It said Bitcoin trading and other activities, like charges for verifying transactions, "are exempt because they fall within the definition of 'transactions, including negotiation, concerning deposit and current accounts, payments, transfers, debts, cheques and other negotiable instruments'".
current accounts, payment services, and postal savings products such as postal savings books and interest-bearing postal certificates distributed on behalf of third-party loan products.
The nine will soon be inviting their customers to register their mobile number and select the current account they want payments made into before the service goes live.
The external position of the Philippine economy -- its current account balance, external payments position, and foreign exchange reserves -- has been solid under President Aquino's fiscal management.
And despite concerns about how mean banks are being to small businesses, this is an area where the banks are still formidable competitors.Banks have distribution networks that reach far and wide and they offer services, like current accounts and payment systems, that small companies cannot do without.
At the same time, the Government warns, even if the price of oil settles at around $25 a barrel, inflation in 1990 and 1991 will exceed last year's 6.8percentt, while the current account balance-of-payments deficit will reach $20 billion this year and $26 billion in 1991, more than twice the level that Spanish economists believe is safe.
Such payments would appear neither as current account receipts nor as payments for overseas travel.
Payments made through Paym are made at the same speeds as existing current account, online, and mobile payment services via Faster Payments or Link.
The balance of payments records two different kinds of transactions: cross-border payments for goods and services (ie, exports and imports), which are recorded in the "current account", and cross-border payments for assets.
At the moment non-Barclays customers with a current account can only receive payments, but the bank says they will soon be able to send money.
