Problems with BPI – Bank of the Philippine Islands
October 15, 2007
Dear Bank of the Philippine Islands (BPI),
Here are two of your clients with two separate concerns.
One tried to withdraw cash in your ATM, got nothing because the machine did not dispense any but is still waiting, after two long weeks, for the amount to be credited back to the account.
The other allegedly got victimized by one of your very own bank managers. The client was expecting a remittance from another country, was told there were delays because of numerous problems, but discovered that the branch manager himself apparently took the money. Now, after four long months, the money has not yet been returned.
Pray, tell, BPI, why does it take you a long time to act on the following complaints?
Case #1: The ATM machine that did not dispense cash
Around two weeks ago, PinoyMoneyTalk.com Forum member restless apparently tried to withdraw P20,000 (US$440) in a BPI ATM but received no cash. The card was ejected but the machine did not dispense any bills. Although the transaction receipt clearly confirmed, “No bills dispensed,” the account was debited P20,000.
restless contacted BPI’s Support Hotline and the agent on the other line filed a report. A week later, to his surprise and disappointment, he was told the case had been investigated but the transaction cannot be found. He decided to visit a BPI branch, armed with supporting documents, to file another report. As of this writing, however, no positive response has been received.
Read more about this case in the “BPI ATM did not dispense cash; money still not returned” discussion thread.
Case #2: The bank manager who allegedly stole a client’s remittance
A post from another forum which we reposted in the “Remittance money allegedly stolen by BPI branch manager” thread tells the story of a remittance recipient who has not received the money despite waiting for four months.
The client was expecting a P300,000 (US$6,600) remittance from his mother in Italy. For several weeks, the branch office manager told him the money has not yet arrived supposedly due to various reasons. Annoyed by the two months delay, he decided to file a report in BPI’s Customer Hotline. The ensuing investigation allegedly discovered that the bank manager himself took the money. As a result, the manager was not fired but merely suspended for one month without pay.
However, after two more months, the client has still not seen his money.
Tell us, BPI, is this really the brand of service the third largest bank in the Philippines offers? Why should your clients suffer for problems that were not of their own doing? Why should they wait weeks or months before you solve their complaints?
Your clients want to know, BPI. Don’t ask why.
December 16th, 2009 at %I:%M %p
Dear all,
i have the same problem, undispense amount but BPI deducted to our my acount. if you will rely only on BPI response/ clarification you will never get back your money. here what I did, I asked help from Office of the Persident & Banko Sentral Governor, the office of the Pres, sent letter to BSP Governor to invistigate my compliant against BPI, at once BSP sent letter tp BPI President and after BPI received BSP letter, after 3 days BPI has returned the un-dispense amount to our acount. Without intervention of BSP you will never get back your money.
Send your email address and I will send you the letter from off of Pres. & BSP letter and my whole story to be your guide.
Regards,
Warly
Email:wfaner@kockw.com
here are emails to
January 3rd, 2010 at %I:%M %p
During Spanish times in the 1800s, BPI was established and functioned as the “Central” bank and printed and issued money. The group with BPI acquired vast real estate properties and operated monopolistic businesses by printing more money.
After World War II, there were newer banks that became bigger over the years. BPI, then No.1felt threatened, so it started to acquire banks like Peoples Bank and Trust and later Commercial Bank and Trust in the 70s.
Starting in the late 70s occasionally rumors of bank runs persisted. Scared and panicky depositors transferred their deposits to BPI as a result.
In the 90s, despite the highly popular Banco Filipino no longer a major force in the private banking sector, BPI felt challenged by other Unibanks so it started to pacmanized the Far East Bank and Trust in 2000, and Prudential Bank and Trust in 2008. Yet today it is only fifth largest bank.
With the high service and penalty fees, very low interest rate of .375% per annum, high minimum amount to open and maintain an account, faulty ATM withdrawals, and the difficulties in dealing with their staff, many smart depositors chose to close their accounts or to look for other banks.
To improve the cash position and to remain in the fifth, BPI in October 2009 launched an appliance “giveaway” for as low as 75.000 pesos savings locked in for 3 months similar to what the closed Orient Bank offered years ago. My lolo is still waiting to claim for his Lazy Boy (Presley-F) since October.
To maintain a strong cash position, bank withdrawals of 6 figures or more are being harassed by questions like: What are you going to do with the money to be withdrawn?
The money is your own and not the bank, so they have no business to ask! Large withdrawals have to be notified a day in advance because the bank vault usually contains less than 1 million in cash. When withdrawing without notice for large amount, you will wait for hours just for a manager’s check to be approved and processed.
June 2nd, 2010 at %I:%M %p
Caution to those who are thinking of opening an account with BPI in their caravans (these are the
mobile BPI booths set up in malls that processes quick account opening). Last May 14, 2010 in Robinsons Pioneer, I opened an account with BPI for my nephew whose schooling I am going to support. Initially, I only wanted to deposit 2K so I went ahead and filled out a deposit envelope with the amount. However, one of the tellers told me that if I made my initial deposit to 3K she would give me a body bag freebee. OS I thought why not and besides 3K is the required maintaining balance for the account. So I went ahead and filled out another deposit slip and made my initial deposit to 3K instead. It did not occur to me to tear the first envelop or throw it in the trash but gave it back to the teller together with the other required docs. A week later, upon doing a balance inquiry, I discovered that that I only have 2K as the balance. I filed a complaint but was not really hopeful that something is going to happen. I’m just leaving everything to the laws of karma.
The lessons are:
1. For the potential account holders; Do not open an account in BPI caravans. You wouldn’t know if the same people (all of them were girls) will process the account for you as those who processed mine.
2. For the BPI Management(if this complaint will ever get to you); please use this experience as a guide in implementing controls on how you can protect your clients in these caravans since there are no receipts being generated. In my case the only proofs that I have in claiming that indeed I deposited 3K were the body bag freebee (Is it in the protocol of the caravan to give body bags if a depositor deposits the maintaining balance), 2 two colleagues who also opened an account at the same time as mine (they only got a pen freebee since they did not deposit the 3K). Please remember that this could happen to several people which could turn into a big amount.
September 2nd, 2010 at %I:%M %p
i have a question…what if the atm card captured by the machine???/what can i do?and the owner of the atm card is out of the country.