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What’s the minimum amount you can deposit to your COL Trading Account?

What’s the minimum amount you can deposit to your COL Trading Account?

There are basically two options for you to fund your COL Trading Account.

  • Online Banking via Merchant Payment
  • Over-the-Counter via Merchant Payment
Note that these are only applicable to the three banks: Bank of the Philippine Islands (BPI), Banco de Oro (BDO) and Metrobank.

But what’s the minimum amount you can deposit to your COL Trading Account?
The fact is that you can add to your COL trading account any amount you want, but I just found out below new regulation of Inc regarding funding that we as clients should be aware of.

*Service Fee for deposits less than Php500.00
     Please be advised that effective July 16, 2012, deposit/merchant payments of less than P500 per transaction made through our partner banks will be      required to settle the service fee charged by respective banks. The service fee varies depending upon which bank you choose:

     Over the Counter (via bank’s merchant payment system)

     Banco de Oro – Php15.00
     Bank of the Philippine Islands – Php20.00
     Metrobank – Php25.00

     Online Banking

     Banco de Oro – Php10.00
     Bank of the Philippine Islands – Php10.00
     Metrobank – Php4.00

     (The above rates may change depending on the charges rendered by the bank)
     Please be guided accordingly.

That means if you’re thinking of adding small amounts less than 500, you better hold it first and add it up to your next funding activity until it reaches the minimum 500.

As investors, we should also find ways on protecting our money and not just finding ways to grow it; and this reminder is one way of our asset protection.

There you go! Be guided! Happy Monday!

Have fun investing (and funding with at least Php500)!

Author: Omeng Tawid

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