BPI to Begin Implementing Fees for Online and Mobile App Transactions

The Bank of the Philippine Islands (BPI) recently announced new fees applicable to their online and mobile banking features. These fees come into effect on July 1, 2019. 

Transfers to enrolled accounts as well as your own account will remain free. Dollar to Peso transfer, which is a feature this will soon be available, will be free as well. Transfers to unenrolled accounts via QR code will stay free in the meantime but we can expect that to change in the future.

(LOOK: BPI to increase bank fees for deposits and withdrawals in 2019)

The new fees which will be implemented are for transfers to unenrolled 3rd party accounts and transfers to other banks via Instapay. Transfers to unenrolled 3rd party accounts will be charged Php 10 per transaction unless done via QR code. While transfers to other banks will be charged Php 50 per transaction.

Table via BPI

BPI reminds everyone then to “enroll your 3rd party account/s to continue enjoying fund transfers at no cost
which can be done by accomplishing a Third Party Account Enrollment Form. They add that you can enroll up to 99 other BPI accounts for their online services.

What do you think about this? 






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