If you've seen the youtube documentary on the 2007-2011 global economic crisis. .. then you may recall foreign workers in Dubai and .... expats in several nations... suddenly 'up the river without a paddle'.
I myself lost it all in the NYSE and my US bank going bankrupt and taking my 401k with them (invested in the banks stock)
... so... I would like to open a Vital 'personal security' topic about each of the banks in the Philippines.
To start, I would advise against choosing a PRC Mainland-China bank in the Philippines; every single expert in EU and USA have advised of 'impending bubble bursting' in PRC's banks in the future. ((China Bank, Agriculture Bank of China, etc etc. ))
TOPIC FOCUS: Share what you have researched about YOUR Filipino bank... as to it's liquidity, debt ceiling, and other factors reflecting the banks' ability to 'ride any NEW regional downturn' and still remain open and solvent.
For myself, I have already provided a cautionary point, as I do have 11 years first hand experience with banks, lending, and the upcoming real estate and banking bubble due to burst in mainland China.
So.... due diligence... share the wealth... so we each and all can 'have secure bank accounts' in the Philippines.
Thanks!