BANK SECRECY ACT

This is an act prohibiting disclosure of or inquiry into all types of deposits in any banking institution
including investments in bonds issued by the Philippine government and its political subdivisions
and instrumentalities.

R.A. 1405 considers deposits as absolutely confidential in nature

The Law was later extended to include deposits in foreign currency deposits (RA
No. 6426, 1972) and deposits in offshore banking units (PD No. 1246, 1977).

Deposits may not be examined, inquired or looked into by any person, government
official, bureau or office

It is also unlawful for any official or employee of a bank to disclose to any person any
information concerning deposits

PURPOSE of the Law:
To encourage people to deposit their money in banks and, thereby, discourage private hoarding
so that the banks may lend out the money and assist in the economic development of the
country. [Sec 1]

pwede po bang kwestyunin ang isang bank kung pano nalaman ng isa pang bank na may account ako sa kanya na na-attach sa kaso ko (defaulted cc holder)?

neron po ba kayong sample letter tungkol dito?

thanks po

there is an exception to the bank secrecy law which includes a court order to garnish.

lawddesign wrote:there is an exception to the bank secrecy law which includes a court order to garnish.

Sec. 2. 1 All deposits of whatever nature with banks or banking institutions in the Philippines including investments in bonds issued by the Government of the Philippines, its political subdivisions and its instrumentalities, are hereby considered as of an absolutely confidential nature and may not be examined, inquired or looked into by any person, government official, bureau or office, except upon written permission of the depositor, or in cases of impeachment, or upon order of a competent court in cases of bribery or dereliction of duty of public officials, or in cases where the money deposited or invested is the subject matter of the litigation.

dun po sa mga nakared color, parang hindi naman po dun magpofall yung sa case ko (cc defaulted)... so by court order pa rin po ba?

thanks

ano magandang case sa isang bank na ang employees nila nagbibigay ng details sa negative data record ng isang depositor nila sa isang retired employee ng bank na yun, at yung retired employee na yun pinopost sa facebook account nya regarding sa mga negative data record ng kaaway nya? pwede ba ako magreklmao sa bank tapos humingi ng damyos? please help me dahil sobrang kahihiyan inabot ko sa posts nya. thank you

help please