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BPI Minimum Balance

Discussion in 'Banking - Investing - Finances' started by andiflip, Jun 3, 2021.

  1. andiflip

    andiflip DI Senior Member

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    Hello, i just found out that BPI is charging 300 peso's per month on any savings accounts with less than a 2 million peso balance at the end of the month.. The greed in this country just astounds me.. especially they can't even be bothered to send out a letter or email advising their new rip off..
     
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  2. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    That's insane to have to go over the PDIC limit to avoid minimum balance fees.
     
  3. SkipJack

    SkipJack DI Senior Member

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    None of the accounts require a 2 million minimum balance.

    The minimum balance for a regular savings account with debit card is Php 3,000.

    This did catch people by surprise and caused long lines at the competing banks.

    In the long run this was probably a good move to push these customers to other banks because these customers are not profitable.

    https://www.bpi.com.ph/bank/deposit-rates-savings-and-checking
     
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  4. Princeton

    Princeton DI Member

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    Not sure what type of account you may have but I have been with BPI for years and never pay a monthly fee unless balance drops below 5000p...then its 300p a month
     
  5. Show Pony

    Show Pony DI Forum Patron Highly Rated Poster Showcase Reviewer

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    I'm guessing BPI may be changing their focus to the business market. My friend had an account in the UK that he used for transferring money.
    BPI basically chased he and others off. That was about 9 months ago. He said something about them only wanting commercial business.
     
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