6/22/2016

Ecology Bank -- Where Is It Now?

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Ecology Bank is now what Bank? It was not closed. Was it renamed? In the the year 2001, Ecology Bank's office was in Libis, where is it now? It's important.

Ecology Savings Bank was acquired by EastWest Bank  (East West Banking Corp.)  in August 6, 2003, based on a BSP Circular Letter signed August 14, 2003.

The bank was sold by EBC Strategic Holdings Corp. (of Equitable PCIBank).
Thirty (30) branches of Ecology Bank were added to the branch network of EastWest Bank after the acquisition.

Philippine Banks Closed Down in 2001
Closed Banks in 2002
Closed Banks in 2003
Links to Lists of Closed Banks from 2000 to 2016

6/09/2016

How Much Can I Borrow from Pag-ibig Multi-Purpose Loan Program?

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Pag-ibig Multipurpose Loan Amount or Pag-ibig Salary Loan Amount


Your Pag-ibig Loan Amount depends on your total savings with Pag-ibig.

Your total savings with Pag-ibig is the total of all your monthly contributions and all annual dividends added by Pag-ibig. Your total savings is called  Total Accumulates Values or TAV

If you have paid 24 to 59 contributions, you can borrow up to 60% of your TAV.

If you have paid 60 to 119 contributions, you can borrow up to 70% of your TAV.

If you have paid 120 contributions or more, you can borrow up to 80% of your TAV.

Important:
You should be a currently-paying member.
You should have paid contributions for at least 5 of the 6 months immediately prior to your loan application.

For individual Payors:
You need to attach a document  to prove you have a source of income, like commission receipts, remittance receipts, certificate of source of income by your barangay, etc.

What is the Swift Code of One Network Bank?

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The Swift Code of One Network Bank is ONNRPHM1

One Network Bank is the largest rural bank in the Philippines, with 98 branches and 135 ATMs as of early 2015, and still growing, Its acquisition by BDO Unibank was completed in July 2015.

If you're abroad and you want to remit or deposit to a One Network Bank account, look for a PNB branch, or PNB Remittance center, or a PNB remittance partner.

If you want your beneficiary to claim your remittance over-the-counter (Cash Pickup) at any One Network Bank branch, use the following remittance companies:

BDO Remit
PNB Remittance
RCBC Telemoney
Asia United Bank Gintong Hatid
BPInoy Remittance
MoneyGram Money Transfer
Globe GCash
XpressMoney
IRemit
ABS-CBN TFC MyRemit
DBP EC Remit
XOOM
UniTeller BANORTE

PNB Branches in the US
PNB Remittance Partners in California
PNB Branches Abroad
PNB Remittance Centers in Canada 
PNB Remittance Offices in Saudi Arabia 
PNB Branches in London England, Paris France 

6/07/2016

What Happens to My Payroll ATM Account After I Resign?

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Can I Use My Payroll ATM Account After I Resign?


Different banks have different policies for payroll ATM accounts.

When banks detect that a certain payroll ATM account has not been used for many months, they do any of these, based on experiences shared online:
 --  They immediately close the account.
 --  They convert the account to a regular account, which requires a maintaining balance, and when the balance turns to zero or negative, the account is automatically closed.
 --  The account remains active for a time, waiting for the account owner to inquire about the account and convert it to a regular account.

How Is a Payroll ATM Account Different from a Regular ATM Account?


--  Most DO NOT require a maintaining balance, as its maintenance is taken care of by the company's corporate account.
--  Some payroll ATM accounts do not accept over-the-counter cash deposits
 -- Most do not accept over-the-counter CHECK deposits
 -- Some do not accept foreign remittances
 -- If your payroll ATM account was opened in your behalf by your employer, and therefore its maintenance is taken care of by the company's own corporate account, this ATM account is basically not yours. It can be closed anytime when you leave the company.


What's the Best Way to Handle a Payroll ATM Account Upon Resignation or Separation?


You have two options:

-- If you do not have at least 2 valid IDs to open your own bank account, visit your branch of account and ask about converting your payroll ATM account into YOUR OWN regular account.

-- If you have at least 2 valid IDs, withdraw all what's in your payroll ATM account, then open YOUR OWN bank account. 

Note: If you have 99 pesos or less left in your ATM, and you can't withdraw it, and you like to get it, use it asap at a supermarket, grocery or drugstore that has a swipe device. There are items worth 99 pesos or less.