Safest Banks in The Philippines

israelidancer · #1 (**permalink**) 10-01-2008, 04:14 AM

With the bank failures in the USA in mind, which banks in the PR are the safest and least likely to fail?
Thinking of retiring in Dumaguete.

Keith and Cristy
Concord, CA

India-One · #2 (**permalink**) 10-01-2008, 11:10 AM

Quote:

Originally Posted by israelidancer

With the bank failures in the USA in mind, which banks in the PR are the safest and least likely to fail?
Thinking of retiring in Dumaguete.

Keith and Cristy
Concord, CA

Bank of the Philippine Islands

john boy · #3 (**permalink**) 10-01-2008, 11:40 AM

Quote:

Originally Posted by India-One

Bank of the Philippine Islands

At the moment I would say the safest Bank is the River Bank!

or under the mattress !!

India-One · #4 (**permalink**) 10-01-2008, 04:46 PM

Quote:

Originally Posted by john boy

At the moment I would say the safest Bank is the River Bank!

or under the mattress !!

makes a good alternative to the brits...

Union Jack · #5 (**permalink**) 10-01-2008, 05:52 PM

Given that current interest rates on saving accounts are neglectable, wouldn't make sense to deposit your hard earned cash into a bank safety box?
At least it would be safe wouldn't it? Or not?

Timn8ter · #6 (**permalink**) 10-01-2008, 06:25 PM

Gold coins and a big safe sunk in concrete.

firea · #7 (**permalink**) 10-01-2008, 07:00 PM

I bank with BPI (Bank of the Philippine Islands) and Banco De Oro (owner is the same with the SM Malls)

Timn8ter · #8 (**permalink**) 10-01-2008, 08:12 PM

On a more serious note;
I think most expats put their money into government insured banks that have an international presence either with local branches or via Internet transfers. Examples may be HSBC or Regal. Then they transfer smaller amounts as needed from the international account into the local bank.