Home / Banking and Bank Deposit Products / BPI Trade problem: Stocks missing in portfolio

 
Stocks, Mutual Funds, Forex, Finance Philippines

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).

Stocks, Mutual Funds, Forex, Finance Philippines

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.

Related readings:

Topic Summary Keywords:

bpi trade, bpitrade, bpi trade review, bpi trade vs citiseconline, bpi securities, bpitrade review, citiseconline vs bpi trade, citiseconline vs bpitrade, problem with bpitrade



Like this article? Please LIKE, SHARE or TWEET!