BPI to Issue New Transaction Fees to be implemented this coming January 2019

Recently, Bank of the Philippine Islands announced that they will start imposing new transaction fees on some deposits and withdrawals to be made in their banks, effective this September 1, 2018. |ABS-CBN News |

However, BPI later announced just this Wednesday, July 4, 2018, that the said transaction fees implementation will be moved to January 2019. |Rappler.com |

In the latest statement of BPI, the moving of schedule is a grace period for the BPI clients to get accustomed to online and electronic banking transactions in which transaction services are mostly FREE.

The table below shows the previous and the updated transaction fees to be implemented by BPI:

_{Comparison of the Previous and the Updated BPI Transaction Fees to be Implemented in January 2019}

• Branch of Account: The specific BPI branch of where you created your BPI account.
• Inter-Region : Refers to transactions being made between two regional BPI branches (i.e, transactions between Cebu (Region VII) and Muntinlupa (NCR).
• Intra-Region: Refers to transactions being made within the regional BPI branches (i.e, transactions between Cebu (Region VII) and Bohol (Region VII).

According to BPI, new fees are to be implemented in order to align with the industry’s practice since they haven’t updated their fees for quite some time. Furthermore, the BPI’s bank transaction fees need to be adjusted accordingly with the implementation of the TRAIN Law.

To read the FAQ of BPI regarding the updated fees, click HERE

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Posted from my blog with SteemPress : https://pinayteenvestor.com/2018/07/05/bpi-updated-transaction-fees/

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