Who are not covered by the bank secrecy law.

[Kingcoil]

The title of the thread is "Who are not covered by the bank secrecy law."

That means that if anyone for example: you, me, or any third party, has money that is kept in a bank in the Philippines, no one can demand that the bank should confirm or deny that it has your money in custody at all.

Why would you or I want that bank does not release any information including of course whether you have or don't have money in the bank?

Simple, one reason is because your family members or friends might with knowing you have money in the bank ask you to lend them some money.

To my stock knowledge, originally it was only on an order from a court, that a bank could release information of starting with there being money of yours in the bank, or not.

In the course of time more instances of exclusion from the bank secrecy law had been legislated, what are these instances of exclusion?

[Old55]

Welcome to Philippines Expat Forum Kingcoil. We would be pleased to answer any Expat related living in Philippines questions and we have a host of ccp virus experts on hand as well.

However we don't answer homework questions you have to do your own economics homework. Sorry. 

[Dave Hounddriver]

5 hours ago, Kingcoil said:

no one can demand that the bank should confirm or deny that it has your money in custody at all.

No need to demand.  Employees in Philippine banks are happy to blurt out personal info, spread gossip about accounts for anyone to hear, or tell anyone who asks nicely whatever they want to know.

[Jollygoodfellow]

6 hours ago, Kingcoil said:

To my stock knowledge, originally it was only on an order from a court, that a bank could release information of starting with there being money of yours in the bank, or not.

First you have your country listed as Philippines. If you are a US citizen then FATCA requires any non-U.S. bank to report accounts held by American citizens worth over $50,000 or else be subject to 30% withholding penalties.

[Balisidar]

What is the deal with these "new members" who create a topic in banking then disappear?

[Old55]

5 minutes ago, Balisidar said:

What is the deal with these "new members" who create a topic in banking then disappear?

Spammers, players and morons.

THe forum gets a number of new member posts that are spam but you don't see them. Sometimes their posts are edited to remove links or other obvious spam trash and approved. Some don't return other times they return with more spam and get banned.