, but they do it without careful planning, a survey commissioned by Hong Kong-based AIA Group Limited revealed on Tuesday, July 20. Based on AIA’s Save Smarter Study 2021, the survey showed that fear and insecurity arising...

The Securities and Exchange Commission (SEC) is supporting moves to amend Republic Act No. 1405, or the Secrecy of Bank Deposits Law, to reinforce the country’s fight against money laundering, terrorist financing, tax evasion and other financial crimes. The amendments put forward under House Bill...

The Bangko Sentral ng Pilipinas (BSP) is increasing the fees it charge on banks’ deposits and reinstating fees for withdrawals of cash transactions as part of its Clean Note and Coin Policy (CNCP) and to improve the circulation of fit banknotes.  Based on Circular No. 1106, the BSP is...