Bank Withdrawal Slips

[Mike S]

Has anyone actually read their bank withdrawal slip to see what it says ...... the reason i ask this is because several years ago I got into a discussion (to put it mildly) with an individual ..... I told him about the Phils law that states even if you have a joint banking account and you or she dies the bank or government will freeze your account until the BIR is satisfied that it got it's fair share ..... I was told that is not true as your partner can with draw funds because it is in both your names ..... and I was told by a banking personal that they would give you 24 hours to withdraw your money should someone die .... nice gesture and it might work BUT  ....... if you read your withdrawal slip it clearly states the following (see attachment below) ...... about 1/2 way down you will find the answer to your question no matter what the bank tells you .... I'm told this is on all bank withdrawal slips as well as ATM withdrawals .....

 

Now I'm not sure if you could make an on-line transfer or not but it won't help if you have a US dollar account .... now I also read (on another forum) that the BIR will allow the surviving party to withdraw p20,000 .... I assume for burial expenses ..... the length of time it will take for the surviving party to get back the use of the account varies widely from several months to several years depending on how fast they withdraw their portion ......

 

So as I had originally suggested to the above mentioned individual you had better have a back up plan so your surviving partner has something to live on for at least 6 months after you are gone ..... that is if you care about them .... I know some will just say well what do I care I'll be gone anyway .....

 

I've made my arrangement .... how about you ... ???????????????????  :thumbsup: 

:cheersty:

 

[brock]

I,m not going to tell anybody when I die   :lol:

[i am bob]

I am immortal so I will never die!

 

It's true!  I've been given Last Rites 3 or 4 times now (or they attempted to) and, since I am not Catholic,..  

 

(Did you know military Padres can't read?  It states right on our dog tags our religion!)

 

:mocking:

[Call me bubba]

I,m not going to tell anybody when I die   :lol:

well thats your decision, if you have children how will they survive?

 

,1. every one who respects their loved ones, should have some sort of a back up plan,

2, yes i too have noticed it, since my pisos are so low, it may not be worth the effort for them to get it,

[brock]

brock, on 12 Jun 2013 - 01:41 AM, said: I,m not going to tell anybody when I die   well thats your decision, if you have children how will they survive?

 

 

:hystery:  :hystery:  :hystery: