It is true that only relatively few Filipinos have banking
accounts of one kind or another. But what a big pity if even these few would be
loss banking patrons. Distrust in the banking system is a big lost to the
financial stability of this already financially limping Country. This is
neither a truly technical knowledge nor a really profound conclusion. It is
enough to recall the cry of anger and despair on the part of people who lost
their hard earned money to long past and more recent bank-runs.
All the above said observations are worth serious
consideration on the part of the general public – notwithstanding the poorly
scripted story of the ruling administration showing off its self-serving
generosity in terms of extending a whopping 1 billion US$ loan to the IMF.
Needless to say, that is a lot of money coming from public funds in terms of
direct and indirect taxes paid by the Filipinos from birth to death. The simple
yet incisive one-word questions frequently asked and heard from the general
public about such a hypocritical design of the present government are: Ha?
What? Why?
Going back to a more down to earth subject matter of
banking, there is this advisory that sees print every now and then. It is a
titled “Be a Wise Saver.” What it says is simple yet true, and therefore worthy
of sober consideration. Among its pieces of advice are the following: Be
prudent. Know your bank. Keep your bank records.
Be prudent: Do not put savings in a bank just because it is
near you – and/or it has big and enticing advertisements.
Know your bank: Do not entrust your savings to a bank just
because it gives big interests – without knowing its integrity and stability.
Keep your bank records: Do not just keep the records of your
bank transactions here and there – but together in a safe place.
Happy banking!
