LBC Bank is Closed

[tokidoki_v2.0]

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really sad.
daghan pajud kinahanglan i-educate about safe financial practices.

If we plan to deposit money in banks limit it to 500k per bank NOT 500k per account. Kay maski 5 500k accounts na, PDIC will only cover one account under your name.

Try to determine pila jud ang need nimo for short term needs, usually gamay rajud ni for the average person but for businessmen they might need a lot. But Im sure most of them protect it by limiting it to 500k per bank. Dili per branch ha but per bank jud. And if dinagko na, they will put it in really big banks.

I always wanted to ask this question and i'm glad someone answered it. nice take bro.

[Metz]

I always wanted to ask this question and i'm glad someone answered it. nice take bro.

you're welcome bai.

Also PDIC will take a long time before i release ang mga dagko nga amounts so mas maayo pud if wala tanan sa usa ra ka bank.

[tokidoki_v2.0]

mao na the proverbial don't keep your eggs in one basket.

i often wondered bitaw sa una if 500k lang ang limit sa PDIC what if what bank naa ko more than 1 account nalang ko to beat around it? heheh... apparently that doesn't work

[V&J Trading]

thanks God i didn't made a deposit there.

[wache]

tsktsk shit happens..

[CocoCrunch]

Any money that you plan to grow, dont keep it in the bank. Better invest in mutual funds or health savings account. 10% or more per year pa ang average return in the long term.




Ayala, Henry Sy, and Lucio Tan use this strategy.
LBC followed, but the board of directors gibutang nila kay inutil or gi-abuse.




Daghan pajud kaayo kinahanglan i-educate. If we want to save or keep cash for emergency use, use big banks. if investment go for mutual funds or better.

As for rural banks, medyo lisod jud samot na if lampas na 500k imo kwarta dira.

nitagam nami og invest. There was a lending company before in keppel who offered 25% (IMAGINE 25%!!) so our relatives deposited their millions. nag bank run and TY ang tanan. SOCO will only release P2000 until nistop na jud og hatag. Imagine millions to P2000. WTF

Ang banks gamay ra kaayog interest rate nya naa pa jud tax.

im a stockholder of a rural bank. everymonth naay profit and dako kaayo ang annual profit but bisan piso wala jud koy gideposit didto kay mahadlok ko. haha haha

[loucellmar]

Millionaire

[Metz]

nitagam nami og invest. There was a lending company before in keppel who offered 25% (IMAGINE 25%!!) so our relatives deposited their millions. nag bank run and TY ang tanan. SOCO will only release P2000 until nistop na jud og hatag. Imagine millions to P2000. WTF

Ang banks gamay ra kaayog interest rate nya naa pa jud tax.

im a stockholder of a rural bank. everymonth naay profit and dako kaayo ang annual profit but bisan piso wala jud koy gideposit didto kay mahadlok ko. haha haha

I'm sorry to hear that bai but based on the facts you provided, too good to be true ra kaayo ang offer.

25% per annum is way too good.
solid mutual funds average 15% in the long term(15 years or more)
naay years nga mo earn ug 60% or even 100% but we always look at the long term.

lending company/coop/rural bank lends majority of their money. if modagan ang mga nangutang, tabla ang company/coop, tabla ang investor.

mutual funds nga girecommend namo invest on tried and tested companies.
diversified na daan aron just in case mayabo ang usa, naa pa ang uban companies gabarog. it lessens the risk.

[peewee_toot]

maygani wala jud ko ni dayun og deposit dinhi. TY unta to akng money...

[makie]

LBC's line of expertise kay naa sa courier services. Just because they're successful in that field doesn't mean nga successful na sila sa tanan klaseng negosyo nga sudlon nila. Banks would be popping out everywhere because of the profit that they can get. Apparently, not everybody is brilliant enough to stay profitable especially on times like these.