BPI postpones implementation of new transaction fees to January 2019

BPI has announced that it has postponed the implementation of its Peso cash deposit and withdrawal transaction fees to January 2019.

BPI has issued a statement dated July 4, 2018, announcing that it is suspending the implementation of new transaction fees for certain over-the-counter Peso cash deposit and withdrawal transactions.

In the previous announcement, starting September 1, 2018, BPI and BPI Family Savings Bank clients will be charged Php100 for over-the-counter withdrawal transactions made from ATM accounts and inter-regional Passbook accounts. There will also be a Php50 fee for inter-regional deposits.

BPI defines inter-regional as transacting from a bank situated in a region different from your home branch. For example, you will be charged Php50 for depositing to your account based in Makati (NCR) from San Mateo, Rizal (Region 4-A).

In the new statement, BPI said they have decided to postpone this implementation to January 2019 to give clients enough time to be more familiar with their other existing Bank Anywhere facilities via their online and electronic channels.

Below is the full copy of the statement:

MEDIA STATEMENT | July 4, 2018

We understand our clients’ concern on our Bank Anywhere facility, in light of our decision to update fees for certain over-the-counter Peso cash deposit and withdrawal transactions effective September 1, 2018.

We have decided to postpone the implementation of the branch transaction fees for Peso cash deposits and withdrawals to January 2019. This will give our clients enough time to be more familiar with our other existing Bank Anywhere facilities via our online and electronic channels.

Rest assured that we are committed to a long-term digitalization journey that will enable us to provide a more convenient and efficient banking experience for clients and greater financial access for every Filipino.

Our online banking website and mobile app allow our clients to perform transactions such as funds transfer and bills payment with added security and greater convenience.

Furthermore, we are expanding our ATM network coverage to 2,600 by year end, allowing clients to withdraw, pay bills, and transfer funds, among others. Our over 750 cash deposit machines now allow cardless deposits and accept new peso notes.

Fees for transactions other than Peso deposits and withdrawals will take effect on September 1, 2018, as previously announced.

For the updated advisory about our new fee schedule, please visit www.bpiexpressonline.com.

MARIA ANA LUNA
Head, Customer Experience Management Office

When was the new transaction fee implementation originally scheduled?

The implementation was originally scheduled for September 1, 2018.

What is the new implementation date for the transaction fees?

The new implementation date is January 2019.

Why did BPI postpone the transaction fees?

BPI postponed the fees to give clients more time to familiarize themselves with other Bank Anywhere facilities.

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