When will real Online Banking happen here?
I wonder when online banking here in the Philippines will become real online banking… By that, I mean having the capability of having interbank transfers and the likes. As of now, only one bank supports that - Unionbank of the Philippines. However, the problem is that if you transfer funds to a different bank, the receiving bank imposes a charge. I find this charge that is imposed by the receiving bank to be totally silly. They got the money, why do they charge for it? Aside from Unionbank, I know of no other bank here in the Philippines that supports interbank transfers. Banking in the Philippines is too backward. If I need to move money from one bank to another, I will still have to travel to one bank to another and make the deposit myself - over the counter or via ATM. Still tiresome to do for a person like me who performs all my business online.
Anyway, I do hope that the Philippines catches up with this…
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