BSP Rules on Deposit Pick-up Services

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BSP CIRCULAR NO. 118: BSP Rules on Deposit Pick-up Services

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Title Source: Supreme Court: BSP Rules on Deposit Pick-up Services

Law: Bsp Circular No. 118

Decision Date: Dec 26, 1996

BSP Circular No. 118 establishes regulations for deposit pick-up services by banks, requiring a minimum deposit threshold, stringent qualifying criteria, and security measures, including the use of armored cars and armed guards, to ensure the safe collection of client deposits.

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