Panic Withdrawal of Money: Is that for real?
By Shavkat
@Shavkat (137193)
Philippines
June 10, 2017 9:07pm CST
When the Bank of Philippine Islands had their share of glitches in their system, I wasn’t able to withdraw some money. They need to stop the online transactions because of the doubled debit and credit issue. It takes more than 24 hours before I was able to withdraw money from the ATM. I am not being silly but I need to withdraw a huge amount of money for my monthly budget. It was a panic withdrawal of money for me. I am anticipating not to be troubled having over the counter transaction with the bank.
“Did you ever try a panic withdrawal?”
Image Credit: www.hellodoctor.co.za
10 people like this
10 responses
@ridingbet (66857)
• Philippines
11 Jun 17
i and my big brother have a joint bank account (time deposit) at BPI. we do not have ATM or bankbook, so when my brother told me to check our account, i told him our money is safe, and to make him more relaxed, i went to the bank. yes, our account is safe.
3 people like this
@Shavkat (137193)
• Philippines
12 Jun 17
@ridingbet I think the bank will do their best to regain their reputation about this. We don't need to worry about
1 person likes this
@ridingbet (66857)
• Philippines
12 Jun 17
@Shavkat so does our account, it is safe and untouched.
1 person likes this
@AkoPinay (11544)
• Philippines
11 Jun 17
I don't because I keep minimum balance only 
I open bank accounts for TRANSFER purposes only I have no extra cash in any bank
If I have money I wont keep huge amount in one account. Will keep funds in different banks i.e P50k in HSBC, P50k in Chinabank, P50k in BDO, P50K in Visa debit card, P50k in MasterCard, etc. it's better to always have back ups. 
I open bank accounts for TRANSFER purposes only I have no extra cash in any bank
If I have money I wont keep huge amount in one account. Will keep funds in different banks i.e P50k in HSBC, P50k in Chinabank, P50k in BDO, P50K in Visa debit card, P50k in MasterCard, etc. it's better to always have back ups. 3 people like this
@hereandthere (45651)
• Philippines
11 Jun 17
when you win the lotto, you can raise it to 500,000 in each bank.
1 person likes this
@allknowing (130067)
• India
12 Jun 17
When we had this demonetization issue I had that feeling too but there were restrictions on how much one could withdraw. I did not go to any ATM but did that through cheques.
1 person likes this
@allknowing (130067)
• India
12 Jun 17
@Shavkat Anything can happen in the digital world.
1 person likes this
@Shavkat (137193)
• Philippines
12 Jun 17
@allknowing I agree. It will happen and there is no perfect software.
1 person likes this
@rachz_kisses (3798)
• Philippines
11 Jun 17
I don't blame them-- BPI depositors. I feel their pain. The inconvenience that the bank did for the past few days was enough for the depositors to decide to withdrew their money. "Better to act now than sorry", as one of the BPI depositors said.
2 people like this
@rachz_kisses (3798)
• Philippines
11 Jun 17
@Shavkat Yup. That's one big problem if it ever happens again.
1 person likes this
@Bodyandbrain (13797)
• Gurgaon, India
11 Jun 17
I hope you get your work done soon.
1 person likes this
@1hopefulman (45123)
• Canada
12 Jun 17
I haven't experienced that in Canada yet. I can visualize the panic it would cause. I hope things settle down where you are and get back to normal.
1 person likes this
@hereandthere (45651)
• Philippines
11 Jun 17
what will happen to those who used/spent the money that was accidentally added to their account? would they have to pay for it?
1 person likes this
@manasamanu (3746)
• Bangalore, India
11 Jun 17
No I have only a minimum balance in my account, and if I do find any trouble the bank is very near to my house(walkable distance) I'll go and check out.
1 person likes this
