Thursday, January 04, 2007

Handling of US$2000 and up cheque by banks

Once you have a dollar check (issued outside of the Philippines) that is US$2000 and up, some banks here don't treat it like a regular deposit but a "for collection" transaction. Usual charges of P100 per check will increase to P300++ and with a longer clearing period. That is from 21 days to 45 days.

We badly need Paypal in the Philippines and resolve the issues why we don't have Paypal full-blown here.

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