50 Ways Banks Are Earning From You Through Bank Fees

By Nora With 8 comments:

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:


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  


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


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.


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


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


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

. 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


Enroll in BPI Online Banking While Abroad

By Nora With 6 comments:

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

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


Philippine Banks Closed Down in 2017

By Nora With No comments:

Last year,  22 banks were closed down by the BSP and one voluntarily surrendered its banking license. Of the 22 closed down, 20 were rural banks and 2 were thrift banks.

Philippine Banks Closed Down in 2017

                           As of February 18, 2017

1.  Countryside Cooperative Rural Bank of Batangas
       - Head Office address at National Road, Brgy. Pallocan Kanluran, Batangas City
       - Had 4 branches:
           - Antorcha St., Balayan, Batangas
           - Poblacion, Padre Garcia, Batangas
           - GF M.B. Perez Business Center, JP Laurel St., Tanauan
           -Palanas, Lemery, Batangas
       - Closed down by the BSP on January 12, 2017
       - Taken over by the PDIC on January 13, 2017

Related posts:
  Banks Closed Down in 2016 
  Banks Closed Down in 2015  


PNB Offices in Kuwait

By Nora With 1 comment:

Here are the Philippine National Bank Offices in Kuwait:

PNB Desk Office (Marketing Office)
c/o Phil. Embassy State of Kuwait, Block 6
Villa No.153 Nouman Bin Basher St. corner
Damascus Road, Faifa Area
PO Box 26288
Safat 13123, State of Kuwait
Mobile Phone:  965- 99869386
Fax:  965-5329319
Email:  pnbkwt@gmail.com
Business Development Officer:
        Lamberto G. Pantanilla

PNB Desk Office
Bahrain Exchange Co. W.L.L.
Ministry of Awqap and Islamic Affairs Building
Shuhada Street, Murgab State of Kuwait
PO Box 29149 Safat, State of Kuwait
Phone: -965-246 8729
Fax: 965-240 1859

PNB Correspondent Banks in Kuwait

  • Ahli United Bank KSC
  • Al Ahli Bank of Kuwait KSC
  • Al Muzaini Exchange Co.
  • Bahrain Exchange Co. 
  • BNP Paribas, Kuwait 
  • Burgan Bank, Kuwait 
  • Citibank NA, Kuwait 
  • Commercial Bank of Kuwait
  • Doha Bank, 
  • Gulf Bank K.S.C. GULB 
  • National Bank of Kuwait

International Money Transfer Companies that are Partners of PNB
Wells Fargo

Related Posts:
BDO Remittance Partners in Kuwait


Real Estate Developers You Can Pay via BPI Online Banking

By Nora With No comments:
Here's a list of real estate developers that you can pay using your BPI Online Banking.

You can pay immediately after enrolling the real estate developer in your online account.

You need a reference number. It could be your account number, your contract number, customer number or condo unit number. Ask your developer if you're not sure what number to enroll.

Accendo Commercial Corp.

Ali Commercial Center Inc.

Ali Commercial Center Inc

Ali Makati Hotel Property Inc

Alphaland Balesin Island Club

Alphaland Balesin Island Resort

Alphaland Development Inc.

Alphaland Makati Place Inc.

Alveo Land Corp.

Amaia Land Corp.

Amaia Southern Properties Inc


Avencosouth Corporation

Avida- Homeowners

Avida- Local

Avida Middle East

Avida- Milan

Avida- OFW

Avida- Rome

Avida Towers New Manila Condo Corp

Avida UK

Ayala Land Inc - Vita Project

Ayalaland Metro North Inc.

Ayala Property Management Corp

Bellavita Land Corp

BGNorth Properties, Inc.

Bonifacio Ridge Condo Corporation

Cavite Commercial Towncenter

Cebu Holdings, Inc.

Cebu Leisure Company, Inc.

Cebu Property Ventures & Devt

DMCI Projects Developers Inc.

Europa Condominium Villas Inc

Equus Property Venture Inc.

Greenfield Development Corp
Hillsford Property Corp.

JB Tirol Boracay

Joya Lofts and Towers Condo Corp

Kapatiran Realty Corp.

Le Soleil de Boracay

Perf Realty Corp.

Philam Properties Corp.

One Legazpi Park Res Condo Corp

One Salcedo Place Condo Corp

One Rockwell Condominium Corporation

Pacific Plaza Towers Condo

Robinsons Land Corporation

Rocka Filipina Land Inc

Rockavillarealty & Dev't Corp.

Rockwell Residential Towers Condominium Corp.

Rodel Barcelona Properties Inc.

Royale Homes Holdings Inc

Royale Tagaytay Estates
Serendra Condo Corp One

Serendra Condo Corp Two

Serendra Inc Utilities Mgt Grp

The City Club at A.M.P.

The Fort Park Estate Inc

The Manansala Condominium

The Pineridge Condominium Corp.

The Regency at Salcedo Condo

The Ritz Towers

The Residences at Greenbelt CC

TRAGCC Laguna Tower
TRAGCC Manila Tower

TRAGCC San Lorenzo Tower
Tytans Properties & Dev. Inc.

Westview Comml. Vents. Corp.