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Here I go ranting about BPI (Bank of the Philippine Islands) again.

In October 2007, I wrote about the problems of some clients regarding an ATM that supposedly did not dispense cash and a branch manager who allegedly stole someone’s remittance money.

In October 2008, I ranted about not getting connected to BPI’s Phone Banking hotline after several tries in my attempt to solve my BPI Trade password problem. I wondered then if BPI’s call center was terribly undermanned or simply manned by lazy employees.

Now, I’m beginning to have these thoughts again since no one from BPI has solved my new BPI Trade account problem for more than a month now.

Stock disappeared in BPITrade portfolio

Back in May 2009, I bought shares of Metrobank (Stock Code: MBT) and when its price had appreciated a few weeks later, I decided to sell them.

My first order transaction was accepted by BPITrade (Status: OA). A few hours later, it still was not matched probably because the asking price I set was a bit high. I canceled the transaction and this was properly recorded in my account (Status: XC). I then submitted another order with a lower asking price. This transaction was again accepted by BPITrade (Status: OA).

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I then checked my portfolio and it showed all my shares of MBT had disappeared. However, when I viewed my transaction history, there was no “Matched” sale.

During that time, I simply dismissed it as delay in recording. A few days later, though, there still was no matched sale (Status: M) in the transaction history. And yet, all the MBT shares I held had disappeared.

That’s when I decided to call BPI for help.

BPI Phone Banking Experience #1

I called BPI’s customer support number at 89-100 but got surprised because there was no menu option for BPI Trade-related concerns. I then talked directly with a Phonebanker. She told me she has no access to my BPITrade account and was advised to visit my branch of account. Off I went there.

At the Branch of Account

There the staff told me they too don’t have access to my account since BPI Trade, according to them, is under BPI Securities. I asked if I could get the number of BPI Securities but they apologetically told me they are not at liberty to divulge the number. My best recourse, they said, is to connect to Phone Banking again who will supposedly direct me to someone who can  solve my problem. Hmmm…

BPI Phone Banking Experience #2

I contacted BPI’s customer support hotline again and talked to a Phone Banker (891-00 then press “0” then “0” then “0” again). Expectedly, the customer service representative who answered told me she has no access to BPI Trade accounts and was told to dial 89-100 then press “0” then “0” then “6” this time. However, it turned out that “6” is for concerns regarding Corporate Accounts. Big fail.

BPI Phone Banking Experience #3

I desperately contacted BPI’s customer support number again and connected myself to a new Phone Banker. As usual, she told me she does not have access to BPI Trade accounts. Annoyed, I told her I’ve been passed around for more than 30 minutes already and yet no one knew who can help me or what number I should call. She apologized and asked me to hold  “for a while,” while she looked for someone supposedly with access to BPI Trade accounts. A few minutes later, she told me she is transferring my call.

BPI Phone Banking Experience #4

A guy answered and asked what he can do for me. I told him, “I have a problem with my BPI Trade account. My call has been passed around for more than 30 minutes now and, it appears, no one knows how to solve it. I bought stocks before and tried to sell them via BPI Trade. There was no matched order in my transaction history and yet the stocks are all gone. Are you able to check that transaction?”

He replied: “I’m sorry, Sir, but I cannot access the details of those transactions for you. I can only see the same transaction history you see.” Big fail part 2.

I angrily responded: “So what do I do now? Don’t you have anyone competent enough to address my concern?”

He said: “Sir, I’ll just give you four numbers of BPI Securities. I think they are best equipped to handle your problem.”

Me: “Fine, fine. Give me those numbers.”

Calling BPI Securities

BPI Securities telephone number #1. Busy tone.

BPI Securities telephone number #2. Ring, ring, ring but no answer.

BPI Securities telephone number #3. Ring, ring, ring but no answer.

BPI Securities telephone number #4. Ring, ring, ring but no answer.

BPI Securities telephone number #1. Busy tone.

BPI Securities telephone number #4. Ring, ring, ring but no answer.

BPI Securities telephone number #3. Ring, ring, ring but no answer.

BPI Securities telephone number #2. Ring, ring, ring but no answer.

BPI Securities telephone number #1. Busy tone.

BPI Securities telephone number #3. Ring, ring, ring but no answer.

BPI Securities telephone number #4. Ring, ring, ring. After 15 minutes, finally, someone answered.

Me: “Hi. I have a problem with my BPI Trade account. I have stocks in my portfolio and tried to sell them but they disappeared in my portfolio although there was no matched order in my history.”

Someone from telephone number #4: “I’m sorry, Sir, but the guys at telephone numbers #1 and #2 are the ones who can handle your query.”

Me: “I know. But I’ve been calling them for some time now and all I got was a busy tone in line 1 and no answer in line 2.”

That girl: “I’ll check, Sir, if they are on their desks. For a while…”

Two minutes later.

The girl again: “Sir, the person in line #1 is busy talking with someone and the guy at line #2 went out. If you want, I’ll just get your number and I’ll ask them to contact you as soon as they’re available.”

Me: “Fine. Here are my numbers. Can you promise me they will contact me before the day ends.”

That girl: “Yes, Sir. I’ll tell them to contact you ASAP.”

Two Days Later

Today, two days later, no one has contacted me yet. Super duper big fail #3.

I decided not to call Phone Banking or BPI Securities yet until I have calmed myself down. Right now, I don’t know what I’ll be able to say to them after the horrendous experience I’ve gone through.

I busy myself at the moment looking at CitisecOnline’s trading system. This time, it may be goodbye BPITrade and hello CitisecOnline. But that doesn’t mean I’m done with BPITrade and my missing Metrobank stocks. Hell hath no fury like an investor with shares of stocks gone.

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  • Cferia

    Hello! I just opened an account with BPI Trade and already, I am finding it hard to contact customer service. I wish to inquire whether you have found your missing MBT shares with BPI. I found your blog post while searching how to transfer money to BPI. Now I am thinking whether I should just close the account and consider First MEtro. I hope you could get back to me on this. Thanks sir!
    Charmagne

  • Racquel Colina

    omg…good thing i read your blog. i was planning to open an account with BPI Trade…tsktsk…this is very disappointing…thanks for sharing this

  • ianne

    thanks for this info, i was also planning to open an account with BPITrade, good thing i have read your article, thank you..

  • Owagancila

    to all commentor for this article! that’s only a competitor for BPI because at last he mentioned about CitisecOnline trading accout…A ridiculous one!hehehehehehe

  • Business

    I am a CitisecOnline investor.  So far, their website is quite easy to use.  However, they have to look into their customer service.  The lines are answered quickly, however, their agents can only help with basic stuff. I had to email to get an answer, but I was still not very satisfied with what they gave me.  The scenario:  I called customer service 3 x in a span of 6 months and I got the same (wrong, incomplete) answers.  I told them I wanted to know how much money I have, after investing for more than 1 year.  Agent said I’ll see it in my portfolio, under “total trade value”.  However, I insisted that is not the one, since that did not include the compounded interest earned.  I then emailed, and they replied to me attaching a “sample template” on how to compute my earnings.  I dont need a template, I need an actual computation with the actual amount.  For those in the know on LONG TERM INVESTING in stocks (NOT TRADING), is that really how it is in the stock market?  When do I know my actual total earnings, when I withdraw my money?  Thanks.

  • richard

    Graaaaabe! And to think that I was planning to open an acct with BPI Trade instead of CitisecOnline. Inisip ko kasi sa bpi nalang kasi syempre banko yan so mas reliable. Pero after reading this — total turn off to negative infinity :( choices ko rin panaman para sa SDA accts are Metrobank at BPI tsk, tsk, tsk but i’m seriously reassessing after reading this. Kaya ko ayaw sa citibank coz of their scandals (remember brian ang evp ng citibank sa chinatown na nagnakaw ng millions, plus scandal nila sa US), tapos bpi din pala kulang sa integrity natakot tuloy ako sa kanila :(

  • http://www.facebook.com/feanne Feanne Hontiveros Mauricio

    So annoying!!! I applied for my BPITrade account last Feb. 7… it’s now Mar. 1. I’ve already called them many times and it’s so frustrating that my account is still “being processed” or “non-existent”. I should’ve just gone with Citisec :( so disappointed since the other BPI services I use are pretty good.

  • http://www.facebook.com/feanne Feanne Hontiveros Mauricio

    Walang kwenta ang BPI Trade. I applied over a month ago and after many many frustrating phone calls (even after they already mailed and emailed me “welcoming” me to my new BPITrade account), I apparently still don’t have a BPITrade account and they can’t even tell me what’s the problem. So disappointing.

  • Awe Guro

    Buti na lang at nakita ko tong post na to.. naiinis kc ako sa phone bankers ng bpi.. ang ba bastos., imbes na akpo ang “Irate” sila ang “hi blood”. I have 2 bad experience with bpi phone bankers. Just 10 minutes ago I called their hotline to clarify regarding online transactions. Yung date kc hindi tama. Sabi nya basta daw nag fall ng saturday sunday at holiday ang transaction and posting would be the next banking day, maiiba din yung date ng transaction.. So ok I understand, sabi pero yung ibang transactions ko, didn’t fall on a weekend and hindi mag kakasunod and transactions. Please make I report regarding this matter.. sabi niya ok thank you for calling. Ang bastos, di pa ko tapos na nag go goodbye na tama ba yun.. akala ko she hanged up., I was waiting for her to talk., ako pala hinihintay nya mag salita, hindi pa tinanong kung na satisfy ako sa sagot nya.. ang sabi gumawa na sya ng report and thank you for calling daw. sa inis ko binagsak ko phone.. Hay di na ko uulit with BPI., 4 years na ko sa kanila., pero laging bastos ang mga phone banker.

  • Awe Guro

    Nag hahanap talaga ako ng forums regarding bpi.. If they don’t do something about their service, people would go to other banks.