Chaplain Posted March 10 Posted March 10 I had an unfortunate banking experience February 2023 with the Commerce Bank here in the Philippines and feel people should be warned. I opened 3 accounts a few years ago when my permanent residence was cleared; a joint account with my wife, a USD account for business, and a regular account for myself, and I deposited the required balance of 10,000 PHP into each account ($200.00 USD for the USD account). I used the USD account regularly, and after about a year or more when my business MO and dealings changed, I no longer needed the USD account. I closed the account, however kept the other 2 accounts. Although we did not use those 2 accounts much (due to using other banks), we always maintained more than the minimum balance of the 10,000 PHP per account to avoid any issues. Without warning or notice, both accounts were closed and the monies taken. No paper work or explanation was given, and we did not find out for a few months. I reported the issue to the The Bangko Sentral ng Pilipinas (BSP), which passed it into a system of never ending circles with dead ends. When I asked for assistance, I was told I was incompetent for not going through their 'Facebook and social media processes. I requested further assistance without success. I explained I am an old man, recovering from a stroke, and was sorry I had no idea how Facebook and the social media works; and I just wanted some assistance, or even a simple explanation. They doubled down on my incompetency, so, as a guest in this country, I decided to let it go. 1 4 Link to comment Share on other sites More sharing options...
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