BLOGGED PHILIPPINES

If you still posses any of the 1985-design bank notes, make sure to dispose it at least before December 31, 2015 . After that date, the old currencies will not be valid for daily transactions. From 2015 to the end of 2016, it can be exchanged with new currencies through Banko Sentral ng Pilipinas (BSP) or through authorised financial institutions such as universal and commercial banks, thrift banks, and rural as well as cooperative banks.  After December 31, 2016 , the old currencies will be demonetised completely. Shown below are the old bank notes. Old Philippine bank notes cannot be used for daily transactions after December 31, 2015 and will lose its value after December 31, 2016.

A few updates Day of Valor on April 9, 2014 This Wednesday, April 9 is a national holiday in the Philippines in celebration of the Day of Valor. This is in commemoration of the fall of the military base in Corregidor Island, Bataan in April 9, 1942 (World War 2). For more information about the event, please check this link. [ Background: Day of Valor ] Since this is a regular holiday, employers should follow the pay rules set by the Department of Labor and Employment (DOLE) for employees who will be required to render work on that day. New 10-Peso Coin Finally Reached Me The new 10 Peso coin that was released by Bangko Sentral ng Pilipinas (BSP) finally reached my coin purse. I'm not sure how it got there but I think it was cool. As previously reported as early as December last year, this new coin was minted in celebration of Andres Bonifacio's 150th birth anniversary last November 30, 2013.  The coin features the same 26.5 mm diameter bimetallic style l...

If you can't access your BPI online account today, well you're not alone. I tried too today without success after many attempts. If you are wondering about the reason behind this, then, here's the reason: BPI Maintenance Mode. If you waited until your login request expired, this message will be displayed to you (see image below): How Long? The honest answer is: I don't know. Yesterday, all BPI branches were OFF. All banking transactions were halted starting around 9AM. I was able to do my banking activity around 5PM already. When I asked the clerk how long does it usually take to restore their system, she just simply said, she don't know because it varies from case to case. Yesterday's incident may or may not be related to today's offline mode but it is safe to assume that it won't be restored as quickly as we think it is. Phone Banking If you really have urgent banking needs today, you are advised to call BPI Customer  service nu...

Image via Wikipedia Have you tried to transfer funds between two different banks in the Philippines? Well, most people do especially overseas Filipino workers (OFWs) on their remittances . How much does it cost you? In my case, when I transferred 600 pesos from my Union Bank (UBP) account to my BPI account through online banking, it took me three days before knowing that only 450 pesos reached my BPI account. My reaction was a feeling of slight stupidity. I just lost 25% of my deposited amount! From that moment on, I promised myself not to do that again (charge to experience). I will take the effort to personally do the transfer. Good News on 2010 But now, I think I have to break my promise in the coming year! Why? Because next year, Banko Sentral ng Pilipinas (BSP) in agreement with the Association of Bank Remittance Officers Inc. (ABROI) will lower the interbank transfer charges from the current rate of 100-550 pesos down to only 50 pesos.