BPI to start charging for over-the-counter withdrawals, inter-regional deposits

Rappler.com
(UPDATED) BPI says it is postponing the implementation of having branch transaction fees for peso cash deposits and withdrawals to January 2019.

OVER-THE-COUNTER. BPI clients wait their turn for over-the-counter transactions. File photo by Alecs Ongcal/Rappler

MANILA, Philippines (UPDATED) – The Bank of the Philippine Islands (BPI) announced on Monday, July 2, that it would begin charging its clients for over-the-counter withdrawals and inter-regional deposits on September 1.

This will apply to both BPI and BPI Family Savings Bank.

Below are fees for specific transactions.

Cash deposits made over the counter

  • Branch of account – free
  • Metro Manila – free
  • Intra-region (transactions made at branches other than the branch of account, but within the same region, such as Metro Manila to Metro Manila) – free
  • Inter-region (transactions made at branches other than the branch of account, and in another region, such as Metro Manila to Ilocos) – P50 per deposit

Cash withdrawals made over the counter through any branch

Accounts with ATM card – P100 per withdrawal

Accounts with a passbook: 

  • Branch of account – free
  • Metro Manila – free
  • Intra-region – free
  • Inter-region – P100 per withdrawal

Check encashment

  • Branch of account – free
  • Metro Manila – P100 per check
  • Intra-region – P100 per check
  • Inter-region – P100 per check

Foreign currency cash deposits

  • US dollars – P0.10 per $1 or a fraction thereof
  • Non-US dollar currencies (3rd currency) – P0.10 per $1 equivalent or a fraction thereof

Checkbook

  • Personal – P250
  • Corporate – P500

Manager’s check – P75
Demand draft – P550
Bank certification – P200
Statement of account (SOA) printing – P50 per page
Safety deposit box (SDB) rental – P2,000 to P6,000 per year, which varies depending on box size

BPI has since announced it is postponing the implementation of having branch transaction fees for peso cash deposits and withdrawals to January 2019.

BPI has set up a frequently asked questions (FAQ) page here. – Rappler.com