When the Bank of the Philippine Islands (BPI) became the very first local bank to launch a smartphone mobile app, I was elated because finally our banks are catching up with technology. With the growing number of smartphone users and increasing adoption of online banking among Filipinos, I knew banking via mobile app is the next way to go.
Philippines suffering from shortage of coins
How many times have you been irked by cashiers saying they don’t have barya and “Para masuklian kita nang buo, Sir, penge na lang ng singkwenta sentimos”?
That scene is almost always annoying but, apparently, this only confirms that the Philippines is currently suffering from a shortage of coins.
Different Cash and Credit Card prices not allowed
Be informed: it is unlawful to charge or be charged two prices — a Cash Price and a Credit Card Price — for the same product.
Department of Trade and Industry (DTI) Undersecretary Zenaida Maglaya, in an interview with ABS-CBN’s Mornings@ANC, issued a reminder to establishments that the law forbids the imposition of additional charges on items purchased through credit cards.
Based on Article 81 of Republic Act 7394 (“Consumer Act of the Philippines”), goods and services must not be sold at a higher price that what is stated and without discrimination to all buyers.
PBCom bank branch flooded, clients lost valuables?
A PMT Forum member posted that a branch of the Philippine Bank of Communications (PBCom) in Binondo, Manila got flooded due to typhoon Ondoy.
As a result, many of the valuables entrusted by clients in PBCom’s safety deposit boxes (SDB) were allegedly submerged and damaged. The bank is supposedly waiving any liability, claiming that this was caused by “an act of God.”