Banking in Cebu Philippines
Casual Philippines
Banks Closed for Two Weeks
People often talk about how the Philippines are laid back. The banks in the Philippines closed on the 24th and have not re-opened and will not re-open until the 5th of January 2009. That should give the uninitiated some insight into just how laid back the Philippines are. Now I doubt that all banks have been closed every minute. I don’t see how the banking system could just shut down completely for an entire country. Remithome, a firm that many use to send money to the Philippines stated on their website that banks will be closed on most days. That seems to imply some lead-way on the matter.
Rural Banks in Cebu Close
PDIC Does Not Know When People Will Get Their Money
The Philippine Depositor Insurance Corporation (PDIC) is assuring clients of the banks that declared a bank holiday on Monday and shut down by the PDIC soon afterwards say people will get their money back. Exactly when that will happen, they don’t know.
That has to be a real hardship for some people, especially at Christmas time. The PDIC explained they to examine the records of the bank before making payouts. The Pilipino Rural Bank Incorporated was taken over on December 12th and the Philippine Countryside Rural Bank was also taken
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