6.16.2025

50 Ways Banks Are Earning From You Through Bank Fees

By Nora With 6 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:


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

7.22.2019

Enroll in BPI Online Banking While Abroad

By Nora With No 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

12. Click "Submit"

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.

8.10.2016

18 Top Banks in the Philippines, by Assets March 2016

By Nora With No comments:
Here are the Top Banks in the Philippines based on Total Assets as of March 2016:

 Top Commercial/Universal Banks in the Philippines


RANK  

BANK

TOTAL ASSETS    

RANK
MARCHin BILLION   DEC
2016PESOS2015
 
TOP 18
 
1 BDO1,986.5561
2 METROBANK1,375.6602
3 LANDBANK1,285.4394
4 BPI1,248.4883
5 PNB  647.0575
6 SECURITY BANK  516.5946
7 DBP  483.0827
8 CHINABANK  470.3248
9 RCBC  408.2669
10 UNION BANK  355.38210
11 CITIBANK  295.51611
12 UCBP  263.90112
13 EASTWEST  232.59913
14 HSBC  186.76214
15 AUB    155.31115
16 PHILTRUST    141.50316
17 BCOMMERCE   127.08117
18 BANK of TOKYO   104.92220
No. 19 to
No. 34
19 MAYBANK    89.77718
20 PBCOM    77.84019
21 ROBINSONS BANK   58.63522
22 STANDARD CHARTERED      58.06321
23 VETERANS    53.01724
24 DEUTSCHE BANK   50.34226
25 MIZUHO   50.10025
26 BDO PRIVATE   49.21823
27 JP MORGAN CHASE   46.41427
28 ANZ   33.87528
29 CTBC PHILS   31.07729
30 ING BANK   22.30830
31 SUMITOMO MITSUI    16.40334
32 BANK OF AMERICA   15.61731
33 MEGA ICB   12.63333
34 BANK OF CHINA   12.62432
No. 35 to
No. 41
35 BANGKOK BANK   9.75135
36 KOREA EXCHANGE   7.42936
37 UNITED OVERSEAS    4.298
38 SHINHAN BANK    2.402 38
39 INDUSTRIAL BANK of KOREA    2.40037
40 CATHAY UNITED    2.220 39
41 AL-AMANAH   0.84640

Previous Ranking: Top Banks, by Assets as of December 2015 US Dollar Accounts with Low Maintaining Balances

Send Money from Dubai via Landbank Remittance Partners

By Nora With No comments:
Send Money from Dubai to the Philippines through Landbank Remittance Partners in Dubai

Here's a List of Landbank Remittance Partners in Dubai, UAE:

AL GHURAIR EXCHANGE

Al Ghurair Exchange 
Al Diyafah St, Satwa, Dubai Satwa
Phone no.: 04-3985999

Al Ghurair Exchange 
Deira City Center, Deira, Dubai City Center
 04-2953530

Al Ghurair Exchange 
Opposite Al Attar Shopping Center
Karama, Dubai Karama
04-3977733

Al Ghurair Exchange
Salahuddin St.
Al Reef Mall, Dubai (fish round about)
 04-2229885

Al Ghurair Exchange
Shop No. 22 GF
Sheikha Fatima Bent Rashid Al Maktoum Bldg.
Hor Al Anz East Mamzar
04-2626036

Al Ghurair Exchange 
Deira City Center, Deira, Dubai East Court
04-2955697

Al Ghurair Exchange
Ground floor, Left Side of Apsara Supermarket
Bank Street, Bur Apsara (Bur Dubai)
04-3964845

Al Ghurair Exchange 
Shop G05 Union Coop Bdlg.
Etihad Mall, Al Khawaneej Road
04-2840654

Al Ghurair Exchange
Dubai Mall Shopping Center
Ground Floor, near HSBC
Shaikh Zayed Road Dubai
04-4340140

Al Ghurair Exchange 
Burjuman Center
Ground floor Near Dome Cafe
Khalid Bin Al Waleed, Bur Dubai
 04-3529170

Al Ghurair Exchange 
Next to Nesto Super Market, Jebeli Ali Industrial Area I
Dubai Jebel Ali Dubai
04-8847727

Al Ghurair Exchange 
Shop No 4 & 5, Building of First Gulf Bank & Yossef Zahra
Block AL Quoz
04-3211924

Al Ghurair Exchange 
Near Ramla Mall,Next to Goldeb Parco Supermarket
Dubai Investment Park 1
04-8840064

Al Ghurair Exchange 
Unit No. 124, Ground Flr.
Lamcy Plaza Sheikh Rashid Rd. Oud
Metha, Dubai
 04-3970482

AL FARDAN EXCHANGE

Al Fardan Exchange 
Khalid bin Walid Road, Bur Dubai
04-3513535

Al Fardan Exchange 
Dubai Festival City Mall
04-2325588

Al Fardan Exchange 
Al Mankool St., Satwa
Hudaibah Branch
04-3988852

Al Fardan Exchange 
Opposite Satwa Bus Station, Satwa
04-3438287

Al Fardan Exchange 
Damascus St., Al Qusais
04-2578303

Al Fardan Exchange 
Al Makhtom Rd, Baniyas Area, Deira
04-2280004

Al Fardan Exchange
Naif Road, Deira
04-2240020

Al Fardan Exchange 
Goldland Center, Deira
04-2266442

Al Fardan Exchange 
LOB 16, JAFZA Jebel Ali Branch
04-8814455

Al Fardan Exchange
Al Qouz Mall, Al Qouz Industrial Area 5
04-3237700

Al Fardan Exchange
LG Floor, Dubai Mall
04-3466235

Al Fardan Exchange 
Al Ameed Mall, Al Qouz Industrial Area 4
04-8839183

Al Fardan Exchange
Shop IAK15, Dragon Mart
04-2776341

Al Fardan Exchange 
Shop 22 CBD 29, Dubai International City
04-5519938

AL ROSTAMANI EXCHANGE

Al Rostamani Exchange
Al Bader Bldg, Baniyas Road, Deira
055-6126131

Al Rostamani Exchange 
Al Rostamani Bldg., Al Fahidi St., Bur Dubai
056-1045019

Al Rostamani Exchange 
2nd level Dubai Airport Terminal 3
Departure Area, beside NIB
050-7551058

Al Rostamani Exchange 
Dubai Airport Terminal 3
Ground Level, near greeters area
050-2906825

Al Rostamani Exchange 
Dubai Airport Terminal 3
Departure Area, near Gate No. 2
(in partnership with Noor Islamic Bank)
050-1686978

Al Rostamani Exchange  
Al Rostamani Twin Towers
Shk Zayed Rd, Dubai Shk
050-7188070

Al Rostamani Exchange
Ground Floor, Al Khazna Bldg.
Kuwait St., Karama
050-7195043

Al Rostamani Exchange
Exhibition Hall No. 6, Dubai World Trade Center
050-9277609

Al Rostamani Exchange 
China Court, Ibn Battuta Mall
056-3523944

Al Rostamani Exchange
2nd Level (Near Cinema & Ski Dubai)
Mall of the Emirates
055-1841630

Al Rostamani Exchange 
Level 1, Al Khaleej Center, Bur Dubai
050-6983284

Al Rostamani Exchange  
Ground Floor, Al Khazna Bldg, Kuwait St., Karama
056-7577204

Al Rostamani Exchange
Al Safiya Bldg, Al Shaab Colony
Deira (beside Talal Supermarket)
Hor Al Anz Branch
056-9928857

Al Rostamani Exchange 
Ground Floor - Emirates Star Hotel Apts.
Near to NMC Hospital & Dubai Womens College
Al Nahda Branch
050-9937698

Al Rostamani Exchange
SF-186-1, 2nd Floor, Dubai Mall
Near Sega Republic & Cinemas 050-9864178

Al Rostamani Exchange
Ground Floor, DNATA (Emirates Holiday Bldg)
Shk. Zayed Road near Business Bay Metro Station
050-5243088

Al Rostamani Exchange 
The Town Center, Meadows, Shop No. G-K5
near Emirates Hills
050-2470216

Al Rostamani Exchange 
Shop No. 5A, Aswaaq Mall, Al Warqa
050-4568215

Customer Service Phone Numbers:

Overseas Remittance Marketing and Support Department (ORMSD)

Metro Manila Phone Nos.
(+632) 551-2200 or (+632) 522-0000
Ext Nos. 2824, 2743, 2744, 2520
or (+632) 405-7331

Contact Persons in UAE:
Roy L. Tabamo  +971-5644-32788
Mark Raymond N. Papa  +971-5692-99924
Gerald T. Heriales  +971-5648-45068

Related Posts:
Where to Open Your Landbank OFW Account Abroad
US Dollar Accounts with Low Maintaining Balances

7.24.2016

Where to Claim QuickPay Remittance in the Philippines

By Nora With No comments:
You can claim your NCB QUICKPAY remittance from these banks or remittance companies.
Go to the counters na merong naka-display na Remittance signs. Or ask the guards.

Sabihin nio lang QuickPay (12-digit reference no.) or Moneygram Remittance (8-digit reference no.).  Merong remittance form that you will fill-up and sign.

You can claim your remittance at any of these QUICKPAY partners:


Asia United Bank
BDO
BPI
ChinaBank
Metrobank
MyRemit, a Kapamilya Service of TFC
PNB
RCBC
SMART

If your sender sent you a Quick Pay Cash Pick-up code or transaction reference number:
The code starts with "QPAY" followed by 12 digits. 

If your sender sent you 8 digits, it is a MoneyGram Cash Pickup code or  transaction reference number:​
MoneyGram Pick-up code is 8 digits 

Bring at least 2 valid IDs. Dapat merong photo na naka-embed at least sa isang ID.

If above banks are far from your place, you can claim from the partners of MyRemit, a Kapamilya Service of TFC (an ABS-CBN subsidiary).

You can also claim your remittance from any of these MyRemit partners:

Bayad Center
Cebuana Lhuillier
GCash Remit
GPRS
LBC
MLhuillier
Palawan Pawnshop

Banks:
Enterprise Bank
One Network Bank
Philippine Veterans Bank

List of IDs Accepted by MyRemit Remittance Partners:
Driver's License
Passport
PRC ID
NBI Clearance
Police Clearance
Postal ID
Voter’s ID
Barangay Certification
GSIS e-Card
SSS ID
Philhealth Card
Senior Citizen Card
OWWA ID
OFW ID
Seaman’s Book
ACR or ICR
HDMF or Pag-ibig Fund Card
AFP ID
Any ID issued by a Government Office or GOCC 
NCWDP ID
DSWD Certification
IBP ID
Company IDs 
 (issued by companies registered with the BSP, SEC or IC)
Student photo ID, with signature of school head, with clear photocopy (for students below 18)

Dapat ang mga IDs ay:

1. Not expired (pag merong expiration date sa ID) 
2. Merong photo (if applicable) 
3. Merong signature of ID owner
4. No erasures
5. Walang signs of tampering 

What is QUICKPAY?
It is a remittance service offered by National Commercial Bank (NCB) to OFWs in Saudi Arabia, Qatar and other Middle East countries where there are big communities of OFWs.