Exchange rate

[joebloggs]

well i would rather keep what little cash i have in secure £'s than the php, i wonder if the philippine gov would or even could bail out any struggling banks there, while here the gov just gives them a loan from the taxpayer

[fred]

well i would rather keep what little cash i have in secure £'s than the php, i wonder if the philippine gov would or even could bail out any struggling banks there, while here the gov just gives them a loan from the taxpayer

The government PDIC guarantee 250,000 Pesos if a bank on their list goes under.
You can place that amount in different accounts such as a joint accounts etc which will be covered as a separate acct.
I have not heard of an instance when this guarantee has failed to pay out.

[andypaul]

The government PDIC guarantee 250,000 Pesos if a bank on their list goes under.
You can place that amount in different accounts such as a joint accounts etc which will be covered as a separate acct.
I have not heard of an instance when this guarantee has failed to pay out.

Do many Phill banks fail? I think i read about one in trouble when over once, but don't know if it sorted out or not as their are so many over there i only know the big names.