BPI, BDO, or Metrobank Fees — Why Keep Paying Them?

BDO Fees, BPI Fees, Metrobank Fees, Bank Fees in the Philippines

Bank fees of 10 pesos, 2 pesos, 1.50 pesos, 150 pesos — they add up.
Let’s avoid them.

Over the past months, my daughter accumulated a total deductions of 327.50 pesos
from her BPI Family savings account:

  • two 150 pesos for allowing her maintaining balance to fall below 1,000 pesos for three consecutive months
  • two 10 pesos for ATM withdrawal in other banks’ ATMs
  • three 1.50 pesos for ATM inquiries in other banks’ ATMs

Same with me, I also accumulated a lot of 11-peso and 2-peso deductions
from my BDO savings account for ATM withdrawals in other banks’ ATMs. Obviously, we’re not good examples of what I’m writing about. But since I’ve seen the total deductions on printed paper, I’ve become more conscious about these fees.

My attention to bank fees was also heightened when an OFW in Italy wrote to ask about her BDO savings account which she left dormant. When she comes home this December, she will find that her more than 48K deposit, instead of increasing, has been reduced by about 1,600 pesos. A dormant BDO savings account is charged 200 pesos per month. (Update: BDO increased its dormancy fee to 300 pesos per month of dormancy in February 2011.)

Take note of the following common bank fees. All banks charge them. They just differ in amounts. Let’s avoid them.

1.  ATM Fees for withdrawing in other banks’ ATMs

BPI withdrawal fee: 10 pesos
BPI inquiry fee: 1.50

BDO withdrawal fee: 11 pesos
BDO inquiry fee: 2 pesos

If you withdraw twice a week at another bank’s ATM, you would be
spending 80 pesos a month just for withdrawal.

2.  Service Charge for Not Complying with the Maintaining Balance Requirement

BPI Family: 150 pesos
BPI: 200 pesos
BDO: 200 pesos (increased to 300 on Feb 1, 2011)
Metrobank passbook savings: 250 pesos
Metrobank ATM savings: 200 pesos

The maintaining balances are the following:

BPI Family ATM peso savings — 1,000 pesos
BPI Family passbook savings — 10,000 pesos
BPI ATM peso savings — 3,000 pesos
BPI passbook peso savings — 10,000 pesos

BDO ATM peso savings — 2,000 pesos
BDO Passbook peso savings — 5,000 pesos

Metrobank ATM peso savings — 2,000 pesos
Metrobank passbook savings — 10,000 pesos
Metrobank SSS pensioner — 200 pesos

These banks charge fees for two consecutive months of being below the maintaining balance.

3.  Charges for Dormant Accounts
BPI and BDO:  200 pesos for every month of dormancy (BDO increased its dormancy fee to 300 on Feb 1, 2011)

4.  Service charge for over-the-counter withdrawal for ATM-based Accounts

BPI — 100 pesos
No charge if ATM is off-line or if withdrawal amount exceeds the daily ATM withdrawal limit, which is 20,000 pesos

BDO  —  100 pesos

The daily ATM withdrawal limit for BDO is higher — 50,000 pesos.  If your account is ATM-based, you can’t withdraw over the counter unless you’ve already withdrawn 50K through the ATM or unless you pay the OTC withdrawal fee of 100 pesos.

5.  Fees and Penalties for Returned Checks

Metrobank:  2,000 pesos plus 200 pesos per day for every 40,000 pesos and fraction
of check amount
BPI: 2,000 pesos plus 200 pesos per day for every 40,000 pesos and fraction of check amount

Related Articles:

BDO Deposit Accounts — Baka Maubos Imbes na Lumago

BPI and BDO Internet Banking

BDO Correspondents for Sending Money to the Philippines

BPI Correspondents in Saudi Arabia

BDO Kabayan Savings and BDO Remit Accounts for OFWs

107 Comments

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  1. Hi Jepoy, I think your SPO was not applied because you made your SPO later than due date. You should have made the SPO days before June 15. I think your check bounced because you were charged 2,000 plus 200 pesos daily since June 15. But I’m puzzled because you said your checking account has an automatic-transfer facility (linked to your savings) so it should not have bounced. Was your savings account balance sufficient? But there are also banks that impose the same higher charges on SPO. So what you need to do is call your bank. There’s no harm in asking. Ask them to explain your charges and how to stop the charging without you closing your account. Regarding your deal, if you were in the right, why did they deposit the check if your purchase deal was off? But anyway, you said you learned your lesson and you won’t do it again. From now on, be careful in issuing checks.

  2. Thanks for replying, Yes mrs nora i does have sufficient fund in my accounts. Yes youre right about the SPO i applied it late and the cheque was already deposited and its on clearing process so thats why the SPO was not honored and they told me that spo with insufficient and sufficient funds are both considered as returned check and will automatically charged 2000. Do you think that is acceptable even though i have a sufficient fund thats to much charging noh..

  3. They forgot to tell their depository to not deposit the check anymore. Do they also have charges or just me the issuer? Where will be my check now. Do i need to get it back po?
    As of today i dont have anymore charges yet. Im hoping that will be all. What a stupid action. my 2000 is gone, my goodness.

  4. Hi Jepoy, really so bad and so sad, but that’s the policy of banks regarding late SPOs. 1,000 is for your bank; the other 1,000 is for your payee’s bank (different or the same bank) No, there’s no charge to the one who deposited the check. About the check, it already has stamp and mark that say “With stop payment order” (cannot be redeposited anymore), but if you like, you can get it back. Sure, you lost money, but everyone makes mistakes. Just tell yourself you paid some tuition fees, then learn from it. Some tips here about handling checking accounts.

  5. my husband deposited money from jeddah bpi to my bpi account here in philippines. how long its gonna take for me to get it?

  6. Hi joy, your money should be available within the day or the next day, or within 3 to 5 days, depending on the remittance company used.

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