BPI postpones peso cash deposit, withdrawal fees to January 2019

Rappler.com
But 'fees for transactions other than peso deposits and withdrawals will take effect on September 1, 2018, as previously announced'

MANILA, Philippines – The Bank of the Philippines Islands (BPI) announced on Wednesday, July 4, that it would move the implementation of peso cash deposit and withdrawal fees from September 2018 to January 2019.

These are the fees covered by the suspended implementation:

  • P50 inter-region cash deposit fee (inter-region transactions are those made at branches other than the branch of account, and in another region, such as Metro Manila to Ilocos)
  • P100 inter-region withdrawal fee
  • P100 fee for over-the-counter withdrawals of accounts with ATM cards

In a statement, BPI said the postponement “will give our clients enough time to be more familiar with our other existing Bank Anywhere facilities via our online and electronic channels.”

But BPI noted that “fees for transactions other than peso deposits and withdrawals will take effect on September 1, 2018, as previously announced.”

These other fees are:

Check encashment

  • Branch of account – free
  • Metro Manila – P100 per check
  • Intra-region – P100 per check (transactions made at branches other than the branch of account, but within the same region, such as Metro Manila to Metro Manila)
  • 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

– Rappler.com