Crazy Rules Philippines

[JJReyes]

3 hours ago, Possum said:

My wife and I have a joint dollar savings account and I transfer dollars from the US bank and Wise with no problems.

The bank will probably remove the restriction once I locate and submit my Taxpayer Identity Number.

[Jack Peterson]

2 minutes ago, JJReyes said:

Philippine banks are exercising caution as the country tries to get out of this international list.

 Hmm and you question your meeting with a bank

 

 

[JJReyes]

9 hours ago, Jack Peterson said:

 Hmm and you question your meeting with a bank

I question the amount of paperwork needed to open a digital bank account.  The IRS application was one page for information followed by 5 pages of information and instructions.  I had to sign each page acknowledging it was read, which I didn't. 

[scott h]

11 minutes ago, JJReyes said:

I question the amount of paperwork

another promise made,,,,another promise NOT kept 

 

[Jack Peterson]

16 hours ago, JJReyes said:

The bank employees (4 of them were involved) informed me I am not permitted to deposit cash into the account nor remit money from the United States.  Only my sister.  Why?

This is the question I meant, Yet you seem to have known  the answer already 

[JJReyes]

1 hour ago, Jack Peterson said:

This is the question I meant, Yet you seem to have known  the answer already 

Rhetorical why, as in, this does not make common sense.

[Jack Peterson]

1 minute ago, JJReyes said:

this does not make common sense.

[Freebie]

So ive had an account with BPI Trade for 20 years. It was inactive for about 15 years but has been used for past 5 years. I reactivated my account on same day as a friend of mine as we both knew a good stock. which has been very good.

Few back they tell me they want to know your customer. I tell them Ive been a trade account holder for 20 years., and BPI  Preferred customer for 25 years....they insist they want/must  to verify me. Along with " if i dont comply we will suspend your account ". Nice people

They get my philippines driving licence and SRRV visa page . No sir we need your passport.

Lots of back and forth about why they need my passport and from me " where will my data be stored "

Sir it will be safe.....etc.

Nope tell me where its stored , wheres the server, inside company or outsourced etc.

Seems I was the first person that ever asked what they do with and how they store my data.

Eventually all resolved, but they have 10 emails that were never answered about "why do you need to verify a 20 year customer "

Oh and my friend, re-opened his account same time as me ... hes never heard from them.  Of course he hasnt.

The land that logic seemed to pass by when it was being distributed. !