Author Topic: Question:Is there a maintaining balance for a COLFinancial Account?  (Read 345 times)

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NeoGemini

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Tanong ko  lang po : Is there a maintaining balance for a COL Financial Account?


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MotherTouch

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Re: Question:Is there a maintaining balance for a COLFinancial Account?
« Reply #1 on: July 21, 2016, 01:33:36 PM »
Oo nga tanong ko rin yan. gusto ko rin sana mag open. tsaka pwede ba sya mag 0 kunyari di mo sya namaintain?

RichPoorDad

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Re: Question:Is there a maintaining balance for a COLFinancial Account?
« Reply #2 on: July 21, 2016, 01:39:43 PM »
To answer your question.

Minimum Portfolio Balance per Account is 5,000   




For COL STARTER account, the minimum portfolio balance is ₱5,000. That ₱5,000 can be used to purchase the stocks you want.

Instead of me just writing about what it is, I will also write more of what it is not.


It is not like every month you have to deposit ₱5,000 on your account. Definitely not. That is not a requirement. That amount is just a minimum fund required by COL Financial to open a COL STARTER account.

It doesn't work like the 'minimum deposits' or should I say 'maintaining balance' required by most banks.

Let me compare it by citing an example. To open a bank account you will be required to have a Minimum Initial Deposit, say ₱10,000. In Banco De Oro (BDO), they call this *MADB (Monthly Average Daily Balance) if the money on your bank account (*MADB) fail below ₱10,000 you will be charged ₱300 for that. How cruel are the banks! Right?




The Cash Balance on my COL PLUS account is below ₱25,000.

Good thing that is not the case for COL Financial.

COL Financial will not charge you if your Cash Balance falls below ₱5,000 for COL STARTER or below ₱25,000 for COL PLUS. Because there is NO maintaining balance!

As of this writing my reply, at least this is my viewpoint... this can change over time as policy can change.

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WorldPerksPH

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Re: Question:Is there a maintaining balance for a COLFinancial Account?
« Reply #3 on: August 04, 2016, 03:22:18 PM »
5k ang alam ko.


Check it here.

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Re: Question:Is there a maintaining balance for a COLFinancial Account?
« Reply #3 on: August 04, 2016, 03:22:18 PM »

 

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