An article entitled “HSBC Bank on Verge of Collapse: Second Major Banking Crash Imminent” is currently making its rounds on social media, causing several people to panic and leading some users to ask whether they should start withdrawing their money from HSBC.
Nine more rural banks in the Philippines were closed by the Bangko Sentral ng Pilipinas (BSP) before the year 2009 ended.
As per the announcement of the BSP’s Monetary Board, the following rural banks were prohibited from doing business in the Philippines and its assets and affairs placed under receivership pursuant to Section 30 of R.A. No. 7653.
The Philippine Deposit Insurance Corporation (PDIC) is now processing the claims of depositors of the following Legacy rural banks with deposit balance of P100,000 and below.
Please refer to the following for a guide on how to get your money back.