Anyhow, I found a way to put my money to good use. This is with the help of a checking account and the post-dated checks (PDC) I issued.
You see, at Philam, you can top up as low as P1,000 for each account. But I feel that going to their office with only P1,000 is not worth it, in terms of time, effort, and fare. Now, with the PDCs, I gave them investments up until December 2012. With just a one-time visit, I made investments all the way up to the end of the year and so that means I don’t have to go to their office within the year. Actually, this time I did not even visit them. They picked up my checks. Isn’t that convenient?
If in case you got into a situation where your checking account does not have enough balance, just call them the day before and tell them to hold the check. It’s that simple.
Now, if perchance you got a lot of money in the middle of the year and you want to add it to your investment, then that is the only time you will have to go to their office, not monthly.
Don’t worry about your checks–you will be issued a provisional receipt plus a form that details all the PDCs that you gave them. And when the checks have already been deposited by Philam, their head office will send you a certificate of participation through courier, informing you of the number of shares bought with your money, based on net asset value per unit at the time your investment was placed, and in this case, the date on your check.
This is a tip for small-time investors. We can still do this.