6/16/2025

 

50 Ways Banks Are Earning From You Through Bank Fees

Here are 50 ways banks are earning from you through bank fees, penalties or charges.


This list is not to condemn banks. We need banks.

This is just to make you aware there are a lot of bank fees and what these fees are, so you can be smart about them.

These bank fees are not only charged in the Philippines -- most of these fees are also charged by banks in other countries.

Here are 50 Ways You're Making the Banks Richer with Bank Fees:


ACCOUNT MAINTENANCE FEES

1. Below-maintaining-balance fee
    This is among the most common fees charged by banks, based on complaints online. One OFW wrote to this blog, saying she was charged 300 pesos for 15 months for a total of 4,500. She did not know that the minimum Monthly Average Daily Balance (MADB) or maintaining balance was increased.

2. Dormancy fee
    This is common among OFWs who are too busy with their work abroad they forget to remit to their accounts. A savings account becomes dormant if there's no deposit or withdrawal within 2 years. The time frame for a checking account is only one year.

3.  Interregional-branch over-the-counter deposit fee
     It's great to say that BPI, BPI Family, Union Bank, EastWest Bank, Sterling Bank of Asia and some big RCBC branches do not impose this fee.  This is one of the reasons why many online sellers use BPI accounts for collecting payments from their customers. Their customers will not have to pay deposit fees.

4.  Fee for exceeding maximum number of monthly withdrawals for special accounts
      This is usually imposed on higher-interest accounts.

5.  Lost passbook replacement fee

6.  Dollar withdrawal fee (withdrawing more than maximum amount)

7.  Dollar deposit fee (depositing more than maximum amount)

8.  Early account closure fee
    Fee for closing your account within one month from opening date

9.  Bank statement or certification fee  


ATM or ATM CARD OR DEBIT CARD FEES

10.  Another-bank's ATM withdrawal fee
     This is perhaps the most common fees charged by banks, and the most ignored by cardholders ("15 pesos lang naman...").



11.  Another-bank's ATM balance-inquiry fee

12.  Same-bank ATM withdrawal fee for special accounts

13.  Over-the-counter withdrawal fee for ATM accounts
       Banks say your ATM account is ATM-based, so you should use only the ATM for withdrawals.
       Your withdrawal should be free if the machine is out of order, or if you need more than the daily maximum ATM withdrawal amount.

14.  ATM card or debit card replacement fee

15.  Overseas ATM  withdrawal fee
       This usually costs US$3.50 per ATM withdrawal. Some ATMs abroad also charge their own fees.

16.  Overseas ATM balance inquiry fee
       This usually costs US$1.00.

17.  Overseas ATM withdrawal rejection fee
      These fees for overseas withdrawals are in addition to fees charged by some ATMs abroad for foreign-issued ATMs.

18.  Fee for exceeding maximum number of ATM withdrawals (for special debit cards)
       Usually, you are limited to 2 to 4 free ATM withdrawals a month.

19.  Funds transfer to another local bank

20.  Foreign-issued ATM card fee
        

CASH CARD or PREPAID CARD FEES

21.  Cash card or prepaid card over-the-counter deposit fee

22.  Cash card inactivity fee
       Fee for not doing any transaction for more than 12 months

23.  Same-bank cash card ATM withdrawal fee

24.  Another-bank cash card ATM withdrawal fee

25.  Cash card replacement fee

26.  Visa or Mastercard prepaid card annual fee
        This is charged for Visa or Mastercard prepaid cards not linked to a savings account.


REMITTANCE or FUNDS TRANSFER FEES

27.  Fee for inward remittance from overseas
        Nagbayad ka na sa remittance company sa abroad, may bayad pa sa bangko? Yes!
        In some cases, banks get their remittance fee through their foreign exchange conversion rate.

28.  Fee for outward remittance to overseas

29.  Correspondent bank fee for outward remittance to overseas
     
30.  Intermediary bank fee for inward remittance to another local bank

31.  Fee for outward funds transfer to another local bank

32.  Fee for incoming funds transfer from another local bank

33.  Fee for funds transfer using debit/credit memo over-the-counter


CHECKING ACCOUNT FEES

34.  Returned check fee
       This could range from 2,000 to 2,500 pesos

35.  Stop payment order (SPO) fee
        SPO application fee is usually 200 pesos per check.
        Plus 2,000 pesos for the process of stopping to fund the check
        (this is charged whether funds are sufficient or not)

36.  Fee for depositing a dollar check that was later returned
 
37.  Check retrieval fee

38.  Over-the-counter check encashment
       (Isn't this free? It has always been, but now some banks want you to deposit the check, not encash over the counter.)

39.  New checkbook fee



CREDIT CARD FEES

40.  Late payment fee
       If your due date is a holiday, Saturday or Sunday, pay before your due date.  
       If you're paying by check, pay several days before to allow for the 3-day to 7-day check clearing period.

41.  Over credit-limit fee
      You spent more than your available credit limit.
      (Why don't the banks decline the card usage? Well, you might sue them for embarrassment or for loss of business opportunity, so they might as well allow you to go over your limit, and just charge you a fee. Isn't that clever?)

42.  Annual fee

43.  Fee for making multiple payments per month
       Fee for making more than 2 or 3 payments to your credit card within a month
       Pinapagod mo raw kasi yong teller nila or yong system nila :)
       Bakit daw hindi ka minsanan lang magbayad? Huh!

44.  ATM cash advance service fee

45.  Over-the-counter cash advance fee

46.  Foreign transaction service fee

47.  Returned check fee (if you used an unfunded check to pay )

48.  Sales slip retrieval fee

49.  Credit card replacement fee

50.  Installment pretermination fee

Notes:
. Foreign banks usually do not impose maintaining balance requirements for each account. What they use is Total Relationship Balance (TRB), the overall total of the balances of all your bank and investment accounts with them.

. The 50 bank fees above are not the only bank fees charged. There are other bank fees.

Related Posts:
What is Maintaining Balance or Monthly Average Daily Balance (MADB)?
Tips for New Checking Account Owners
Below-Maintaining-Balance Penalties for BDO Kabayan Accounts
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7/22/2019

 

Enroll in BPI Online Banking While Abroad

Yes, you can enroll in BPI online banking while abroad.


What account can I enroll in online banking?
.   any deposit account with BPI, BPI Family, BPI Europe or BPI Direct
.  BPI credit card

For Express Cash card, loan accounts and other BPI accounts, you can enroll them ONLY after your online banking enrollment has been approved and activated.


What are the steps in enrolling in BPI online banking while abroad?

1.  Go to bpiexpressonline.com

2.  Find "Personal Login" and " Enroll Now"

3.  Click "Enroll Now"

4.  Choose one of these below:

    Enroll an ATM-based BPI, BPI Family Savings, or BPI Direct deposit account
        For clients with ATM-based accounts

    Enroll a Passbook-based BPI or BPI Family Savings deposit account
        For clients with Passbook-based accounts

    Enroll a BPI Europe account
        For clients with BPI Europe accounts

    Enroll a BPI Credit Card account
        For clients with BPI Credit Card

5.  Click "Continue"

6.  You will see "Please let us know where you are residing"
      Choose "Outside the Philippines"

7.  Click "Continue"

8.  You will see Internet Banking Services Agreement.
      Click "I Agree"

9.  Complete Express Online Registration form

  • User ID
  • Password
  • First Name
  • Middle Name
  • Last Name
  • Mother's Complete Maiden Name
  • Email Address
  • Telephone Numbers
  • Account Numbers and Account Types


10.   Review what you have written.

11.  Print the completed form
       If you do not have a printer, select the whole application form, press Ctrl C, and then paste on a blank Microsoft Word page. Save in your USB.

12. Click "Submit"

Take note:
If after submitting, you see a print-ready version of your completed application form, then this is the one that you should print, sign and mail to BPI.

Again, if you do not have a printer, copy the print-ready form, save it in Word and then in USB, then have it printed at an Internet cafe.

13. Sign the printed form and mail to:

BPI Fulfillment Banking Department
9th Floor BPI Card Center
8753 Paseo de Roxas Makati City 1200
Philippines

14.  After your request is processed, BPI will send you an email advice.

Which BPI accounts can not be enrolled in BPI Online Banking?

  • Peso Passbook accounts
  • Joint AND accounts 
  • In Trust for accounts (ITF accounts)
  • Corporate Accounts
  • Power 5-Bullet (Lump Sum Payment)
  • TF Plus Tax-Dree Repriceable
  • BPI TD Plus Tax-Free
  • Insta-Credit  
Third-Party Accounts that You can Enroll for Funds Transfer

You can enroll third-party accounts only if your own account is an ATM-based account.

These third-party accounts should be Individual Accounts

  • ATM Savings  
  • ATM Checking 
  • Passbook Savings  
  • Maxi  
  • Platinum Savings 
  • Platinum for Kids
  • BPI Direct Savings
  • BPI Direct Checking
  • Pangarap Savings
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2/23/2018

 

Chase Bank Philippines

Chase Bank Philippines?

Are you looking for a Chase Bank in the Philippines, perhaps a branch of Chase Bank in the U.S.?

There's no Chase Bank branch here in the Philippines, which displays this logo


  where you can just enter and make banking transactions using your US-based Chase Bank account.

Chase Bank is the popular name of JP Morgan Chase Bank, N.A. , headquartered in New York City. It is the consumer and commercial banking subsidiary of leading global financial services firm JPMorgan Chase & Co.

The logo of Chase Bank is the logo you see above: CHASE and the blue octagon.

If you're a US pensioner looking for a bank in the Philippines for your US pension and other banking needs, go here and see some tips.

What are here in the Philippines are four JPMorgan Chase & Co. operations:

One is the Philippine-branch of US-based JP Morgan Chase Bank, N.A.
Its complete name is JPMorgan Chase Bank, National Association - Manila Branch.
It's a commercial bank under the supervision of the BSP, which focuses on corporate, investment and wholesale banking.

JPMorgan Chase Bank, National Association - Manila Branch
30th Floor, Zuellig Building
Makati Avenue corner Paseo de Roxas
Makati City
Phone: 885-7925
Fax: 885-7924

The services that this bank offers are:

  • arrangement of equity and debt capital
  • loans and loan syndication
  • merger and acquisition advisory
  • deposit taking
  • government securities
  • cash management
  • foreign exchange transactions
  • foreign currency payments
  • liquidity management
  • financial risk management

JPMorgan Chase Bank, National Association - Manila Branch is a member of the PDIC which provides a deposit insurance for each depositor up to 500,000 pesos.

The three other operations of JPMorgan Chase & Co. in the Philippines are:

J.P. Morgan Securities Philippines, Inc.

 30th Floor, Zuellig Building
 Makati Avenue Corner Paseo de Roxas
 Makati City, Philippines
Phone:  +632 575 1199


JPMorgan Chase & Co. - Philippine Global Service Center
This global service center supports various lines of businesses of JPMorgan Chase & Co. around the world.

Ito yong tinatawag natin na "call center," although mas higit pa sa usual call center tasks ang mga ginagawa.

Its functions include human resources, performance improvement, quality assurance, information technology, accounting, account servicing, collections, operations and operations management, project management, risk & compliance, research, and training.

It has operations in Fort Bonifacio Global City (Taguig City), Cebu, Davao, Zamboanga and other cities in the Visayas and Mindanao.

Metro Manila
Ground Floor, Net Plaza Building
31st St., E-Square Zone
Bonifacio Global City,
Taguig
8am to 6pm
Call: +632 908 JPMC (5762)

Cebu
7th Floor eBloc Tower I
Cebu I.T. Park
Apas, Cebu City
8am to 6pm
Call: +6332 401 9700

Search CAREER Opportunities with JPMorgan Chase & Co. in the Philippines

JPMorgan Chase & Co. corporate groups
Their functions include Finance, Legal & Compliance, Corporate Real Estate & General Services, Technology and Human Resources.

Chase Bank Philippines

Photo Credit:
By Flowerlamp (Own work) [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons
https://commons.wikimedia.org/wiki/File%3AChase_bank922.jpg
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2/22/2018

 

BDO Remittance Partner in Denmark -- Send Money to Philippines

There is now a BDO remittance partner in Denmark. It's TAVEXWISE.

Tavexwise
Central Station Office
Bernstorffsgade 16-22, 1577 Copenhagen

Copenhagen, Denmark

2 Ways to Send Money through Tavexwise: 
        Online transfer through your bank in Europe
         Send money at a Tavexwise office in Europe        

2 Ways for your Recipient to Receive your Remittance through Tavexwise:
     Withdrawal of your remittance from recipient's BDO bank account
     Cash pickup at BDO, SM Business Center 
         and remittance partners in the Philippines

Tavexwise is based in Estonia and is regulated by the Estonian Financial Supervision Authority. It has 29 offices in 8 European countries: 
Estonia
Denmark
Finland
Latvia
Norway
Poland
Sweden
Bulgaria

Other International Money Transfer Companies that you can use to send money from Denmark to the Philippines:
MoneyGram -- This is a partner of BDO. 
                          Can be for deposit to a BDO account  
                          Can be for cash pickup (Recipient informs BDO officer remitter is Moneygram)

Western Union -- For deposit to a BDO account only, as of this time.

If you want to make bank wire transfers from Denmark to the Philippines, it is best if your recipient has an account with Metrobank or Philippine National Bank. 
These 2 banks have correspondents banks in Denmark.
Go here to see lists of the correspondent banks of Metrobank and PNB
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2/21/2018

 

BDO Remittance Partner in Bulgaria -- TavexWise


Send money from Bulgaria to the Philippines by using TavexWise, a BDO Remittance Partner in Bulgaria.

St. Alexander Nevsky Cathedral, Sofia, Bulgaria

TavexWise claims that its rates are cheaper than those charged by Western Union, Moneygram, Azimo, TransferWise and CurrencyFair.

It also claims that since it's part of a group that deals with currency exchange, it offers more favorable exchange rates to clients.
You will know the exact amount that will be received by your recipient in his/her country's currency.

TavexWise is incorporated in Estonia and it handles global remittances at 29 offices in 8 countries in Europe.

You can send money fron Bulgaria in 2 ways:
        Online money transfer through TavexWise website
        or go to any of these TavexWise's offices in Bulgaria:


Burgas 
6 Yanko Komitov Str., 8000 Burgas

Paradise Center 
100 Cherni Vrah Blvd., 1407 Sofia

Plovdiv
2 Aleksander Batenberg Str., Djumayata, 4000 Plovdiv

Serdika Center
48 Sitnyakovo Blvd., 1505 Sofia

The Mall
116 Tsarigradsko Road Blvd., 1784 Sofia

The Mall Of Sofia 
101 Alexander Stamboliyski Blvd., 1303 Sofia

Varna
2 Andrey Saharov Blvd., 9000 Varna

TavexWise is regulated by the Estonian Financial Supervision Authority.
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