[The Bangko Sentral ng Pilipinas (BSP) has approved the implementation of the electronic clearing of checks, starting January 2017. This will speed up the clearing of checks from 3 to 5 banking days, down to 1 day. Issuers must consider the faster clearing of checks to avoid bouncing checks. To assist in the dissemination of this information, we are reproducing the media release of the BSP.] Continue reading
Exchange your old bank notes with the New Generation Currency (NGC), the Bangko Sentral ng Pilipinas (BSP) has constantly reminded the public [see Design Highlights of the Philippine New Generation Currency, Primer on the New Generation Philippine Currency: Banknotes and Coins, and Security Features of the Philippine New Generation Currency]. Soon, the old paper money — interestingly called the New Design Series or NDS — will have absolutely no value, will not be accepted as payment for all transactions, and CANNOT be exchanged with the New Generation Currency. The date to remember: 1 January 2017. So, check if you’re still holding the old paper money. The central bank reminder: Continue reading
“Can money, family, friends issues in our marriage be filed for annulment? I’ve been married for 2 years but a lot of issues has completely destroyed our marriage and i want to file an annulment. I am currently living abroad.” (We will feature certain comments so we save time when addressing related concerns. No legal advice, only legal information. See discussion below.) Continue reading
The Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC) issued a joint warning (“babala”) against pyramid scams, ponzi scams and related fraudulent schemes. The warning contains tips and pointers on how to identify fraudulent schemes.
Ponzi schemes have been in existence for almost a hundred years. It’s amazing how these fraudulent “investment” schemes are still flourishing to this very day, even with the fast dissemination of information through social media and other modern means of communication. Let’s take a look at the documented Ponzi schemes in the Philippines. Continue reading
As noted in the primer on the New Generation Currency, Philippine banknotes contain design elements that pay tribute to Filipinos who played significant roles at various moments of our nation’s history. World heritage sites and iconic natural wonders of the Philippines are also proudly highlighted. These are the design highlights for each of the banknotes, reproduced from the documents issued by the central Bangko Sentral ng Pilipinas:
To introduce the new set of Philippine currency notes and coins, the Philippine central bank, the Bangko Sentral ng Pilipinas (BSP), released a primer on the New Generation Currency (NGC) Program of the Philippines. We are reproducing the primer in full to disseminate the information and for easy reference of the public.
The ease in getting a credit card these days, as well as the greater ease in swiping it to purchase goods and services in lieu of hard cash, inevitably results to various problems. Here are some important tips or must-do’s when handling or using credit cards [see also Credit Card Dont’s; please feel free to add other credit card DON’Ts through the comment section below].
We have a separate list of important tips or must-do’s when handling or using credit cards. You must know many, if not all, of these reminders. It is better, however, to err on the side of caution, so it might be a good idea to go through these important reminders [read also Credit Card DO’s; please feel free to add other credit card DON’Ts through the comment section below].
There’s an email doing the rounds lately, purportedly from the Electronic Payments Association. The subject is “ACH Transfer canceled” (ACH stands for Automated Clearing House). The email contains the following: