Bank of the Philippine Island released a statement that it will soon impose charges for online and mobile apps transactions.
BPI is one of the strongest and most trusted banks in the Philippines today. Due to its credibility, it’s not surprising to know that it has thousands of clients who patronize its services. The advancement of technology plays a vital role in its service upgrades.
The Bad News
From the traditional over the counter transaction, it now offers online and mobile services which make the user’s life easier and more convenient. However, BPI sent a piece of bad news to its users who do online and mobile app transfer before May ends.
Last May 30, BPI announced that it would impose charges on selected mobile apps and online transactions starting on July 1, 2019.
Charges to Impose
According to its advisory, P50 will be a charge to its users for every bank to bank transfer via Instapay and P10 charge for every transfer to unenrolled third party accounts.
“Enroll your 3rd party account/s to continue enjoying fund transfers at no cost. Just visit any branch or mail a signed Third Party Account Enrollment Form,”- BPI
There is Always an Exemption
Unenrolled account via QR code will be exempted to charges but for a limited time only. Meanwhile, transfer to own and enrolled accounts will still be free as well as Dollar to Peso transfers.
BPI states that it is allowed to enroll for up to 99 other BPI accounts for the purpose of online fund transfer and payment.
“You just have to enroll accounts which you deal with on a regular basis. Ninety-nine accounts is a lot for a regular banking client,” BPI corporate communication head Owen Cammayo told ABS-CBN News.
This announcement is undoubtedly dismaying most of the bank’s clients especially now that online transaction is widely used. Some of them express their disappointments through social media.
Source: ABS CBN News