Open a BPI Direct Savings Bank Account While Abroad

9.16.2012

BPI Direct Savings Bank is the Internet bank of the Bank of the Philippine Islands (BPI). It's the first Internet bank in the Philippines, and has grown to become the 12th largest savings bank in the country by total assets, as of March 2012.

You can open a BPI Direct account while abroad if you are in the following countries:

Bahrain
Hong Kong
Italy
Spain
UAE
US

Of course, you can open a BPI Direct account while in the Philippines.

Go to bpidirect.com. Click Open a Deposit Account. Follow instructions. Fill up the application form, submit, and then wait for instructions via email for the completion of your account opening.

What accounts are offered by BPI Direct?

Savings Accounts:

BPI Direct Express Teller Savings Account

Initial Deposit: 500 pesos
Maintaining Balance: 500 pesos
Minimum Average Daily Balance for the Month (ADBM) to Earn Interest: 500 pesos, 1% annual

BPInoy Savings

Initial Deposit: None
Maintaining Balance: None, but there should be at least one remittance from abroad every 6 months
ADBM to Earn Interest: 500 pesos, 1% annual

BPI Direct Save-Up Automatic Savings Plus Insurance

Initial Deposit: None
Maintaining Balance: 1,000 pesos
ADBM to Earn Interest: 1,000 pesos, 1% annual for balances less than 400k, 1.5% for balances more than 400k

Features:
1. You are issued a Save-Up Info card, instead of an ATM card. This way, you cannot withdraw easily. Withdraw by transferring your funds to another account.
2. Your free life insurance is 5 times your average daily balance for the past 3 months up to 2 million pesos.
3. Your free accident insurance is 5 times your average daily balance for the past 3 months up to 2 million pesos.
4. You can set an automatic transfer of a certain amount to your Save-Up account every payday or every month. You can also transfer money to this account at any time, aside from the automatic transfer.

Maxi-Saver Savings with ATM

Initial Deposit: 25,000 pesos
Maintaining Balance: 25,000 pesos
ADBM to Earn Interest: 25,000 pesos, 1.25% annual for balances less than 300k, 1.375% for balances less than 500k, 1.5% for balances less than 1M, 1.625% for balances 1M and higher.
Bonus Interest: 1% annual added to the interest for the month if you DO NOT withdraw within the month

Checking Account:

BPI Direct Maxi-One Checking Account

Initial Deposit: 25,000 pesos
Maintaining Balance: 25,000 pesos
ADBM to Earn Interest: 25,000 pesos, 0.75% annual


Where are the Branches of BPI Direct?

BPI Direct has no offices or branches, but you can use the facilities of BPI. You can deposit at any BPI branch.

You will choose one BPI branch where you will present your IDs after opening your account online, where you'll get your ATM card, and where you can withdraw amounts higher than the daily ATM withdrawal limit.

Daily ATM withdrawal limit: 50,000 pesos


Where Can I Deposit Money?

- BPI cash deposit machines (No envelope, no writing, instant credit)
- any BPI branch
- funds transfer through your BPI Express online account (link your BPI Direct account to your BPI or BPI Family account)


Transaction Fees at ATMs Abroad:

Balance inquiry: US$ 1
Withdrawal of US$ 175 and lower: US$ 3.50
Withdrawal of more than US$ 175: 2% of amount withdrawn
Denied transaction: US$ 0.50

Monthly Service Charge for Falling Below Required Daily Balance for 2 consecutive months:  250 pesos per month

Monthly Dormancy Charge after 2 years of no deposit or withdrawal: 300 pesos per month

Open a BPI Direct Savings Bank Account While Abroad

2 comments:

bigwas said...

i am an ofw, can i open a dollar savings account with bpi or bdo for example, How? thanks.

Nora Tamba said...

Hi bigwas, with BPI, you can open a BPI Direct account online if you're in one of the countries listed above. If you're in London, you can ask assistance from BPI Europe in London.
With BDO, you can open a US dollar Kabayan account at a bank or company which is a remittance partner of BDO and which is offering Kabayan account opening assistance. Write here where you are so I can give the link to a list of BDO remittance partners there, if there are.

THANK YOU VERY MUCH FOR YOUR COMMENTS.
 
 
 
 
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