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:


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.


Top 17 Banks in the Philippines, by Total Assets June 2015

By Nora With No comments:

Here are the Top 17 Banks in the Philippines based on Total Assets as of June 30, 2015.

 Ranking of the 36 Commercial/Universal Banks in the Philippines

There are 4 trillionaire banks in the country:
       BDO first surpassed the one-trillion-peso-asset mark in June 2011.
       Metrobank did in September 2013.
       BPI did in June 2014.
       Landbank did in December 2014.  

Which will be the fifth bank to join these 4 trillionaire banks?




1 BDO 1,830.9491
2 METROBANK 1,365.3792
3 BPI 1,159.1793
4 LANDBANK 1,090.5714
5 PNB    599.1825
6 DBP    463.0476
7 SECURITY BANK    442.4678
8 CHINABANK    411.7867
9 RCBC    394.4699
10 UNION BANK    306.31410
11 CITIBANK    256.93011
12 UCBP    255.82812
13 EASTWEST    199.02014
14 HSBC    185.44513
15 PHILTRUST     129.03715
16 AUB     128.97417
17 BANCOM    101.67816
No. 18 to
No. 33
18 MAYBANK    82.77719
19 PBCOM    72.00121
20 STANDARD CHARTERED      66.23118
21 BANK of TOKYO   58.05525
22 VETERANS    54.39224
23 ROBINSONS BANK   51.61126
24 DEUTSCHE BANK   50.50420
25 ANZ   49.11822
26 JP MORGAN CHASE   47.45223
27 MIZUHO   41.72729
28 ING BANK   40.08928
29 BDO PRIVATE   38.71427
30 CTBC PHILS   28.71330
31 BANK OF CHINA   15.48432
32 BANK OF AMERICA   13.85931
33 MEGA ICB   11.66833
No. 34 to
No. 36
34 KOREA EXCHANGE   7.88434
35 BANGKOK BANK   7.53235
36AL-AMANAH   0.77336

Top Commercial/Universal Banks, based on Total Assets as of June 2014


Send Money from Kuwait via BPI Remittance Partners

By Nora With No comments:

Here are the 2 BPI remittance partners in Kuwait. UAE Exchange has a lot of branches across UAE.

UAE Exchange Centre WLL - Kuwait
Find other branches at  www.uaeexchange.com
Online Remittance : www.money2anywhere.com

UAE Echange - Safat Branch
Shop 58 & 65, Ground Floor, Salhiya Safat, UTC Building, Safat 13122
Phone: +965-22450852,22450853
Email: salhiya.branch@uaeexchange.com.kw
UAE Exchange - Salmiya Branch 
Shop 28, Al Bahar Complex, Salem Al Mubarak Street
Behind Burgan Bank Adjacent Persian Carpets, Salmiya
Phone: +965-25714111, 25714222
Email: salmiya.branch@uaeexchange.com.kw

UAE Exchange - Salmiya Garden Branch
Shop 1, Shaikh Salem Al Sabah Building
Ground Floor, Essa Al Qutami Street
Salmiya, Kuwait
Phone: +965-25639533/25639544
Email: salmiyagarden.branch@uaeexchange.com.kw

UAE Exchange - Souk Al Watiya Branch 
Shop 55, Al Watiya Shopping Complex
Ground Floor Al Qibla-Abu Baker
Al Sedeq Street, Kuwait
Phone: +965-22497680, 22497681
Email: soukalwatiya.branch@uaeexchange.com.kw

Kuwait National Exchange Co.
Find other branches at  www.uaeexchange.com
Online Remittance : www.money2anywhere.com

Kuwait National Exchange Co. - Salmiya Branch 
Block 41, Salem Al Mubarak Street
Shop 12/13 Ground Floor, Suhayeb Complex, Salmiya
Phone: +965-25732665/25733907
Email: salmiya.branch@kuwaitnationalexchange.com

BPI Marketing Officers' Mobile Numbers:


If you're sending a big amount of money, you can request for a wire transfer at one of these BPI correspondent banks in Kuwait to send money to a BPI or BPI Family account in the Philippines:

  • Al Muzaini Exchange Co. 
  • Commercial Bank of Kuwait 
  • Gulf Bank 
  • National Bank of Kuwait

The Swift Code of BPI or BPI Family is BOPIPHMM 

BDO Remittance Partners in Kuwait


OFWs Can Open This Landbank Savings Account While Abroad

By Nora With No comments:

You can open this special Landbank savings account for OFWs while abroad, if you are in a city or country where there is a Landbank Overseas Representative Officer.

This account is called  Overseas Filipino ATM Account, offered to OFWs.
  • It's an atm savings account.
  • Opening deposit amount is 100 pesos.
  • Monthly maintaining balance requirement is 100 pesos.
If you open your account abroad, you will be given a generic card by the Landbank Overseas Officer upon application. Your name is not embossed on the atm card.

If you open this account at a Landbank branch in the Philippines, you will be given an atm card with your name embossed on the card.

Here's a list of Landbank Overseas Representative Officers in the following countries in Asia and the Middle East:

South Korea

Saudi Arabia
United Arab Emirates


Grace M. Sausa
c/o Darul Trustee Remittance & Services
Block A. No. 11 Ground Floor Abdul Razak
Gadong Negara Brunei Darussalam

c/o PT Prima Express Remit
Ruko Botanical Junction, Blok h( No. 16
Jalan Raya Joglo, Jakarta Barat
-Indonesia 11640
Brunei Mobile       No./WhatsApp/Viber: (+673) 8671-871
Indonesia Mobile No.:(+62) 812- 85331317
Phil. Roaming Ni.: 0917‐536‐3659
                             (+63) 918-947-8658


Jose William D. Abaña
LBP Tokyo Representative Office
Room 302, 3rd Floor Roppongi Heights
4‐1‐16 Roppongi, Minato‐ku
Tokyo, Japan 107 106‐0032

Mobile No.: 090‐9102‐159
Phone: (00813) 3582‐2186
Fax: (00813) 3582‐2978
Email: lbptokyo@yahoo.com


Ramon C. Avengoza
c/o Tahweel Al Rajhi, Kota Raya
Complex Jalan Tun Tang Cheng
Lock 50000 Kuala Lumpur, Malaysia

Malaysia: +6011‐3606‐1665
Singapore: +65 81495126
Roaming:  0949‐585‐8105
Email: neomazgovan@yahoo.com


Leover A. Loyola
South Korea Mobile No.: +8210-59497948
Email: leover18@yahoo.com


Felisa B. Rosales
20th floor, Landbank Plaza
1598 M.H. Del Pilar cor. Dr. J. Quintos
Sts., Malate, Manila
Philippines 1004
Roaming: 0917‐437‐4718
Email: fely58rosal@yahoo.com


Francis G. Fellone
c/o Zenj Exchange Co. W.L.L.
P.O. Box 236, Manama
Kingdom of Bahrain
Roaming: 0915‐205‐5981
Email: fgfellone@yahoo.com


Richmond Z. Lagrito
20th floor, Landbank Plaza
1598 M.H. Del Pilar cor. Dr. J. Quintos
Sts., Malate, Manila
Philippines 1004

WIC Store # 5, Tachana Merkazit
108 Levinski St., Tel Aviv
Jordan: +962‐7964‐66358
Phil.: +63-9278982730
Email: rzlagrito@yahoo.com


Roy L. Tabamo
c/o Al Fardan Exchange
P.O. Box 339 Doha Qatar
Qatar: +974 6644 7789
Oman: +968 9768 5342
KSA: +966 5435 70559
Roaming :0915‐431‐2156
Email: roy_tabamo@yahoo.com


Jose Aryiel G. Castor
c/o Tahweel al Rajhi
Manila Plaza Bldg.
Al Batha, Riyadh, KSA
Mobile No.: +966546782586
Roaming: +63 915‐8286700

 Mark N, Papa
c/o Al Rostamani International Exchange
8th Floor MAZE Tower
Sheikh Zyed Road
Dubai, UAE
UAE Mobile Phone:  +971506840989
Email: m02_papa@yahoo.com.ph

Gerald T. Heriales
Al Madina Supermarket Building
Navy Gate St., Abu Dhabi, UAE
UAE Mobile No.: (+971)   563415206
Phil. Mobile No.: (+63) 9151797791
Phil. Phone: (+63) 24057331
Email: geraldheriales@gmail.com