More than three-fourths of Filipino adults have no bank account, a survey by the Bangko Sentral ng Pilipinas (BSP) found.
According to a report by Oscar Oida on 24 Oras, the survey showed that only 23 percent of Filipino adults put their savings in the bank.
Some Pinoys interviewed said that it is more convenient for them to have their money within reach, while others are discouraged by the minimal earnings they'd make at the bank—and by the deduction a bank makes when an account dips below the minimum balance.
But Pia Roman Tayag, Managing Director and Inclusive Finance Advocacy Office and Concurrent Head of BSP's Financial Consumer Protection Department, said that keeping hold of savings is not safe.
"It's not safe. Pwede manakaw, or pwedeng pag alam mong may pera ka, gagastusin mo nang di kailangan," she said.
The BSP released guidelines for banks to help them increase the number of their account holders.
"Dapat walang maintaining balance. Number two, 'yung opening account dapat hindi hihigit sa P100. At saka yung documentary requirements very simple," Tayag said.
The BSP clarified that banks are not required to follow these guidelines but insisted that they will be highly beneficial.
If more Filipinos deposit savings in banks, the country's economy will improve, the central bank said. — Jessica Bartolome/BM, GMA News
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