Are Digital Banks Safe?
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- Опубліковано 10 бер 2024
- In this video, we delve into the safety of digital banks, exploring a timely topic given the rise of online banking options. Digital banks are increasingly perceived as the future of banking, offering convenience, accessibility, and often lower costs compared to traditional brick-and-mortar institutions. However, as with any financial service, safety remains a paramount concern.
According to recent insights from the Bangko Sentral ng Pilipinas (BSP), digital banks in the Philippines are still on a trajectory towards profitability, with only a fraction currently showing signs of success. With the BSP projecting a timeline of five to seven years for digital banks to become profitable, questions regarding their safety naturally arise.
In the context of safety, it's essential to consider regulatory oversight and depositor protection. While digital banks may offer innovative features and competitive interest rates, it's crucial to deposit funds only within the limits insured by the Philippine Deposit Insurance Corporation (PDIC). This ensures that your deposits are safeguarded in the event of bank insolvency.
Join us as we navigate through the nuances of digital banking safety, considering factors such as regulatory oversight, market competition, and the impact of digitalization on traditional banking practices. Stay informed and empowered in your financial decisions by tuning in to this insightful discussion.
⚠️ Strong Disclaimer: Individual Opinion, Not Professional Financial Advice ⚠️
Before we proceed, it's essential to emphasize that the information provided in this video is solely based on personal opinion and analysis. I am not a certified financial advisor or a financial professional. Therefore, it is crucial that you understand and acknowledge the following points:
1️⃣ Personal Opinion: The content of this video reflects my individual opinion and interpretation of the market conditions, economic trends, and financial news discussed. It should not be considered as professional financial advice or a recommendation to make any specific investment decisions.
2️⃣ Conduct Due Diligence: It is your responsibility as a viewer to conduct thorough research and exercise your own judgment when making financial decisions. Consider consulting with licensed financial advisors or professionals who can provide tailored guidance based on your specific circumstances.
3️⃣ Dynamic Financial Landscape: The financial landscape is highly dynamic and subject to rapid changes. Market conditions, regulations, and economic factors can evolve, potentially altering the implications of the information provided. Therefore, it is crucial to stay updated and perform your due diligence regularly.
4️⃣ Risk and Loss: Investing in stocks or any financial instruments carries inherent risks. It is possible to incur losses or experience adverse outcomes. Please be aware of the risks associated with investing and carefully evaluate your risk tolerance before making any investment decisions.
5️⃣ Independent Decision-Making: The ultimate responsibility for any investment decisions rests with you, the viewer. Consider your personal financial goals, risk appetite, and seek advice from professionals as needed, ensuring that any decisions made align with your individual circumstances and financial objectives.
Remember, the information shared in this video is for educational and informational purposes only. It should not be construed as a substitute for professional financial advice. Always exercise caution, diligence, and independent judgment when managing your investments.
⚠️ It is strongly recommended that you do your own due diligence and consult with qualified professionals before making any financial decisions. ⚠️
Marami pong salamat!
It's great to hear your thoughts, Kuya Jon! Indeed, Digital banks are safe, especially the ones regulated by BSP, like UNO. Just remember not to exceed the PDIC insurance limit! It's this assurance that makes opening an account with digital banks like UNO so appealing - you know your money is secure as long as you follow their policies. :)
thank God po try ko dn gamitin
@@kuyajon yay! Sna po once ma-try mo, you can post an in-depth review about UNO.
Thanks sir
thank God
Ok nmn yung Uno.. nag time deposit ako.. 3 months 3 months lang.. rolling ko.. kaso binago yung interest rate.. dating 6.50% ngayon mababa na.. ginawa nalang nilang 1 yr ang 6.50%
ohh tatty ko magbukas sa mga yan
ty ty
Kuya jon, baka pede ka gwa ng GSMI stock review-nasabi mo kasi na yung view mo dito eh pang long term diba. Can you explain that? Sikat na stock nmn ang GSMI eh
yes nasa pipeline sya mga fave stock ididiscuss ko ulit. pero in short, ganda ng ROIC... nakasetup to compound long term
What if may issue ka sa digital bank, san ka pupunta? reliable po ba customer service nila?
Good question alamin po ntn
CIMB, Seabank and GoTyme ginagamit ko for savings. Mostly nasa CIMB aking EFs ngayon kuya Jon. Had bad experience sa CS ng Maya kaya di ako naglagay dun.
Wow salamat po, checkko pero baka gotyme ako
@@kuyajon 4% pa na sila ngayon from previously 5% ata kuya jon if i'm not mistaken. Kaso maganda rewards system nila sa points
@@ranbanga904 hindi naman important bumaba onte basta better pa dn than trad bank
Salamuch ha
@@kuyajon welcome kuya jon! Pwede din kasi mag stash sa GoTyme just like Maya.
Im using UNO bank for few mos already.. So far, so good 👍
sali ako, pipili ako. pero baka gotyme may grocery samin dito un gamit
@@kuyajon maganda yan for emergency fund..saka sa unobank kc everyday yung interest kaya nakakatuwa tignan😄
@@texwinter7330 check natin thx much po
Maya at Seabank daily interest po
Gotym kasi monthly ang interest eh
Safe po do far wala naman akung issues
I'm using ofbank and uno bank
Try ko apply
One of the famous is CIMB bakit wala sa na search mo Sir. Malaysia po yata original nun pero partner yan ng GCash sa Gsave nila. Malaki magbigay ng interest nyan. Meron ako 15k now dyan at plan ko mag dagdag din kasi laki ng interest. Meron din ako OFB, Landbank din kasi yan pero tama ka kaliit ng interest pero ginagamit ko lang naman ng pagbili ako Retail Bond ng government.
thank you sa suggestion, newbie pa ako
@@kuyajon master ka naman namin sa Stock market lalo sa Dividend investing Kuya Panot! I suggest CIMB kadali transactions thru GCash, magugulat ka sa laki ng interest may free insurance pa every month.
@@kuyajon master ka naman namin sa Stock Market lalo sa Dividend Investing Kuya Panot! I suggest CIMB anlaki ng interest tapos may free insurance pa every month. Tapos dali pa ng transaction kasi ang in and out is thru GCash. Pero kung interested ka sa Retail Bond ng government sa OFB ka Andali makapasok sa mga bonds taas ng rates tapos quarterly bigayan ng dividends nila subok pa kasi Landbank nag hahandle ng transactions.
tonik ako and maya,
gusto ko dn mag bukas e, dun ko ipark emergency money
@@kuyajon yes emergency fund ko po andun kuya 🥰
@@charmeeee SAYANG e. sa BPI di gumagalaw baso e. hahahaha
Ang pagkakaalam ko Kuya Jon sinubukan ng ING pero di rin nagtagal.
baka pag may established business model na, magiging very profitable ang digital
Hi kuya jon
halu
Half ng emergency ko nasa digital bank so......
apir, maglilipat na din ako
im new to GoTyme, Then 6 months sa MAYA
salamat mamili ako
Sayang Gotym from 5% to 4% n lang
Uno, maya, tonik, union, my total n 822k ako na nkadeposit 😅, prang kinabahan 2loy ako 😅
per bank namam ata insurance
500k per bank ang PDIC insured
minus 20% withholding tax.
LAKI PALA
So ung Gotym na 4% p.a inclusive of tax is just 3% sobrang liit n lang :(
Rcbc diskartech ser hnde mo sinama 6.5% p.a
thank you sir, open na lang tau account mataas jan
UnionDigital lang may 29.14 percent Gross Non-performing loan and rest 4 have less than 5 percent gross NPL. I will not trust Union digital kahil si union bank pa ang may ari.
Thank u baka gotyme ako
No it's not safe po.
why? ano mga concerns