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Emergency Do you have any pesos

Discussion in 'Banking - Investing - Finances' started by grandpainak, Aug 16, 2020.

  1. Happy Camper

    Happy Camper DI Senior Member Restricted Account Infamous Showcase Reviewer

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    My late Grandmother once told me that there are two kinds of people. Intelligent, educated book types, and smart people who have learned through life. She always said take the smart ones.

    A person once asked me who I would rather have work for me, someone who is an idiot or someone who is stupid. I said an idiot can be trained and is usually willing to learn, while stupid is just that.
  2. JWBobbit

    JWBobbit DI Member

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    Suggestion to minimise bank risk. If you have a TIN you can open a COL account for trading and split cash between bank and trading account.You dont need to trade just keep it as cash. Unlikely if there was an issue with the banks trading accounts would be targeted.

    You can access your money in a day if you withdraw before 10am (BDO, BPI available that evening), no fees, no charges, no interest. Also easy to fund from online banking with BDO BPI. Can also be withdrawn by cheque should the banks go bad, I have no experience using this method.

    You will get nominal trading fees if you buy stock and charged 5% withholding tax on profits only.

    Trading here is interesting, just need to keep an eye out for everything Duterte says as his statements move markets, caught out big time on MPI last year after he said he would tear up contracts for electric supply.