My SeedIn Review

During ECQ caused by COVID19, we are all stuck at home to keep safe from the spread of the virus. For more than 6 months of almost no regular work, I am stumbled back to the thought of "earning from home" and "let my money work for me" thoughts.

So, apart from learning how to invest in stocks, crypto, and the likes, I wanted to invest into something with less risk of losing money, something other than stocks! Other than Mutual funds and UITF's, I have came across this crowdfunding app called SeedIn.

What is SeedIn?

SeedIn is Southeast Asia's leading business financing platform where local businesses seeking short term-term financing connect with business entities seeking short term investments. (source: SeedIn FAQ). 

To simplify, SeedIn is an app where local businesses (SME, etc.) who seeks additional capital for their business can borrow money from SeedIn investors, other than the banks or other financial institutions who offers the same. The difference is that, SeedIn takes their fund from investing public.

To illustrate:

The interest gained from the borrowed amount is credited to the investor's account on a monthly basis, either balloon payment or equal repayment. SeedIn though have taxes, and risk management fee of 10% of the interest gained.

My Account

I have opened an account with SeedIn last Feb. 29, 2021 and deposited a small amount yet to see if it's actually earning.

Request for Credit Limit Increase - RCBC Credit Card

I got my RCBC Credit Card Visa last April 16, 2015. My credit limit is 15,000. I usually pay my purchases before the due date and in full. I do not pay the minimum due because I hate the finance charges.

It's a great help for me as I don't have to pay everything in cash. I applied for a supplementary card for my sister. Lately, our combined purchases took all my credit limit so I really feel the need for a higher credit limit.

My BDO Credit Card Application

I applied for a BDO Standard Mastercard with following supporting documents: Passport ID, TIN, ITR, billing address, 3 months payslip (25k/month).

Few days after I received their call for confirmation, I checked their website for the status. Here is it,

Whew! Frustrating, isn't it?

FYI, I don't have any credit cards yet, I have a landline at home and postpaid line. Why did I chose to apply for BDO? Because I have a kabayan savings account with it, UITF and cash card. I feel comfortable having a card with them but unfortunately, it's not for me.

Maybe some things are not meant to be. hehe

Related topics:
How To Open A COL Account
How To Withdraw Funds from COL Financial
BDO New UITF Equity Products

BDO New UITF Equity Products

BDO has launched new UITF equity products namely BDO Focused Equity Fund (BDOTFEF) and the BDO Sustainable Dividend Fund (BDOTSDF).

Fund Facts:
BDO Focused Equity Fund:

BDO Sustainable Dividend Fund:

It's good to invest as early as now since the value of your money is higher compared to their existing equity. On the other side, this new UITF's are not yet under the EIP program.

For your additional info you can also visit this website: www.bdo.com.ph and www.uitf.com.

Wealthbank Kiddie Savers

I really wanted to save for my little baby. Force savings in a sense. So, I made research on ITF (In-Trust-For) Accounts / Kiddie Savings Account from most trusted banks like BDO, BPI, Metrobank, etc. Yes, they offer kiddie savings account but they have this very low interest per annum; for around 0.25% and lesser and some require big amount to open.

There's this Wealthbank near our place. I inquire for their kiddie savings. They have this Kiddie savings account with an opening amount and maintaining balance of PHP500 and comes with a passbook. It has an interest of 3% per annum. Interest starts if your balance reaches PHP 1,000. Not bad isn't it? This is an account for children below six (6) years old, after that the account will turn into a regular savings account.

Since this is a kiddie savings, you are only allowed to withdraw four (4) times per quarter, penalty of PHP100 per withdrawal in excess.

Requirements are:

-photocopy of two (2) valid ID's

-billing statement

-photocopy of Birth Certificate of your child (bring original for verification)

-1 pc 1x1 ID (or 2x2 ID Picture)

Wealthbank is owned by Metro Gaisano group, a local bank. Maybe, in the years to come if it will prosper and maybe the interest rate may change.

It's always beneficial to read and research.

How to Verify your Paypal Account using Unionbank EON Card

Here are few simple tips in verifying your Paypal account with Unionbank EON Debit Card.

1) Go to www.paypal.com and log in to your account.

2) Click that small button Get verified just below your name or you can go to the profile menu, choose add / edit credit card, then click add a card. Enter your EON debit card details then click submit.

3) Once you have successfully added your card, Paypal will charge $1.95 in your account as processing fee for verifying your account which will be refunded 24 hours after the verification  process (if your account was approved). In my case Php 100.00, see below.

Note: Make sure that your name in your Paypal account is the same with your EON card because if not, the $1.95 charge will not be refunded.

4) Paypal will send you that verification code within 2-3 banking days. You should log-in to your EON account and get the code from your mini statement.

5) Log back in to your Paypal account. Click the Confirm my debit card or credit card, enter  the 4-digit code, once approved your Paypal account is now verified.

Confirmation will look like this:

Congratulations! You can now send and receive money using Paypal.

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