P2P on Binance: Appeal Process (Actual Experience)

It has almost been 5 months since I started trading with Binance. I don't usually use P2P, I use coins.ph instead to cash in. I recently decided to cash out. Since in coins.ph there will be conversion fee, I decided to cash out thru P2P by posting a Sell Order. Since I've decided to do P2P, I've read details on the how to do it and the things I should avoid and be careful about.

Someone bought me around Php3,000.00 worth of USDT (59.12 USDT). The buyer marked the order paid or he clicked "Transferred, Next" so it will appear to me the release crypto button.

He choose Paymaya but I did not receive confirmation from my Paymaya account. To double check, I opened my account to check the transaction. Unluckily, I did not receive any payment and the buyer, I keep on chatting he is not replying.

So, I make an appeal to not release the crypto automatically, since as per Binance policy, they will release the crypto in 2 working days.

"If the buyer paid, but the seller did not receive the payment, Binance customer service agents will contact the seller to release the crypto within 2 working days. If the crypto hasn't been released within the prescribed time, Binance customer service agents will forcibly release the crypto. If the crypto cannot be released normally, the seller needs to contact customer service to communicate, if she/he hasn't contacted, it will be considered as payment was received."

Source: P2P Handling Rules, Binance Appeal Process

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.

How to Pay your Philam Life Insurance Thru Credit Card

Since COVID19 and with restrictions in going in and out elsewhere. I have been planning to pay my Philam Life Insurance thru credit card as it is more convenient to me than going to the banks. Luckily, Philam updated their website allowing us to pay our insurance thru it.

Without much ado, here's how.

1. First you need to have an account with philam. You may sign in here or sign up if you don't have an account yet. Here's their official customer portal:

Why Should You Get An Insurance (Part1)

     We Filipinos are not financially well off. Most of us are average income earner, many are poor and few are really rich. But I believe everyone has the right to become rich, or at least be financially stable. Sadly, only few are willing to explore and venture out.

      In fact, there are many vehicle to alleviate our income. I will share to you some of my knowledge on how to grow your extra cash higher than bank rates. But of course I cannot promise you, you'll get rich in an instant. But at least you are aware of what to do when you have extra cash. There's nothing you can lose. KNOWLEDGE IS POWER.

Century Pacific Food, Inc (CNPF) - IPO

CNPF: One good catch!

Largest canned food producer in the Philippines. CNPF is the largest producer of canned foods  in the Philippines whose brands have established market-leading positions. The company itself was incorporated on October 25, 2013 and inherited its various businesses from the Century Group. The company has four main business segments: canned and processed fish, canned meat, dairy and mixes, and tuna export. Following the company’s IPO, the Po family will own approximately 89.7% of CNPF through their whole ownership of CNPF’s parent company, Century Canning Corp.

Portfolio of market leading brands. CNPF carries multiple brands across its business segments. It is the market leader in canned tuna with a dominant 87% market share. The company also has leading market share in corned meat (43%), luncheon meat (26%) and vienna sausage (28%). Among its top-selling brands are Century Tuna and 555 for canned and processed fish, Argentina and Swift for canned meat, and Angel and Birch Tree for canned and powdered milk. CNPF also exports private label tuna products as well as some of its branded products overseas. 

IPO priced at Php13.75/sh. For its upcoming IPO, CNPF will offer up to 229.7Mil new common shares at Php13.75/sh. At this price, the company will be able to raise up to Php3.1Bil in gross proceeds with its market capitalization reaching Php30.7Bil. The bulk of proceeds from the offer will be used for the payment of financial obligations. The company will use a portion of the proceeds for capital expenditures to increase production capacity and cost efficiency, for working capital and for potential acquisitions. 

Multiple avenues for growth. CNPF will continue to develop its product portfolio, with new brands and acquisitions driving growth. The company also plans to expand its distribution network with particular focus in Visayas, Mindanao and other underserved areas. Finally, CNPF plans to increase the number of partners for its private label export business as well as enter into more distribution agreements with retailers in the US to export its branded products.

Significant margin improvement from backward integration. CNPF plans to use a portion of its IPO proceeds for the construction of a tin can manufacturing facility. According to CNPF, packaging costs currently represent 17% of total production costs and the tin can facility is expected to reduce these costs by 15% to 20%. The factory is expected to cost Php457.6Mil and is scheduled to be completed by 3Q14.

Source: COL Financial

COL Financial Technical Analysis

One thing I like more with COL as my broker is that they have many ways of presenting their market analysis. I like their Bull's eye presentation. Very easy to understand and very helpful for starters. If you have a COL account, I know you can access this one.

Well, as of April 7, 2014. Here is the Bull's Eye Analysis of COL.

   Source: COL Financial

I am planning to buy CEB (Cebu Air, Inc), but seeing the trend. I gotta think about it and wait.

Happy Investing!

Financial Management & Awareness: Life Cycle of A Man

CAREER YEARS (20-30 yrs old) - This is the time where you are working already, generating income. This should be the right time for you to save as much as you can and the best time to start preparing for the future. But most don't and mismanage your money.

FAMILY YEARS (31-50yrs old) - This is the time that you will get married, buy your own house and lot, have your own family and send your kids to school, then colleges. By this time, you have limited time and slim chances to save due to responsibilities and expenses. But life will not end here...

and here comes PHYSICAL DETERIORATION YEARS (50-60 yrs old) - This is the time when your body slowly deteriorating and get sick. You may have no jobs at this age. And what's the problem here? Our capability to earn income slowly diminishing but medical expenses are increasing..

Last stage is RETIREMENT YEARS (60 yrs old up) - This will depend on what you have done from 20-60 yrs old. If you have prepared this, you may retire comfortably and playing with your grandkids. But if not, you may find yourself still working not because you want it and enjoy it, but because you need to...

People don't plan to fail. They fail to plan.

Save and invest as early as you can and as much as you can.

It's not about how much you earn. It's about how much you keep.

PS I have read this article over the internet and I just thought of sharing this. Let's be financially healthy.

Pag-ibig Online Payment Facility, how reliable?

Last year, I was in Pag-ibig to apply for calamity loan. I saw their poster about online payment options using a credit card available in their website. So, I find it convenient since my fiancee was abroad. Curiosity wise, I tried it last December. I paid my fiancee's contributions for November and December 2013.  Here's the proof:

(sorry, I have to masked important details)

After the payment, I called Pag-ibig Cebu North (412 2191) to ask them when can I follow-up the payment. The CSR told me to call after 3 days. To be safe, I called their office back after 4 days. When I try to ask the CSR if the payment has been posted, she told me that she cannot open the details since it is POP (PAG-IBIG OVERSEAS PROGRAM) and that I have to contact their Head Office.

I emailed their head office about the concern and sent them the proof of my payment. At first, they responded my email immediately (within 24 hours). I receive the next email stating the last contribution made by my fiancee which is April 2013 which is not as expected. Whew! I emailed them again that I wanted to know if the payment via their online payment facility has been posted to my fiancee's account, up until now I receive no reply.

Now my next option is to pay over the counter since their online payment facility is not that reliable as of the moment. Too bad.

Related topic/s...
My Pag-ibig Online Payment Rebounce

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.

Money Talk: How To Withdraw Funds from COL Financial

The first thing I ask prior to investing in the Philippine Stock Exchange through COL Financial is how to withdraw my funds.

So, here is it:

Step 1 - Fill out the withdrawal form. (Download here)

Step 2 - Send your withdrawal form thru:

• Fax: 634-6958 / 687-5459
• Email: withdrawals@colfinancial.com.
• By standard mail to their address: 

  2403B East Tower, Philippine Stock Exchange Centre,
  Exchange Rd. Ortigas Center, Pasig City 1605 Philippines

You can call their telephone number (636-5411 local 184) to track your withdrawal request.

Step 3 - You can pick up your check in their office or you can have it deposited to your bank account. Usually it takes 2-3 banking days if you choose to deposit it to your bank account. If you submit your form to their office before 11AM, you can get the check in the afternoon.

But since you are investing, it is better not to withdraw your funds to grow it bigger and you can retire a millionaire :-). Remember the 4 Golden Rules in Investing.

Important reminder: You can only withdraw amount from your account if it has stayed there for 3 days. Meaning if you sell your stocks now, you have to wait for three days before your request for withdrawal will be process. Then another 2-3 days if you want it deposited to your account.

Related topic/s...
How to Open a COL Account

Next on topic...
My COL Account

How To Open A COL Account

You are reading this because you are planning to invest in the Philippine Stock Market through COL Financial Group, Inc. I say, you just made a good choice.

So, in opening a COL account, follow these simple steps:

Step 1 - Choose your account type

You can choose what kind of account you want to open.

COL Starter Account – Php 5,000.00

COL Plus Account – Php 25,000.00

COL Premium Account – Php 1M above

Step 2 - Application Forms

-Duly filled in Customer Account Information Form, Online Securities Trading Agreement and two copies Specimen Signature Card (download here).

Step 3 - Additional Requirements

FILIPINO CITIZENS

• Photocopy of one (1) valid government issued ID
  Photo and signature must be clear
• Billing Statement - Recent, no later than 3 months past

RESIDENT FOREIGN CITIZENS

• Photocopy of one (1) valid government issued ID
  Photo and signature must be clear
• Alien Certificate of Registration (ACR)
  or Work Permit from DOLE
• Billing Statement - Recent, no later than 3 months past

NON-RESIDENT FOREIGN CITIZENS

• Authentication of a photocopy of one (1) valid passport. (Photo and signature must be clear)
• Proof of Income
• Billing Statement - Recent, no later than 3 months past                

IN-TRUST-FOR (ITF) ACCOUNTS

• Photocopy of one (1) valid government issued ID of the parent. (Photo and signature must be clear)
• Birth Certificate of the minor applicant
• Duly-signed ITF Supplementary Agreement
  Download here ››
• Billing Statement - Recent, no later than 3 months past

         Source: COL Financial

Step 4 – Submission

After you have completed the requirements in step 2 & 3, you will send your application documents to their address;

2403-B East Tower, Philippine Stock Exchange Centre

Exchange Road, Ortigas Center, Pasig City, 1605 Philippines

You can send your documents via LBC courier or JRS express. You should not forget to email helpdesk@colfinancial.com and inform them you have sent your application forms. There will be someone assigned to track your application and your future transactions with COL. You will receive an email from them if your application was approved together with the instruction on how to fund your account. The email also contains your account number/transaction number with COL.

Step 4 – Fund your account

The complete instruction on how to fund your account will be sent to your email. To elaborate, you can deposit your initial fund to their account in BDO, BPI and Metrobank thru online banking (bills payment) or over-the-counter-payment. You can also go to their main office to submit all your requirements. Wire transfer via BDO is available for OFW.

After you have deposited your initial funding, you should send a scanned copy of your receipt to deposits@colfinancial.com.  You will receive an auto-generated reply as confirmation of your email or you can fax it thru +632 6346958. Your payment will be posted by the banks usually within 3 working days. After COL receive your payment, you will wait for 48 more hours and you will receive another email from COL that your account has been activated and is ready for use. This time, you can now log-in to your account and start buying stocks.

If in case you did not receive an email from COL after 48 hours, you can just email helpdesk@colfinancial.com and deposits@colfinancial.com and your help desk personnel. They will immediately activate it.

Hope this helps. Good luck!

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How to Withdraw Funds from COL Financial

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My COL Account