pdic_UsapangPera_GuideBook

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It’s 5:30 AM on a Wednesday, and about four weeks till Mang Domeng flies back to his job in the Middle East. Aling Lorna fears that when Mang Domeng is gone, they would not be as strong in resisting temptations to spend. While he is here, Mang Domeng is the commander-in-chief and everybody toes the line. “But seriously,” says Harry, “tell me how you would react to the picture I am going to show you.” Harry proceeds to show the couple the following picture. 54 More Than Just Interest Rates
Mang Domeng says that he could barely understand the numbers while Aling Lorna says that she suddenly got a headache. Harry says, “Behavioral economists say that people suffer from number numbness. And the best way for people to overcome this number numbness is to apply heuristics.” Heuristics “What are these heuristics?”, asks Aling Lorna. Harry replies with the following lengthy discourse while the couple listens intently: “Heuristics are nothing more than educated guesses, rules of thumb, intuitive judgments and plain common sense. Heuristics are necessary for people to get through the myriad of decisions they have to make in a day, some say as much as 35,000 a day. And the way to cope is to use the short-cuts to decision-making that heuristics provide.” More Than Just Interest Rates 55
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Copyright 2013 by the Philippine De
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Foreword Through the Philippine Dep
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insured deposits. This Guidebook is
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Table of Contents A Brief History o
Page 12 and 13: Just like in the United States of A
Page 14: Table 1 1 Maximum Deposit Insurance
Page 17 and 18: Money is Important 7
Page 19 and 20: A Brief History of Money At the hou
Page 21 and 22: Different Forms of Money Seeing his
Page 23 and 24: Financial Expert’s Corner They sa
Page 26 and 27: The Different Life-Event Stages Six
Page 28 and 29: “In our case, we are saving up fo
Page 30 and 31: The next life-event stage is where
Page 32 and 33: How to Save Mang Domeng, as if to r
Page 34 and 35: Financial Expert’s Corner Saving
Page 36: Why and How to Save 1. There are ma
Page 39 and 40: A few minutes later, Tessie is alre
Page 41 and 42: • Suspicious transactions are tra
Page 43 and 44: Financial Expert’s Corner In acco
Page 45 and 46: Banks may or may not issue an ATM c
Page 47 and 48: He says that all that bank tellers
Page 49 and 50: Tessie expresses some concerns. “
Page 51 and 52: Aling Lorna smiles and continues,
Page 53 and 54: Located on the upper left hand corn
Page 55 and 56: Financial Expert’s Corner To avoi
Page 57 and 58: Mang Domeng says to Aling Lorna,
Page 59 and 60: Financial Expert’s Corner It shou
Page 61 and 62: In closing the deposit account, you
Page 66 and 67: The over-reliance on heuristics giv
Page 68 and 69: Financial Expert’s Corner Money a
Page 70 and 71: Financial Expert’s Corner It can
Page 72 and 73: Ponzi Schemes and Pyramiding Aling
Page 74 and 75: But before the couple leaves, Harry
Page 76: More Than Just Interest Rates 1. He
Page 79 and 80: PDIC is also authorized to investig
Page 81 and 82: Unable to suppress his smile, Orly
Page 83 and 84: depositors who have obligations wit
Page 85 and 86: The agent in a “By” deposit and
Page 87 and 88: Financial Expert’s Corner Effecti
Page 89 and 90: 3. How much is Fe Santos’s insure
Page 91 and 92: Member: PDIC 1. PDIC was created by
Page 94 and 95: It is just two weeks before Mang Do
Page 96 and 97: Figure 8 Investment Risk Profile* I
Page 98 and 99: cash or near cash account. Such acc
Page 100 and 101: Financial Expert’s Corner For lon
Page 102 and 103: Ed says, “In their simplest form,
Page 104 and 105: Stocks Mang Domeng notices a bewild
Page 106 and 107: “You see, Nanay, although they ar
Page 108 and 109: Financial Expert’s Corner The adv
Page 110 and 111: Other Places to Put Your Money 1. W
Page 112 and 113: It is just one more week before Man
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Loads have a validity of one year f
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3. Know Your Bank’s Service Fees
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time deposit automatically renewed
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6. Be Informed About PDIC Deposit I
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“Orly, I am an OFW,” Mang Domen
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Mang Domeng excitedly replies, “S
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The Power of Information 1. You, as
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Accrued interest - earned but still
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Ponzi Scam - an illegal financial s
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Determining If Your Expenses Are Ju
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Annex B Regulatory Issuance No. 201
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3. Granting high interest rates whe
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ANNEX A: Deposit-Related Activities
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BSP Circular No. 640 (Activities Wh
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Sample Claim Form (Page 1) Annex D
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Sample Claim Status Sheet Annex E 1
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Annex G Republic Act No. 9505 Augus
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(g) “PERA Investment Product” r
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Sec. 7. Separate Asset. -The PERA s
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(d) Disclosure requirements on the
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entitled hereto, shall be subject t
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