Proof of Delivery (POD) Service of the PhiliPost and Other Mail Couriers as Alternative to Registered Mail with Return Card
CIRCULAR NO. 498 Series of 2005
Subject : Proof of Delivery (POD) Service of the PhiliPost and Other Mail Couriers as Alternative to Registered Mail with Return Card
Pursuant to Monetary Board Resolution No. 1392 dated 27 October 2005, the Manual of Regulations for Banks (MORB), is hereby amended as follows:
Section 1. Paragraph (e) of Section X263 of the MORB is hereby amended to read as follows:
x x x
"(e) In the case of charges and fees for dormant accounts or dormancy fee, the period of dormancy as prescribed under Subsec. X163.12 shall be properly disclosed among the terms and conditions of the deposit, and that the depositors shall be informed by registered mail with return card OR PROOF OF DELIVERY (POD) SERVICE OF THE PHILIPPINE POSTAL CORPORATION AND OTHER MAIL COURIERS on his last known address at least sixty (60) days prior to the imposition of dormancy fee."
This Circular shall take effect fifteen (15) days after publication in the Official Gazette or in two newspapers of general circulation.
FOR THE MONETARY BOARD:
AMANDO M. TETANGCO, JR. Governor
More in BSP Circulars
- Derivatives Guidelines for Non-Bank Financial Institutions with Quasi-Banking Authority(BSP Circular No. 668)
- Amendments to Section 921/921Q of the Manual of Regulations for Banks (MORB)/ Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) on Customer Due Diligence, including Guidelines on Electronic Know-Your-Customer(BSP Circular No. 1170)
- Amendments to the Relevant Regulations on Foreign Currency Deposit System - Phase 2(BSP Circular No. 1134)
- Amendment to Regulations on Single Borrower's Limit(BSP Circular No. 712)
- Amendments to the provisions of Subsections X268.3 and X269.4 of the MORB covering the guiidelines on the BSP Rediscounting Facility(BSP Circular No. 684)
- Submission to the Department of Economic Research (DER) Consolidated Report on FX Assets and Liabilities (FX Form IA)(BSP Circular No. 284)
- Disclosure of Domestic Remittance Charges by All BSP-Supervised Entities with Domestic Remittance Transactions(BSP Circular No. 952)
- Section X383 Other Limitations and Restrictions of the new Manual of Regulations for Banks(BSP Circular No. 331)
Want an analysis of this document?
Ask ASG Legal AI to summarize it, compare it with other rulings, or explain how it applies to your situation — it researches from this same library.