50 Ways Banks Are Earning From You Through Bank Fees

By Nora With No 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 fee
        This is usually also 2,000 pesos.

36.  Fee for depositing a returned dollar check
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.  Manager's check 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

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.


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

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


Send Money from UAE to Philippines via Metrobank Remittance Partners

By Nora With No comments:
Here are Metrobank remittance partners in the UAE through which you can send money from UAE to the Philippines:

Metrobank Remittance Partners in the United Arab Emirates (UAE):


Al Ahalia Money Exchange Bureau
PO Box 2419, Hamdan St.
Abu Dhabi, UAE

Al Ansari Exchange
PO Box 325, Abu Dhabi, UAE

Al Falah Exchange
PO Box 3692, Abu Dhabi
Sheikh Zayed The Second Street, UAE

Al Fardan Exchange
PO Box 498 Al Amin Tower, Liwa Street
Abu Dhabi, UAE

Al Ghurair Exchange
PO Box 5530, 7th Floor Room 702
Al Masaoud Bldg. Al Maktoum Abu Dhabi, UAE

Delma Exchange Co.
PO Box 129869, Abu Dhabi, UAE

Global Exchange
Shop No. 1-6 Al Souq Tower, Liwa St.
Abu Dhabi
PO Box 3247

Habib Exchange Co.
Central Office
Hamdan St., Abu Dhabi, UAE
PO Box 2370

Lari Exchange
P O Box 988, Saif Bin Darwish Bldg.
Liwa Street, Abu Dhabi, UAE

Lulu International Exchange Co.
Al Dhfrah St. Al Muroor
Al Shaikh Mohammad Bin Zayedh
Al Nehyan Bldg. P.O. Box 4059,
Abu Dhabi, UAE

UAE Exchange Centre 
PO Box 170, Sheik Hamdan St.
Abu Dhabi, UAE


Al Dahab Exchange
Shop No. 5, 6 Bldg.
Saeed Bin Ali Al Qaizi
Al Reqqa St. Deira

Al Fuad Exchange
Shop #2 Bldg. Of Saif Al Otaiba,
Al Reqqa St. Deira, Dubai, UAE
PO Box 16362

Al Ghurair International Exchange
Sheikha Jamila Al Ghurair Building
Naif Road, Deira, Dubai, UAE
PO Box 32082

Al Modawala Exchange
PO Box 13599, Dubai, UAE

Al Razouki International Exchange Co.
Naif Road, Deira, Dubai, UAE
PO Box 12583,

Al Rostamani International Exchange
Mezzanine Floor, Al Rostamani Bldg.
Bank St., Bur Dubai
Dubai, UAE
PO Box 10072

Belhasa Global Exchange
Showroom No. 2, Al Majed Property
Al Nahda Road, Al Qusais
Dubai, UAE

Day Exchange
Shop No. 2 Building of Sultan Ahmed Lootah
Al Reqqa St.
PO Box 22429 Dubai

Economic Exchange
PO Box 116496, Dubai UAE

Emirates India International Exchange
Room 202, 2nd Floor, Kanoo Bldg.
near Al Manama Hypermarket
Karama Dubai, UAE
PO Box 7190

Joyalukkas Exchange
Shop No. 1, Bldg. of Ahmad Hamdan
Budebs, Al Fahidi Street, Bur Dubai
PO Box 171468, Dubai, UAE

Leela Megh Exchange Co.
PO Box 6309, Deira, Dubai, UAE

Onyx Exchange
PO Box 12958 Al Rigga St.
Deira, Dubai, UAE

Orient Exchange Co. 
Al Souq Al Kabeer St.
Murshid Bazar
PO Box 25557, Dubai, UAE

Premier International Exchange
Shop 4 Ground Floor,
Building of Sh. Ahmed Bin Saeed
Al Maktoom Al Diyafa Road Bur Dubai
Dubai, UAE
PO Box 122593

Redha Al Ansari Exchange Est.
Al Falah Branch
Dubai, UAE
PO Box 8828

Sharaf Exchange
PO Box 29040, Dubai, UAE

Wallstreet Exchange Centre
1103 Twin Towers, Baniyas Road
PO Box 3014, Dubai, UAE


Saad Exchange
Shop No. 1 & 2
Bldg. of Khalifa Waleed Obaid
Hamad Bin Abdulla Road
Al Fujairah, UAE
PO Box 37


Al Jarwan Exchange
PO Box 5504 Sharjah, UAE

List of BDO Remittance Partners in UAE
SSS branch in Abu Dhabi, UAE

13 Biggest Banks, by Total Net Loans Dec 2014

By Nora With No comments:
From which bank did you get your housing loan or car loan?

Here are the biggest banks in the Philippines, based on total net loans granted as of December 2014.

Loans include:
1. Commercial and Production Loans
2. Consumer Loans (Housing loans, car loans, personal loans, credit card loans)

1 BDO1,160.4351
2 METROBANK   681.4832
3 BPI   622.0923
4 LANDBANK   449.0484
5 PNB   279.8785
6 CHINABANK   243.5446
7 RCBC   200.7277
8 SECURITY BANK     179.2898
9 DBP   159.4429
10 UNION BANK   140.75612
11 EASTWEST   114.76011
12CITIBANK   108.77510
13 UCPB   106.00413
14 AUB     68.22214
15 HSBC   55.05515
16 MAYBANK   47.48418
17 BANCOM   40.81119
18 BANK of TOKYO  36.00020
19 PHILTRUST     35.65217
20 STANDARD CHARTERED     34.71916
21 ANZ  27.10921
22 PBCOM   26.52322
23 JP MORGAN CHASE  23.05025
24 ROBINSONS BANK  21.83326
25 MIZUHO  21.22124
26 ING BANK  19.89731
27 CTBC  17.54127
28 DEUTSCHE BANK  15.84323
29 VETERANS   10.53928
30 MEGA ICB   9.88930
31 BANK OF CHINA   9.05832
32 BANGKOK BANK   7.20133
33 BDO PRIVATE   5.64429
34 KOREA EXCHANGE   3.87834
35 BANK OF AMERICA   1.75435
36 AL-AMANAH   0.186 36


7 Banks in the Philippines Affiliated with the World's 50 Safest Banks

By Nora With No comments:
These 7 banks operating in the Philippines are affiliated with some of the world's 50 safest banks in 2014, as ranked by Global Finance. Banks were ranked based on long-term credit ratings from Moody’s, Standard & Poor’s and Fitch and on total assets.

1. United Overseas Bank Philippines
  UOB is a thrift bank incorporated in the Philippines and is a member of United Overseas Bank Group, of which the world's 14th Safest Bank, United Overseas Bank Singapore, is also a member.

2. Hongkong & Shanghai Banking Corp. (HSBC)
   HSBC is a universal bank and is a foreign branch of global company HSBC Group, to which the the world's 27th safest bank, HSBC UK, and the world's 34th safest bank, HSBC France, also belong.

3. HSBC Savings Bank (Philippines), Inc.
   This is a thrift bank incorporated in the Philippines by HSBC Group, same group to which HSBC UK, the world's 27th safest bank, and HSBC France, the world's 34th safest bank, belong.

4. ANZ Banking Group Ltd.
   ANZ is a universal bank, the Philippine branch of ANZ Goup Australia, the world's 19th safest bank.

5. DBS Bank Ltd. Representative Office in the Philippines
    This is the representative office of DBS Bank Singapore, the world's 12th safest bank.

6. The Export-Import Bank of Korea (Korea Eximbank) Representative Office in the Philippines
     This representative office represents Export-Import Bank of Korea (KEXIM), the world's 42nd safest bank.

7. The Bank of New York Mellon Representative Office in the Philippines
      This representative office represents BNY Mellon, the world's 47th safest bank.

List of the World's 50 Safest Banks, as Ranked by Global Finance 

Rank     Bank     (Country)

1      KfW  (Germany)
2      Zürcher Kantonalbank (Switzerland)
3      Landwirtschaftliche Rentenbank (Germany)
4      L-Bank  (Germany)
5      Bank Nederlandse Gemeenten  (Netherlands)
6      Nederlandse Waterschapsbank  (Netherlands)
7      NRW.Bank  (Germany)
8      Caisse des Dépôts et Consignations  (France)
9      Banque et Caisse d’Epargne de l’Etat  (Luxembourg)
10    Société de Financement Local (SFIL)  (France)
11    TD Bank Group  (Canada)
12    DBS Bank  (Singapore)
13    Oversea-Chinese Banking Corp.  ( Singapore)
14    United Overseas Bank  (Singapore)
15    Rabobank  (Netherlands)
16    Royal Bank of Canada  (Canada)
17    National Australia Bank  (Australia)
18    Commonwealth Bank of Australia  (Australia)
19    ANZ Group  (Australia)
20    Westpac  (Australia)
21    Nordea  (Sweden)
22    Bank of Nova Scotia  (Canada)
23    Svenska Handelsbanken  (Sweden)
24    Hang Seng Bank  (Hong Kong)
25    National Bank Of Abu Dhabi  (UAE)
26    Caisse centrale Desjardins  (Canada)
27    HSBC  (United Kingdom)
28    Sparkassen-Finanzgruppe (Sparkasse)  (Germany)
29    China Development Bank  (China)
30    Bank of Montreal  (Canada)
31    CIBC  (Canada)
32    Agricultural Development Bank of China  (China)
33    Export-Import Bank of China  (China)
34    HSBC France  (France)
35    Korea Finance Corporation  (South Korea)
36    Industrial Bank of Korea  (South Korea)
37    Korea Development Bank  (South Korea)
38    Pohjola  (Finland)
39    CoBank  (United States)
40    AgriBank  (United States)
41    National Bank of Kuwait  (Kuwait)
42    Export-Import Bank of Korea (KEXIM)  (South Korea)
43    BancoEstado  (Chile)
44    Banque Cantonale Vaudoise  (Switzerland)
45    Agfirst  (United States)
46    DZ Bank  (Germany)
47    BNY Mellon  (United States)
48    U.S. Bancorp  (United States)
49    Qatar National Bank  (Qatar)
50    Samba Financial Group  (Saudi Arabia)