As the economy progresses, more people are saving and investing their hard-earned money in banks. However, a lot has happened in the past few weeks that involved banks and their operations. It was alarming for the banks as well as the clients which caused major concerns and doubt with these institutions.
Another incident that happened recently is when a UnionBank employee was arrested for allegedly stealing P17 million from a UnionBank branch in Pasig City. The arrest was made after an unauthorized cash transfer from the bank's Ortigas Cash Center to its Caloocan Cash Center was discovered to allegedly cover-up the theft.
As the news came out in social media, there have been a lot of speculations and fears when it comes to banking. Many are now afraid of putting their savings in banks and were opted to keep them in their own hands. But this avoidance from dealing with banks is doing more harm than good.
