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Currently, there are more than 13,000 EPS merchants throughout the Philippines. [citation needed] In 2005, the EPS expanded to include the ATM cards of Banco de Oro and Land Bank of the Philippines, both Expressnet members. However, many EPS merchants claim that their EPS terminal works only with BPI ATM cards or do not know how to use Banco de ...
On July 6, 1970, initially one claim agent was assigned to handle the payout, although a transfer deposit scheme with the Rural Bank of Rinconada was later arranged to facilitate claims payment. In 1978, the maximum deposit insurance coverage was increased to 15,000 pesos per depositor, according to Presidential Decree 1451.
Claims against mis-sold PPI slowly increased, and approached the levels seen during the 2006–07 period, when thousands of bank customers made claims relating to allegedly unfair bank charges. In their 2009/2010 annual report, the Financial Ombudsman Service stated that 30% of new cases referred to payment protection insurance. A customer who ...
Globe Telecom has also pledged assistance to the central bank on its investigation. [12] On December 14, BDO announced that it is reimbursing funds of around 700 account holders. [13] It was reported that BDO is requiring victims to sign a quitclaim before reimbursing their lost money, in exchange of not filing legal charges against the bank.
As of May 2023, GCash claims to have 81 million active users and 2.5 million sellers and merchants across the Philippines. [ 2 ] [ 3 ] Since GCash does not have bank status, the ₱ 500,000 protection of funds deposited in a bank by the Philippine Deposit Insurance Corporation is not available for e-money issuers.
The Philippines filed a claim with the U.N. on Saturday to an extended continental shelf (ECS) in the South China Sea, a waterway where it has had increasingly confrontational maritime disputes ...
The Anti–Money Laundering Council (AMLC) is the agency of the Government of the Philippines that is tasked to implement the provisions of Republic Act No. 9160, also known as the Anti–Money Laundering Act of 2001 (AMLA), as amended, and Republic Act No. 10168, also known as the “Terrorism Financing Prevention and Suppression Act of 2012” (TFPSA).
The bank issued a statement that they were resolving the issue and assured that its clients would not lose any money. [3] BPI's stocks in the Philippine Stock Exchange remained unaffected in response to the incident. Luis Limlingan, head of research and sales at Regina Capital Development Corporation viewed that most investors could have seen ...