How To Get Started With BPI Trade
BPI TRADE – In this article, we will guide you through the process of opening a BPI trade account. We will provide you with steps on how to create an account using this particular trading platform.
The Stock Market functions as a marketplace where individuals engage in the buying and selling of financial assets. However, unlike traditional markets that deal with physical produce, this platform involves the exchange of money and stocks.
Bank of the Philippine Islands (BPI) is one of the most-used banks in the Philippines. BPI Trade serves as the stock exchange trading platform of the Bank of the Philippine Islands Securities Corporation, ensuring a smooth flow of funds between clients’ BPI banking accounts and their BPI Trading accounts. It is listed as one of the best online stockbrokers in the Philippines as of 2023. Â
To open a BPI Trade Account, follow these steps:
1. Visit https://www.bpitrade.com/ and click on “open an account.” Complete the required form and print it out.
2. Take the filled-out form to the nearest BPI or BPI Family Savings Bank, along with at least one valid ID.
3. Expect an email within three to five banking days after applying, containing instructions on how to fund your BPI Trade settlement account. There is no minimum amount required for opening an account, but once you fund your settlement account, maintain an ADB of PHP 500, at least.
To fund your account:
Log in to your BPI online account, where you can find your settlement account number (go to the main tab, choose account information, then the profile tab). You can fund your account using one of four methods:
- You can move funds between your deposit account and settlement account using BPI Express online.
- For those who like face-to-face transactions, just visit the nearest BPI branch and make an over-the-counter deposit to your settlement account.
- With BPI ATM, you can directly transfer funds to your settlement account, but make sure your settlement account is already enrolled for this to be effective.
- Alternatively, you can perform a straightforward funds transfer using the BPI mobile app.
Keep in mind that transfers may not reflect immediately in your settlement account. Allow up to one banking day if you deposited before 10 pm, and up to two banking days if you deposited after 10 pm.
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