Saturday, May 25, 2013

Ano 'yon?

Two weeks ago, I called Bank of the Philippine Island- New York where I opened my BPI account a year or so ago. I was asking if they could assist me in opening a Unit Trust Investment Fund (UITF) coz, according to the application form, a bank officer needs to sign prior to sending to their Makati branch. Guess what the woman I talked to told me?...... "Ano 'yon?"  I was shocked. UITF is a basic kind of investment and a banker doesn't know what I'm talking about? How can financial literacy reach millions of Filipinos? Even the people who works in the bank doesn't know what UITF is!

I wanted to put a part of my emergency fund in a UITF but I guess it won't be possible

Oh well.


  1. So, how did you eventually set it up? Im also an OFW,older than you but had just awaken to the fact that I need to save.haha!
    ive been reading a lot and I want to put in monies in UITF.
    I chanced upon your blog via your comment in Personal Finance blog. I wish I could exchange private messages with you over these stuff.

  2. Hey, I did not open UITF yet coz they really need you to go to their branch and my nearest BPI branch is in NY and it's 4 hours away from where I am so I really need to schedule an off from work.Saan ka ngayon? Let me know and I'll try and research it if meron bang BPI branch near you.

    Try researching about PhilEquity and FAMI. I open a mutual fund with them by just sending my documents. No need to go sa office nila. I'm not sure if its possible now coz most offices wants to see you prior to opening an account with them like Sunlife.

    I'll set up a separate email account soon sa blog ko. Sorry, I'm new to this blog thingy and I'm just posting for enjoyment.

    Thanks for dropping by. I'll update you.

  3. Thanks for replying.
    Yeah, I saw your latest 'how to' blog entry. I think I have few network in FAMI (just have to dig my contacts)but im not very positive on such avenue. I would like to do it through bank as I need to create financial footprints now. been away for 13yrs (used to be in middle east, now in southeast asia).
    siguro nga I just have to drop by in the BPI branch where I have an account. the thing with bank is they could be 'snobbish' sa mga tulad ko na hindi naman millions ang initial investment,you know what I mean.hehe.

    thanks again.will keep dropping by for your update.

    1. I opened my Mutual Funds by sending my documents directly to their main office. I did not go through any agents coz maliit lang kasi yung initial investment ko eh! 5,200 lang to be exact.

      Talk about snobbish bankers! That's why, as much as possible, I dont see them in person kasi ma liliit lang kasi yung investments ko then dinadagdagan ko lang.


  4. 5200 is php200k+, youre so modest to say na maliit un.hehehe.
    in most banks,php50k is their minimum investments. perhaps I would seriously consider FAMI and then have one with step is what I need to focus on right now.
    as ive said, we OFW need financial footprint,sort of reference for credit standing ba para in case you need bank facility for your further plans,you can make use of not talking of loans, but bigger picture than that.
    thanks & keep on blogging!


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