Legacy Group Banks May Be Doomed

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Mike S
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Don't worry about it then as it will be business as usual for you ...... I guess my bank BOC is the only one to close for the Government Legal holiday ...... Sorry for the miss information folks do as Mark says ..... banks will only be closed on Christmas day....

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Mr Lee
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BPI bank will also be closed, here is an email I got from them a day or so ago. I guess most banks will be closed and maybe some in the malls will be open, I am not sure, I guess it might be better to be safe than sorry. Expect more hassle-free holidays!December 25, 2008 will be the start of the 8-day long break.In light of this, the last banking day of the year will be on Wednesday, December 24, 2008 and the next banking day will be on January 2, 2009.With the long break just around the corner, it

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Mr Lee
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http://www.gmanews.tv/story/140474/Closed-...rs-money---PDICClosed banks will return depositors' money - PDICKIMBERLY JANE T. TAN, GMANews.TV12/20/2008 | 07:06 PM MANILA, Philippines
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tom_shor
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So you have closed my bank and my bank account and now you will pay my balance with a check. That's nice. :thumbsup:

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Mike S
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chimellie
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Somehow I have to get in touch with PDIC to get my money back. It's under the PDIC insured limits, I am in the US now.

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Mr Lee
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Somehow I have to get in touch with PDIC to get my money back. It's under the PDIC insured limits, I am in the US now.
Not sure how you are going to do that from the states. You might be able to give a relative power of attorney or something like that and maybe the bank will allow them to do it for you, but maybe this just means that you will have to come back early next year and do it yourself.I do not know how Legacy works, did you get a bank book and deposit slip? or something else in your name showing your deposit into their banks?If you did, then you should get your money back. I have been posting all this stuff for people like yourself, so you all know exactly what is going on.Hope it all works out and maybe it will be worth another trip back to fill out the forums.Here is the PDIC website, maybe you can email them and ask them questions?http://www.pdic.gov.ph/Here is their email address info@pdic.gov.ph
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Mr Lee
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http://www.sunstar.com.ph/network/deposito...on-bank-holidayDepositors seek explanation on bank holidayTuesday, December 23, 2008 PAMPANGA -- Irate depositors trooped to the main office of the Sta. Rita Rural Bank (SRRB) Monday to "demand an explanation" from a three-decades-old rural bank, which has gone on a bank holiday.A bank holiday is when a bank "temporarily" closes shop if it cannot meet withdrawals for the day. The bank may declare a bank holiday on its own and then subject itself to investigation by the Central Bank. Most reasons would be financial and pending loan obligations from borrowers.Some 150 depositors and their families swarmed the front doors of SRRB's main branch in Barangay San Vicente in Sta. Rita, hoping they could get at least some clarification on the bank's financial standing. However, its doors have been tightly shut since Friday last week. It was reported the bank had allegedly filed for a bankruptcy notice although the Bangko Sentral ng Pilipinas (BSP) has yet to confirm that the bank has indeed gone bankrupt. In a text message sent to Sun.Star, Carlos Landangan of the BSP Integrated Supervision Department said he received news of the financial condition of SRRB only from "third parties." The depositors meanwhile were upset upon learning this. "This is so unfair. What they could at least do is tell us what we should do. They must explain to us why the bank has gone bankrupt," said the 68-year-old Ludivina Mangiliman.Mangiliman stood in line in front of the bank. However, the bank's doors did not open until Monday afternoon. Sun.Star tried to reach SRRB officials for comment but to no avail. Businessman Victoriano de Castro owns SRRB.Mangiliman and other depositors said the bank's management should explain why it closed its doors to depositors."It is already Christmas in a few days and I have not withdrawn any money from my savings. What will I spend in the coming days?" said Mangiliman, who has deposited P60,000 of her life savings in SRRB."This is so inconsiderate, they closed the bank a few days before Christmas," remarked another depositor. One depositor also said if the bank has indeed gone bankrupt, he would lose around P65,000. "They should explain this to us. We will come back to the bank until they give us some answers." The main branch of SRRB in Sta. Rita has depositors from the rural villages of Diladila, San Vicente, San Jose, and Sta. Monica - most of them are small and medium entrepreneurs. Most small deposits, on the other hand, are those from retirees and old folks who depend on their life savings to finance their daily expenses. Deposits of P250,000 and below are insured by the Philippine Deposit Insurance Corporation (PDIC). (IOF/Sunnex)
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chimellie
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Hey guys.. I just got done talking to my agent in Cebu, he said since my money is with Oriental Bank , not Rural Banks therefore I am safe.So the party is on....Lechon, tanduay, balut, San Miguel beer.....are on the menu.

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Mr Lee
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Hey guys.. I just got done talking to my agent in Cebu, he said since my money is with Oriental Bank , not Rural Banks therefore I am safe.So the party is on....Lechon, tanduay, balut, San Miguel beer.....are on the menu.
:AddEmoticons04230: That is great news! :thumbsup: both parts. :th_thanx: :cheers:
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