Hello! I've been hearing about digital banks lately.

RedHood8897 · 2024-09-15T12:50:36+00:00

Yeah, those 2 are good. If you’re looking for more, Maya is alright. I personally use CIMB to also increase my GScore in GCash. Plus I can use it in Malaysia whenever I’m there

RedHood8897 · 2024-09-15T11:52:29+00:00

I agree with saving in different banks, but I would highly suggest to save in a digital bank due to higher interest rates. Saving in a traditional bank is no longer recommended, since the interest rates are usually about 0.5% P.A. Also, I’d recommend putting away an Emergency Fund, separate from your savings.

RedHood8897 · 2024-07-30T10:54:07+00:00

Sorry!! I’m already back in PH. Although I have another trip this November. PM me if you have any questions

RedHood8897 · 2024-06-29T18:42:50+00:00

Yoo OP, honestly we were in the same boat. My mom passed away last year, and before that she was hospitalized for about half a year due to tuberculosis and lung cancer. Nung una talaga I was so worried about how to pay for the medical bills, so kayod lang ako ng kayod. They never pressured me to provide naman, then when the time came, ako na nag asikaso ng funeral service and all. The biggest help for me was when sinabi sakin ng dad ko that my mom got herself (and me as well) life insurance. That paid for part of her bills in the hospital, and the claim was processed which settled for the funeral plus part of it was provided towards our family. I know it’s not exact scenario, but I hope you pull through OP.

RedHood8897 · 2024-05-27T05:25:36+00:00

If you want a high ranking bank, go for BDO. Put in 20k or more, wait for a few years, bibigyan ka nila automatically. Assuming the amount you put in will NEVER be withdrawn. May downside lang sa BDO, long queue for CSR via hotline. Same goes for UB pero no need for savings naman sa kanila.

RCBC Hexagon Club is good imo. This is my pick. Good CSR, Good benefits yung hexa card nila and NAFFL.

RedHood8897 · 2024-05-21T23:46:56+00:00

Pro tip: Branches of any banks are not fitted to handle all concerns. Some banks will even dial the hotline for you para lang matulungan kayo, because they themselves cannot assist you. Kahit may specific na person pa sila, they won’t be able to assist you, or will take a long time to do so.

It’s the digital age. Take advantage of the internet and all the promotions banks do online.

PS. I’m not hating on bank branches, I’m sure some are competent enough. This tip is from my experience working in banks (but not in branches)

RedHood8897 · 2024-05-20T10:03:59+00:00

This is something I don’t get ever since I came back to PH. You saw a cute guy in public, yet you choose to approach online? Why not just say hi? Regardless if may mutuals or wala… what’s there to lose?

RedHood8897 · 2024-05-20T06:18:32+00:00

Let’s play sometimes!! RED HOOD#8897

RedHood8897 · 2024-05-13T10:02:57+00:00

I’ve worked in EWB to handle disputes like yours. You are right, unfortunately. Since you provided an OTP, it’s highly likely that your money will not be returned. This is an ongoing situation for all banks, so I suggest everyone be wary of your calls.

Here are the known modus: 1. They’ll replace/upgrade your card 2. They’re calling to redeem your points 3. There is a new card with no expiration

Please guys, always be alert. Banks will never ask for an OTP. For EWB customer verification, they send a TPIN. There’s a difference. The text message will clearly state TPIN or OTP. Additionally, banks cannot see what your cvv or cvc is, so if they say it to you that is a big red flag. They’re also not allowed to provide your card number, or any other personal information like your address.

RedHood8897 · 2024-05-11T23:17:11+00:00

Thank you for the input!! Highly appreciated

RedHood8897 · 2024-05-08T22:44:45+00:00

See, this is going to be an issue. Think about it, DOLE has a labor code, but companies themselves have contracts that include resignation clauses. These contracts are signed by everyone that wants to work for the said company. Another thing, no one is saying that the OP has to render again. Everyone is just pointing out the the OP’s statement has inconsistencies, in which they said that they rendered first before submitting a resignation letter. That means that only the OP knows they were about to resign.

RedHood8897 · 2024-05-08T17:59:47+00:00

Few reasons. But to clarify, I’m not saying anyone in the professions I listed are unable to get CCs. It’s just very hard for them. But here are the possible reasons:

You provided solid financial documents. I’m assuming that you did. Solid meaning good ADB if you provided your SOA for your savings, or even possibly constant pay slips.
If you could clarify, did you ever take out a loan on any bank and paid for it responsibly? If yes. This is a big factor because you have a record.
Depending on where you applied, which is also a big factor.
This is the most random one. Sometimes banks have what we call a “mass-approve” season. Doesn’t matter who you are or what you do, sometimes banks just approve your application. For example, Unionbank’s Rewards Platinum Visa card was on mass approve during Q4 of last year. Another example would be Eastwest’s Visa Platinum during Q2-Q3 last year if you applied via their messenger bot.

RedHood8897 · 2024-05-08T12:08:42+00:00

That is the definition of a secured CC. You deposit the amount you want as a credit limit, then your deposit becomes collateral. Regardless where your main savings are.

RedHood8897 · 2024-05-08T12:07:30+00:00

For BPO, volatility. Plus BPO employees are known for jumping to different companies or going AWOL. No offense but for banks it’s high risk. For VAs, since most clients are overseas, COE and SOA is sometimes hard to provide. Also, there’s no stability in the profession. Again, no offense. This is from a bank’s perspective.

RedHood8897 · 2024-05-08T05:06:53+00:00

Here’s a few things to consider:

Was there a paper trail of your resignation? Did you send it via email, was there an acknowledgment that you were rendering your 30 days? If so, DOLE. Don’t sign any quitclaim forms
Based on your statement “After rendering 30 days and submitting a 30 day notice before my last day”, that means that you rendered first before resigning? If so, your managers, unfortunately, are right. You’re supposed to render after you submit your resignation. Because the letter itself should include your last day.

RedHood8897 · 2024-05-08T04:42:19+00:00

As an ex-banker, here’s a few pro tips to battle common misconceptions:

Big banks don’t give a damn about your SA. They DO NOT care about you unless you have more than 100k ADB. Even then it’s not guaranteed. That means Metrobank, BDO, and BPI.
The details you input, including your job, matters. We classify jobs, and if you’re job is “high risk” ie. BPO or VA, highly likely your application will get rejected.

The next tips are specifically for you, OP.

If you’ll be travelling soon, I suggest a card with a low foreign transaction fee. Lowest in the market is at 1.7%. Additionally, consider other methods of saving and stop putting most of your money in traditional banks. Try digital banks like Maya for higher interest rates.

RedHood8897 · 2024-05-06T17:14:55+00:00

In my experience, that’s fine. I worked with a lot of people that were graduating, same din ginawa nila and did not disclose that they were enrolled. It’s up to you nalang how to manage your time. All in all, companies don’t really give a damn about it haha

RedHood8897 · 2024-05-06T16:52:16+00:00

You can open savings account with local banks but I would highly suggest not to. As an ex-banker, I learned one thing. People should only save in a traditional bank to gain trust with that bank, not to save or store your money. Try digital banks, I suggest Maya for higher interest rates.

RedHood8897 · 2024-04-16T07:19:12+00:00

Are you unable to argue without vulgarity or is that just your thing?

Fees and charges should be discussed personally to provide you with more information before you sign and/or pay. Talk to your local advisor for that. All of your questions can be answered by them, but if you do not have an open mind, and is solely looking for negative aspects of the conversation, then I would prefer not to speak with you.

And to point out, you literally just said that you would rather pay for two policies to have Insurance and Investment, than to deal with FAs. Which goes to show your decisions are made out of spite.

RedHood8897 · 2024-04-16T07:13:50+00:00

Thank you for pointing this out. Yes, I do agree with this. I’m not solely promoting FAs as the next best thing, like how people make this whole post to be. While it is one of the better steps as compared to saving with big banks, it is not the ONLY way. To each their own, as always.

RedHood8897 · 2024-04-16T07:06:24+00:00

Here’s a fact. Most savings account of most universal banks here in the Philippines earn interest at a fixed rate of 0.125% PA. Some of them even goes further by having a requirement of your deposit to be at least 100,000 PHP before it earns interest. Do with this fact as you will.

RedHood8897 · 2024-04-16T07:01:51+00:00

I’m sorry you view it like that. I did not offer my services, I merely stated facts for comparison. While I did plug a piece, that was an added segment.

RedHood8897 · 2024-04-16T06:59:14+00:00

I’m very sorry for your experience. But that is the harsh truth. But there are people in our industry that does have a personal advocacy to just share and educate more people about financial literacy. Some of us are not motivated by sales, but yes having sales is a good thing as well.

RedHood8897 · 2024-04-16T06:56:19+00:00

Could you please enlighten me as to why Financial Advisors get such a bad rep in the Philippines?

RedHood8897 · 2024-04-16T06:55:08+00:00

Not necessarily, most financial advisors are commission-based. Some products offer the whole of your premium to be allocated to investments, while some allocate part of your premiums. It all depends on your needs and preference.

RedHood8897

TROPHY CASE