Saturday, August 25, 2018

Why I will NOT Pay My Pag-IBIG Housing Loan at SM

I am not a fan of Banco de Oro (BDO) because it is the bank that still charge interbranch deposit fee. I have been victimized by this modus of BDO plenty of times and I always go out of their branches angry and felt cheated. Fifty pesos (50 Php) is not a small amount after all.

I thought that only BDO has this modus but I recently discovered that another Henry Sy owned corporation has found ways to get more money from its customers. That corporation is SM malls, particularly the SM Payment Center.

We went to SM Supermarket to buy some groceries. Since the SM Payment Center is just nearby, we decided to pay our Pag-IBIG monthly housing loan there.

My Beloved Wife is the one who queued and paid the Pag-IBIG housing loan. I was surprised when she told me that SM Payment Center charged us additional 5 pesos. I was furious and I felt cheated. MERALCO’s Bayad Center does not have additional fee for Pag-IBIG loans.

You may laugh at me because 5 pesos is just a small amount. But I still think that it was an injustice. How much money did SM collected for the many payors of Pag-IBIG loan?! I bet that it will reach millions for one year.

The experience taught me once again that I should never trust SM and its sister companies when it comes to money. I vow that I will never pay my Pag-IBIG housing loan or any other bill at any SM Payment Centers. SM and BDO always find ways to get people’s money.

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