Imagine finding your life’s savings taken away by a fire, flood, or snatched from your bag. That hopeless, sad feeling is what Adonis Buemia, a 70-year-old ice delivery man, felt when he saw his Php50,000 savings eaten by termites.
According to the Bangko Sentral ng Pilipinas (BSP), the single dad, not knowing what to do, posted a plea for help on Facebook, putting his pains in a comment to a local TV station program. The program reached out to the BSP, and thankfully, the BSP got in touch with Adonis to get his savings back.
Based on BSP's media release on its website, Adonis has been a delivery man for 30 years, living off a Php300 daily salary yet managed to save Php100 of his earnings every day.
Through his saving and spending smarts, Adonis took care of his needs and the needs of his differently-abled child, purchase a brand new tricycle, and even buy a house. (Teach us your ways, please!)
Adonis kept his hard-earned cash in a cabinet at his home. "Unfortunately, his savings almost disintegrated in the cabinet after termites feasted on them," BSP shared.
If you have damaged bills (hopefully without termite infestation), you can replace your damaged bills if they fit the following regulations:
60% or 3/5th of the bill is still there
Parts of any of the two facsimile signatures must still be visible
The security thread must be complete unless caused by “fire, insect, or any form of unintentional mutilation.”
With his life savings replaced in full last August 11, Adonis has hopefully chosen a safer place to stash his cash, or perhaps opened an account with a trusted bank that will treat him with the same kindness and respect that BSP showed him.
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Adonis is like many Filipinos who still keep their cash at home and not at the bank for various reasons. One of them is the documentation required like valid identification.
Thanks to Adonis' story, the BSP took the opportunity to share details about the Basic Deposit Account (BDA).
On a Facebook post, BSP explained, "BDAs are affordable, no frills and easy to open that even those without valid IDs can apply using alternative documents or via the apps of selected banks. These deposit accounts only require an opening deposit amount of P100 or less and have no maintaining balance nor dormancy charges, but may earn interest for depositors."