What do we know about Philippine banks?

[Erebus]

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I don’t really earn that much, and what little I earn actually goes to paying bills for food and utility bills.

Today was a rather different day though. I checked my current balance and it indicated 2,500. (Yes, that is all I have with me.) Then I decided to withdraw 2,000, so I could pay the bills at VECO, only to find out that the machine wouldn’t dispense any cash. I thought it was odd, so I checked my balance and wow, only 500 left instead of 2,500.

Of course, I filed a complaint with my bank (RCBC), and they said that this would be ‘fixed’ after two weeks or a month.

You see, middle-class/lower-class people like me earn so little, and the little money that we earn is actually taken away from us? I decided to ask some of my friends who work at different banks and they say that this occasionally happens, because the bank uses your money for a week or a month, and invest it somewhere else. This is what they call a ‘delaying tactic’, magpa offline-offline o system failure kunohay just so they can use your money.

I was shocked because all of this is new to me, so I want to know the truth… is it true? Do banks like RCBC deliberately withhold the little money that we earn, for their own racket?

[cardo]

Not only RCBC, most banks do have their own "modus" just be vigilant with your hard earned money. One time, I filed a case but that's another long story.

[bim27142]

Of course, I filed a complaint with my bank (RCBC), and they said that this would be ‘fixed’ after two weeks or a month.

kung RCBC gihapon ka nag withdraw ng ATM and not from other banks, it should not take more than a week... they just have to verify something on the back-end... ATM is a machine with lots of mechanical parts and possible software glitches... so sometimes, yes sometimes, it does fail to dispense cash...

I decided to ask some of my friends who work at different banks and they say that this occasionally happens, because the bank uses your money for a week or a month, and invest it somewhere else. This is what they call a ‘delaying tactic’, magpa offline-offline o system failure kunohay just so they can use your money.

while it is true that they invest the money somewhere else, but i don't see your case as a delaying tactic or in this case, they use your 2500 somewhere else... this is a bank for cryin our loud, they have millions and probably billions of cash on hand, mere 2500 should not be significant to "invest" it somewhere... i'm not saying gamay ra kaayo imo kwarta ha, but my point is, gamay ra kaayo ng 2500 for the bank to invest it somewhere... so please, no offense here, hehehe...

as for the offline2x and system failure, i don't think delaying tactic na nila... again as i've said, ATM is a machine with lots of mechanical parts and possible software glitches... there will always be glitches as the IT Infrastructure system no matter how perfect it was designed, it can never provide 100% uptime... that's reality...

and besides, mahurot ang kwarta sa ATM, so they have to replenish it... if they don't, offline gyud na... kana nga part, para nako negligence nana sa banko, kana i admit maka sapot nana...

[Sarevok]

Error ra na sa ATM imong naexperience. The bank has enough supply para makadispense sa imo ug 2000.

Ang style aning banks, ila i-invest ang kwarta na gipangdeposit sa mga tao. Through this they can earn money. The more people nga mudeposit sa bank, the more ila capital for investments and thus the more they earn. Ang kuyaw ani na style kay if magdungan withdraw tanan tao sa ila gideposit. Dili enough ang ilang available money if mao ni na case kay ang uban nakainvest pa somewhere. Mao na usually ang cause na mabankrupt ang mga bank. And that is the main problem with startup banks.

[necrotic freak]

Na uli na imong 2,500 pesos TS?

Every now and then mahitabo jud ng error sa ATM machine.. Mo error man gani nang Automatic tubig machine usahay, way muagas nya gilamoy na akong piso!

[supernotsona]

no offense ts
isn't that what banks do?
they keep our money and invest it somewhere (stocks,bonds,lend for interest)
surely its just a glitch
i deposited money at a bpi atm some weeks ago. to my surprise, it wasn't credited to my account.
anyhow, I filed a complaint and got my money back after a few days. I can understand though, no system is perfect.

[salbahis]

i dont think its the banks fault if the atm machine decide not to dispense... after its just machine... prone to breakage... now if you account from the bank nakuhaan without your prior knowledge or approval that is called stealing...

i have same incident 10k wala ni dispense pero gikuhaan ko.. (happen to me couple times mostly 10k ang gi widthraw nako) diha sa CBS sa it park... i got it after 1 week... never complaint about it coz is just normal, siguro for first time atm user... if they havent return it in 1 week as they promised aw kana lahi nasad na nga istorya...

[jntio]

error lang na sa machine ts

[rics zalved]

naay mga ingon ani nga case jud mao itawag na dayon sa bangko

[jude86]

no offense but dili na delaying tactic mahitabo jud na sa atm kay ang process ana from atm mo agi to bancnet/megalink then sa bank if mo putol ang network mao na mo debit without dispense, or dependi if mo agi pa sa bancnet/megalink bisan pa diretso na sa system sa bank naa possibility nga ni minus na sa imo account then pag hatag ug acknowledgement sa server sa bank pa balik sa atm ni putol ang connection. Naga-monitor pud na ang BSP sa mga banks. Kay if sigi lang sila dawat deposits niya maghatag sila interest sa depositors alkansi ang banko walay income.