pdic_UsapangPera_GuideBook

• Suspicious transactions are transactions of clients of covered
institutions, regardless of amounts, where:
--
there is no legal source or basis for the transaction;
--
the client is not properly identified;
--
the business or personal finances of the client cannot possibly
produce the suspicious amount;
--
the transaction is hidden through many layers of owners;
--
the transaction is significantly different from the client’s historical
transactions; and
--
the transaction comes from an unlawful activity
Tessie asks her Nanay if a bank will accept the coins in her piggy
bank as a deposit.
Aling Lorna replies, “Yes, if the total amount of your coins meets
the minimum amount banks require for opening savings deposit
accounts. Once the account is opened, banks should accept any
amount as deposit.”
Sonny follows up with the question of whether banks will accept
checks as deposit.
“Yes, Sonny, banks also accept checks for deposit,” replies
Aling Lorna. “Tessie,” says Aling Lorna, “do you still remember our
discussion about checks?”
Tessie smilingly says, “Yes po, I still do.” “Very good then,” says
Aling Lorna.
Depositing Your Money 31