This may be an old article -- I received it in my e-mail about six months ago -- but it is quite interesting so let me share it with all of those who might be interested.
______________________________
My Dad is a Broke OFW (open letter to all OFWs)
by Trace Trajano
Kumusta na kabayan!
First, I would like to thank you for being an OFW. My dad used to be an OFW and I know the many sacrifices you are enduring right now just so that you can provide the best for your family. I admire you, I appreciate you and in my book, you are a true Pinoy hero.
Second, I would like to help you. I would like to help you in the same way I helped Bobet, a former OFW. Under my coaching, from being broke and in debt, in just 12 months Bobet became a millionaire. Bobet is in fact back in the Philippines. He no longer needed to work as a nurse here in the U.S. He no longer misses his wife and kids. He can now kiss and hug them everyday. He has achieved in 1 year what most OFWs will never achieve in their lifetime. How did he do it?
I taught Bobet the Secrets of Wealth. And if you want to be like Bobet, read on because I want to teach you the Secrets of Wealth as well. But there’s a catch. You will only understand the Secrets of Wealth by understanding how my dad, an OFW like you became broke.
I’ve experienced as a child what I call a roller coaster of wealth. In Tagalog, we call this “Gulong ng Palad” (Wheel of Fortune) because there are times we’re on top of the world and there are times we’re at the bottom. When my dad comes back from abroad it is like a fiesta. The alcohol is overflowing. The whole town seems to be at our door step and my dad’s pasalubongs never seem to run out. Packets of cigarette. Bottles of whisky. Chocolates for the kids. Jewelry for my mom. It is like we’re millionaires every time my dad goes home.
But we’re millionaires only for a short time.
Two weeks later, the money’s gone. My mom and dad start to argue. And my dad seriously considers going back to the ship. He borrows money from his mom – my grandmother (we call “Nanay”). One time, my mom and dad even asked me to borrow money from Nanay because both of them were already turned down. I guess that tactic worked because Nanay couldn’t say NO to his apo and we ate dinner that night.
Then things turn for the worse. The many friends who cheerfully greeted my dad’s homecoming are no longer around. Instead, creditors start hounding us, pounding at our door. At 8 years old, I am taught to lie and tell the creditor my mom is not around even though she is just there beside me kneeling and praying the creditor goes away.
From feeling like millionaires for a few days to being dead broke 2 weeks later – describing it as a roller coaster or a wheel of fortune is an understatement. My mom and dad managed to squander all their savings and more.
So 2 months later, my dad is back at the airport again. We have tears in our eyes once again as we bid him goodbye. My dad would have to work hard on a ship 10 months in a year mostly to pay off our greedy lenders and creditors.
My dad tried to invest – buying a tricycle but the business became bankrupt as fast as it was started. My dad recalled that tricycle with pride in his voice “It was the first stainless steel tricycle in our town”. He was proud of the product but he did not take the time to understand the business.
There were many days our home is literally dark because we couldn’t pay for the electric bill. Once, as a 9-year old boy, I was devastated when I saw my books have been sold so that we will have food on the table that day. Then the worst happened: we lost our home to foreclosure because there was no money left to pay for the mortgage.
Is the story above familiar to you? I bet most OFWs have the same lifestyle cycle as my dad. Rich one day then broke another.
Have you discovered the Secrets to Wealth in my dad’s story?
At its core, it really is very simple. You will be wealthy if you do the exact opposite of what my dad did.
Don’t waste your money by throwing a lavish home coming party for the whole town – SAVE your money instead. Have a small gathering with your family and loved ones. Your children will appreciate it more because they want your presence more than your presents. Get into the habit of saving at least 10-20% of everything you earn. The earlier you get that habit the wealthier you will become or the faster you will become a millionaire.
Bobet saves 50% of what he earns. No wonder he has become a millionaire in only 12 months.
But you cannot save your way to millions. You have to learn how to invest your savings. My aunt who used to work as a bank clerk, who earned 1/10th of what my dad earned as a seaman is now a multi-millionaire because she learned to invest her money. Your savings must go to “work” for you. They must produce good returns or profit. But you cannot stop there. You have to reinvest your profits so that your wealth can grow exponentially.
My aunt started a business butchering chickens in the wet market (palengke). She saved half of her profits and lived off the other half. She then put her savings to buy a store. The profits from the store and the chicken business were then invested into a farm. The profits from the farm, the store and the chicken business were then invested into a resort. The profits from the resort, the farm, the store and the chicken business were then invested into apartment buildings.
As a result of saving, investing, and reinvesting her profits, my aunt becomes richer and richer even as she works less and less while my dad because of spending, borrowing, then spending becomes poorer and poorer even as he works harder.
The choice is yours. Bobet chose to become rich and he put in the time to learn and apply the Secrets of Wealth. Bobet is now in the Philippines employing 30 people because of the businesses he started. 30 families now rely on Bobet because he applied the Secrets of Wealth and Bobet is proving you can become wealthy even back home.
I like you to be wealthy my friend. But the choice is up to you.
Dedicated to your success,
Trace
P.S. Please forward this to every OFW you know – in fact, forward it to everyone you know for that matter. Everyone needs to learn and apply the Secrets of Wealth.
Trace Trajano is a real estate investor, author of the best selling book “Think Rich – Quick” and a wealth coach to students around the world. His vision is to create directly or indirectly 1 Million Pinoy Millionaires worldwide by the year 2020. Trace himself is an OFW living in the Ohio, United States with his wife and 2 kids.
Saturday, July 31, 2010
Thursday, July 29, 2010
Water Station Business: Still Feasible?
A very good friend of mine is seriously contemplating about the idea of setting up a water station business in our locality. She asked me to help her regarding the necessary research study about the said business.
Below are some of the posted articles which I found in the Internet. Please click on each link to see what it's all about.
1. Water Station Business
2. Setting-Up a Water Refilling Station
3. Bakit maraming for sale na water station business?
4. Planning To Open A Water Refilling Station
5. How to Start a Water Refilling Station Business
6. Water Refilling Station Business Guide
7. A Study on Water Refilling Station
8. Purified Water Refilling Station Business
9. Water Station problem : We need help!!!
10. Water refilling station: good business?
Well, enjoy reading and good luck to all others who are thinking of venturing into water business!
For business registration procedure, please check out:
Philippine Business Registration Guide
Below are some of the posted articles which I found in the Internet. Please click on each link to see what it's all about.
1. Water Station Business
2. Setting-Up a Water Refilling Station
3. Bakit maraming for sale na water station business?
4. Planning To Open A Water Refilling Station
5. How to Start a Water Refilling Station Business
6. Water Refilling Station Business Guide
7. A Study on Water Refilling Station
8. Purified Water Refilling Station Business
9. Water Station problem : We need help!!!
10. Water refilling station: good business?
Well, enjoy reading and good luck to all others who are thinking of venturing into water business!
For business registration procedure, please check out:
Philippine Business Registration Guide
Monday, February 2, 2009
A job crisis survival guide
By Ma. Salve Duplito
INQUIRER.net
First Posted 20:49:00 02/01/2009
http://business.inquirer.net/money/personalfinance/view/20090201-186850/A-job-crisis-survival-guide
YOU COULD SAY PREPARING for extreme uncertainty now that corporate shutdowns and downsizing are escalating is already a bit late.
In a perfect world, we should have already drawn up clever financial escape hatches and different levels of fallback strategies to survive possible unemployment.
But it’s also human nature to party while Noah-like characters build arks when the sun is shining. Unfortunately, the sun is gone and rain is falling. Just last week, Intel has announced it was closing its more than two-decades-old plant in the Philippines, turning 1,800 employees jobless—and that was just the beginning.
Panasonic, Mitsumi Phils., Texas Instruments and many others announced they were either totally shutting down plants or downsizing. Official figures from the Department of Labor and Employment show that 19,000 Filipinos have already been retrenched and 34,000 have suffered from wage cuts as of Jan. 29. Hundreds more are losing their jobs every day, said Labor Secretary Marianito Roque.
Globally, the figures look even more alarming. The International Labor Organization expects the economic crunch to add 50 million people to the ranks of the unemployed this year.
“The outlook is bleak, even without reading the papers. (Many companies) are affected in various degrees of aggravation. Manufacturing is certainly affected in a large way. I thought that services would be spared but they are not. The curious thing is that some are not really affected that much but nevertheless take steps to cut people because the news is scaring them out of their wits,” says Manuel Quiambao, assistant dean of JRU Law School and a seasoned human resource practitioner.
If there is a time when losing your financial edge is a no-no, this is it. Losing a job doesn’t just mean loss of a regular paycheck. It can also mean losing that health insurance you’ve never really appreciated before. It can mean giving up gas, clothing and representation allowances, not to mention your sense of self-worth and financial peace with your spouse.
“Filipinos are known to only have nine weeks worth of savings. What if you don’t even have nine weeks?” says Alvin Tabañag, personal money management coach and registered financial planner.
Here’s your survival guide for these lean months:
1. Know your rights. Companies have at their disposal many tricks to lower the cost of cutting jobs.
They can call it “retrenchment,” instead of “redundancy” and save 50 percent in separation pay. Instead of getting one month for every year of service, you get only half a month if it’s a retrenchment.
Don’t forget, however, that membership in a union can entitle you to more than that so check with your union officers.
If you are being asked to stop work for no more than six months, the company doesn’t have to pay a single peso in separation pay and all benefits are suspended. Then again, you have a job after six months, although you can never be sure until when the company will keep you after that.
Employees should have at least a month’s notice before they are given the pink slip. “The labor department is given a copy of that notice so that the government and also the employees can initiate an inquiry on whether the company has competent proof that it really needs to lay off workers,” says Quiambao.
Expect most companies to use the raging economic crisis as their reason for cutting jobs, but don’t take their word for it. Under the law, before companies can send workers packing, they need to prove that they have done everything necessary to keep the company alive, like rotating workers in shifts and cutting costs. Companies also need to prove that losses are imminent, substantial and they need to back these up with audited financial statements.
If you find out that you’ve been given the boot due to the tough economic environment but the company hires someone else for a similar position, that’s foul play. “That’s invalid, and you can go after the company,” says Carlo Cariño, senior partner at the Cariño and Mabalot Law Offices..
2. Keep your current job. We all sort of mildly get fed up with our jobs from time to time. It’s called getting burned out. This year is not the time to let that feeling get the most of you. Don’t be a good employee; be exceptional because being indispensable keeps your neck off the chopping block. It’s easy to get lost in the daily to-do list, but the one thing that will keep you in the roster is if you understand what it takes for you to be a moneymaker for the company. That’s always the bottom line. And whatever you do, never badmouth anyone. What if the last person you rat on becomes your boss after a merger, then where would you be?
3. Dust off that resumé and keep your contact list close. Hoping for the best but expecting the worst means you better get that resumé dusted off and updated. If your contact list is in your computer at the office, back it up and keep your own copy. Update it on your own time. Everybody talks about networking, but few people actually spend time doing it.
“Normally, you can get the best job offers through your family, friends, ex-lovers, everybody you know. Online job searches are great resources too,” says Tabañag.
4. Feed that emergency fund like it’s a voracious pet. Start tracking your spending and you’ll find ways to save some pesos even if you think you’re stretched already. Postpone big purchases or vacations and keep your priorities straight. Be very careful with swiping that credit card. Feeling depressed because of all the gloomy news can cause you to use plastic like a drug by buying stuff to feel good about yourself. Don’t do it.
“If you go to the movies twice a week, perhaps do it once a month instead.. If you are depressed and want to drink beer, remember that it costs P22 per bottle,” Tabañag adds.
Read the complete article at http://business.inquirer.net/money/personalfinance/view/20090201-186850/A-job-crisis-survival-guide.
INQUIRER.net
First Posted 20:49:00 02/01/2009
http://business.inquirer.net/money/personalfinance/view/20090201-186850/A-job-crisis-survival-guide
YOU COULD SAY PREPARING for extreme uncertainty now that corporate shutdowns and downsizing are escalating is already a bit late.
In a perfect world, we should have already drawn up clever financial escape hatches and different levels of fallback strategies to survive possible unemployment.
But it’s also human nature to party while Noah-like characters build arks when the sun is shining. Unfortunately, the sun is gone and rain is falling. Just last week, Intel has announced it was closing its more than two-decades-old plant in the Philippines, turning 1,800 employees jobless—and that was just the beginning.
Panasonic, Mitsumi Phils., Texas Instruments and many others announced they were either totally shutting down plants or downsizing. Official figures from the Department of Labor and Employment show that 19,000 Filipinos have already been retrenched and 34,000 have suffered from wage cuts as of Jan. 29. Hundreds more are losing their jobs every day, said Labor Secretary Marianito Roque.
Globally, the figures look even more alarming. The International Labor Organization expects the economic crunch to add 50 million people to the ranks of the unemployed this year.
“The outlook is bleak, even without reading the papers. (Many companies) are affected in various degrees of aggravation. Manufacturing is certainly affected in a large way. I thought that services would be spared but they are not. The curious thing is that some are not really affected that much but nevertheless take steps to cut people because the news is scaring them out of their wits,” says Manuel Quiambao, assistant dean of JRU Law School and a seasoned human resource practitioner.
If there is a time when losing your financial edge is a no-no, this is it. Losing a job doesn’t just mean loss of a regular paycheck. It can also mean losing that health insurance you’ve never really appreciated before. It can mean giving up gas, clothing and representation allowances, not to mention your sense of self-worth and financial peace with your spouse.
“Filipinos are known to only have nine weeks worth of savings. What if you don’t even have nine weeks?” says Alvin Tabañag, personal money management coach and registered financial planner.
Here’s your survival guide for these lean months:
1. Know your rights. Companies have at their disposal many tricks to lower the cost of cutting jobs.
They can call it “retrenchment,” instead of “redundancy” and save 50 percent in separation pay. Instead of getting one month for every year of service, you get only half a month if it’s a retrenchment.
Don’t forget, however, that membership in a union can entitle you to more than that so check with your union officers.
If you are being asked to stop work for no more than six months, the company doesn’t have to pay a single peso in separation pay and all benefits are suspended. Then again, you have a job after six months, although you can never be sure until when the company will keep you after that.
Employees should have at least a month’s notice before they are given the pink slip. “The labor department is given a copy of that notice so that the government and also the employees can initiate an inquiry on whether the company has competent proof that it really needs to lay off workers,” says Quiambao.
Expect most companies to use the raging economic crisis as their reason for cutting jobs, but don’t take their word for it. Under the law, before companies can send workers packing, they need to prove that they have done everything necessary to keep the company alive, like rotating workers in shifts and cutting costs. Companies also need to prove that losses are imminent, substantial and they need to back these up with audited financial statements.
If you find out that you’ve been given the boot due to the tough economic environment but the company hires someone else for a similar position, that’s foul play. “That’s invalid, and you can go after the company,” says Carlo Cariño, senior partner at the Cariño and Mabalot Law Offices..
2. Keep your current job. We all sort of mildly get fed up with our jobs from time to time. It’s called getting burned out. This year is not the time to let that feeling get the most of you. Don’t be a good employee; be exceptional because being indispensable keeps your neck off the chopping block. It’s easy to get lost in the daily to-do list, but the one thing that will keep you in the roster is if you understand what it takes for you to be a moneymaker for the company. That’s always the bottom line. And whatever you do, never badmouth anyone. What if the last person you rat on becomes your boss after a merger, then where would you be?
3. Dust off that resumé and keep your contact list close. Hoping for the best but expecting the worst means you better get that resumé dusted off and updated. If your contact list is in your computer at the office, back it up and keep your own copy. Update it on your own time. Everybody talks about networking, but few people actually spend time doing it.
“Normally, you can get the best job offers through your family, friends, ex-lovers, everybody you know. Online job searches are great resources too,” says Tabañag.
4. Feed that emergency fund like it’s a voracious pet. Start tracking your spending and you’ll find ways to save some pesos even if you think you’re stretched already. Postpone big purchases or vacations and keep your priorities straight. Be very careful with swiping that credit card. Feeling depressed because of all the gloomy news can cause you to use plastic like a drug by buying stuff to feel good about yourself. Don’t do it.
“If you go to the movies twice a week, perhaps do it once a month instead.. If you are depressed and want to drink beer, remember that it costs P22 per bottle,” Tabañag adds.
Read the complete article at http://business.inquirer.net/money/personalfinance/view/20090201-186850/A-job-crisis-survival-guide.
Friday, October 10, 2008
Paypal Withdrawal to Philippine Local Bank
It has been several months now since Paypal allowed direct fund withdrawal to Philippine local banks.
This afternoon, I made another withdrawal from my Paypal account to my BPI Family Savings Bank account. According to our online currency converter, today's exchange rate is 1 USD = 47.825 PHP.
The amount I transferred from Paypal to BPI is 230 USD. Though aware that Paypal's conversion rate is a bit below than the exchange rate given by the online currency converter, today's rate is even lower based on conversion difference. In my September transaction, there was just a conversion difference of approximately 1 PHP -- while, this time, Paypal's conversion rate is 1 USD = 46.1715 PHP, which gives a 1.6535 PHP difference.
Here's the full screen shot of my Paypal transaction details:
<-- Click image to see bigger picture.
It normally takes about five to seven days to complete the whole fund transfer transaction. Now, since today is a Saturday, the soonest I can expect to get the amount credited to my BPI account will be around Friday.
I will just update this post once the entire process is done.
This afternoon, I made another withdrawal from my Paypal account to my BPI Family Savings Bank account. According to our online currency converter, today's exchange rate is 1 USD = 47.825 PHP.
The amount I transferred from Paypal to BPI is 230 USD. Though aware that Paypal's conversion rate is a bit below than the exchange rate given by the online currency converter, today's rate is even lower based on conversion difference. In my September transaction, there was just a conversion difference of approximately 1 PHP -- while, this time, Paypal's conversion rate is 1 USD = 46.1715 PHP, which gives a 1.6535 PHP difference.
Here's the full screen shot of my Paypal transaction details:
<-- Click image to see bigger picture.It normally takes about five to seven days to complete the whole fund transfer transaction. Now, since today is a Saturday, the soonest I can expect to get the amount credited to my BPI account will be around Friday.
I will just update this post once the entire process is done.
Sunday, October 5, 2008
Business Registration Guide (Philippines)
The following are the government agencies that a start-up business in the Philippines needs to register with:
1. Department of Trade and Industry (DTI)
This is where you register if your enterprise is a single proprietorship. The agency will issue a certificate of registration of business name.
2. Securities and Exchange Commission (SEC)
If your enterprise is a partnership or a corporation, this is where you will register. It will issue a certificate of registration.
3. Cooperative Development Authority (CDA)
If your set-up is a cooperative, register with this body. The agency will issue the certificate of registration.
4. Local Government Unit (LGU)
You register with the municipality or city where you will set up your business. This office will issue the business permit.
5. Barangay
You register with the specific barangay in the municipality or city where you will operate your business. This office will issue the barangay clearance.
6. Bureau of Internal Revenue (BIR)
You register your business with this office and apply for your business’s taxpayer identification number (TIN), registration of books of accounts, authority to print.
7. Social Security System (SSS)
You register your business as an employer, yourself as a self-employed or as employee, and your workers as employees. This office will issue an SSS number for your business, for yourself, as well as for your workers.
8. Department of Labor and Employment (DOLE)
If you employ five workers or more, register your business with this agency. The DOLE is asked to promote gainful employment opportunities, protect workers and promote their welfare, develop human resources, and maintain industrial peace.
9. Home Development Mutual Fund (HDMF)
RA 7742 requires all SSS members earning at least P4,000 a month to register with this agency. HDMF administers the Pag-Ibig Fund.
10. Philippine Health Insurance Corp. (PhilHealth)
The New National Health Insurance Act (RA 7875) as amended by RA 9241 requires all employers of the government and private sectors and their employees to register with this agency. PhilHealth manages and administers the government health care system.
SOURCE: http://www.business.gov.ph
1. Department of Trade and Industry (DTI)
This is where you register if your enterprise is a single proprietorship. The agency will issue a certificate of registration of business name.
2. Securities and Exchange Commission (SEC)
If your enterprise is a partnership or a corporation, this is where you will register. It will issue a certificate of registration.
3. Cooperative Development Authority (CDA)
If your set-up is a cooperative, register with this body. The agency will issue the certificate of registration.
4. Local Government Unit (LGU)
You register with the municipality or city where you will set up your business. This office will issue the business permit.
5. Barangay
You register with the specific barangay in the municipality or city where you will operate your business. This office will issue the barangay clearance.
6. Bureau of Internal Revenue (BIR)
You register your business with this office and apply for your business’s taxpayer identification number (TIN), registration of books of accounts, authority to print.
7. Social Security System (SSS)
You register your business as an employer, yourself as a self-employed or as employee, and your workers as employees. This office will issue an SSS number for your business, for yourself, as well as for your workers.
8. Department of Labor and Employment (DOLE)
If you employ five workers or more, register your business with this agency. The DOLE is asked to promote gainful employment opportunities, protect workers and promote their welfare, develop human resources, and maintain industrial peace.
9. Home Development Mutual Fund (HDMF)
RA 7742 requires all SSS members earning at least P4,000 a month to register with this agency. HDMF administers the Pag-Ibig Fund.
10. Philippine Health Insurance Corp. (PhilHealth)
The New National Health Insurance Act (RA 7875) as amended by RA 9241 requires all employers of the government and private sectors and their employees to register with this agency. PhilHealth manages and administers the government health care system.
SOURCE: http://www.business.gov.ph
Saturday, October 4, 2008
G-Cash: A Mobile Money Experience
Only a matter of time, Pinoys may walk around with no need for cash in their pockets anymore. It has been happening in other countries so it can be possible in our country as well. What do you think?
For one, there is G-Cash. It is a service that turns your cellphone into an electronic wallet and it is a first from Globe.
My Globe SIM Card has been registered to G-Cash since late last year though it is only a week ago that I finally had it funded. Well, it seems quite a wise decision on my part as I've already made a few successful G-Cash transactions in such a short time. Based on actual experience, the service comes so handy that it saves time, money and effort.
1. My cousin who is studying in Manila gets her weekly allowance only on weekends when she comes home. Although my aunt is ready for my cousin's regular allowance, considering the present economic crisis, she's not prepared for other expenses such as an expensive subject requirement at school. One time, my cousin was told that her Dad will deliver the money to her as soon as they have collected enough funds. When I learned about the situation, I advised that there is no need to personally deliver the cash as it can be easily done through text using G-Cash. It was really fast and easy!
2. I need to make a call but I do not have enough balance to do so. It's a good thing I have G-Cash funds -- I was able to buy prepaid load through my own cellphone and I even got 10% rebate from that purchase. It's so convenient!
3. I am doing necessary preparations for a new business project. I visited the official website of the Department of Trade and Industry (DTI) for my new business name registration application. The online application was completed successfully and the application fee of P300 was paid through G-Cash. It really saves time, money and effort!
4. For ages now, I've been wanting to donate even just a small amount to UNICEF but maybe that desire is not so great that going to any bank or Bayad Center which accepts payments for such donation is always set aside. I'm glad to have finally accomplished the task through G-Cash. It feels great!
---------------------------
Well, for those interested about G-Cash, the following are some useful information. The following is taken from the Globe G-Cash website FAQs section.
What is G-Cash?
G-Cash is the brand new service that turns your cellphone into an electronic walleT and it’s a first from Globe!
With G-Cash, Globe and Touch Mobile subscribers to can easily and conveniently
1. send G-Cash both here and abroad
2. receive G-Cash and exchange it for cash
3. make payments just by texting
It’s fast, secure, and reliable, all made possible by the banking institutions and money transfer services you’ve come to trust over the years.
Non-subscribers can also send cash electronically to Globe and Touch Mobile subscribers through authorized G-Cash outlets.
How do I activate my G-CASH service?
First, a Globe or Touch Mobile subscriber should register to be able to cash-out their G-Cash at authorized G-Cash outlets or send G-Cash to another Globe or Touch Mobile subscriber. A subscriber doesn’t have to register to receive G-Cash. However, he must register to be able to cash-out or send G-Cash to another subscriber.
To register, send REG (4-digit M-PIN)/(Mother's Maiden Name)/
(FirstName)/(LastName)/(Address)/Tel No. with area code to 2882
The subscriber will then receive an acknowledgment receipt of the successful registration.
Also, it is important that the subscriber registers his real name and details as the information will have to match his I.D.
Are there any limits to the amount of transactions?
Minimum amount for person-to-person transfer is P1.00. However, minimum cash-out or cash-in transaction will depend on the outlet where you are cashing-in or cashing-out.
For Globe Business Centers, there is no minimum cash-in and cash-out amount. However, the fee for cash-in/cash-out transactions below P1,000 will be a flat P10.00 while for transactions P1,000 and above, the fee will be 1% of the amount being cashed-in/out (Ex. P10.00 for a P1,000.00 transaction). Maximum cash-in and cash-out at a Globe Business Center is P10,000.
Maximum amount for single cash-in, cash-out, or person-to-person transfer transaction is Php 10,000. A subscriber can accumulate only a maximum of Php 10,000 worth of G-cash in his wallet; thereafter he must cash-out or transfer G-cash to another person before he can accept more G-Cash. Maximum amount of cash-out or person-to-person transfer per subscriber per day, regardless of number of transactions, is Php 40,000. Maximum amount that can be transacted, regardless of number of
How do I claim my G-CASH?
You may go to a Globe Business Center or you may go to any G-Cash outlet which is authorized to do Cash-out (Please see attached list, rates will depend on each partner).
A. For Business Center
1. Fill up a G-Cash service form (name, amount to be cashed-out and mobile number of subscriber).
2. Present required identification to the frontliner (please see attached list of valid ID’s).
3. Subscriber pays processing fee (For amounts below P1,000 there is a flat P10.00 fee. For amounts P1,000 and above, 1% of amount will be the fee, for ex. P10.00 for every P1,000.00 being cashed-out).
4. Frontliner will write down a unique transaction code on the service form.
5. The business center will send a text message to the subscriber requesting to deduct the G-Cash from their wallet. The subscriber simply has to reply with his MPIN to confirm.
6. Frontliner will then print an acknowledgement receipt for the cash-out and an official receipt for the transaction fee.
7. Subscriber receives the cash. Note: Maximum cash-out is Php 10,000 (which is also maximum amount that a regular subscriber’s G-Cash wallet can hold at any given time).
B. For authorized G-CASH Outlet
1. Fill up a service form (ex. name, amount to be cashed-out and mobile number of subscriber).
2. Subscriber presents required identification to the frontliner.
3. Subscriber pays processing fee (this will depend on each outlet). He can either pay it in cash or include it in the G-Cash amount that will be sent to the outlet’s mobile phone no.
4. Frontliner will show outlet’s authorized mobile number to subscriber.
5. Subscriber sends the following message: and send to 2882+<10 digit mobile number of authorized outlet>
6. Subscriber receives the cash from authorized outlet. Note: minimum and maximum cash-out depends on each outlet.
How do I send G-CASH to a Globe or Touch Mobile subscriber?
Just send the following message: (amount to be sent) (M-PIN) (70 character message) and send to 2882+(10 digit mobile number of recipient. 70 character message is optional
How do I load G-Cash into my phone?
Just go to any Authorized G-Cash outlet which accepts Cash-in transactions. Show required identification to frontliner. Give the frontliner the cash plus the processing fee and the outlet will send the G-Cash to your mobile phone number directly.
Local non-subcribers
1. How do I send G-Cash to a Globe or Touch Mobile subscriber? Can I send to a non-Globe or Touch Mobile subscriber?
G-Cash can only be received by Globe Handyphone and Touch Mobile subscribers.
a. Just go to any Globe Business Center or Authorized G-Cash Outlet who accepts Cash-in transactions.
b. Fill up a G-Cash Service Form which will require you to give your full name, address and telephone number, your beneficiary’s name, address, telephone number and mobile phone number as well as the amount that you would like to send. Please make sure to present a Valid I.D.
c. Pay the Cash-in fee to the frontliner.
d. Frontliner will send the G-Cash to your beneficiary and give you an acknowledgement receipt for the transfer and an O.R. for the processing fee.
2. What if the G-Cash is sent to an expired number? Can my beneficiary get the amount? Can I get back the amount?
Please ensure first that the recipient of your G-Cash is an active number, and please advise your beneficiary to claim the G-Cash promptly. If the number you sent G-Cash to is expired, your beneficiary will have to go a Globe Business Center or Globelines Payment and Service Cetner to claim the remittance. You cannot claim back the amount from the cash-in outlet.
International non-subscribers
1. How do I send G-Cash to a Globe or Touch Mobile subscriber? Can I send to a non-Globe or Touch Mobile subscriber?
G-Cash can only be received by Globe Handyphone and Touch Mobile subscribers.
Just go to any Authorized International G-Cash Outlet who accepts Cash-in transactions (please see attached list).
Fill up a Cash-in Form which will require you to give your full name, address and telephone number, your beneficiary’s name, address, telephone number and mobile phone number as well as the amount that you would like to send. Please make sure to present a Valid I.D.
Pay the Cash-in fee to the frontliner.
Frontliner will send the G-Cash to your beneficiary and give you an acknowledgement receipt for the transfer and an O.R. for the processing fee.
2. What if the G-Cash is sent to an expired number? Can my beneficiary get the amount? Can I get back the amount?
Please ensure first that the recipient of your G-Cash is an active number, and please advise your beneficiary to claim the G-Cash promptly. If the number you sent G-Cash to is expired, your beneficiary will have to go to a Globe Business Center or Globelines Payment and Service Center to claim the remittance. You cannot claim back the amount from the cash-in outlet.
* For more information, visit the Globe G-Cash website FAQs section:
http://www.myglobe.com.ph/gcash/faqs.asp
For one, there is G-Cash. It is a service that turns your cellphone into an electronic wallet and it is a first from Globe.
My Globe SIM Card has been registered to G-Cash since late last year though it is only a week ago that I finally had it funded. Well, it seems quite a wise decision on my part as I've already made a few successful G-Cash transactions in such a short time. Based on actual experience, the service comes so handy that it saves time, money and effort.
1. My cousin who is studying in Manila gets her weekly allowance only on weekends when she comes home. Although my aunt is ready for my cousin's regular allowance, considering the present economic crisis, she's not prepared for other expenses such as an expensive subject requirement at school. One time, my cousin was told that her Dad will deliver the money to her as soon as they have collected enough funds. When I learned about the situation, I advised that there is no need to personally deliver the cash as it can be easily done through text using G-Cash. It was really fast and easy!
2. I need to make a call but I do not have enough balance to do so. It's a good thing I have G-Cash funds -- I was able to buy prepaid load through my own cellphone and I even got 10% rebate from that purchase. It's so convenient!
3. I am doing necessary preparations for a new business project. I visited the official website of the Department of Trade and Industry (DTI) for my new business name registration application. The online application was completed successfully and the application fee of P300 was paid through G-Cash. It really saves time, money and effort!
4. For ages now, I've been wanting to donate even just a small amount to UNICEF but maybe that desire is not so great that going to any bank or Bayad Center which accepts payments for such donation is always set aside. I'm glad to have finally accomplished the task through G-Cash. It feels great!
---------------------------
Well, for those interested about G-Cash, the following are some useful information. The following is taken from the Globe G-Cash website FAQs section.
What is G-Cash?
G-Cash is the brand new service that turns your cellphone into an electronic walleT and it’s a first from Globe!
With G-Cash, Globe and Touch Mobile subscribers to can easily and conveniently
1. send G-Cash both here and abroad
2. receive G-Cash and exchange it for cash
3. make payments just by texting
It’s fast, secure, and reliable, all made possible by the banking institutions and money transfer services you’ve come to trust over the years.
Non-subscribers can also send cash electronically to Globe and Touch Mobile subscribers through authorized G-Cash outlets.
How do I activate my G-CASH service?
First, a Globe or Touch Mobile subscriber should register to be able to cash-out their G-Cash at authorized G-Cash outlets or send G-Cash to another Globe or Touch Mobile subscriber. A subscriber doesn’t have to register to receive G-Cash. However, he must register to be able to cash-out or send G-Cash to another subscriber.
To register, send REG (4-digit M-PIN)/(Mother's Maiden Name)/
(FirstName)/(LastName)/(Address)/Tel No. with area code to 2882
The subscriber will then receive an acknowledgment receipt of the successful registration.
Also, it is important that the subscriber registers his real name and details as the information will have to match his I.D.
Are there any limits to the amount of transactions?
Minimum amount for person-to-person transfer is P1.00. However, minimum cash-out or cash-in transaction will depend on the outlet where you are cashing-in or cashing-out.
For Globe Business Centers, there is no minimum cash-in and cash-out amount. However, the fee for cash-in/cash-out transactions below P1,000 will be a flat P10.00 while for transactions P1,000 and above, the fee will be 1% of the amount being cashed-in/out (Ex. P10.00 for a P1,000.00 transaction). Maximum cash-in and cash-out at a Globe Business Center is P10,000.
Maximum amount for single cash-in, cash-out, or person-to-person transfer transaction is Php 10,000. A subscriber can accumulate only a maximum of Php 10,000 worth of G-cash in his wallet; thereafter he must cash-out or transfer G-cash to another person before he can accept more G-Cash. Maximum amount of cash-out or person-to-person transfer per subscriber per day, regardless of number of transactions, is Php 40,000. Maximum amount that can be transacted, regardless of number of
How do I claim my G-CASH?
You may go to a Globe Business Center or you may go to any G-Cash outlet which is authorized to do Cash-out (Please see attached list, rates will depend on each partner).
A. For Business Center
1. Fill up a G-Cash service form (name, amount to be cashed-out and mobile number of subscriber).
2. Present required identification to the frontliner (please see attached list of valid ID’s).
3. Subscriber pays processing fee (For amounts below P1,000 there is a flat P10.00 fee. For amounts P1,000 and above, 1% of amount will be the fee, for ex. P10.00 for every P1,000.00 being cashed-out).
4. Frontliner will write down a unique transaction code on the service form.
5. The business center will send a text message to the subscriber requesting to deduct the G-Cash from their wallet. The subscriber simply has to reply with his MPIN to confirm.
6. Frontliner will then print an acknowledgement receipt for the cash-out and an official receipt for the transaction fee.
7. Subscriber receives the cash. Note: Maximum cash-out is Php 10,000 (which is also maximum amount that a regular subscriber’s G-Cash wallet can hold at any given time).
B. For authorized G-CASH Outlet
1. Fill up a service form (ex. name, amount to be cashed-out and mobile number of subscriber).
2. Subscriber presents required identification to the frontliner.
3. Subscriber pays processing fee (this will depend on each outlet). He can either pay it in cash or include it in the G-Cash amount that will be sent to the outlet’s mobile phone no.
4. Frontliner will show outlet’s authorized mobile number to subscriber.
5. Subscriber sends the following message: and send to 2882+<10 digit mobile number of authorized outlet>
6. Subscriber receives the cash from authorized outlet. Note: minimum and maximum cash-out depends on each outlet.
How do I send G-CASH to a Globe or Touch Mobile subscriber?
Just send the following message: (amount to be sent) (M-PIN) (70 character message) and send to 2882+(10 digit mobile number of recipient. 70 character message is optional
How do I load G-Cash into my phone?
Just go to any Authorized G-Cash outlet which accepts Cash-in transactions. Show required identification to frontliner. Give the frontliner the cash plus the processing fee and the outlet will send the G-Cash to your mobile phone number directly.
Local non-subcribers
1. How do I send G-Cash to a Globe or Touch Mobile subscriber? Can I send to a non-Globe or Touch Mobile subscriber?
G-Cash can only be received by Globe Handyphone and Touch Mobile subscribers.
a. Just go to any Globe Business Center or Authorized G-Cash Outlet who accepts Cash-in transactions.
b. Fill up a G-Cash Service Form which will require you to give your full name, address and telephone number, your beneficiary’s name, address, telephone number and mobile phone number as well as the amount that you would like to send. Please make sure to present a Valid I.D.
c. Pay the Cash-in fee to the frontliner.
d. Frontliner will send the G-Cash to your beneficiary and give you an acknowledgement receipt for the transfer and an O.R. for the processing fee.
2. What if the G-Cash is sent to an expired number? Can my beneficiary get the amount? Can I get back the amount?
Please ensure first that the recipient of your G-Cash is an active number, and please advise your beneficiary to claim the G-Cash promptly. If the number you sent G-Cash to is expired, your beneficiary will have to go a Globe Business Center or Globelines Payment and Service Cetner to claim the remittance. You cannot claim back the amount from the cash-in outlet.
International non-subscribers
1. How do I send G-Cash to a Globe or Touch Mobile subscriber? Can I send to a non-Globe or Touch Mobile subscriber?
G-Cash can only be received by Globe Handyphone and Touch Mobile subscribers.
Just go to any Authorized International G-Cash Outlet who accepts Cash-in transactions (please see attached list).
Fill up a Cash-in Form which will require you to give your full name, address and telephone number, your beneficiary’s name, address, telephone number and mobile phone number as well as the amount that you would like to send. Please make sure to present a Valid I.D.
Pay the Cash-in fee to the frontliner.
Frontliner will send the G-Cash to your beneficiary and give you an acknowledgement receipt for the transfer and an O.R. for the processing fee.
2. What if the G-Cash is sent to an expired number? Can my beneficiary get the amount? Can I get back the amount?
Please ensure first that the recipient of your G-Cash is an active number, and please advise your beneficiary to claim the G-Cash promptly. If the number you sent G-Cash to is expired, your beneficiary will have to go to a Globe Business Center or Globelines Payment and Service Center to claim the remittance. You cannot claim back the amount from the cash-in outlet.
* For more information, visit the Globe G-Cash website FAQs section:
http://www.myglobe.com.ph/gcash/faqs.asp
BPI Direct Save-Up
The Bank of the Philippine Islands (BPI) introduced a unique way of encouraging Filipino wage-earners to save -- that is, through the BPI Direct Save-Up service.
BPI Direct Save-Up is an interest-earning Peso savings account that is linked to another Peso savings or checking account with ATM card.
- Save automatically from your account
- Save what you can, when you can.
- No initial deposit required.
- Enjoy higher interest rates.
- Plus, get FREE Ayala Life Insurance up to 10x your account balance
Its required monthly Average Daily Balance (ADB) is PhP 1,000.00 which is to take effect on the fourth month from date of opening.
Well, I gladly welcome this new service from BPI. Being a home-based freelance contractor, I have no fix monthly income and I don't have any of the benefits enjoyed by regularly employed individuals, so I must be wise in managing my finances. In doing so, BPI Direct Save-Up is definitely one very useful tool -- setting aside even just a small amount for the future is now automatically done for me.
To learn more about the BPI Direct Save-up service, just click here.
BPI Direct Save-Up is an interest-earning Peso savings account that is linked to another Peso savings or checking account with ATM card.
- Save automatically from your account
- Save what you can, when you can.
- No initial deposit required.
- Enjoy higher interest rates.
- Plus, get FREE Ayala Life Insurance up to 10x your account balance
Its required monthly Average Daily Balance (ADB) is PhP 1,000.00 which is to take effect on the fourth month from date of opening.
Well, I gladly welcome this new service from BPI. Being a home-based freelance contractor, I have no fix monthly income and I don't have any of the benefits enjoyed by regularly employed individuals, so I must be wise in managing my finances. In doing so, BPI Direct Save-Up is definitely one very useful tool -- setting aside even just a small amount for the future is now automatically done for me.
To learn more about the BPI Direct Save-up service, just click here.
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