BPI To Charge Clients On Some Online Fund Transfer Transactions

BPI To Implement Charges on Some Online Transfer Transactions

BPI – The Bank of the Philippine Islands is set to charge clients on some online fund transfer transactions.

In the Philippines, one of the largest and most prominent banks is the Bank of the Philippine Islands or more commonly known as BPI. It offers a lot of services to the public.

The said private bank got different deposit and savings accounts which are excellent for money safekeeping. With it, you don’t only protect your wealth but as well as let it grow due to interest.

Furthermore, the bank also has credit card and loan offers to the public. These can be great assistance most especially when you are in the face of emergency situations.

BPI

Considering of the huge amount of its clients and the pursuit to make some transactions very convenient for its customers, BPI is utilizing online banking.

Through the online banking, you can transfer an amount from your account to another account. It comes with no cost for registered accounts but with regards to sending money to unregistered ones, there may be fees soon.

Based on a recent report on GMA News, BPI is set to implement charges to clients on some online fund transfer transactions including those with the use of selected money transfer apps.

Effective July 1, the following fees will be implemented by the bank:

  • Transfer to other banks via Instapay – P50 per transaction
  • Transfer to unenrolled 3rd party account (except via QR code) – P10 per transaction
  • Transfer to unenrolled accounts via QR code – free for a limited time period

According to the report, BPI stated that for its clients to enjoy fund transfer without paying for any fee, they must enroll the third party accounts. Customers may visit any bank branch for the Third Party Account Enrollment Form.

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