Public Info

BDO Reminders : How to Avoid the Monthly Deduction of P300 from your BDO Kabayan Savings Account

August 12, 2017 By proudbrown

Banco De Oro reminds those account holders of BDO Kabayan Savings Account that in order to avoid the monthly deduction of P300 pesos, account holders must continue the BDO Zero maintaining balance featured. To do that account holder must have to remit at least once a year. BDO advice no activity in your account for a year will automatically change it to regular savings account type in which the account owner must maintain P10,000 maintaining balance.

If your account has no activity for one year or no remittance for a year then the balance of your account is below the minimum P10,000 maintaining balance then that’s the time the bank will do the monthly deduction.

Take note that the account cannot be reverted once it was converted to regular savings account as well as the amount deducted.

Secure Your Retirement Invest Through the SSS PESO Fund

August 11, 2017 By proudbrown

Investing or saving your hard-earned money is a smart decision that you can benefit for your retirement. Even saving a little amount will add up into big amount that can be of great help when you’re unable to work anymore.

The SSS PESO Fund or the SSS Personal Equity and Savings Option Fund is an ideal investment vehicle that you can consider.

What is SSS PESO Fund?

Are you a member of SSS? Are you familiar with the SSS PESO Fund? It is a provident fund offered by the agency to all members who have paid regular contributions for 6 consecutive months within a year. The member must be 55 years old and have not filed for any claims prior to the enrollment for SSS PESO Fund.

Qualified enrollees are those self-employed or voluntary members, and OFWs. The applicant must be paying the amount mandated by the regular SSS program.

The good thing about this program is that the contributions are invested in an independent guaranteed instruments and is tax free. The interest rates are higher than other regular financial institutions. Sixty-five percent of the total fund is allotted for the retirement of the member and the thirty-five percent is allotted for general and medical purposes.

The percentage allotted for the retirement will earn an income generated from the 5-year Treasury yields. On the other hand, the 35% allotment will earn income from the 364-day Treasury bill rates. Another advantage of saving in SSS PESO Fund is that the member can also obtain additional earnings based from the actual performance of the fund.

A member can withdraw the savings from the fund upon his or her retirement or in case of disability. It can be withdrawn either in the form of monthly pensions or Php1,000 payments ever month, or combination of the two.

SSS Peso Fund Is a good investment?

Considering the interest rates per annum, if you’ll start at an early age you can earn huge amount during the time that you retire. This is a good option where you can put your money without worrying the risks associated to investment.

If you’re interested to invest in SSS PESO Fund, all you have to do is to visit the nearest SSS office or log in to the SSS official website.

Guide and Safety Tips in Using ATM

August 9, 2017 By proudbrown

Using ATM is a convenient and quick way of withdrawing money. This is essential particularly during financial emergency. As many people were using ATMs, the number of unscrupulous individuals who steal the identity of the owner also increases.

This can be threatening that’s why many individuals were hesitant to use cash machines to withdraw cash. But, this should not be the case provided that you’ll be practicing the safety tips when using ATMs.

Check the machine

Before inserting your card, make it a habit to check the machine. As much as possible, use ATMs located in well-lit areas, inside a building or monitored by CCTV. Check for any suspicious appearance of the machine.

Protect your PIN

While typing your PIN, try anything to cover or shield the keypad especially if there are people close to you. To avoid identity theft, you should not reveal your PIN even to the bank staff. Avoid writing down your PIN, otherwise other people may have the chance to see it. Use PIN that is easy to remember. It is important to protect your PIN to prevent identity thieves to access cash from your account.

Be observant to your surrounding

It is always important to be observant to your surrounding every time you will use ATM. If you notice anyone who looks suspicious, don’t proceed your transaction. Having someone with you such as a friend or anyone you trust while taking cash from ATM will make a fraudster to have second thought of doing something bad.

In case your card is stuck in the machine, never ask help from a stranger. The best thing to do is to report it to the bank, but never leave the card. Again, never divulge your PIN to anyone.

Don’t withdraw cash if you’re drunk

Being drunk impairs your judgement and makes you unable to notice suspicious activities or individual. Likewise, if your drunk you might forget to take off your card from the machine.

Request for receipts

It’s important to request for a receipt after making withdrawals. This way you can check your bank statement. You can use the receipt if ever you encounter losses in your account.

Aside from using ATM, there are also shops and some retailers to withdraw cash with minimal charges. If you think that this option is safer, then avoid using ATM on the street.

Initial Recipients of the Philippine National ID?

August 1, 2017 By proudbrown

The government is doing everything to provide the necessary help that every Filipino particularly the less fortunate deserves to receive.

In 2016, the House Bill No. 5060 or the Philippine Identification System Act was passed and approved by the Congress. The bill aims to provide all Filipinos a national identification card that can be used for all government transactions. The national ID can be used when applying for PNP and NBI clearance, applying for claims and benefits.

While waiting for the approval of the Senate, the Department of Finance proposed to tap the national ID to determine if the individual is entitled for tax exemptions, discounts, and subsidies. Additionally, the DOF proposed that the ID should include biometrics data for easy identification of the individual.

The Department is also looking for the possibility of activating the Europay-mastercard-Visa chip into the card. This way, the ID card will serve as an ATM card that the owner can use when receiving cash subsidies or benefits from the government. This will simplify the identification process and disbursement of benefits both for the recipient and the government.

The target initial recipients of the national ID are the senior citizens, indigent families and the persons with disabilities or PWDs. The proposals may be helpful, but may also affect the release and distribution of the IDs.

As to when the recipients can enjoy the benefits of this national ID is yet to know. But, once the bill is enacted, millions of Filipinos will be provided with the national ID within two years. The Philippine Statistics Authority will be responsible for the issuance of the national ID cards

Easy Ways How to Retrieve and Reset Your SSS Password

July 25, 2017 By proudbrown

“Incorrect SSS Password or Username”, this prompts when logging into an account but unable to access it. This is also true when accessing your SSS account, but typed in wrong password or username.

This can be frustrating, but just a minor issue. In case you have been experiencing few failed login attempts, then it’s about time to consider changing your password or username just to open your SSS account.

Here’s some steps that will help you to recover your SSS online account.

1. Visit the official website of SSS and that is sss.gov.ph

2. In the Employer/Member Login box, click the “Forgot User ID or Password” box. You will be prompt to provide your email address used when you create your account. Then, click “Submit? Box. Again, you’ll be prompt to check your email for the password sent.

3. Go to your email and check the sent email containing the User ID and the retrieved password. This time, try to login to your SSS account.

4. On the reset password page, type in your “current password” on the specific box and the “new password” as well. Then, click the change button.

To prevent other people to access your account, make sure not to share your password or user ID. Keep in mind that SSS is not liable for any fraudulent activities that may allow other people to access your account.

On the other hand, if you want to change your User ID and Password, you can send an email to [email protected]. This may happen in case you are blocked to access your account due to incorrect password entry for 5 consecutive attempts.