James Ryan Jonas

New check clearing process in Philippine banks

A few weeks ago, I issued a post-dated check (PDC) but forgot to fund it prior to deposit date. My bank, the Bank of the Philippine Islands (BPI), called me up to follow up. I then immediately made the fund transfer and the check was honored on the same day without me paying any fees.

Unfortunately, starting this year, this is not anymore possible. The Bangko Sentral ng Pilipinas (BSP) recently issued Circular No. 681 or the “Revised Check Clearing and Settlement Processes.” Taking effect on January 1, 2011, the circular basically requires check issuers to fund the check prior to issuance.

(Pictures) Flood hits Australia

We take time to share with you images of a calamity in another part of the world that is eerily familiar to most Filipinos. The land down under, Australia, is currently experiencing one of the worst floods in recent history.

PSE stock performance in 2010

Philippine stocks rallied again in 2010, with the Philippine Stock Exchange index (PSEi) closing at 4,201.14 during the last trading day on December 30, 2010 — up 37.6% from the closing index in 2009.

This means that a P100,000 stock investment at the start of 2010 is already worth P137,600 by the end of the year.

Power Balance, Scalar Energy, Quantum Pendants — SCAM?

You have probably witnessed a demo of how a seemingly innocent bracelet or pendant have made someone stronger. Perhaps you yourself have participated in that Endurance and Flexibility Body Test.

Astonished by what you saw, you wonder: do these Power Balance wrist bands, EFX bracelets, and Scalar Quantum Energy Pendants really produce that effect?

We found several reasons below to convince us that they DO NOT. Read on.

New Peso bills look like play money

Two weeks after posting how the new Peso bills look like, I i finally got hold of the new P20 peso bill. Just like my initial impression before, the actual bill looks a lot like play money to me.

Don’t get me wrong. The new Peso bills do appear more modern in terms of design and perhaps with the new security features, they’re probably better compared to the old ones. But after being exposed to the old bills for a couple of decades or so, it would certainly take a few years before I’d get used to the new Peso bills.

Prices of Apple iPad in the Philippines

I’ve said it before: I want a touchscreen tablet PC for Christmas.

A few weeks ago, I was this close to buying an Apple iPad after comparing the three most popular touchscreen tablet PCs: the Apple iPad, the Samsung Galaxy Tab, and the Toshiba Folio 100.

The Toshiba Folio is not in the Philippines yet so it’s out of the picture. I’ve seen the Samsung Galaxy Tab and, although it looks uber-cool and super-sleek, I don’t like it’s small display screen.

(Photos) New Philippine Peso bills

The Bangko Sentral ng Pilipinas (BSP) unveiled yesterday the newest series of the Philippine Peso bills. The banknotes, which will be in public circulation soon, sport a more modern design with visual elements and security features that are not in the current peso bills.

Here are the new look of the latest banknote series of the Philippine Peso.

OFW loans in the Philippines

President Noynoy Aquino recently announced that he is instructing the Overseas Workers Welfare Administration (OWWA) to set aside P1 billion (US$23.5 million) as “reintegration fund” from which returning Overseas Filipino Workers (OFWs) can borrow money.

The goal is definitely noble but it is our hope that the loans program be managed efficiently so that it won’t be a losing venture for the government. Some OFWs do need financial support upon their return and providing access to business capital is a big help towards convincing them to stay permanently.

James Ryan Jonas

Pinoy Money Talk