Use of POD for Dormancy Fee s

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BSP CIRCULAR NO. 498: Use of POD for Dormancy Fee s

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Title Supreme Court: Use of POD for Dormancy Fee s

Law: Bsp Circular No. 498

Decision Date: Nov 22, 2005

BSP Circular No. 498 mandates that banks must inform depositors of dormant account fees via registered mail or Proof of Delivery service at least 60 days prior to imposing such fees, ensuring transparency and proper notification.

proof of

delivery

registered mail

END