Minimize wasted time at Philippine Banks especially if you are a Filipino based abroad
Make sure all your SPAs and other Documents Specify all Details (Pesos Series #6)
No matter what Filipino bank I go to, the managers seem to have an eye for specificity. They do not miss a missing middle name or any other detail. This might be a good thing for any auditors, but it is very inconvenient if you are a Filipino Balikbayan who is trying to finish banking tasks for yourself or your relatives. In this post, I will share what happened in three different banks (without mentioning their names) when my paperwork was too general and lacks specificity.
Why the SPA given to me by my Son was not accepted
My son gave me a general Special Power of Attorney (SPA) which has an apostille mark from our state. There, he authorized me to represent him in any dealings with any Philippine bank. When I presented the SPA in the bank, they did not recognize it. Why? The bank account number was not inserted on the SPA. It was not enough that I specified the bank name. It was not enough that my son gave me blanket authority for that bank and any other bank and do any transactions for him. They needed specificity on the SPA. Of course I complained and emailed customer service. The next day, the manager was ready to face me and respectfully said no again. I just had to let it go and make sure next time, all my SPAs for banks have specific details.
It happened again with a Joint Account
I had a joint passbook savings account with my late brother. As of this writing, I haven’t gotten the rest of our pesos because I did not specify the account number in my Affidavit of Self-Adjudication. The bank wanted me to find the original notary, insert the account number and let the notary and I countersign the insertion.
Letter of Introduction with a missing Middle Name
Lastly, always check your name. I did: ✅ Sheila spelled with an “e” before the “i.” ✅ The rest of my name were also spelled right. Everything seemed right in the Letter of Introduction (LOI) a government agency gave me to open a bank account. Well, not everything was right. The bank manager told me they cannot accept the LOI because my Middle Name was inserted on the First Name section. I honestly didn’t see it. I have to request a corrected copy.
Lessons Learned
I wasted precious travel time and resources because of seemingly innocent generalities in my paperwork. Filipino bank managers did not let it pass. Some of they had to call their legal department or head offices to find out what to do next. They are extremely detailed minded, making sure all the information you write on their forms correspond to all the paperwork or identification you present. Thus:
write all the bank details in any SPAs you carry like the bank name, account number and what type of account.
make sure all names are spelled correctly
if the paperwork you carry specifies the First, Middle and Last names, make sure it corresponds with you IDs or passport
check any other details
Next, I will share how a validated deposit slip helped me move forward with my SSS filing for benefits after the death of my brother.